Start of the week on the rise for the European stock exchanges. In Milan, the FtseMib index rose by 0,9%, after having gone negative in the early afternoon, losing 0,2%. The Paris Stock Exchange rises by 1,14%, Frankfurt +1,36%, Madrid +0,76%. Only London -0,13% is in negative ground. The slowdown was common to all stock exchanges in the Old Continent after the declining start of Wall Street: Dow Jones -0,31%, Nasdaq -0,65%. The sharp drop in oil stocks weighs on the American stock market, after the new fall in crude oil: Brent loses 4,4% to 47,8 dollars a barrel, Wti drops by 4,1% to 46,3 dollars.
The dollar strengthens again against the euro, which drops to 1,182 from 1,184 at yesterday evening's closing: the cross is sailing close to the minimum of the last nine years. The Paris Stock Exchange rises by 0,8%, Frankfurt +0,9%, Madrid is tied. Positive day for the Btp which sees the yield drop to 1,79% from 1,87% yesterday. The spread with the Bund narrows to 132, down by 5 basis points. After the success of the 12-month BOT auction, a new record is also expected for the medium-long term bonds on offer tomorrow morning.
On the European stock markets, oil stocks (Stoxx of the sector -2%), raw materials stocks (-1,7%) and utilities (-1,2%) fell above all. In Milan Eni drops by 0,5%, Tenaris -3%. Saipem sinks -10% despite today Goldman Sachs confirmed the title in its Conviction Buy List (stocks to buy without hesitation). Enel loses 0,9%, but not all of Piazza Affari's utilities go down: Snam gains 1,2%. In great evidence Atlantia +2,5% due to the possible entry into the shareholding structure of new important shareholders. Autogrill was also brilliant +2,3%.
