Negative start for the European stock exchanges, which were affected by the drop in the price of crude oil and raw materials (after Wednesday's leap) and by the weakness of the Asian stock exchanges. One hour from the start of the exchanges Business Square gets to lose 2%, black jersey of the continent. Lower discounts for Frankfurt (-0,6%), Paris (-1%) And London (-0,7%).
The price of crude oil is down, with the Brent expiring in May at the threshold of 39 dollars a barrel (-0,59%) and the wtf still expiring in May at 37,95 dollars a barrel (-0,97%). Yesterday the jump in the price of oil after the unexpected drop in US stocks and the drop of the dollar against the euro to a 5-month low had pushed the indices upwards: today the achievements in the mining and oil sectors are weighing on the lists.
In fact, the oil companies are doing badly on the Ftse Mib: Saipem -2,75% Eni -2,1% and Tenaris -1,7%.
Even heavier are the rebates of the banks, which travel to the bottom of the list: Banco Popolare -5,19% Ps -4,99% (Bofa-Merrill Lynch downgraded from Buy to Neutral), Where's Banca -3,84% bpm -3,60% Bper -2,82% Mediobanca -2% Carige -2,1% (on the day of the meeting). Down also the big names: Unicredit -2,5% and Intesa Sanpaolo -1,4%.
Limit the damage Telecom Italy (-0,8%) after the appointment of Flavio Cattaneo as new CEO after Marco Patuano.
fca -1,3% after yesterday's leap (+5,8%) still in the wake of the rumors, denied, of alliances in sight with the PSA.
In green on the main price list only A2A (+0,9%), which according to Il Sole 24 Ore has renounced the purchase of a hydroelectric plant in southern Serbia.
On the foreign exchange front, euro slightly down on dollar to 1,133 (from 1,1345 last night) while the ratio with the yen is at 127,40 (from 127,61). The dollar/yen cross was little moved at 112,457 (112,53).
Lo BTP-Bund spread travels slightly up to 107 basis points.
On the macro front, eyes are on data oninflation in the Eurozone.
