The spy war ignited from the arrest in Canada, at the request of the US, of Meng Wanzhou, CEO of Huawei and daughter of President Ren Zhengfei, a former senior officer in the Chinese army, is causing massive sales on all stock exchanges. The arrest of Miss Meng, who risks extradition and trial in New York, has seriously compromised the truce in the trade conflict between Washington and Beijing. Futures anticipate a red start for Wall Street: S&P 500 -1,7%, Nasdaq -2,2%, in line with the performance of the European Stock Exchanges.
Business Square it leaves 2,5% around 18.800, in line with Frankfurt and Paris. Losses of more than 2% also in London (the lowest since December) and Madrid. The worsening of global trade relations coincides with the fear of a slowdown in the economies, an event that the markets are anticipating, buying bonds, starting with the Bunds, traded at 0,25% (-2 points). The yield of the BTP rises to 3,07 (from 3,04%), lo spread widens to 287 points. In the meantime, the order book for the exchange announced by the Treasury between Btp and Ccteu has been opened with a new tranche issue for the three-year October 2021.
The general discussion on the budget law resumed this morning in the Chamber, which should occupy the entire morning session and end with the government's request for confidence in the measure around 13 pm. “We are on the right track”, said EU Commissioner Pierre Moscovici commenting on the latest Italian proposals, “but we must continue to make progress. To my Italian friends I say: everything that is permitted by the pact you will have. Flexibility? you will have it. But be warned: one thing I can't ignore are the rules. And that means making an extra effort."
In sharp decline Petroleum (-2% for Brent below 60 dollars). Three delegates at the OPEC conference kicking off today in Vienna anticipated that the cartel could cut production by one million barrels a day if Russia contributes 150.000 barrels a day to this reduction. Energy Minister Alexander Novak has left for Moscow for consultations with Vladimir Putin. They miss out Eni -1,7% and Saipem -4%. Technological stocks suffer on the lists. stm -4,55%, reflecting the problems of Huawei, its client which boasts about 11% of the world mobile market. Heavy liabilities also for the other securities of the technology sector down by -2,95%. ams leaves 7,62% on the ground e Dialog Seeds 4%. The competitors are doing better Ericsson +0,9% and Nokia-0,23%. Down too Tim -2,52%. Today, during the board of directors meeting, the request to convene an extraordinary meeting could arrive. The prospect of the exacerbation of the tariff war affects the auto sector -2,68% the sector, at its lowest level for over two years, driven downwards in particular by Daimler -3,35%. At Piazza Affari Fiat Chrysler -3,7% Brembo -2,6% Pirelli -2,9%. He misses out Diasorin -6,47% after the gains of recent days in the wake of entry into the main basket. The slide follows Kepler Chevreux's cut to a buy hold. The title reverses course Juventus, positive at the start on the wave of the promotion in the Ftse Mib index, now down by 2,58%. The other one promoted was also down, Amplifon -0,9%. Also down are the stocks that will leave the basket from 27 December: Mediaset -3,39% and Banca Mediolanum -2,9%.
