The success of this morning's Italian government bond auction is already behind us. The European stock exchanges lose their breath and Piazza Affari completely cancels the gains. The FtseMib index fell by 0,13% to 14.993. London -0,12%, Frankfurt -0,60%, Paris -0,83%.
This morning the Italian Treasury placed 3 billion Ctz with maturity 2014 and yield of 3,064%, down from 4,86% at the auction at the end of July, to the lowest since last March. Shortly before, the Treasury of Spain had placed 3-month bonds for 1,67 billion euro, with a yield of 0,988% from 2,650% in the previous auction and 1,93 billion euro of six-month bonds with a yield of 2,100% from 3,950%.
The yield on the ten-year BTP widens to 5,815% with a spread of 449.
The markets discount fears of a slowdown in the global economy: after the negative German macroeconomic data released yesterday (the Ifo index slowed for the fourth consecutive month to 102,3 from 103,2), today the Japanese government revised downwards forecasts for the country's economy, noting that the slowdown in world growth (and in particular in the USA, China and Europe) weighed on exports and industrial production, threatening the prospects for recovery.
Yesterday the confidence index drawn up by the Conference Board also confirmed the alarm: the figure is weak in decline to 60,6 points, well below economists' expectations. This is the minimum of the last 9 months.
Wall Street reacts with caution: attention is now focused on the speech that Ben Bernanke will give on Friday. Meanwhile, Dow Jones Index -0,09%, S&P Index +0,13%, Nasdaq Index -0,08%.
In line with forecasts, the Richmond Fed Index based on industrial activity in an area that includes Virginia, the two Carolinas, Maryland and Washington.
In Piazza Affari the banks are holding up. Ubi up 4,89% after this morning's release of better-than-expected quarterly results. It still runs Mediobanca +3,66%. positive MontePaschi +1,97% and Unicredit + 0,19%. Understanding loses 0,41%.
Generali +0,18% absorbed the news that the Czech financier Petr Kellner sold 1,5 million shares (0,1% of the capital). Kellner still owns 16 million Generali shares.
Mediolanum +0,95%. Enel +0,31%, the subsidiary Enel Green Power +1,86%, A2A -1,34%.
Finmeccanica reduces losses to -1,21%. Also declining StM -1,65%. Yesterday the company announced the opening of a research center in China together with the Chinese group FAW, one of the leaders in the Chinese auto industry.
Prelios it fell by 9,09% after gaining more than 6% at the start of the session. Rcsafter staying suspended due to excessive increases for almost the entire session, it closed at +21,43%. Leap forward by Bialetti + 8,55%.
Dmail it fell by 7,35% after the press release announcing that the board of directors is evaluating the use of insolvency proceedings. EBITDA for the first half was negative by 1,7 million, from +2 million in the same period of 2011.
