The fall of the Stock Exchanges is becoming increasingly violent, intimidated by the prospect of a rise in US interest rates. The worst day since June is looming. TO Business Square, in the middle of the day, the Ftse Mib index showed a decline of 2,68%, ahead of Madrid (-2,3%). Paris e Frankfurt they drop 2%. London drops by 1,5%.
The Treasury has awarded all of them in the auction the 6,75 billion euro of the one-year Bot with rates rising to -0,175% from the -0,190% of the placement in August. Demand reached 9,693 billion. The yield of the ten-year BTP has risen to 1,30% but the spread remains around 126 basis points. The 0,04-year Bund, back to a positive yield, is trading at +0,02%, from +0,11% on Friday and -XNUMX% a week ago.
All sectors are in red. The heaviest are Raw Materials and Chemicals, with declines close to 3%. Banks drop 2,9%. The German loses the most in the energy sector e.on (-13,7%), after the spin off of the Uniper division.
Futures a Wall Street they anticipate a start down by half a point this afternoon as well. Today in Chicago there will be a public speech by Lael Brainard, the last Fed governor to give a public speech before the blackout period ahead of the FOMC meeting.
The change euro/dollar it is little moved at 1,125. Petroleum down with Brent losing 1,1% to 47,6 dollars a barrel. Brent crude gained 2,5% overall last week despite -4% on Friday.
Eni -2,90%. Also weighing on the action are the statements of the CEO of the state oil company KazMunayGaz, who said that the production of crude oil in the gigantic field of Kashagan, in Kazakhstan, will begin in November, therefore slightly later than in October indicated above. More specifically, crude oil will begin flowing on September 24 and will reach commercial volumes in early November. Tenaris -2,9% Saipem -4,5%.
Among the banks of Piazza Affari, Unicredit loses 4,4%, Understanding -2,9% Mount Paschi -3% Banco Popolare -4% Ubi -4,4%. in Frankfurt Deutsche Bank down by 3,7%, the French Société Générale loses 3,3%.
The general negative climate weighs on insurance companies, despite the fact that the rate increase should be considered positive for the business. Generali loses 3,3%, Unipol -4,5% UnipolSai -3,3%.
The performance of asset management is heavy: Azimuth drops by 3,8%, Anima -4,8%.
The discount does not save Telecom Italy (- 4,2%), Mediaset (-2,9%) ed Enel (-2,3%).
Heavy industry headlines:. StM -2,7% Leonardo -2,5% Fiat Chrysler -3,3% ed Exor -4,1%.
