A volatile and mixed day for the European stock exchanges despite the green light from the European Court of Justice for the purchase of government bonds by the ECB. Milan collapsed in the afternoon and closed down by 1,59%, Paris -1,56% weighed down by utilities and Arcelor Mittal, Frankfurt -1,25% affected by sales on Thyssenkrupps. Madrid -1,2%. London yields even 2,35% affected by the shares of mining companies, a sector on which the day's sales were concentrated.
The Btp-bund spread closed down at 130 points. Today Germany auctioned 10-year Bunds for 4,122 billion with interest rates at new historic lows, at 0,52 per cent. Against an offer of 5 billion, there were requests for 5,547 billion.
In Europe, industrial production grew by 0,2% in both the Eurozone and the EU in November compared to October, when it grew by 0,3%. However, the freeze came from the World Bank which in its semi-annual report cut its global growth estimates: in 2015 the economy will grow by 3% from the previous 3,4% and in 2016 the GDP will rise by 3,3% from 3,5. XNUMX%. According to the IMF, the international economy is too dependent on the United States alone.
However, the mood of the markets is no different from Wall Street which fears a global slowdown. At the end of Europe, the Dow Jones lost 1,52%, the S&P500 1,25% and the Nasdaqlo 0,93%. The euro-dollar exchange rate rose by 0,22% to 1,1799. The giant Jp Morgan has released data for the fourth quarter of 2014 which closed with a net profit of 4,93 billion dollars, down 6,6% compared to the same period of 2013. Earnings per share amounted to $1,19, below the $1,31 expected by analysts. In the quarter, the bank set aside 840 million for credit losses and recorded legal costs of 990 million. CEO Dimon thundered that the bank is "under attack" by regulators.
US price lists are also affected by US data on retail sales and import prices. Retail sales fell by 0,9% in December, well beyond the 0,2% decline expected by analysts. This is the worst monthly performance since January a year ago. For the whole of 2014, retail sales increased by 4% (4,1% in 2013), the smallest increase since 2009. However, a result that strongly depends on the drop in energy prices: if we do not see the drop of petrol sales, retail sales recorded an increase of 4,8% in 2014. Import prices also fell in December, falling by 2,5% more than analysts' expectations. Corporate inventories increased in November, registering a rise of 0,2% compared to the 0,3% expected. Weekly oil inventories climbed 5,389 million barrels to 387,782 million. WTI oil closed up 0,15%. Tomorrow Russian President Vladimir Putin will meet Venezuelan President Nicolas Maduro in Moscow to discuss the development of bilateral cooperation, with the implementation of major projects in the energy, agriculture and industry sectors. However, the fall in oil prices is also on the agenda, seriously affecting both countries.
In Piazza Affari, sales of oil products with Eni losing 2,95%. However, the worst stock in the Ftse Mib is Buzi Unicem -4,75%, followed by Moncler -3,78% and Prysmian -3,09%. Only three blue chips are in positive territory, led by the rise in BPM +1,77%. Today Consob announced that Norges Bank, the Norwegian central bank, has held 2,008% of Banco Popolare's capital since 8 January. Ubi Banca +0,46% and Tod's +0.26% also did well.
