RUMORS FROM GERMANY FREEZE THE BAGS
ONLY PLAZA BARGAIN LIMITS DAMAGES (-0,25%)
European stock markets suddenly deflate in the afternoon. After an almost euphoric morning, it was not, for once, the news from Wall Street that overturned the performance of the session, but the collapse of Frankfurt, which lost 1,71%. Minus sign also for London which loses 1,44% badly for Paris which also loses 0,65%, Madrid loses 0,84%. Milan limits damage to -0,25%. The German index lost 4% in just 15 minutes. The reason? According to some rumors, Germany would have lost the triple A for its sovereign debt, an eventuality denied in closed markets: Moody's, Standard & Poor's and Fitch confirm that rating. Other rumors that helped depress the German market: the rumors according to which Germany is preparing to extend the ban on short selling, in force today for financial stocks on all shares of the Dax index. The extension, in fact, was carried out with closed markets. To frustrate the measure, some investors (especially American business houses) would have taken the opportunity to open short positions now, before the ban arrives. In reality, the rumors have been duly denied: a German Consob spokesman says he is unaware of the plan. Germany's finance ministry said it is not preparing a blanket ban on short-selling. But the story is exemplary of the tensions currently affecting the markets, at the mercy, among other things, of political and regulatory authorities too weak to impose themselves on speculation. In Milan, the trend reversal has massively affected energy values: Eni -1,19, Enel -1,71 and Saipem - 1,44%. Fiat +1,42 and Exor +1,71 hold on in positive ground, but not Fiat Industrial -0,91%. On the other hand, both Intesa +1,61% and Unicredit +1,68% are on positive ground, but not Bpm (-3,1%) while the board of directors on the half-yearly report is still underway.
START UP CONTROSSED ALSO FOR WALL STREET
JOBS'S GOODBYE WEIGHTS, BUFFET WAKES UP BOFA
Minus sign also for Wall Street with Dow Jones and Nasdaq falling by 1%. Mixed data on the macroeconomic front. New weekly jobless claims rose to 417 from 408 the previous week and compared to expectations of 405. Continuing requests fell to 3,64 million, less than forecasts that expected them to be 3,70 million. Investors, in the US as in the Old Continent, are waiting to understand whether or not the Fed will launch a new government bond purchase program, along the lines of last year's "Quantitative Easing 2". The appointment is for tomorrow with the intervention of Ben Bernanke at the meeting in Jackson Hole, from which he should announce new measures to support the US economy, which is slowing down. The prospect of help from the US central bank has galvanized operators in recent days, who have returned to buying after the heavy losses of recent weeks: in the last three sessions, the American indices have gained about 5%. In particular, Bank of America climbs 23% on news that Berkshire Hathaway, the investment firm behind which Warren Buffett is behind, will invest $5 billion in the bank The good news is overshadowed by that coming from Cupertino, the headquarters CEO of Apple after founder Steve Jobs announced his resignation as CEO due to health reasons. He will remain president, but the operational role passes to number two Tim Cook. In the pre-stock market, Apple shares lost 4%, after falling 7% yesterday in the after hours. The title weighs 9% of the Nasdaq index. Finally, the words of the spokesman for the International Monetary Fund, according to which global growth appears weaker and more uneven, with deteriorating prospects, do not help.
