The bearish fury on the markets does not subside. In Piazza Affari, the Ftse/Mib index falls by 3,06% to 17.008. Paris loses 2%, Frankfurt -2%, London -1,8%, Madrid -1,34%, Zurich -2,71%. On the government bond market, there was a drop in the 10-year BTP, with the yield rising to 4,04% and the spread widening by 13 basis points to 261.
Bear start also on Wall Street, now recovering: the Dow Jones falls by 0,13%, S&P - 48%, Nasdaq -0,24%. The slowdown in Chinese industry scared investors. Ben Bernanke's caution, the collapse of Tokyo (-7,32%) and the slowdown in the PMI index (purchasing managers) of the Chinese manufacturing sector, calculated by HSBC, which fell in May, created a rebazzizta mixture of rare effectiveness. Against this backdrop, risk aversion is regaining strength. Gold rose to 1389 dollars an ounce (+11,4%) and the euro depreciated against the franc to 1,2480 from 1,2579 yesterday evening.
The single European currency strengthened against the dollar to 1,288 from 1,285 yesterday thanks to the unexpectedly good news from the economic front. The Markit PMI on Eurozone Purchasing Managers' Expectations rose to 47,7 from 46,9 in April while the consensus expected 47,2. 'industry. In Piazza Affari, 40 out of 40 blue chips are in decline with losses distributed evenly among the various sectors. Among the banks, Unicredit drops by 3,93%. This morning the managing director, Federico Ghizzoni, said that the trend of the second quarter is in line with that of the first. Understanding -4,31%, MontePaschi -3,7%. Ubi loses 4,54% and BancoPopolare 4,18%, Mediobanca 4,84%. The EuroStoxx index of European banks is down by 3,4%. In asset management, Azimut -2,97%, Mediolanum -4.11%.
Among the insurance companies, Generali fell by 3,28%, Fondiaria-Sai -3,1%. Fiat is down 4,06%, in line with the Stoxx index of automotive companies. StM loses 3,5%, Finmeccanica -3,39%. Pirelli-3.63%. Enel loses 2,2%. According to rumors, the company is preparing to issue a 2 billion euro hydro bond. Eni-2,6%. Oil falls: Wti at 93,4 dollars (-1%). Telecom Italia-1,66%, this morning S&P announced that it had revised its rating downwards. The company's board of directors is meeting today, the issue of the spin-off of the network should be on the agenda.
