Market Information Monday 31 March 2025

Escalating trade tensions continue, with President Trump set to impose new tariffs—including a 25% duty on foreign cars—which could severely impact Europe’s automotive sector and trigger EU retaliation. Investors are watching key economic indicators and central bank decisions this week, particularly from the Reserve Bank of Australia, while the earnings season quietly transitions into a new round, starting with Tesla.

The previous week was challenging on the Amsterdam Stock Exchange, echoing the tech sell-off on Wall Street. Financials had mixed results, though optimism remains for European banks, and Shell gained after announcing a boost to its dividend payout. ArcelorMittal was the biggest loser due to trade tariff concerns.

The previous winter left Europe’s gas storage unusually depleted, with one third of reserves remaining after the first truly cold season since Russian pipeline cuts, made worse by halted flows via Ukraine. Traders normally refill storage during summer, but high summer prices compared to winter have removed the usual profit incentive, raising uncertainty about who will step in to ensure gas levels meet EU rules. Governments may need to act fast, as delays could leave the region vulnerable to price spikes next winter if storage targets aren’t met.

The 6M Euribor is unchanged at 2.38% compared to previous business day. The 10Y Swap decreased with 4 basis points to 2.65% compared to previous business day.
In the attachment, today’s market data on money and capital market rates as well as other rates are presented.