The malaise of London (-0,56%), in full Brexit chaos after the ruling of the Supreme Court which canceled the suspension of Parliament wanted by Prime Minister Boris Johnson, infects the other European stock exchanges. The closing is weak, despite the growth of the Ifo index on business confidence in Germany. In the last part of the session, the reversal of Wall Street also weighed down which, after an upward start, is giving in to uncertainty due to the data on consumer confidence, down in September, the negotiations with China on tariffs and the The Fed, which today returned to the field, again through the central bank of New York, with an overnight injection into the financial system of 75 billion dollars against a demand of 80,2 billion.
Piazza Affari is colorless +0,01%, utilities are up, but FCA -2,03% and Juventus -1,87% suffer. Frankfurt loses 0,26%, with Volkswagen (-2,4%) again in the eye of the storm due to the dieselgate. German prosecutors accuse the group's top management of manipulating the market in the context of the emissions scandal that broke out in 2015. Porsche down -2,7%.
Madrid holds +0,28%; flat Paris -0,04%. However, the heaviest weight is on the British capital, after the Supreme Court's slap on the prime minister. Parliament reopens tomorrow, but Johnson shoots straight, does not resign and reiterates that Great Britain will leave the EU by 31 October.
The pound rose and the euro exchanged at 0,882. The single currency is slightly positive against the dollar at 1,1. Gold is starting up again and is currently rising to 1536,1 dollars an ounce. Oil in New York slips to intraday lows after Donald Trump's words about China at the UN. The November contract yields 1,9% to 57,55 dollars. The US president has said he will not accept a "bad deal" with Beijing in the trade field.
Without major changes the spread. On the secondary side, the yield of the 10-year BTP is stable at +0,83%, but the differential with the Bund rose to 143 basis points (+1,16%), due to the increased appeal of the German 0,6-year bond, whose yield falls to -27%. Meanwhile, on the Italian front, the air of auctions is beginning to breathe with the end-of-the-month round which kicks off tomorrow morning with Ctz and Btpei and concludes with the medium-long placement of XNUMX September, the deadline for submitting the update note to the Def .
In the business square they mostly hold the utilities, stocks favored by low interest rates and considered defensive in the event of a recession. Hera, +2,89%, Terna +2,54% are up; Italgas +2,07%; Snam +2,26%; Enel +1,45%. Amplifon +2,77% and Diasorin +2,3% did well.
In black jersey is Fca, after the verdict of the EU Court of Justice, which confirmed the 2015 decision with which the Commission had asked Luxembourg to have Fiat refund the lower taxes paid by the company thanks to an advantageous tax treatment granted by the Grand Duchy. In the sector, Pirelli also suffers, -1,29%. Financials are down: Finecobank, -1,74%; Bper -1,51%; Banco Bpm -1,49%; Ubi -1,12%. Juventus continues to lose ground, after yesterday's crash following the accounts and the announced capital increase.
