The annual bonds placed today 12 October in an auction by the Treasury mark a new peak in yields. We are at the highest level in the last ten years. It is the most prominent theme of the day of the markets which at the end of the morning sees a tired man FTSE Mib close to parity after a negative debut, and settle at -0,39% at 20.649 points. In general, the European stock exchanges today 12 October move on and off, looking at the publication of the minutes. UK government bonds remain under pressure after the Bank of England confirmed its plan to end emergency bond purchases on Friday 14 October. In the morning there had been speculation about extending the facility, after the Financial Times reported that the central bank was ready to extend support to avert a crisis in British pension funds.
Annual Bot Auction, top yields since 2012
New record of the last ten years for the yield of Annual BoTs auctioned by the Treasury. In detail, the MEF has placed 6 billion annual BOTs maturing on 13 October 2023 with a weighted average yield of Present in several = 2,532%, up 44 basis points from last month's auction, marking a new record since July 2012. The amount requested was 8,392 billion for a coverage ratio of 1,40.
The fears of the market that affect the performance of the Stock Exchange in Italy but also in the rest of Europe is precisely that the central banks continue to raise rates aggressively, even in the presence of clear signs of an economic slowdown. The risk of recession, on the other hand, was clearly mentioned by the IMF whose estimates give Italy's GDP down by 0,3% next year.
A nervous day in Piazza Affari: they keep utilities, Campari and luxury
The Ftse Mib sees a majority of stocks negative. In contrast are Campari +1,25%, Enel +0,77% and Hera +0,83%. Moncler scores +2,19%.
Team Enel announced in the morning that it had received from EKF, the Danish Export Credit Agency, a financing of up to 800 million dollars USA. This loan, prepared by Citi, is based on the commercial relationships that the Group maintains worldwide with Danish suppliers and is aimed at supporting, through a flexible instrument, the development of wind energy and at mitigating the effects of climate change, objectives which are part of the "Net Zero 2040" strategy adopted by Enel.
Insurance companies and banks are down, as well as oil companies Eni and Saipem.
Bper falls back - 1,19. In the morning the news arrived that a small shareholder of Carige obtained a sensational sentence: Il EU court annulled the decision of the ECB which had put Carige into extraordinary administration.
