Futures this morning were anticipating a storm, and a storm it was. Piazza Affari, in line with the other price lists, leaves another 3,5% on the ground plummeting below 22 thousand points (-5,2% during the week) on the values of August, at the time of Mateo Salvini's resignation from the government. Paris -3.7% and Frankfurt -3,6% are doing even worse. Same loss for London: the Bank of England is about to cut rates by half a point.
Wall Street futures herald a negative opening: S&P500 -2,8%, Nasdaq -3%, Dow Jones -2%. The travel and leisure index falls by 4,39%, a 20% drop from the recent peak. The damage to the airlines will reach 113 billion euros.
Airbus collapses by about 7%: in February the book of new orders was zero. The fury of the virus does not subside, indeed the contagion is still expanding. Coronavirus infections in the world have only risen to 100 thousand, the deaths are 3.385. This also favors the avoidance of risk:
- Bond yields plummet. The ten-year T bond falls by 0,3%, anticipating a new drop in rates less than a week after the last intervention by the Fed.
- British Gilts also fell sharply (0,246% on ten years).
- The German bund plummets to lows: the 0,738-year bond trades at -2%. , the 0,89 year to – 30%. The 0,30-year term is also below zero at -XNUMX%, a new negative record.
- Target shooting also on Btp. The ten-year yield rises close to 1,2%, the highest since the end of January. The 2 year passes into positive ground.
- The spread flies above 190 points.
- The yield on Greek bonds comes in at +1,39%, +16 basis points.
- Gold, up 2,2% yesterday, gains another half point this morning. In the week the gain is 6%.
- Oil plummets -5%, below 50 euros, to a three-year low. Even though OPEC has taken the decision to announce a maxi cut in production of one and a half million barrels a day, the landslide for Brent oil does not stop. Today it will be known whether Russia will adapt to the coup by Saudi Arabia and the other cartel countries, but even if it were to accept the reduction envisaged by the agreement reached yesterday, according to Goldman Sachs, the situation of imbalance on the markets will not change: the measure will take effect only next month.
- Saipem falters in Piazza Affari -5,7%. Eni -4,4%.
No title is saved among the bankers. Among the worst Ubi -5% and Mps -5,3%. Intesa and Unicredit drop by 3,3%.
In the poorly managed Azimuth -5,7%. Only Poste Italiane is "saved", which in the middle of the day is, albeit slightly, the only share in positive territory, after having published accounts: “The results – writes Equita – are better than expected and the dividend is in line. The 2020 guidance improved by 18% (net profit from 1,1 to 1,3 billion) 6% above estimates”.
Prysmian's -9% thud is impressive. The company closed 2019 with one billion euros of adjusted Ebitda, in line with expectations and with the company's own indications. Net debt at the end of the year equal to 2,14 billion euros. Forecasts for 2020: Adjusted Ebitda between 950 and 1.020 million euros, below consensus forecasts. Atlantia also sinks, always -9%.
In red Leonardo -3,5% and Stm -4%. Ferragamo -4%. Stm -4%. Ferraris -3,7%. Pirelli -4,7%. Tim -4%. The opinion of the Antitrust on the reorganization of the tower sector which also involves Inwit should be released today. Utilities are not doing better: Enel -2%. Italgas -2,5%.
To be noted:
- Geox -11%, has published 2019 data and some indications on the trend of activities in February, in the last week of last month turnover collapsed, both due to a drop in sales and due to the closure of many shopping centers and shops in Northern Italy.
- As Roma stock goes against the trend +7%: the Friedkin deal is in the pipeline.
