Stock exchanges on sale from Tokyo to New York, passing through Europe, during a long Black Tuesday in which oil also collapsed. Business Square it closed down by 1,87%, falling to 18.471 points. The worst title is Saipem, -7,22%, but the banks are also suffering because of the rising spread. Bucking Is in the, +0,79%, after business plan and the commitment to the minimum guaranteed dividend for 2018-2021. You save A2a ,+0,2%.
The same red thread binds Frankfurt, -1,58% (Deutsche Bank , -4,6%, at historic lows); Paris -1,21%; Madrid -1,57%; London -0,79%. A key part of the skein starts from Wall Street, still dragged down by Apple (-3%). However, financial guru Warren Buffett takes advantage of it and increases his position on the Cupertino stock by another 100 million dollars. The Faangs (Facebook, Amazon, Apple, Netflix and Google) are all in Bear territory and have collectively lost over $XNUMX trillion in capitalization since their respective records. Down the ratailers with Target in deep red (-10%), a not very encouraging sign in view of the holiday shopping season.
The economic climate on the other hand cools down. Indeed, growth slowed down in the 36 industrialized OECD countries in the third quarter: +0,5%, against +0,7% in the previous three months. Among the G7 countries, the GDP shows a contraction in Japan (from +0,8% to -0,3%) and in Germany (from +0,5% to -0,2%). Slight slowdown in the USA (from +1% to +0,9%). Italy goes from little to nothing (from +0,2% to 0). A premise that increases concern on the eve of the European Commission's opinion on budget laws. The sanctioning process against the Belpaese, for failure to comply with the debt constraints, now seems to be upon us, while the players in the yellow-green government are not lowering their tone. Only Economy Minister Giovanni Tria says he is concerned about the rise in the spread. In fact, he has a reason: even today it is spread between Italian and German bonds it takes another step forward (+3,25%), reaching 326.80 points (after a foray beyond 330), with the yield on the Italian ten-year bond at 3,62%. Demand also remains weak BTP Italy on the second placement day reserved for retail, after yesterday's flop.
To complete a not very reassuring daily picture, the collapse of the Petroleum. Brent crude dropped 4,91% and fell to 63,51 dollars a barrel. The WTI, -5%, 54,34 dollars a barrel, is worse after losing about 20% from the peak in early October. The market continues to fear rising global inventories and an economic slowdown, which would weigh on demand, while the US and Saudi Arabia are on opposite sides on a production cut.
stable the over 1223,6 dollars an ounce.
On the currency front, theeuro it weakens against the other major currencies and fluctuates in the 1,14 area against the dollar.
The count of the wounded in Piazza Affari starts, among the blue chips, from Saipem. Among the banks the worst are Bpm bank, -5,42% and Banca Mediolanum -4,47%. Sales on Moncler -3,97% ed Exor -3,4%.
