A torpedo from Athens sinks the European markets. The nightmare of Grexit returns, amplified by the cut in the estimates of the European Commission on Greece. Wolfgang Schaeuble, while denying the ultimatum of the IMF reported by the Financial Times, repeated that he "has little faith" in an agreement with Athens. Greek Finance Minister Yanis Varoufakis also said there would be no deal before the May 11 Eurogroup meeting.
Another tile comes from the USA: the trade balance reports the worst figure in the last six years and economists fear that the revised data on GDP for the first quarter could signal that the US locomotive has returned to negative territory.
The American Stock Exchange opened slightly lower: S&P500 index -0,1%, Dow Jones index -0,1%, NASDAQ index -0,2%.
The Greek storm caused a sharp decline in Piazza Affari. The Ftse Mib index falls by 2,76%, to 22.576 points. The drop in Madrid (-2,74%) and Frankfurt (-2,51%) was slightly lower. Paris -2,12%. London, now on the eve of the vote, lost 0,84%.
The downpour of sales on the debt market was dramatic. The yield of the 10-year BTP rose to 1,78% from 1,55% this morning, the spread widened to 127 (+20 basis points). Values in line with those of the Spanish Bonos. The 10,95-year Greek government bond returns 10,34% from XNUMX% yesterday.
The euro/dollar exchange rate is indicated at 1,117, from 1,111 this morning.
Banks close in negative ground: Unicredit loses 3,70% and Intesa drops by 3,21%. Monte Paschi goes against the trend (+4,59 to 0,58 euro), on very high volumes.
Bad day for Generali (-3,32%), downgraded from Barclays to Equal Weight from Overweight. UnipolSai (-4,89%) is not doing better.
Dramatic also the descent of Luxottica (-4,2%), which yesterday evening announced results for the first quarter. Moncler (-2,5%) and Tod's (-2,2%) also declined in luxury.
Heavy decline of Telecom Italia (-4,41%) and Mediaset (-4,68%). StM leads the decline in industrial stocks with a decline of 3,6%.
FiatChrysler holds (-0,45%), helped by the strong growth of car sales in Italy in April.
