TSUNAMI ON THE STOCK EXCHANGE -4,89%. DEBT COSTS 10 BILLION MORE
THE CONSOB DAM ON THE COVER DOES NOT PROTECT THE BANKS
The bill of uncertainty was not long in coming.
Business Square he lived the whole day under the banner of bearishness. The Ftse/Mib index danced for the whole day around -3/4% to then close at -4,89% at 15.555.
These are the reductions in the other European stock exchanges: London -1,3%, Paris -2,32%, Frankfurt -2,22%, Madrid -3,34%.
In Europe, the sectors most sensitive to fluctuations in stocks suffer spread: Banks -4,5%, Insurance -3,4%, Utilities -2,5%.
On the front of government bonds the auction of 8,75 billion six-month BOTs this morning closed with the placement of the entire amount but the yield shot up to 1,23% from 0,73% in the previous auction at the end of January: yields were not so high since last October: half a point more spread, slipping to 333, on the entire stock of public debt will cost the Treasury about 10 billion euros more in interest rates per year. But the real stumbling block that Italy must overcome is tomorrow's auction, which will bring 5 and 10-year BTPs to the market for a maximum of 6,5 billion.
holds theeuro which appreciates against the dollar to 1,308 from 1,306 at the end of yesterday evening: it is also up against the pound.
The contagion, however, loses strength on the threshold of the ocean. Wall Street, in fact, recovers: Dow Jones +0,44%, S&P+ 0,08% and Nasdaq -0,12%.
There are two reasons for rebound. First of all, the data on house prices increased in December in the United States compared to the previous month, while on an annual basis the largest increase since 2006 was recorded. Even more important is the message from Ben Bernanke to Congress which erases the fears that emerged after the publication of the Fed minutes.
Il Fed chairman he defended the US central bank's asset purchase program, arguing that the benefits of the 'quantitative easing' program far outweigh the costs.
Returning to Piazza Affari, the sales mainly affected financial stocks. In Milan Unicredit -8,46% and Understanding -9,07% sank under the blows of sales: Consob announced that short selling will be prohibited today and tomorrow. Pop.Milan -5,72% MontePaschi -5,84% Bper -8,16% Popular Bank -10,57%. Below also Mediobanca -7,5% after the announcement of the results for the quarter: net profit of 14,8 million, above the consensus gathered by the bank which indicated a loss of 10 million and despite the write-down of the investment in Telco for 95 million.
Generali loses 6,54% e Mediolanum the 10,27%.
Fondiaria and Unipol are among the worst stocks with a -9%.
Telecom Italy loses 7,26%.
Mediaset it behaves like any stock and there doesn't seem to be any "Berlusconi effect": the drop is 5,64%.
In the segment of utility A2A -8,36% and Enel -5,84% fell above all. Less heavy sales for Terna -1,4%.
Eni is down 3,02%.
The only stock up is Pirelli + 2 %
