STORM ON GOLD AND OIL PRICES
BTP ITALIA FILL UP, MORATTI SCORES: WITH SARAS
Oil prices fall, gold plummets. There international finance it is hit, surprisingly, by a sort of earthquake caused by the effects of Japan's maneuvers and by the slowdown of the Chinese domestic product which is reflected, multiplied, on the values of commodity stocks.
After falling 5% on Friday, gold is losing today another 6,4% to 1.388 dollars an ounce. Brent marks a drop of 2% to 100,9 dollars a barrel, Wti loses 2,9% to 88,6 dollars.
It also moves back American stock exchange: Dow Jones -0,45%, S&P500 -0,76%, Nasdaq -0,68%.
Weighing on the market is the weak growth of China and the series of disappointing data onUS economy.
The index Empire manufacturing, which gives an indication of industrial activity in New York State, fell to 3 in April from 9,25 the previous month. Economists had forecast it at an average of 7.
Against this background, the European Stock Exchanges are currently recording only relatively modest declines.
in Milan theFtseMib index drops by 0,96% to 15628. London falls by 1,1%, Paris -0,64%, Frankfurt -0,43%. Madrid -0,33%.
THEeuro it is stable against the dollar at 1,306 (1,311 at Friday's close).
Sul government bond market the situation is stable: the spread is unchanged at 307. The yield on the 10-year BTP is 4,32%.
The placement of the new BTP Italy indexed to national inflation: requests exceeded 9 billion on the first day.
The placement will continue until next Thursday, subject to early closure if the Treasury deems excessive demand. The definitive rate of the security maturing in April 2017, whose real coupon rate was set at 2,25% on Friday, will be announced at the end of the order collection period and cannot be lower than the coupon.
In addition to the decline in commodity stocks, the losses in the auto sector, linked to the slowdown in Chinese GDP, weighed on European stock markets. Volkswagen and BMW, the most exposed on the Asian market, lost 2,4% and 1,6% respectively.
In Milan Fiat drops by 4,21%, Fiat Industrial-1,8%, Pirelli -2,3%.
The trend of the banks. These, after a rebound, closed down: Unicredit lost 1,26%, Intesa +0,81%, Banco Popolare -0,26%. Mediobanca which rises by 1,4%, MontePaschi +1,06%.
Among the insurance Generali loses 0,38%. Fondiaria-Sai is tied: from 17 April the stock will enter the basket of the FtseMib index.
In Piazza Affari, the discounts among the blue chips are widespread with few exceptions. Standing out among these is Lottomatica which gains 2,26% after winning the tender for the management of the lottery of the US state of New Jersey.
The drop in crude oil is felt on Eni -1,1% and on the other oil stocks. Saipem -1,4%, Tenaris -1,2%.
They hold the utilities well: Enel shows a slight drop of 0,38%, A2A rises by 0,64%, Enel Green Power +0,13%.
Telecom Italy it dropped 3,23%.
Among the small caps, Rcs drops by 6%. On the contrary, Saras flies +7,12% after the sale of a 13,70% stake to the Russians of Rosneft.
