Great volatility on the markets today. In the early afternoon, the European stock exchanges accelerated downwards again: Milan came to yield 1,47%, Paris 1,7% and Frankfurt 1,43%. It's worst of all London (-2,25%), weighed down by the securities of mining companies which were in turn penalized by the weakness of raw material prices.
Depressing markets was in the first place the World Bank, which lowered the estimates of growth of the world economy for this year from the 3,4% expected last June to 3%. The forecasts for the next two years are not much rosy: in 2016 global GDP will grow by 3,3% against the 3,5% estimated in June and in 2017 there will be a new slowdown, with an increase estimated at 3,2 ,XNUMX%.
Valuations that further pushed crude oil down: the Brent is trading at 47,61 dollars a barrel, while the wtf travels at an altitude of 45,68.
The umpteenth decline also affected Piazza Affari, where oil-related stocks travel at the bottom of the list: Prysmian -3,02% Tenaris -2,70% Eni -2,3% Saipem -0,9%. Also among the last of the Ftse Mib Buzzi Unicem (-3,96%) And Telecom Italy (-2,65%).
Today's data also contributed to curbing enthusiasm industrial production in the Eurozone, which fell 0,4% year-on-year in November.
Meanwhile, the lawyer of the European Court of Justice proved Mario Draghi right: the OMT purchase program does not violate the treaty, as per the appeal of the Bundesbank. Thus the last obstacle, political rather than legal, to the launch of the government bond purchase plan by the ECB falls.
The news gave impetus to the bond market (with the Btp-Bund spread at 129 basis points) and contributed to driving the euro down further, which (pending Qe) is traded today at 1,1775 dollars (yesterday 1,1782) and 137,48 (yesterday 139,56).
As for the US, Wall Street opened lower after disappointment in import prices, which fell 2,5% in December, and retail sales, which fell 0,9%. In early trading, the Dow Jones -1,17% to 17.437 points, the Nasdaq -1% to 4.618 points and the S&P 500 -1,10% to 2.006 points.
In terms of accounts, have published the quarterly today JP Morgan, which did not meet expectations, and Wells Fargo, which instead recorded a profit in line with what was forecast by analysts.
