European stock exchanges widen their declines after the opening of Wall Street, where the Dow Jones is currently down 0,46%. The worst places are Milan, which slipped by 1,2% in the early afternoon and Paris, down by 1,83%, also penalized by a report by Credit Suisse, which considers French shares too expensive in terms of price and earnings (P/E), given negative earnings momentum. Down also Frankfurt (-1,43%), which therefore blocks the upward trend that began six weeks ago, since it gained more than 6%, London (-0,75%) and Madrid (-1,1%). Very few are saved in the Milanese list, among which Autogrill stands out, close to +1% after the declarations of the shareholder Gilberto Benetton on the forthcoming acquisitions abroad. Instead, the bad day of Telecom Italia continues, down by more than 3%, followed by the industrial sector: Buzzi, Gtech, Prysmian and Cnh Industrial, all around -3% just before 16 pm.
The further negative trend was dictated by the opening of Wall Street, marked by negative data from the USA: after the positive macro data published yesterday, including the ISM index of manufacturing activity which continued to accelerate in November for the sixth consecutive month, today fears about the slowdown, earlier than expected, of the monetary stimuli of the Fed, which will meet on 17 and 18 December, have rekindled. Now the spotlight is on Friday on US job data.
