Day of tension on the markets after the collapse of Deutsche Bank. Last night, with European stock exchanges already closed, a Bloomberg article citing a bank document claimed that ten hedge funds withdrew cash and collateral from the German institution, moving their operations to other intermediaries. The blow is now affecting the entire banking sector while the markets fear the return of a systemic crisis.
Also yesterday, the other German bank in the spotlight, Commerzbankannounced a job cut of over 9 and a halt to the dividend. In this context, with the banks dictating the mood, it is clear that the Ftse Eb marks one of the worst performances with a drop of 1,64%. But the sales have also extended to other sectors and all of Europe is suffering: the Eurostoxx loses 1,62%, Paris -1,62% London -1,14% and Frankfurt -1,33% (Deutsche Bank opened down 7%). In Asia, Hong Kong -1,86%, while Shanghai +0,21%.
Thus the purchases on the Bund and the spread with the BTP, it rises by 1,65%, to 135 basis points (yield on the 1,21-year BTP at XNUMX%).
The pressing for is growing a state intervention in support of Deutsche Bank, but Berlin is holding out for now. John Cryan, chief executive officer of Deutsche Bank, argued in a letter to staff circulated by international agencies that the bank has never had such a strong balance sheet in the last twenty years and that there is "no basis" for media speculation on the customer abandonment.
In Piazza Affari the suspensions affect the bankers who end up at the bottom of the Fste Mib. Unicredit -4,57% Bper -3,23% and Ps -3,13%. Ubi it dropped 2,46% on the day in which the Board has the ECB's requests on the table for the purchase of good banks.
Today a spokesperson forEuropean antitrust he indicated that there is still no decision on the extension of the deadline for the sale of the four institutions resulting from the resolution of Banca Marche, Banca Etruria, CariChieti and CariFerrara. But he added that "the Commission can see good reasons to accept a postponement".
Down too Telecom Italy (-2,62%). Positive on the Ftse Mib only stm (+ 1,79%) and Tenaris (+ 0,96%).
On the macroeconomic front, data on theeurozone inflation which rose by 0,4% in line with expectations and at the highest levels for two years. Good news also for Italy, where the figure has started to rise again, even if only by 0,1%, after seven months of trend declines.
Now all eyes are on the data that will be released overseas in the afternoon: inflation with the Personal consumption expenditure price index, expected then by the Chicago Pmi, personal income and consumption expenditure for August and the consumer confidence of the University of Michigan.
Il Petroleum it lost more than 1% with Brent at 48,4 dollars a barrel (-1,7%) and Wti at 47,24 dollars a barrel (-1,21%). The exchange euro Dollar dropped 1,41% to 1,1175.
