Maximum volatility on the markets, which swerve like drunks at the mercy of the news on the coronavirus and its economic consequences even today. Piazza Affari loses 1,27% e drops to 15.120 points, but limits damage compared to Frankfurt -5,47%; Paris -5,94%; Madrid -3,14%; London -3,97%. Wall Street retreats heavily and is currently recording declines of more than 5% on all lists (Dow -7,42%), starting to close seven sessions in a row on the roller coaster (with declines and increases of more than 4%), a series longer than that recorded in the formidable 1929. Boeing sells 21%, after the request to the government for aid for 60 billion dollars. Meanwhile, the US is closing the border with Canada to non-essential traffic.
Investors are trying to stay liquid, in a situation where nothing seems sufficient to stem the epidemic and the recession. They are not enough the announcements of increasingly consistent measures, with the USA which should bring their intervention to 1300 trillion dollars and with the European Union which, according to Bloomberg, is studying the activation of the European state-saving fund, the Mes, to contain the impact of the crisis on the financial markets and above all on the sovereign debt market, in the light of the strong tensions recorded in particular in the spread between BTPs and German Bunds.
In the morning, the differential between the XNUMX-year bonds had shot up over 320 points basis and the yield on the Italian bond had exceeded 3%. On the other hand, the closure was positive, following the intervention of the Bank of Italy on behalf of the Sebc, so much so that the Italian paper outperformed that of the other European countries and in the end the spread fell to 254 basis points (-5,24% compared to Yesterday).
Investors seek refuge mainly in the dollar, which is trading at a three-year high against a basket of currencies. The euro is trading lower to 1,0836. The pound collapsed to 1,166, a 40-year low.
The plot of this horror film continues with oil: American crude loses 16% and moves around 22,99 dollars a barrel, the lowest for about 20 years. Brent loses 10,65% and falls to 25,67 dollars a barrel. Goldman Sachs analysts estimate a possible drop in Brent up to 20 dollars a barrel in the second quarter of the year, a level never seen since the beginning of 2002. Not even gold was saved, dropping more than 2,5%, moving to 1486,30 dollars an ounce.
Business Square makes use, at least in part, of the intervention of Consob, which decided to ban short selling for three months on all securities, with more stringent obligations, in terms of communication, on the shareholdings in the 48 listed companies with the highest capitalization. The French AMF did the same in Paris for a month, but without having great beneficial effects.
The final photograph of the Ftse Mib see in Campari pink jersey, with a leap of 10,66%. The company confirms plans to transfer its registered office to the Netherlands and announces initiatives to neutralize the possible impacts of the market crash on the operation.
More in great recovery Telecom, +9,94%, favored by a positive trend in the sector in Europe, perhaps due to the need for teleworking. Pirelli rises +7,8%; Snam +5,26%; Amplifon +4,86%; Triad +4%; Enel +2,97%.
Worst blue chip is Stm -13,77%. Strongly negative balance for the Agnelli galaxy: Cnh -13,3%; Exor -12,79%; Fiat -10,85%. Leonardo suffers -9,56%; Nexi -8,4%; Atlantia -5,44%; Mediobanca -5,8%. Among the banks, Banco Bpm is safe +0,04%.
