MILAN FALLS INTO DEEP RED. SPREADS TO 288
ONLY PARMALAT ACTIVE AFTER THE MINUTES OF THE FED
Milan, in deep red, leads the descent of the price lists with a drop inFtseMib index by 2,86% to 16,054, one step away from the psychological threshold of 16 points. London lose 1,63%, Paris -1,8% Frankfurt -1,85%. The Stoxx sector indices are negative with the greatest losses for commodity stocks (-2,1%), auto manufacturers (-1,7%) and banks (-1,4%).
The perplexities that emerged from the publication of the Fed minutes so the European Stock Exchanges are also hitting hard, after Asia and Wall Street. The minutes reveal a wide divergence of views among the governors of the American central bank on the opportunity to continue with the monetary stimulus to the economy with the current bond buyback program worth 85 billion dollars a month.
Added to this are the concerns of central authorities in Beijing for the growth of real estate prices in China. Yesterday, Premier Wen Jiabao urged local governments to take measures to combat real estate speculation.
It loosens in parallel the pressure on the euro down against all other currencies: it is trading at 1,320 against the dollar, from 1,328 at the previous close, and at 0,869 against the pound from 0,871. The Swiss Franc is listed at 1,229.
Salt also the yield of the 10-year BTP at 4,46% with the spread widening to 288 (+12 basis points).
Breath of fresh air for their up shyly to 1.566 dollars an ounce, after yesterday's -2,5%.
In the main basket of Piazza Affari only Parmalat +0,55% is in positive territory.
The decline rages on financial securities. Unicredit -4,95% leads the race downwards. Intesa also fell -4,43%,B. Pop. Milan -4,18% preceded by Bper -4,36%.
Mount Paschi loses 3,45%%. But a note of consolation arrives from Paris for the Profumo/Viola tandem: "Our business with Mps is developing well in terms of volume and results," said Axa's number one, Henri de Castries during the press conference on the accounts of the French group, referring to the jv in Axa Mps insurance, which “in 2012 scored a record profit'. Axa's portion is 72 million, therefore the result of the joint venture is double”.
It also falls Generali -3,55%. Fondiaria Sai -3,7%. Telecom Italy -2,06% falls to new lows of 0,594 euros.
Fiat loses 2,93%, StM -2,96%,
Finmeccanica -1,57%.
Enel drops by 2,55%. Eni -1,98%
