The lockdown returns to terrorize the markets. European stock markets in free fall this morning on fears relating to the increase in coronavirus infections in the old continent and to the increasingly concrete possibilities that the States decide to close everything in order to slow down the spread of the virus. A new lockdown would irreparably compromise the recovery estimated for the second half of the year, a recovery already called into question by the restrictive measures introduced in many countries in recent weeks, while the ECB, which will meet tomorrow, is not expecting important news that can break the fall.
The problem is that by now the lockdown is no longer just an abstract hypothesis, but a path towards which many countries - including Italy - seem to be heading at full speed. In France, the President of the Republic, Emmanuel Macron, will speak to the nation on the evening of Wednesday 28 October. According to rumors, the tenant of the Elysée will announce the second lockdown. The same, even if in light form, could happen in Germany starting November 4th. Regional closures are also planned in Spain. Meanwhile, in Italy, after dpcm on Sunday, the data on new infections continue to frighten: Lombardy and Campania have ended up under the lens, where growth is now defined as “exponential”.
It is not difficult to understand why, faced with such a context, investors react nervously, with a shower of sales that follows what happened on the markets in March, when the first wave of coronavirus infections exploded.
The result is that Frankfurt yields 3,82% of its value, Paris 3,3%, Madrid 2,17%, London the 2,5%.
Milano follows the general sentiment, dropping 3,76% below 18 thousand points. On the Ftse Mib there are only two stocks that resist the blows of the pandemic. Saipem (-3% at the start) which rose by 0,12% despite the fact that the first nine months of 2020 closed with a loss of 1,016 billion euro, and Diasorin (+0,58%) which announced the launch of the Sars-Cov-2 Ag Liaison test for the detection of Sars-CoV-2 antigen in symptomatic patients in markets that accept the Ce marking.
Also in the spotlight on the day of the quarterly reports Eni (-3,2%), fca (-2,9%) ed Amplifon (-5,68%). At the center of attention, however, continues to be there Atlantia (-4,26%), after the board of directors of Cdp has given the go-ahead for the presentation of an offer details for the acquisition of 88,06% of Autostrade per l'Italia.
They are placed at the bottom of the main list Buzzi Unicem (-6,24%), Moncler (-5,6%), Bper (-5,4%.
Looking overseas, six days before the presidential elections he is traveling in the red American stock exchange: the Dow Jones loses 3,6% like the Nasdaq, while the S&P 500 scores -2,8%. In the last week, the US has recorded almost 500 cases of Covid-19, with a daily average of 71 new infections. On the financial front, the quarterly reports of Boeing, Blackstone, General Electric, Mastercard, GlaxoSmithKline, Deutsche Bank, Ford Motor and Visa are expected today, while the CEOs of Alphabet (Google), Facebook and Twitter will arrive in the Senate to testify on content responsibility published on their platforms.
Keep an eye on the other markets: on the bond spread it surges to 139 basis points, while the price of Brent oil falls by more than 3% to 39,06 dollars a barrel. The euro-dollar exchange rate is at 1,1747 points.
