The Korea syndrome is destined to mark the situation of the markets at least until August XNUMXth, the final term of the feared attack threatened by Kim on the island of Guam. The price lists have taken note of this by accelerating the march, albeit controlled, towards safe-haven assets. As a result, the stock markets drop. TO Milan the Ftse Mib index fell by around 1,4% around 21.300 points. In red the other Bags: Paris -1,23%, similar discounts for London e Madrid. Frankfurt limits damage to 0,6%.
On the foreign exchange front, the single currency it recovered a few points on the dollar compared to the closing date on the eve and changed hands at 1,1751 dollars, remaining weak against the yen at 128,105. The Japanese currency is considered more defensive in this phase of market uncertainty and the greenback is worth 109,003 yen. Morgan Stanley analysts have raised their estimates on the euro, forecasting an appreciation of the single currency to 1,25 against the dollar in the first quarter of next year as well as reaching parity with the pound for the first time.
It starts again the rush for safe-haven assets such as gold, up 0,2% to 1.288 dollars/ounce. An invitation to buy gold, as a form of hedging, came in tonight from Ray Dalio, one of Wall Street's top investors. The chairman of the Bridgewater fund, the largest in the world, warns that market risks are on the rise, even net of the Korean crisis.
The demand for it also rises bond: the yield on the 10-year Bund falls to 0,38%, its lowest since the end of June. Btp at 2,04%, the spread widens to 168 basis points. During the week, the differential reached a minimum of 152 basis points.
According to the final data of Istat, in July the Nic index of consumer prices recorded a change of +0,1% on the month and 1,1% on the year. The price increase acquired in 2017 is 1,2%.
Oil, on the other hand, is down. Brent fell by 0,6% to 51,5 dollars a barrel (yesterday it lost 1,5%). In Milan Eni -0,8% Saipem -1,6% Tenaris -1,8%.
Among the blue chips of Piazza Affari the most targeted by sales is stm (-4%), which suffers the effects of last night's fall in the tech sector on Wall Street.
Widespread losses also among industrialists. Goes down Leonardo (-1,5%) despite new orders in Brazil for light helicopters: thanks to the forthcoming deliveries, the former Finmeccanica confirms its leadership on the world market for twin-engine VIP helicopters with a 50% share. Below Fiat Chrysler (-1,3%) And Cnh Industrial (-2,8%). Bad too Classic Ferrari for sale: -twenty%.
Telecom Italy marks a decline of 1%. Consob asked the members of the board of statutory auditors for details on the role played by Vivendi in the group. Telecom Italia has until August 23 to integrate the document already provided to the government in which, on the basis of the opinion of the jurists Sabino Cassese and Andrea Zoppini, denies that Vivendi has de facto control and in which he rejects the hypothesis that the government can appeal to the "golden power". At the same time, the five members of Telecom Italia's board of directors elected by funds would have asked for a discussion on the company's governance to be included on the agenda for the next meeting (in early September).
Mediaset -1,1%. The decline also dominates among financials. Entente drops by 1,5%, Unicredit -1,3% Bpm bank -2%. Backtrack by Generali (-2,2%) And Unipol (-2,4%).
