Piazza Affari almost like Shanghai. While the Asian market is closed for the Chinese New Year, the Ftse Mib drops by another 4,7% and brings the decrease since the beginning of the year by almost 19%. Shanghai scores a 2016% red in 23. Asian stock exchanges will remain closed throughout the week with the exception of Tokyo (closed only on Thursday) which ended the session up 1,1% today.
In Piazza Affari, the bursts of sales mainly affect financials and 13 stocks end up in the volatility auction. Furthermore, the spread is back in turmoil, which jumped by 19 basis points to 147 basis points, the highest since July 2015, and a yield of 1,7%.
The yield on the Bund is back below 0,3%. The periphery is back in tension even under the Acropolis: the Athens Stock Exchange, at its lowest since 1990, after a drop of 10% intrady closes in the red by 7,6% in the wake of fears about the stability of the Tsipras government hit by strong protests for the pension maneuver wanted by the Troika in July 2015.
The other European markets also fell sharply: Paris -3,20, London -2,71%, Frankfurt -3,30%, the lowest since 2014. The sales hit Deutsche Bank which however denies problems in repaying subordinated bonds. However, the fear of the bail-in sinks the entire sector in Europe with the Eurostoxx sector index nearly a 6% drop.
The stocks accentuated the losses with Wall Street, a heavy game with the drop in crude oil and sales on tech companies. WTI oil dropped 1,62% to 30,39 dollars a barrel. The euro-dollar exchange rate rose slightly by 0,28% to 1,18. Gold is rallying +1,84% to 1195 dollars an ounce. The Dow Jones drops more than 2% below 16 points, the S&P500 2,24%, where sales hit energy and financials. The Nasdaq 2,8%, the lowest since October 2014 Down Twitter that falls below 15 dollars: the company struggles to increase the number of users. Sales also on Facebook.
In Piazza Affari the collapse is vertical for the banks with Bmps closing with a loss of 11,95%, Bper of 11,93%, Ubi Banca -10,48%, Poste Italiane -10,44%. But the worst stock in the Ftse Mib is once again Saipem -25,29%. Last Friday, the last day of negotiation of the option rights for the 3,5 billion euro capital increase, the oil company published a supplement to the prospectus, in which it highlights that S&P has formally started the credit procedure watch with possible negative implications for the BBB- preliminary credit rating. However, the rating agency's decision, taken in the wake of the collapse in oil prices, could result in substantial unopted.
None of the blue chips ended the session in positive territory. The following stand out in the Star: Landi Renzo +13,38%, Engineering +3,39% at 64,10 euros per share, after the NB Renaissance and Apax VIII funds signed an investment agreement for the purchase of approximately 37,1% at 66 euros per share, at the end of which a mandatory takeover bid will be launched at the same price. Mutuionline +2,10% and Txt +1,08%.
