The clearing did not last long on the markets and a new sales storm, brought by concerns about the expansion of the coronavirus, has come back to hit trading violently today. Thus the European lists close in deep red, while Wall Street, after a fearful start, proceeds with losses exceeding 2%.
Business Square it dropped 2,66% and dropped to 22.799 points; in the final, however, at least two blue chips are saved: Cnh +0,89% and Recordati +0,05%. Frankfurt is doing worse -3,16%; Paris -3,32%; Madrid -3,57%. The Euro Stoxx 50 marks -3,32%. London is not doing better, -3,37%, while the tones on Brexit are tightened. Britain has presented a negotiating mandate for collision course talks with Brussels, saying it is ready to withdraw from the talks if "good progress" is not made by June.
Meanwhile, the number one enemy of man and the economy at this stage, Covid-19, sends the rate of volatility and uncertainty into orbit. Donald Trump's words yesterday were not enough to encourage purchases. In fact, the United States also recorded the first positive case in California, without being able to define the origin of the infection. A patient one in the absence of connection with risk zones or with a patient zero. A script similar to that of Italy.
While China is getting better, the world is getting worse and even if the absolute numbers of known infections are very low, according to WHO the epidemic has reached a "decisive point" and countries need to redouble their efforts to contain its spread. The economic repercussions are calculated by each study center and are frightening. Already the United States, for 2019, recorded a GDP growth of 2,3%, the lowest for three years, while Goldman Sachs cut to zero the 2020 growth estimate of the earnings per share of American companies. For Bofa, the 2020 global growth estimate drops to 2,8% from the previous 3,2%.
Let's not talk about Italy, which has been at the bottom of the rankings for years, always walks the razor's edge and has been hit by the epidemic precisely where it is most productive. According to Prometheia the Italian GDP of the first quarter of 2020 will be down by 0,3%, fourth technical recession since 2009.
In this context the spread rises by 7,7% and rises to 161 basis points, while the yield on the 10-year BTP rises to 1,06%. However, the morning's auctions went well. The Treasury has placed 7,5 billion euros, the maximum of the range offered, in the new 2030-year BTP in August 5 and in the reopening of the 2025-year bonds in February 2025 (with rates rising slightly to the highest since December on both securities) and in the CCTEU in April XNUMX .
For the performance of the secondary sector, it will be necessary to see what will happen on Monday and whether activities will resume normally even in the regions most affected by the epidemic. In the meantime, register a appeal from banks, businesses and trade unions to work together to overcome this phase quickly and effectively. “After the first days of the emergency, it is now important to balance the situation in order to proceed with a rapid normalization, allowing all the activities now blocked to restart”.
On the currency market the euro is recovering against the dollar by nearly a percentage point and is trading at 1,0978. Gold regains the plus sign and moves up 1.654,45 dollars an ounce. Oil falls, with Brent at 50,95 dollars a barrel (-3,52%).
In the business square sales sink Stm, -6,86%, which is weighed down by the decline in the technology sector globally. The specific weight of the Apple customer on 2019 turnover, equal to 17,6%, is also worrying.
Juventus sinks, -6,08%, in the aftermath of defeat in the Champions League League in the round of XNUMX. Rainfall sales for Azimut -5,2%; Amplifon -5%; Nexi -4,87%; Prysmian -4,4%; Campari -4,37%; Post -4,32%; Tenaris -4,36%.
Atlantia loses 2,72%. Repubblica wrote that the holding could ask Consob to postpone the presentation of the 2019 accounts to the market by two months, due to the uncertainty over the concessions to Autostrade.
Reverse the banks, starting from Unicredit -4,38%. Ubi loses 3,83%. Cattolica Assicurazioni, -2,46%, announced that it had been accepted by the CAR Committee (Ubi's reference shareholders' committee) in relation to adherence to the consultation agreement. The company increased its stake to 1,01% (from 0,5% previously) via stock market purchases over the past two weeks.
