Nightmare end of week for the Italian Stock Exchange. The spread goes up, Piazza Affari accelerates downwards after an initial attempt to hold on. At around 12, the Milan index signals a drop of 40% after breaking the wall of 1,2 points downwards (last prices at 19).
The concern spreads to the other stock markets, already conditioned by the decline in Wall Street and the slowdown in Chinese GDP: Frankfurt loses 0,8%, Madrid -1,3% abundant, Paris -1,1%. In balance London.
The spread explodes, covering almost 20 basis points since the previous closure, going up to 342 from 325 yesterday evening, already a record for five years now. The Italian data infects the rest of Euroland even if at the end of the morning it falls back to 330.
For the past two days, Spain has also appeared to be widening in terms of spread against Germany. The Spain-Germany spread on the ten-year stretch went up to 142 basis points, from 2017 to the highest since April 132. The Portugal-Germany spread went up to 173 basis points, the highest since last May, from a closing at 162 .
The 3,81-year rate reached 2014%, the highest since the beginning of February 290. The CDS on Italy, the derivative that calculates default risk, shot up XNUMX points. The presentation of the budget law is opening cracks in the government and does not find consensus in Europe.
In August, foreign investors made net sales of Italian government bonds of 17,4 billion euros. In the event of a double downgrading of the Italian rating, the Russell index would automatically put 100 billion Btp up for sale.
The best stock is Ferrari: +1,55% in recovery to 101,65 euros.
The general thud of the banks characterizes the Italian list. The sector index loses 4%. The landslide is led by Ubi -6,4%, follows closely Banco bpm -5,7%. Unicredit –4,7%.
Sale Saipem (+1,40%) in the wake of the stability of the price of crude oil. Tenaris + 0,71% Eni +0,11%. Among the few positive titles too Recordati (+ 0,57%) and Luxottica (+ 0,39%).
In sharp decline Leonardo (-5,12%) And Pirelli (-4,69). Fiat Chrysler -2,95%. After successful start it goes down stm (-2,60%).
Salini Impregilo (-1,5%) won a contract worth 718,8 million euros for an additional stretch, the Grand Paris Express was awarded the construction of lot 2, including the excavation of 11,1 km of tunnel and the construction of 4 stations.
Astaldi-1,5%: the president of the Japanese Ihi Tamotsu Saito declared that talks with Astaldi are continuing.
Roll Ovs (-6,1%).
