Volatile afternoon for the European stock exchanges, which one hour after the closing touch the lows of the day in the wake of the worsening of Wall Street. In the end Business Squarei contains the damages, - 0,49%, at 22.289 points. Similar London, -0,44%. They remain deep red, but rise slightly from the lowest point Frankfurt, -1,77% Paris -1,39% Madrid -1%. The fear of terrorism contributes to increasing uncertainty throughout the day, with a supermarket bombing in southern France.
Wall Street tries to rebound at the opening, then nervousness takes over. The tech sector remains weak e Facebook can't get back on top. But Dropbox debuts in the best possible way, with the stocks rocketing to over $30 from the $21 placement and eventually gaining 35%.
It hangs over the markets like a storm cloud trade war initiated by Donald Trump and destined to strike above all China, Russia and Japan. For now, the EU, Argentina, Australia, Brazil, Canada, Mexico and South Korea will not suffer the duties on aluminum and steel, because the president of the United States has formally approved the measure of exclusion from the tariffs, but only until next May 1st . Geopolitical tensions are exacerbated by the appointment of John Bolton as National Security Advisor, with the risk of canceling the Iranian nuclear deal which would open up the prospect of sanctions against oil sales by Iran, which has just returned to the free market.
To finish at midnight in the US you risk the third shutdown of 2018Trump threatens to veto the $1.300 trillion budget proposal approved overnight in Congress because it doesn't include the funding needed to build the wall along the US-Mexico border.
The situation favors safe haven assets such as They, which earns 1,07%, rising to 35,1 euros per gram. The Petroleum travel uphill, with the Brent which moves in the area of 70 dollars a barrel. The euro recovers positions against the dollar and the exchange rate is currently 1,23543.
The bond improves its appeal: the yield of BTP 10 years shows a slight decrease, 1,79%, lo spread with the Bund narrowing to 126.20 basis points, -0,47%.
In Piazza Affari, purchases reward utilities such as A2a +1,86%. In strong recovery triad, +1,6%, with the market starting to appreciate the plan presented yesterday. The best performing big cap is Leonardo +2,04%. goes back Ferragamo + 1,36%.
Sales flood Stm, -4,08%. The semiconductor sector in Europe and on Wall Street is negatively affected by Micron Technology, despite the quarterly better than expected.
For duties and related policies, losses are heavy for the second day in a row for Tenaris, -4,05% and the automotive sector, Brembo -2,3% Fiat -2,03%; Ferrari -1,92%. Bad Telecom -1%, at the center of a dispute between Vivendi and the Elliott fund. The American fund believes that the resignation of directors indicated by the French is a "cynical and selfish" action, done to gain time.
Fight the banks: good Unicredit +0,67%; Ubi +1,58%. They raise their heads Monte dei Paschi +1,82%; Banca Carige +1,23%; Valtellinese credit + 1,75%.
