Another day of passion for the European markets. Even today, concerned about the imminent decision of the British people on Brexit, the stock exchanges of the continent are all in negative territory, with Piazza Affari losing more than 1% around midday to around 16.400 points: sales on the other listings are also on the same order of magnitude, from Paris which drops 1,4 % in London which loses 1,3%, up to Frankfurt which does slightly better but is down by more than one percentage point. For the major stock exchanges in the Eurozone it is the fifth consecutive day of decline, for London the fourth.
In Milan the banks are suffering as always, especially the Popolari, but today the managed savings: the profit warning of the Swiss manager Gam on the numbers of the first half puts pressure on asset management stocks throughout Europe which, even in Piazza Affari, travel at the bottom of the Ftse Mib. Mediolanum loses more than 4%, while Anima loses almost 5% and Azimut is close to -2% at the end of the morning. A drop of more than 2%, in any case higher than that of the index, also for Finecobank while outside the basket of blue chips Banca Generali falls by 3,3%. At the bottom of the Ftse Mib also Yoox: -4%.
Among banks the worst are Banco Popolare and Bpm losing between 3,5% and 5%, but surprisingly the only two securities of the Ftse Mib to save themselves around 12 are also bank ones: Mps bounces by nearly a percentage point while also floating in positive territory Where's Banca.
The energy sector is also in difficulty, col Petroleum which today is reported to be declining despite the optimistic forecasts of the IEA on world consumption and production in 2017: Brent and Wti are both reported below 50 dollars a barrel with a decrease of more than 1%. Saipem -1,5%, Eni -1%, Snam -1%, Tenaris -0,8%.
The spread rises dangerously Btp Bund, which today reaches 150 basis points (even reaching 153 by mid-morning). Meanwhile for the first time in history the XNUMX-year Bund yield it plunged into negative territory, reaching -0,002% for a few minutes, before recovering to 0,004%. The euro weakens against the dollar, moving around 1,121 USD compared to the 1,14 reached last Thursday, June 9th.
