KIEV EFFECT: BAGS SINKING, UNICREDIT COLLAPSES
THEY HOLD THE BTPs. FIAT, SALES RECOVERY IN FEBRUARY
Piazza Affari and Frankfurt guide the descent of the Stock Exchanges of the Old Continent affected by the K effect, which stands for Kiev.
A Milano the Ftse Mib index lost 3,34% to 19759.
Even more profound impact for the German market, the most sensitive to relations with the East: -3,44%.
London -1,49%, Paris -2,66% . Madrid -2,38%.
Debt securities, on the other hand, are holding up the shock: the spread is stuck at 190 bp (5 points ahead of Spain), the XNUMX-year yield falls.
Gas pipelines pass through Ukraine, bringing about a third of the gas imported from the Continent to Europe. The country is also one of the major exporters of grains: the reference future of corn loses 4% and that of wheat by 5% (highest since the beginning of the year).
The price of WTI-type oil rose to 102,6 dollars a barrel, up 2%, the highest since September. Brent is up 2,1% to 109 dollars. Gold rose by 1,2% to 1.344 dollars an ounce, the highest in the last 4 months, and gained 6,5% in February.
The euro weakened against the dollar to 1,376 from 1,380 at the close.
In Milan, among the banks, Unicredit loses 6,16%. At the end of September 2013, the bank had exposure to Ukraine amounting to €2,3 billion of outstanding loans, approximately 0,5% of total outstandings. Intesa, also active in the Eastern country, decreased by 4,01%, Monte dei Paschi by 3,34%.
Not saved, after a morning in sharp rise, the Banco Popolare which retreats by 2,13% after a rising morning.
The other Populars are bad. Bpm loses 3,74%, Banca Popolare dell'Emilia Romagna -4,75%. Ubi Banca -5,01%.
Insurance companies are also down: Generali -3,31%. Unipol Sai -6,16%.
Eni loses 2,06%. Saipem –1,82%.
Buzzi Unicem, which has a significant presence in Ukraine, closed down 7,6%. The Russia-Ukraine aggregate generates approximately 15% of the company's EBITDA.
Indesit closed down by 4,1%. The household appliances group generates 3,5% of its turnover in Ukraine and 20% in Russia.
Among industrialists, Pirelli -3,89%.
Fiat -2,31% it is not saved from the rain of sales despite the good news arriving from overseas. Chrysler US sales rose 11% in February, the best February since 2007 and the 8,59th consecutive month of growth. Car registrations in Italy in February grew by 7,3%. The Lingotto registered an increase of XNUMX%.
Exor -4,45%.
Telecom Italia loses 3,52%.
The utilities defend themselves: Terna falls by 1,35% and Snam by 1,79%.
Among the small caps, Immobiliare Grande Distribuzione gains 1,3% after the news that a fund managed by George Soros has entered the capital with a 5% stake. La Doria rises by 2,6%, new all-time high.
