2016 for the financial markets begins in deep red. The collapse of the Shanghai Stock Exchange sinks the European markets, which begin the first session of the year with sharp declines: mid-morning Business Square yields 2%, such as Paris, while Frankfurt loses 3,3% e London 1,8%.
What happened on the main Chinese price list, where a decrease of more than 7% was recorded in the afternoon which, according to the new rules in force from today, caused the immediate closure of the session.
The landslide was caused by the disappointing performance of themanufacturing activity, which fell in December for the fifth month in a row, as it hasn't happened since 2009, according to data from PMI data.
It was the spark that triggered the fall of the yuan, today one step away from the historic threshold of 6,50 against the dollar, the lowest since May 2011 after the fixing with the Central Bank. This has triggered a chain reaction on the markets, worried about the prospect of a currency war.
The Stock Exchange is also very bad Tokyo, which closed down 3%.
In Milan it is the protagonist Ferrari (-2,44%), making its debut on the Italian list with an opening price of 43 euros (however lower than the 48,06 dollars recorded at the close of Wall Street).
Male Banca Mediolanum, suspended in the volatility auction at -4,7%.
Le strong tensions in the Middle East between Iran and Saudi Arabia they recover the price of oil: the WTI scores +0,8% to 37,34 dollars a barrel, Brent +0,7% to 37,54 dollars a barrel.
Sui currency markets, the greenback weakens: the euro/dollar moves to 1,093 from 1,0855 last Thursday, the dollar/yen to 118,85 from 120,27. Euro/Yen at 130,05 (from 130,59).
