The political and financial uncertainties are too much and the stock markets react by going down. Piazza Affari, again this morning, fell below 17 thousand points and, at 12, lost 1,37%. Government bonds fluctuated, taking a break from a hypothesis of postponement of the referendum: The differential between the Btp and the Bund drops to 155 basis points from 162 this morning with the rate on the ten-year bond at 1,66%. The other European stock exchanges were also in the red: Madrid -1,31%, Frankfurt -0,91%, Paris -0,74% and London -0,35.
Not even the manufacturing index in Europe warms the spirits, which, in October, rises to 53,5 from 53,3 in September, while expectations were for an unchanged figure. However, in the two main manufacturing countries of the continent, Germany and Italy, the index dropped respectively from 53,5 to 53,3 and from 51 to 50,9, while it was expected to rise. The Germans can console themselves with an unemployment rate of 6% last month, an all-time low since reunification.
On this November 2, the Ftse Mib sinks together with the financials, but also with FCA losing 3,94% after the data on sales in the USA released yesterday, even if today the data for France of the opposite sign is announced: +11,1, 11,3% registrations in October and +4,37% in the first ten months of the year. Among the banks, the popular ones suffer particularly: Bpm -4,42%, BP -3,45%, Bper -XNUMX%.
Mps, after a frightening start, falls by 4,37%%. Apparently there wasn't much to celebrate for Corrado Passera's farewell. Today, in Rocca Salimbeni, the board of directors meets in view of the assembly on the 24th, in videoconference with the CEO Marco Morelli, in New York to present the plan that will have to bring 5 billion euros into the bank's coffers. The tour will continue to London, Paris, Singapore and Hong Kong, before returning to Boston.
Bad day for Unipol (-3,46%), Mediobanca (-2,60%), Unicredit (-2,70%), Cnh Industrial (-3,28%). Going against the trend were Recordati (+1,43%) and Telecom (+0,32%).
Outside the main price list, Stefanel announces his intention to submit an application for admission to the composition with creditors "blank" or "with reserve", a procedure in which he reserves the right to present an appeal for the approval of a debt restructuring agreement. The stock is suspended due to an excess fall in the late morning.
Oil prices continue to fall for fourth day in a row and this afternoon will receive an update on weekly crude inventories in the US.
Meanwhile, a black Wednesday ended for the Asian squares. Tokyo: Nikkei -1,76%; Topix -1,79%. Seoul -1,42%; Taiwan – 1,44%. Hong Kong – 1,45%. In Shanghai, the composite index closes the session with a drop of 0,63% to 3.102,73 points. A similar drop for the Shenzhen Stock Exchange with the index stopping at 2.060,05 points.
The Fed will announce its monetary policy decisions tonight, although the prevailing belief is that the decision on a possible rate hike will be postponed until December.
