Bags, the last session closes in red. New US tariffs on French and German wines and other goods weigh heavily

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Low session for downgraded European stock exchanges on the occasion of the New Year holidays. London was the heaviest with a final drop of 1.45%, followed by Madrid (-0.99%), Paris (-0.86%) and Amsterdam, which ended with a 0.55% decline. Milan and Frankfurt closed. All exchanges open today, including Amsterdam, Madrid and Lisbon, will have reduced trading hours and will close at noon.

Instead, adjust the Wall Street session: US indices in early trading are practically flat (indices here) after a very lively year, characterized by the tumultuous rebound after the March slide. The S&P 500 Index is about to close 2020 up 15 percent and the Nasdaq even +43 percent.

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New US tariffs on France and Germany

The US government’s decision to increase tariffs on certain EU products, including aeronautical components and wines from France and Germany, is weighing on the markets, the latest twist in a 16-year battle over subsidies. to Washington-Brussels airlines in connection with the Airbus-Boeing dispute. In a statement, the Office of the United States Trade Representative (USTR) said it will add tariffs on aircraft components and some wines, as well as cognac and other spirits from France and Germany. This new wave of tariffs affects only French and German products. So save the Italian wine. As of October 18, however, an additional 25% tariff is in force on a list of products imported from Italy and the European Union worth around 500 million euros on products such as Grana Padano, Gorgonzola, Asiago , Fontina, Provolone, but also salami, mortadella, crustaceans, citrus mollusks, juices and liqueurs such as bitters and limoncello

The reaction of the affected categories is immediate: the French Federation of Wine and Spirits Producers has estimated an impact of more than one billion in the sector.

Annual balance of the stock exchanges

For Piazza Affari, 2020 was a year in red. The Ftse Mib index based on data as of December 28 registered a 5.2% drop. The Star segment was against the trend, which grew by 13.7%. Trading grew, both in value (+ 9.6% to a daily average of 2,400 million euros) and in volume (+ 35.8% to more than 346 thousand daily contracts). In total, more than 87 million contracts were negotiated during the year and a value of more than 602 billion euros.