The comeback started in the afternoon, when the European stock exchanges seemed destined for another dramatic ending. In the end Piazza Affari closes the session down by 1,14%, in strong recovery from the negative -3,5% accused at the start.
Frankfurt's Dax loses 2,29%, Paris -1,72% and Madrid -1,5%. During the session the European indices came to touch double losses.
The yield of the 10-year BTP it fell to 1,5%, the lowest level since the beginning of December, with the spread at 100 basis points.
Wall Street also recovered from the lows thanks to the news that the Chinese authorities have decided to suspend the new rules that provide for the stop of trading when the decline reaches 7%. The S&P500 is now down about 1%.
Oil prices improve, which fell today at the prices of 17 years ago. Oil volatility was very strong with Brent and WTI reaching losses of 5% (32,16 Brent) before then climbing back up to 34 dollars a barrel.
The euro sharply recovered against the dollar to 1,085 from 1,078 yesterday.
Gold is up four times in a row and it pushes to touch 1.105 dollars for the first time since mid-November. Since the beginning of 2016 it has gained 4%.
The rebound of Piazza Affari was of particular interest luxury stocks, the most targeted in recent sessions, and utilities, the most solid sector, which closed the day with a plus sign: Snam +0,08%, thanks to the promotion by Golman Sachs. A2A earns 1,06%, Terna 0,25%, Enel +0,4% and Enel Green Power +0,7%.
As far as luxury is concerned, Ferragamo recovered and closed sharply, gaining 2,53% in the final. Very good Yoox + 1,95% and Moncler + 0,49% after the strong losses of the morning.
The afternoon "resurrection" did not involve Montepaschi -3,28%, among the worst stocks on the list with yet another new all-time low. On the other hand, Unicredit recovered, which started with -8% and then closed at -2,5%. Losses also for Azimut (-2,8%), and Anima (-3,98%) which expanded the downward movement of the market. Red recovers in the final Generali which, once the seduca is over, yields 0,19%. Fiat Chrysler also in the red -3,3%, weighted by data from Brazil.
