It took less than an hour to reset yesterday's rebound. In the middle of the day Business Square loses 4,7%, black jersey among the main European stock exchanges behind a Frankfurt (-2,2%), Paris (-3,1%) And London (-2%).
Uncertainty therefore returns to reign supreme and to heavily penalize the shareholder afterwards the words of Fed number one Janet Yellen, who yesterday, while confirming the accommodative monetary policy, underlined the risks to global growth deriving from China and low inflation. The slip of Hong Kong (-3,87%) is another factor weighing on investor sentiment, ahead of the reopening of Shanghai and Shenzhen on Monday after closing for a week for the Chinese New Year.
The equity sell-off hits i banking, With the 'Eurostoxx sector which drops 6%. In Piazza Affari it collapses Ubi in volatility auction at -16,54% after the data. Mediobanca loses -8,5% despite positive accounts, while Banco Popolare drops by 7,8%. Mps still targeted (-7,7%), but not even the big names are spared: Unicredit -8% Understanding -5,5%. Obviously, that wasn't enough for the markets the decree on banks launched yesterday evening by the government, which, among other things, contains the rules for the creation of new bad banks.
Ditched by sales too Telecom Italy (-5,9%), Generali (-6,6%) And Cnh (-7,5%). Saipem (+0,14%) stops at the levels seen on the eve of the last day of the capital increase.
In Paris, sharp slip for Société Générale (-14,5%, to 26,86 euros). The French bank closed 2015 with a profit of 4 billion (+49,3%), but the fourth quarter was lower than market expectations. In addition, the institute did not confirm the target of a 10% Roe by the end of the year due to "increased capital needs" and the economic and financial situation.
In this context, the Petroleum falls again (Wti at 29,15, down by 1,72%), while theeuro it strengthens against the dollar well above 1,13, at 1,1329.
On the debt market, it spread between BTPs and Bunds it climbs back to 161 basis points.
