The performance of the European stock exchanges worsens in mid-morning. Milan follows the other price lists with the Ftse Mib losing 2,17% while the Cac40 in Paris is down 2,1%, the Dax30 in Frankfurt 1,8% and the Ibex35 in Madrid on 1,77 .XNUMX%.
Initially, investors' optimism was depressed by the words of Federal Reserve chairman Jerome Powell, who ruled out the possibility of negative rates and spoke of an uncertain and longer recovery. An unexciting scenario that has found a new brake in the bulletin of the European Central Bank. For the ECB we are experiencing a phase with an unprecedented contraction of the economy, but above all – in line with the Fed – the uncertainty about the timing and extent of the recovery is reaffirmed.
At a sectoral level, the sectors that are paying the most for the day's weakness at a European level are Auto, Insurance and Travel. In Piazza Affari, the Ftse Mib sees the sharp drops of Leonardo (-5,26%) and Cnh Industrial (-5,08%), when also managed savings penalized by sales: Banca Mediolanum -4,3% and Banca Generali -3,69% after quarterly data. Unicredit is down by 4,5%.
