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Greece, bis vote: Piazza Affari collapses, Btp-Bund spread at 440 basis points

The hypothesis of a caretaker government in Athens is skipped: European stock exchanges wipe out gains and run downwards - The hardest hit is the Milan Stock Exchange, which loses 1,5% in mid-afternoon - The Btp-Bund spread jumps to 440 basis points – The euro slides around 1,26 dollars.

Greece, bis vote: Piazza Affari collapses, Btp-Bund spread at 440 basis points

GREECE, BIS VOTE. AND THE BUSINESS SQUARE IS DOWN -1,8%. THE BANKS SUFFER, THE SPREAD AT 440

The Athens Dam has given way. Jump in Greece the hypothesis of the technical government, the European Stock Exchanges reset the gains and run downwards. In Milan, the FtseMib index fell by 1,48%, Frankfurt -0,83%, Paris -0,27%. Madrid scores -1,415. The spread goes back to 440, the yield of the Btp to 5,83%. Meanwhile, the euro falls below 1,28.

According to what was reported to Reuters by a member of the conservative party after the meeting between the President of the Republic, Karolos Papoulias, and the 5 parties that accepted his summons, no agreement has been found.

In Milan, the FtseMib index, which before the news hovered around parity, is now down by 1,82%, Frankfurt -0,5%, Paris -0,6%. Weak opening also on Wall Street: the Dow Jones loses 0,14%, the S&P -0,09%. Only the Nasdaq rises by 0,21% (the Facebook IPO is on the way).

Among the main stocks, MPS loses 5,06%, Banco Popolare is in a volatility auction with a theoretical drop of 5,04%, Mediaset loses 3,88%, Telecom 2,27%. Heavy losses in the banking sector: Intesa -2,32%, Mediobanca -2,97%, Unicredit -3,22%, Ubi -2,88%. Mediolanum is down by 4,36%. A2A falls by 5,22%. Fiat retreats -1,8%, already in positive territory, Finmeccanica -3%, Eni -03%, Enel -1,28%. Campari +1,89%, Luxottica +0,65% and Tod's +0,52% hold on, as well as Ferragamo +0,18%, Prysmian +0,58% and Parmalat +0,71%.

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