It is a sharply down Tuesday for the European stock exchanges. TO Milano the Ftse Mib index lost 2,5% in the middle of the day. The Eurofirst index loses 2,1%. Frankfurt -1,6% London -1,8%. Losses greater than 2% per Paris e Madrid. This morning the dollar it is trading at 1,116 against the euro, the highest since 7 September. The spread between Btp and Bund it dropped to 111 points. The 1,79-year yield is XNUMX%. In the evening the amount of next Friday's Ctz and Btpei auctions will be announced.
In addition to the anticipation for tomorrow's speech by Janet Yellen, who could announce a rate hike by the Fed in October, the fear of new taxes on utilities weighs on Piazza Affari, while the VW effect continues in Europe. Sales rain on Volkswagen it is infecting the entire auto sector. The shares of the house of Wolfsburg drop a further 16% after Monday's collapse (-19%). Also Peugeot loses 6,3%, Renault -5% bmw -4,4%. This morning the decline also affects Fiat Chrysler (-4%). Down too Finmeccanica (-3,2%) And Cnh Industrial (-3%).
An extraordinary board of VW will be held tomorrow, which will have to decide whether or not to renew trust in CEO Martin Winterkorn. Meanwhile, the reactions to the scandal are spreading like wildfire: Korea has decided to open an investigation into the diesels of the German company. French Finance Minister Michel Sapin has called for a European inquiry.
The decline also affects the utilities sector in the face of the hypothesis (later denied by the government) of a re-edition of the "Robin Hood Tax", ie an ad hoc taxation for the energy sector. Enel is down 2,6%, A2A down 1,8%, Terna -1% Snam -1,6%.
The quotations of the crude they retreated this morning after yesterday's strong increases (Wti +4%, Brent +3%). The Wti is traded at 46 dollars, down 1,4%, Brent at 48,2 dollars (-1,4%).
In Europe, mining and raw materials companies fell in particular, with the Stoxx index for the sector down by 3,1%. In London Glencore, world leader in commodity trading, lost 7,8%.
On the Milanese list weighs the fall of Eni (-2,9%), Tenaris (-3%) And Saipem (-2,2%).
Weak banks: Bloomberg reported that the Bank of Italy has written to the ECB regarding the "significant" increase in requests for capital from banks envisaged by the annual Srep examination. Unicredit -2,5% Understanding -1,1% Mount Paschi -1,9%.
Solo Inwit in contrast in Milan: the share of Telecom Italia towers recovers 2,2%, to 4,49 euros.
