Two thousand points burned at the opening, or a loss of about 11%. There Brexit storm it hits Piazza Affari, which collapses below 16 thousand points. London loses 4%, Frankfurt 7%, Paris 8,5%, Madrid more than 11%, Athens more than 14%.
In Milan, in the first half hour of trading, most of the stocks struggled to raise prices and many were suspended due to excessive downtrends. Especially the banks: at 9,30 no one had marked a price, with theoretical discounts in some cases over 20%. Until at least 10 in the morning almost all the sites with stock market updates were stormed making it very difficult to verify the data.
The Btp and Bund spread is shot up to 191 basis points (from 130 at yesterday's close) to then fall back below 170 to 165 points. The run on safe-haven assets triggered a wave of purchases on Bunds, causing the German 10-year rate to fall to an all-time low of -0,17%. The German 0,12-year yield then climbed back to -200%. The gap between the 173-year terms of Spain and Germany came close to XNUMX basis points and has now narrowed to XNUMX points.
even the Petroleum accentuates the decline after the yes to Brexit. The WTI barrel is now down 6,35% below 47 dollars while Brent in the North Sea is down 6,4% to 47,65%.
The currency markets were especially shocked after the vote that saw the United Kingdom vote in favor of Brexit. The pound remains down 10% against the dollar at 1,33. It's about the worst result for over thirty years. The British currency is also down by more than 6,6% against the euro. The euro is also weak following London's exit from the EU. The single currency drops below 1,10 (1,0984) and to 111,56 against the yen, another safe haven currency in these moments.
