December is getting redder and redder for the world stock exchanges. European stocks close down and Wall Street opens negative after yet another lunge by Donald Trump on the American Central Bank. At the moment the Nasdaq is trying to recover and is moving around parity. Oil and the dollar are falling, while signs of a slowdown in manufacturing are arriving in the USA, with the Empire State index in the New York area in sharp decline.
Business Square it loses 1,15% and drops to 18.693 points. Worst blue chip is Saipem, -6,55%, bad banks, cars, fashion. mediaset, +2,05%, it is the only title in sharp contrast. Bonds moved little. There is cautious optimism about the dialogue between Rome and Brussels, awaiting the details of the 2019 maneuver: the yield on the 10-year BTP rises slightly to 2,96%; but the spread with the Bund fell by 0,81% to 269.40 basis points.
Nervousness unites all the squares of the Old Continent, squeezed between Brexit, yellow vests and the Italian maneuver. Frankfurt -0,86%; Paris -1,11%; Madrid -0,83%; London -1,05%; Zurich -1,27%.
A first blow in the morning comes with the clothing e-commerce group Asos (-37,55% in London), after the disappointing data on sales in November and the estimates for the year. A collapse that knocks out retail stocks and disappoints expectations for Christmas spending. Another push to the downside came in the afternoon from the American lists, which risk closing the worst December for 30 years. Health sector stocks weigh on the New York square, following the Federal Court's declaration of unconstitutionality of the Obamacare reform. Down too Goldman Sachs after Malaysia sued the bank and two former employees. Investors are also waiting for Wednesday's Fed meeting, which could end with the fourth interest rate hike in 2018. A prospect against which the American president once again rails in a tweet: “It's incredible – he writes. that with a very strong dollar and virtually non-existent inflation, with the world exploding around us, with Paris burning and China slowing dramatically, the Fed is even thinking about another rate hike.
The dollar loses share against theeuro and the exchange rate for the single currency rises to 1,34. The partial weakness of the greenback is good for gold, which is approaching 1243 dollars an ounce.
It is declining Petroleum. Brent yields 0,88% and drops below 60, to 59,75 dollars a barrel.
In Piazza Affari, oil stocks are wiped out. Saipem is flat (-30% since October; -8% since the beginning of the year), with Merrill Lynch confirming its "sell" position on the Italian group's stock. Pardon Eni, -1,33% and Tenaris -1,32%.
Among the major declines of the day, there are also on the Ftse Mib Brembo, -3,7%; Unipol -3,15%; Bpm bank -2,69%; Unicredit -2,39%. Well Mediaset, after Fininvest has further strengthened its presence as the first shareholder. They hold utilities with Italgas + 0,51%. Recordati salt of 0,35%.
