As the US celebrates Tax Day and the fact that the average American still has more work days ahead to pay for said taxes European indices closed slightly higher. The skew concerning sectors was to the upside with Telcos leading while Basic Resources slipped. The Energy complex finished off slightly with oil prices lower today.
From this weekend the IMF said global growth was expanding at a slower pace than seen last October. WTO reform needs and trade woes were cited with pledges from members to not devalue currencies to boost trade. They do see a firming of growth next year. Associated with the meeting: North Korea can join if they de-nuke and meet some economic-openess standards, Pakistan has supposedly reached a deal for an IMF bailout package, and Greece is on track to repay €3.7B in IMF loans early.
Daimler -.3% underperformed the space on continued diesel-related investigations with 60k GLK SUV’s said to have been downloaded with emission-test-cheating software. Said vehicles were already in focus within the prosecutor’s probe. In other news the firm is producing an electric SUV with their Chinese partner BAIC.
EDF +3% worked higher with French president Macron considering a partial renationalization of the firm’s nuclear business.
Post the close Unicredit +.7% announced a settlement with the US Treasury, DOJ, and others related to its violations of Iran sanctions. The $1.3B fine is “several hundred million dollars” more than the bank accounted for.
Tonight, China is scheduled to release New Home Prices with the RBA to release their April meeting minutes Down Under. ZEW results are expected in Europe along with UK earnings data.