The Treasury has placed all the seven billion Bots in 12 months in today's auction with yields down slightly to 5,952% from the record 6,087% of the last auction last month. The spread between the BTP and the Bund flies to 453 points, despite the positive outcome of the offer which coincided with the Bot day without purchase commissions. The 6,61-year yield rises to XNUMX%. The bags meanwhile they travel in negative territory.
In Milan, the FtseMib index falls by 1,8%, London loses 0,6%, Paris -1,3%, Frankfurt -1,3%. Disappointment with last week's European Council decisions continues to prevail among investors. There are many positive reviews, but the critics prevail and among them it stands out Moody's that has announced this morning than in the first quarter of 2012 will review the ratings of EU countries because there weren't those “decisive political measures” to counter the euro crisis.
Added to this the fear of a slowdown in the Chinese economy. In November, Beijing's exports grew by only 13,8%, the lowest rate since 2009. Returning to the European stock markets, the greatest decline concerns the more cyclical sectors: raw materials -1,7%, cars -1,6, 1,3%, construction -XNUMX%. In Milan it stands out the landslide of Fondiaria-Sai -5,2%. The company could decide shortly on a capital increase or the issue of a loan convertible by the subsidiary Milano Assicurazioni down by 4%.
Tensions on sovereign debt are reflected in the banks: Intesa -1,6%, Unicredit -2,9%, MontePaschi -5,6%. Banco Popolare -3,2%. Bad morning also for industrialists. Among industrial stocks, Fiat fell by 2,8%, Fiat Industrial -3,3%, Prysmian -3%. Pirelli rises by 0,5% and is among the few positive stocks. Enel loses 2,4%, Eni drops by 2%. Big decline of Terna - 6% after the document of the Energy Authority on new tariffs. Snam Rete Gas -1,8%. Male Mediaset -3,1%.
