The tension over the Brexit referendum unfortunately goes beyond financial borders: a Labor MP, Jo Cox, was seriously injured by gunshots during a public meeting. The assailant, who was arrested, would have shouted "Britain First", a gesture which therefore appears to be directly related to the referendum campaign on permanence in the European Union. The pro-Brexit front has suspended propaganda activities as a sign of respect.
The strain on the fate of Great Britain sends European stock markets back to the bottom after just one day of rebound. Thanks to a strong recovery in the last half hour (which someone links to the episode involving the British Labor party and which could influence the outcome of the referendum in favor of remaining in Europe) the European indices manage to close with a recovery compared to the intraday lows: the Ftse Mib drops 0,98%, after a drop of more than 2%. The other main European markets are also down, with more contained declines: Paris -0,45%, Frankfurt -0,59% and London -0,27%.
Thus the race towards safe havens continues with gold rising again and reaching above 1.300 dollars an ounce, the highest for two years. The German Bund updated new historical lows during the day (-0,02%) and in parallel the Btp Bund spread reached its one-year high at 157 basis points and a yield of 1,56%.
On the markets, in particular, the words of Fed chairwoman Yellen yesterday evening reinvigorated tension on the markets: Brexit is "dangerous" and could have consequences on future economic and financial conditions and will remain "a factor in future decisions". In addition, the Bank of Japan's decision to postpone its decision on further monetary policy stimulus also weighed on sentiment. At the same time, the Eurotower has raised a cry of alarm about the growth prospects of the Eurozone in relation to the Brexit risk.
On the macroeconomic front, the Naha real estate market index rises above estimates to 60 points, as did the Philadelphia Fed manufacturing index in June, which rose by 4,7%. On the other hand, the employment front is still worse than the estimates: the initial requests for unemployment benefits rose by 13 to 277.
In Piazza Affari, sales hit the banking sector with Mps in particular losing 3,3% and Unipol 3,5%. Unicredit -2,22% as the "auditions" for the new CEO begin. However, the worst stock is Cnh Industrial -3,7% while Saipem also falls -2,35%. Oil archives a new session of declines: the WTI loses 3,6%. Sales also on Gca despite the positive data on European registrations in May, in particular FCA -1,19% recorded an increase in sales of 25,3% compared to +15,5% of the overall market. Azimut +0,98%, Exor +0,62%, Enel +0,51%, Ferragamo +0,21% and Campari +0,18% stand out against the trend on the Ftse Mib.
