Piazza Affari closes worst in Europe, hit by sales on banking and finance. The Ftse Mib drops 2,18%. At the bottom of the basket: Unicredit -6,3%, Bper -5,79%, Azimut -5,46%, Bpm -5,26%, Ubi Banca -4,89%.
The rain of sales on financials is favored by the reading of the minutes of the central banks. The Federal Reserve has underlined that, once the Brexit effect is over, the most immediate danger to financial stability is linked to Italian banks. The declines are explained by the technical deadlines on the list (futures on options and on shares) and the breaking of the support of 16500 points.
The other main European price lists are also in red: Paris -0,82%, Frankfurt -0,55% and London -0,15% where the focus is on Easyjet for takeover items. The Btp-bund spread widens to 117 points and a yield of 1,14%.
On Wall Street, the indices are down slightly. Eye on Deere and Foot Locker after better than expected results. The day is devoid of significant macroeconomic data as the markets are already looking to next week both in terms of economic indicators and in anticipation of the Jackson Hole symposium.
The greenback recovers ground and the euro-dollar exchange rate reaches 1,1324 (-0,22%). The pound once again lost ground against the euro and the dollar, slipping to 1,3044 dollars and 0,8678 per euro. Weighing are the new rumors about the timing of Brexit which would see the United Kingdom start negotiations to leave the EU in the first half of 2017.
WTI oil dropped 0,25% to 48,1 dollars a barrel and Brent dropped 0,77% to 50,5 dollars a barrel. There are no stocks in positive territory on the Ftse Mib. Cnh limits the damage (-0,86%) aided by the upward revision of the 2016 estimates by its competitor Deere. Telecom Italia (-1,3%) has opted out of the reorganization of Mediaset Premium pay-TV. Outside the main basket, the Rcs are still recovering, which were suspended in the volatility auction during the session and close up by 4,3%.
