Business Square it lost 0,86% and fell to 18.802 points, on the day of the rejection of the economic package by the European Commission. Government bonds suffer: lo spread it rises to 312,7 basis points and the yield on the Italian 3,6-year bond rises to XNUMX%. Waiting to know what Mario Draghi will say on Thursday at the end of the ECB's governing council and to know, on Friday, S&P's new opinion on the sovereign rating, Italy thus contributes to the general malaise of the markets, already weakened by the trade war, by the of the US-Saudi Arabia relationship after the murder of journalist Jamal Khashoggi, by the slow progress of Brexit. Today we also put the Petroleum, sinking into the perception of a slowdown in the world economy: Brent -2,13%, 77,75 dollars a barrel.
European lists hit their lowest for two years in session: Frankfurt is the worst, -2,17%, dragged down by bayer, (-9,52%), after the confirmation on the merits of the indemnity sentence against Monsanto (reduced by the San Francisco judge) for a gardener suffering from cancer (a disease in this case related to glyphosate). Bad Paris -1,69%; Madrid -0,91%; London -1,69%; Zurich -1,18%. L'euro it remains little moved on the dollar, in the 1,148 area.
Wall Street opens significantly lower, also following the publication of some disappointing quarterly reports such as those of 3M, which cuts future earnings estimates; Caterpillar, which sees rising raw material costs due to tariffs; Harley-Davidson, which recorded the largest quarterly contraction in over eight years in retail sales in the US, due to the boycott of Donald Trump. McDonald's goes against the trend.
Among the raw materials galvanizes thegold, as a safe-haven asset, and salt in the area at $1236 an ounce.
The main safe haven asset in the euro area is the Bund, however, and the climate of low risk propensity on the part of investors reduces its yield, raising the spread especially with the BTP.
The rejection of the Italian maneuver by the European Commission is an unprecedented fact in the Union. Now the government will have three weeks to submit a corrected position paper, taking up the warning of the vice president of the Commission Valdis Dombrovskis: "the Eurozone is built on close ties of trust" and if "trust is eroded all member states are damaged". From Rome they let it be known that the response will arrive on schedule and will be animated "by a constructive spirit".
In Piazza Affari the banks lose share even today, Ps in particular, it drops by 3,65% and each share is worth 1,451 euros.
On the main basket, however, the worst titles today are not those of credit institutions. At the bottom we find indeed Saipem, -4,95%; Moncler -4,1%; Tenaris -3,94%; General Bank -3,62%; Cnh -3,5%. Purchases reward Luxottica, +3%, in the wake of the third quarter accounts; Mediaset +2,96%; fca +1,27%; Brembo +0,79%; Terna + 0,75%.
