END OF SESSION IN DEEP RED: 2,29%
THE SPANISH TEST WEIGHTS, BUT MILAN IS WORSE
At five-thirty in the evening the Spanish bullfight is still taking center stage. Indeed, the Bear closes the week by putting the Bull in a corner.
Investors are nervous awaiting the results stress test of Spanish banks. Rumors in recent days indicated a final bill of 60 billion euros to cleanse national bank balance sheets of toxic real estate assets. Meanwhile, after the presentation of the anti-deficit plan, Economy Minister Luis De Guindos he took more time on the possible request for aid, explaining that the country is still evaluating the conditions.
La Madrid Stock Exchange drops by 1,1% in Milan the FtseMib index closes down by 2,29% at 15.095 points, the worst European performance in line with Paris -2,01%. Frankfurt drops by 0,81%, London -0,67%.
Sul government bond market, spreads have returned from their mid-day highs. The Italian ten-year bond is traded in the evening at a stable yield of 5,09% with a spread at 366, two basis points higher than yesterday's close. The Spanish Bonos/German Bund spread hits 449, down from 456 this morning but above 442 last night. Yield at 5,922%.
Wall Street is also down: Dow Jones-0,65%, S&P-0,64% and Nasdaq -0,89%.
The accounts of Nike and Wallgreen are lower than expected.
University of Michigan Consumer Confidence data for September it was 78,3, down from 79,2 the previous month and below expectations at 79. The Chicago Purchasing Managers Index also disappointed, at 49,7 against estimates of 52,8.
From Milanese blue chips remain positive Finmeccanica +0,93%, but scaled the upside after hitting a 4% high. in the wake of rumors about an offer of 1,3 billion for the subsidiary Ansaldo Energia.
Generalized and substantial reduction for the banks: Unicredit -3,58%, Intesa -3,11%, Banco Popolare -2,84%, MontePaschi -2,88%. Banca Popolare dell'Emilia drops by 4,68%. Bpm -4,22%. Generali drops by 2,61%.
Utilities also backtracked after a bullish start: A2A loses 4,3%, Enel drops 3,23%, Enel Green Power -2,88%.
The StM, protagonist of a brilliant start to the session, made its turnaround by falling by 2,5%. Also down was the Fiat team -1,84% and Fiat Industrial -2,24%. Positive Pirelli +0,18%.
