Vertical collapse for the Ftse Mib, which closes in the red by 3,92%, below 20 thousand points, thanks to the bearish speculation that hit the list after the ECB press conference in the afternoon. Milano it is the worst among the main European markets, while the Btp-Bund spread widens to 142 basis points. The yield also increased, reaching 2,33%. However, the price lists are all in sharp decline: Paris -2,81% Frankfurt -1,99% London -1,69%.
The words of Mario Draghi. Or rather, what the president of the ECB did not say. In today's press conference, after the Governing Council's meeting on interest rates (which left the cost of borrowing unchanged at 0,05%), Draghi lifted the veil on the Abs and covered bond purchase programme. However, the market was disappointed by the absence of references to Qe of government bonds. In any case, Draghi reiterated that the directorate is unanimous in launching further unconventional measures in the event of low prices for too long a period of time.
Also in red Wall Street, which was affected by the drop in Europe: the Dow Jones lost 0,5%, the S%P500 0,47% and the Nasdaq 0,51%. The euro strengthened slightly against the dollar by 0,17% to 1,2644. WTI oil falls by 0% to 0,63 dollars and Brent is also at a two-year low. Saudi Arabia cut oil prices, adding to weak global economic data, caused the plunge.
The US has registered a record drop in orders to industry: – 10,1% in August on a monthly basis after the +10,5% in July which had benefited from the jump in the transport sector. This is the largest contraction since the current feed measurement method was introduced. Analysts estimated a drop of 9,3%. Surprisingly, however, the data on unemployment applications fell to 287 thousand, better than the expectations of analysts, who expected applications at 297 thousand units.
In Piazza Affari the debacle of the banks is not surprising: Banco Popolare -6,19% Bper -5,87% Understanding -5,50%Unicredit -4,84% Ubi -5,14% Ps -5,08% bpm -4,25%.
The worst headline is though Finmeccanica (-6,44%) after Standard & Poor's revised its outlook downwards from stable to negative. Among the worst too Yoox (-5,45%). Oils are also heavy in the wake of the drop in prices: Eni -3,92% Saipem -3,72%
The avalanche of sales on the Ftse Mib is such that no stock manages to close in positive territory. But limit your sales Gtech (-0,8%) after the BoD approved a new treasury share buyback programme equal to approximately 9,5% of the share capital to "ensure, in compliance with current provisions, the regular progress of trading and prices in the face of any distortive phenomena linked to excess volatility or low trading liquidity, pending of the IGT acquisition procedure”.
Fiat drops 1,68%, slows the decline after the reply to the European Antitrust: Lingotto remains convinced of the legitimacy of the tax ruling process relating to Fiat Finance and Trade in Luxembourg and believes that "the potential financial impact of the case on the group is not significant". Marchionne then reiterated that “no capital increase is required” for Fiat Chrysler.
