After a day spent largely on the edge of parity, the European stock exchanges closed in the red: Milano -1,75% Paris -1,17% Frankfurt -0,61% and London -0,18%. The spread Btp-Bund rises slightly, to 238, while the euro trading at 1,3659 dollars, against 1,3591 yesterday.
The markets have been disappointed by words by Mario Draghi. At the end of the Governing Council which confirmed the reference rate of the Eurozone at an all-time low of 0,25%, the President of the ECB let it be understood that no further measures are imminent to increase the liquidity of the banking sector. A new lter it is possible, but "if we do it, we want to ensure that it is used to finance the real economy, and not to carry out trades", specified the number one of Eurotower. As for monetary policy, Draghi reiterated that he will remain accommodative "for as long as necessary".
At Piazza Affari, the news arriving from Frankfurt weighed particularly on the banking sector. After a morning in great shape, all the lenders turned red: Bper -3,59% Understanding -3,42% Ps -3,17% Unicredit -2,5% Ubi -1,99% Pop Bank -2,51%.
A Mediobanca report also had a negative effect on the performance of bank stocks. According to the analysts of Piazzetta Cuccia, also in the first nine months of this year the two major Italian credit institutions (Intesa and Unicredit) report declining revenues, in line with the European trend, but above all they suffer a significant reduction in net profit due to credit losses.
Other destabilizing factors on international markets have come from United States. Washington today released better-than-expected data on GDP (+3,6% in the third quarter, against +8% in the previous reading) e unemployment benefits (to 298 units, less than the 325 expected by analysts), fueling fears that the Federal Reserve could speed up tapering, ie the progressive reduction of stimuli to the economy. For the president of the Atlanta Fed, Dennis Lockhart, it could be decided to start the cut again this month, during the next meeting of the central institute.
In the morning in Milan, investors' attention had been catalysed by the either-or of the Brazilian Antitrust (Cade) against Telefonica: the share of Telecom Italy it fell to the bottom of the Ftse Mib, dropping more than three percentage points, to then recover slightly during the afternoon and close at -2,63%. "Telecom Italia sells Tim Brasil or Telefonica exits Telecom Italia," said Cade chairman Vinicius Marques de Carvalho, according to a statement cited by the Wall Street Journal.
The worst title of the day was therefore that of Fiat (-3,7%), which gained yesterday by taking advantage of the good sales performance of Chrysler in the USA. The most purchased shares of the day were instead those of Fonsai (+2,3%). In contrast too Rest (+ 1,52%) and Gtech (+ 1,13%).
