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Stock market plunges after Draghi's words, the euro rises

The ECB president bought time on quantitative easing and the European stock exchanges turned red: Milan the worst - The euro reverses course and recovers after days of declines - The spread resists, but in Piazza Affari the banks are in the center of the viewfinder.

Stock market plunges after Draghi's words, the euro rises

Markets disappointed by the words of Mario Draghi, who in the press conference after today's ECB board took time on quantitative easing, limiting himself to announcing an "intervention in the coming months". 

Immediately after the statements of the number one of the European Central Bank, the stock exchanges turned negative: Milano came to lose more than two percentage points, while Frankfurt travels negative by 0,6% e Paris leave 1% in the field. Madrid it yields 1,3%, while, outside the Eurozone, London contains the red at 0,2%. 

On the currency front, theeuro reverses course after days of declines. The exchange rate with the dollar, which this morning had opened at 1,2299, the lowest since August 2012, has now returned to 1,2409.

As for the debt market, lo BTP-Bund spread it recorded a flare above 130 basis points, to then stabilize again at 125. The yield on ten-year BTPs is 2,04%.

Meanwhile, in Piazza Affari, the worst declines are those of bank stocks: Ps (-3,67%), Banca Pop Emilia Romagna (-3,39%), Unicredit (-3,32%), Where's Banca (-3,22%), Intesa Sanpaolo (-2,05%), Banco Popolare (-3,55%) And bpm (-1,7%). 

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