APOCALYPSE ON THE LISTS. MILAN LOSES 3,9%
ZERO EMPLOYMENT GROWTH IN THE USA
An apocalypse climate returns. The bad US employment data unleashed a sell-off in all markets, including Italy. At the end of an afternoon of pure fear, Piazza Affari leaves more than 610 points on the ground: Ftse / Mib index at 15060, - 3,89% (but it has also gone beyond 4%), in line with the Paris landslide and Madrid (-3,2% and - 4%) and London (-2,7%). Frankfurt settles at -3,33%. At Piazza Affari the balance is worthy of a war report. Stocks most linked to the economic cycle fell: Fiat -4,98%, Fiat Industrial -4,16%, Exor -6,3% Pirelli -5,7%. Prysmian - 5,68%, but also the cement sector suffers: Buzzi -6,47%, Italcementi -7,1%. However, banks and insurance companies are also doing badly: Generali -4,85%, Intesa -4,82%, Ubi -6,48%, Banco Popolare -5,50%, Unicredit - 5,33%. The only title in the main basket that closes in substantial parity is Bulgari (+0,08%) .
BTP/BUND SPREAD AT 325. THE 5,239-YEAR AT XNUMX%
OIL COLLAPSES, THE SWISS FRANC SPLASHES
In short, a bit of everything was sold, from securities linked to the economic cycle, especially cars, up to financial values. The result is a deep red, on the eve of a crucial week both in the USA (presentation of Obama's work package to the Chambers), and above all in Europe: Sunday we vote in Mecklenburg, with ugly prospects for the coalition led by Frau Merkel: Thursday the directorate of the ECB will take stock of rates, aid to Greece and interventions on Btp and Bonos. Meanwhile, the dam of public debt creaks. The 5,239-year yield rose to 325%, the spread with the German Bund widened dangerously to 1,1087 basis points. The race for investments deemed "safe" is accentuating, such as the Swiss franc, which literally took off and is trading at 1,1344 against the euro, from 6 at the previous closing. In three sessions it rose by 1,425%. On the other hand, the euro/dollar exchange rate was stable at 86. But, to confirm the air of recession that is once again blowing violently on all markets, here is the sharp drop in crude oil (Wti at 3,4 dollars -2,7%) and the increase in gold + 1.876% at $XNUMX an ounce.
OIL AND BANK FALL ON WALL STREET
BEACON OF THE ELECTRONIC TRADING AUTHORITY
New occupation equal to zero. This is the worst-than-expected result of US labor market statistics for the month of August. Forecasts indicated a possible increase of 60 jobs. On the contrary, the hand of new employment has not moved as well as the percentage of unemployed: 9,1%. In addition, the figure for July has also been revised downwards: there were only 85 new jobs, not 117 as already announced. A cold shower in view of the Labor Day that Barack Obama will celebrate in Detroit, the homeland of the car which so far marks its most important if not only victory on the front of the economic crisis. The American Stock Exchange reacted with sharp declines dragged down by oil companies, banks and industrialists: Dow Jones -1,9%, S&P500 -2,2%, Nasdaq -1,7%. The anticipation of the New York Times on a forthcoming lawsuit against a dozen banks by the Federal Housing Finance Agency, the agency that supervises the American mortgage market, also weighs on the banking sector. The authority challenges institutions, including Bank of America - 6%, JP Morgan -3,4% and Deutsche Bank - 4,5%. Of note is the news that the US Regulatory Authority, in an unprecedented move, has decided to ask companies operating with automated systems of high frequency trading (high frequency trading) to reveal their trading strategies, and in some cases the secret codes of their computer systems.
