THE SPREAD NAILED TO 351, STOCK MARKET -2,2%
BERLUSCONI IS GOOD LIKE THIS: MEDIASET +2,05%
Piazza Affari remains by far the worst stock exchange on the planet. The spread remains nailed to 351 bp, but the good start of Wall Street allows to recover some positions.
The Ftse Mib index closed at -2,21% at 15.352 points, after having dropped down to 15.104 points (-3,5%).
Only Madrid -0,86% is in negative territory. Paris and Frankfurt rose by 0,08%, Frankfurt +0,13%. on Wall Street the Nasdaq rose by 0,52%, Dow Jones +0,21%, S&P +0,18%.
The return to the field of Berlusconi and the announcement that the Monti government will resign as soon as the Stability Law has been approved has in any case triggered strong sales on everything that is Italy, starting with the BTPs.
Lo spread with the Bund on 10-year maturities it widened by 30 basis points to 351 basis points: during the session it had risen to 360 basis points. The differential on the 2-year maturity is 236 basis points (+35 basis points).
Conversely, the Greek government bond spread fell below 1.200 for the first time since August 2011: the buyback collected securities for a total of 26,5 billion euros, paying them 33,4% of the face value .
For bank stocks it was a Caporetto: Unicredit -5,15%, Intesa -5,15%, Monte Paschi -5.85%, Ubi -4,49%, Banco Popolare -5,61%.
The landslide accentuated the black day of credit at the European level. The sector index loses 2,6%. Société Générale and Deutsche Bank are under fire, both -2%. In Madrid Santander -2,4%.
Insurance companies and asset management companies are not much better: Generali -3%, Mediolanum -5,98%, Fondiaria-Sai -4,7%, Unipol -5%.
Utilities are also sinking: Atlantia -3,15%, A2A -3,69%, Enel -1,9%, Enel Green Power -3,8%.
Telecom Italy loses 3,26%.
The strength of the decline does not change when switching to industrial stocks: Fiat -3,45%, Finmeccanica -2,15%.
The exception is StM which rises by 4,23% after presenting the new industrial plan whose strong point is the exit by 2013 of the St Ericsson joint venture, which produces chips for mobile telephony. Autogrill +1,51% and Tod's +0,53% are also in positive territory.
But the most curious note concerns Mediaset +2,05% after a day of ups and downs.
