TELECOM ITALIA CONSOLA BUSINESS PLACE BEATING ON GVT
US GDP DOES NOT EXALT WALL STREET. UKRAINE IS SCARY
Brusco stock market decline in the face of the worsening of the crisis in Ukraine. The US State Department has confirmed that the Russians are "probably" fighting in Ukraine. Poroshenko asks for military help from the EU.
Piazza Affari suffers the most significant loss: the Ftse Mib index -2,03% the yield on the 20.341-year BTP worsened after the happy outcome of this morning's auction at 2,43: 2,38% against 1,12% on the eve, an absolute record. The other markets are also in the red. Frankfurt drops by 0,66%, Paris -1,06%, Madrid -0,36%. London caps the damage at XNUMX%.
In Europe the sectors declining the most are commodity stocks (Stoxx -2%), cars -1,6%, banks -1,2%. Negative session also for US price lists: Dow Jones -0,32%, Nasdaq .0,21%. S&P500 .0,3% again below the 2000 level. Awaiting tomorrow's data on European inflation, confirmations are arriving on the European crisis: employment also slightly down in Germany, consumption down in Italy: the 80 euros in paychecks are not have produced results.
The most relevant macro data is the strong growth of the American GDP, which rose in the second quarter at a rate of 4,2%, well beyond the forecasts of +3,9%. The increase rekindled fears of an imminent rise in US rates, contributing to depressing the stock market. However, the dollar strengthened against the euro to 1,317, from 1,319 at yesterday's close.
Piazza Affari rewarded Telecom Italia +1,8%, defeat in the battle for control of Gvt. Operators like that the effort (1,8 billion) required has been avoided to recapitalize Tim Brasil in view of the merger with the Carioca subsidiary of Vivendi which, probably, will enter the same Italian company by taking over the 8% stake offered by Telefonica. Mediaset loses 1,7%.
Sharp declines among banks, after the conspicuous gains of recent days: Ubi Banca loses 3,5%, Banca Popolare dell'Emilia -1,8%, Banco Popolare -4,1%, Pop.Milano -2,9%, Unicredit drops by 2,7 .3%, MontePaschi -2,7%, Intesa -XNUMX%.
Bad the insurance: Generali -1,7%, UniplSai -1,9%.
In the rest of the list in decline Enel -2,5% and Eni -1,7%. Among the industrial stocks, Buzzi falls -3,4%. Fiat -1,3%, Finmeccanica -1,6%.
Brunello Cucinelli drops by +0,4% in the afternoon. Yoox -2,3 and Tod's -2% are down.
