In a day of passion for all European lists, the Ftse Mib collapses by 2,6% to 22.378 points, the worst stock exchange in the Old Continent with the spread rising significantly by six basis points to 124. However, Paris also closes in strong red -2,06 .2,34% and Frankfurt -0,56% while London contains losses at -XNUMX%. The landslide started from the emerging markets and found support in the Wall Street session which, also depressed due to some below-expected macroeconomic data, is giving ground with increasing volatility.
Even the Athens Stock Exchange closed the session in deep red (-3,5%) also weighed down by rumors about the imminent resignation of Prime Minister Tsipras and the announcement of early elections. Today the ESM approved the first tranche of financial aid to Greece, for 26 billion, and the repayment of 3,4 billion due to the ECB.
In the emerging countries, the collapses do not only concern the share with the Chinese Stock Exchange, Shanghai, which lost a new -3,45 but also overwhelm the currencies that suffer from fears of the Chinese slowdown and the continuous collapse of oil. The declines are particularly marked in Russia Kazakhstan where oil is the main source of revenue for both countries. In Kazakhstan, however, the central bank was forced to release the local currency, the tenge, from its fixed relationship with the dollar and the result was a devaluation of 22% in a matter of hours, down to a record low of 256,98 tenge for a dollar.
WTI oil closed today with a recovery of 1,32% but is still trading below 42 dollars a barrel. The euro-dollar exchange rate rose by 0,76% to 1,1205. Overseas, the Dow Jones lost 1,16% and the S&P500 1,17%. Several macroeconomic data were released today. Existing home sales (+2%) and the Philadelphia Fed manufacturing index, which rose to 8,3, were above expectations. On the other hand, the super-index of the economy in July (-0,2%) and the initial claims for unemployment benefits disappointed.
In Piazza Affari, sales mainly hit Mediolanum -4,7%, Prysmian -4,6%, Finmeccanica -4,12%, Moncler -4% and Enel Green Power -4%. Only two stocks are saved on the Ftse Mib: Stm +0,53% and Wdf +0,20%.
