Stock Markets Today May 12. US and China to Suspend Part of Duties for 90 Days
MILAN – Monday’s market reaction to progress in US-China trade talks offered investors a roadmap for how a significant breakthrough could materialize. Asian markets closed positively and Europe also opened higher, with oil doing well. “It’s not easy to make predictions about market trends this week,” analysts said. “Experts are divided. Wall Street has reached significant technical levels, the S&P 500 is at 5,700 points and has erased all the losses it had suffered since early April following Trump’s tariff threats. European markets have done the same. And now stock markets are at a crossroads. There’s a lot of liquidity on the markets, but also a lot of uncertainty and skepticism. Trump is playing the de-escalation card on tariffs and would like US stock markets to start rising after breaking even, also because that would force large asset managers who are reluctant to relaunch.”
Banks: Bankitalia, mortgage rates down to 3.54% in March
In March 2025, interest rates on loans granted in the month to families for the purchase of homes including ancillary costs stood at 3.54%, down from 3.58% last February. This was reported by Bankitalia in the publication 'Banche e moneta: serie nazionale' released today. The APR on new consumer credit disbursements stood at 10.29% (10.46% in the previous month). Interest rates on new loans to non-financial companies were 3.92% (3.99% in the previous month), those for amounts up to 1 million euros were 4.48%, while rates on new loans above this threshold were 3.63%. Passive rates on all existing deposits were 0.79% (0.82% in the previous month).
Oil: Prices soar as US-China tariffs suspended
Oil prices jumped about 3% in Asian markets after the United States and China announced they would suspend for 90 days part of the punitive tariffs imposed since U.S. President Donald Trump launched a trade war against the world's second-largest economy. WTI crude futures gained 2.90% to $62.75 a barrel while Brent crude futures rose 2.59% to $65.56 a barrel.
Unicredit +3% with quarterly results above expectations and guidance increase
Better-than-expected quarterly results and an upward revision of 2025 guidance are pushing Unicredit shares up 3.01% to 55.39 euros on the stock exchange (+1.3). The institute closed the January-March period with the best results in its history, a profit of 2.77 billion, up 8.3% compared to the same period in 2024 and compared to the 2.3 billion forecast by a consensus published on the institute's website. Revenues grew by 2.8% to 6.55 billion, with interest margin at 3.5 billion (-2.9%) and commissions at 2.3 billion (+8.2%). Operating costs stood at 2.3 billion (+0.6%), for a cost/income ratio down to 35.4%. As for capital strength, the CET 1 ratio rose by 27 basis points to 16.1%.
Europe accelerates with US-China on duties, Milan +2%
European stock markets accelerated after the agreement between the US and China to lower reciprocal tariffs for 90 days. Washington from 145 to 30% and Beijing from 125 to 10%. This was enough to increase investors' optimism about the possible end of the war on tariffs. Then we look at the possibility that a truce between Russia and Ukraine could soon be reached. Milan marks a rise of 2%, followed by Frankfurt (+1.63%) and Paris (+1.39%). Stocks in almost all sectors are rising: from luxury to technology, from energy in the wake of the rise in crude oil to automotive. The traditionally defensive sectors are an exception, namely utilities and pharmaceuticals. On the currency front, the euro is falling against the dollar
Tariffs: US and China to cut punitive tariffs by 115%
The US and China will reduce punitive tariffs on each other by 115%. US Treasury Secretary Scott Bessent announced this after talks with Chinese officials in Geneva.
Oil: Prices soar as US-China tariffs suspended
Oil prices jumped about 3% in Asian markets after the announcement that the United States and China will suspend for 90 days part of the punitive tariffs imposed since US President Donald Trump launched the trade war against the world's second largest economy. WTI crude futures gained 2.90% to $62.75 a barrel while Brent crude futures rose 2.59% to $65.56 a barrel.
Europe opens higher, Milan +1.9% and Paris +0.9%
Europe opens higher, Milan +1.9% and Paris +0.9%, Frankfurt opens at +1.3%, London at +0.6%, Madrid at +1.1%
Asia is doing well after US-China progress, India is running
Asian stocks are trading positively, while European and US futures are rising after China and the US made substantial progress in two days of talks in Geneva over the weekend to defuse the conflict, Tokyo is up 0.33% and Chinese stocks are doing better. Hong Kong is rising (+1.4%) for the eighth consecutive day, Shanghai is gaining 0.69% and Shenzhen is up 1.38%. Indian stock market indices are rising by around 3% and Pakistan is rising (+8%) after the two countries agreed to an immediate ceasefire.
Orcel, we haven't made a decision yet on Banco Bpm
As for Banco Bpm, on which a takeover bid is underway, "we are re-examining it" in light of "Anima and the Golden Power, but we have not yet made a decision." This was stated by Unicredit CEO Andrea Orcel in an interview with CNBC.
From Ppf partial offer on Prosieben for 7 euros
After Mfe, the Czech group Ppf has announced a partial takeover bid for Prosieben at 7 euros per share. With the offer, it aims to increase its stake to 29.99%, according to a note. The board of directors of the German TV channel has welcomed the operation, according to another note.
Tokyo Stock Exchange: Closes Up, Nikkei +0.38%
The Tokyo Stock Exchange closed higher on optimism over the outcome of the China-US trade talks, following the weekend's talks in Geneva. The Nikkei rose 0.38% to 37,644.26 points.
Gold Price Drops, Spot Trades at $3,278
Gold prices fell sharply this morning on the commodity markets: the precious metal for immediate delivery (Gold spot) changed hands at $3,278.14 with a decrease of 1.41% while gold for June delivery was trading at $3,277.70 with a decrease of 1.98%.
Euro down at start, trading at $1.1221
Euro down against dollar this morning and up against yen on currency markets: the European single currency is trading at 1.1221 dollars with a decrease of 0.26% and at 163.9000 yen with an increase of 0.23%
Oil: Prices rise as US-China talks progress
Oil prices rose in Asian markets as progress in U.S.-China trade talks eased concerns about demand from the world's two biggest oil consumers. U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer expressed optimism about the weekend talks and said they would provide more details later in the day, a sentiment echoed by their Chinese counterparts. However, oil's gains were capped by OPEC+ plans to accelerate production increases in May and June. A potential U.S.-Iran nuclear deal also added pressure, as it could ease concerns about tight global oil supplies. U.S. and Iranian negotiators concluded talks in Oman on Sunday, with further discussions planned, as Tehran reaffirmed its commitment to uranium enrichment.
Asian stocks: all positive after China-US announcement on tariffs
Asian stocks rose after China and the US held "substantive" trade talks over the weekend, raising hopes that the two sides will ease tensions over tariffs that have rattled global markets and fueled recession fears. US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer met with Chinese Vice Premier He Lifeng and International Trade Representative Li Chenggang. "We have made substantial progress between the United States and China in the very important trade talks," Bessent told reporters, as the White House welcomed what it called a new "trade deal," without providing further details. Chinese Treasury Secretary He said the atmosphere at the talks was "candid, thorough and constructive," adding that it was "an important first step."
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