Inconsolable markets in the face of a Fed less dovish than expected, with Putin who believes the risk of a nuclear war is being underestimated, while oil plummets: European lists close down and Wall Street falls heavily.
Piazza Affari is the worst, -1,93%, 18.576 points, and leaves the gains made in the previous session on the field. Banks are down (Unicredit -5,01%), despite the fact that bonds remain buoyant thanks to the infringement procedure avoided: the 2,74-year yield falls to 250.70% and the spread passes to 1,38 basis points (-XNUMX, XNUMX%). Tomorrow, during the passage to the Senate, the government will present the maxi-amendment that rewrites the maneuver by incorporating the agreement formalized yesterday with the European Commission.
Sales hit Frankfurt -1,42%; Paris -1,78%; Madrid -1,91%. London limits the damage to 0,79%, with the British central bank not touching the cost of money while waiting to understand what Brexit awaits the British. On the other hand, the first rate increase since 2011 by the Swedish central bank should be noted.
The Federal Reserve also moved as expected yesterday, which raised rates for the fourth time in 2018, but also reduced the increases for 2019 to two, from the three expected. A prudence clearly judged insufficient by investors, who fear a slowdown in the global economy and still see many shadows in the US-China relationship. On the other hand today Vladimir Putin shakes the geopolitical balance and says: "The world is underestimating the danger of a nuclear war". The president points to the "breakdown" of the international deterrence system, exacerbated by the US decision to withdraw from the INF treaty, a fact that "increases uncertainty".
Wall Street is currently in steep decline, while the bond yield curve flattens contributing to the climate of nervousness.
The dollar weakens against major currencies. The exchange rate with the euro is in the 1,142 area. Gold benefits from this, approaching 1260 dollars an ounce. Oil, on the other hand, sank: Brent -4,51%, 54,66 dollars a barrel. The news from Piazza Affari says that the worst blue chip today is Unicredit. Bad Banca Mediolanum, -4,61%, in view of the exit from the Ftse Mib.
In asset management Finecobank sinks -4,57%. Speculators distance themselves from Telecom, -4,59%, in the aftermath of the analysis on the network by AgCom and on the eve of the board meeting on Vivendi's request for a new meeting. Meanwhile, the Council of State accepts the request of telecommunications companies to suspend bill repayments after 28 days.
Oil companies are down with Saipem which, after the positive exploit on the eve, today loses 4,57%. Weak Unipol, -0,79%, which, according to Reuters financial sources, would have selected Credit Suisse as financial advisor to Unipol Banca to work on a possible integration with Bper -1,9%.
Bucking Ferragamo closes, +1,1%; Recorded +1,54%; Diasorin +0,78%; A2a +0,71%; Enel +0,47%.
It is off the main list Ima little move, -0,28%, which discloses the sale to TB Tauris Italia (ing. Thomas Becker) of the 60% stake in IMA Dairy & Food Holding, in the filling business. The value of the transaction is equal to 18 million euros, of which 13 paid today at the closing and the remainder by June 2019.
