THE ASIAN AND THE GERMAN JUDGES WEIGHT ON THE LISTS
THE SPREAD RISES, LUXURY AND BANKS UNDER FIRE
The storm on the financial markets is once again raging from East to West. But in the end the price lists limit the damage. However, Europe suffers, under the barrage on the banks and on the spread of Southern Europe which certainly does not benefit from the WTO process that has just begun Karslruhe. The US price lists are also suffering, hit, like the Old Continent, by the "Asian" one: in fact, the Chinese trade balance is slowing down, with serious damage to commodity and luxury stocks. The Bank of Japan does not widen the purse strings further, mortifying the greed of financial speculation, tainted by continuous injections of quantitative easing.
The result? Milan closes the session with a loss of 1,68%, Ftse Mib index at 16286 after losing up to 2,4%.
London -0,94%, Paris -1,39%, Frankfurt -1,03%. The worst is Madrid -2,15%.
Sul government bond market the 10-year BTP is trading at a yield of 4,37% (+9 basis points), after having exceeded the 4,40% threshold.
No less robust is the reaction of New York. US Treasury yields shot to new 14-month highs, the yen soared and equities sold off.
Around 16,30 Italian the Dow Jones loses 0,65%, the Standard & Poor's 500 0,80% as well as the Nasdaq.
Copper and nickel are down. Gold is also down at 1.373 dollars an ounce (-1,2%).
On the market of Petroleum Brent fell by 1,6% to 102,3 dollars a barrel.
The mining companies Anglo American and Bhp Billiton lead the declines on the London Stock Exchange with falls of 4,1% and 3,5%. In Amsterdam ArcelorMittal, the world's leading steel producer, fell by 3,1%.
Few blue chips in Piazza Affari escape the Bear: Rest + 1,68 %%, Parmalat + 0,18% Enel Green Power +0,18%. Unchanged Mediobanca and Mediolanum.
In Piazza Affari, the Asian influence hits the luxury stocks, the ones most exposed to oriental shopping: Ferragamo loses 2,15%, Luxottica -2,66%, Tod's -1%. The bad spread, on the other hand, weighs on the credit sector.
They retreat Understanding -2,87% (-4,5% in the most difficult moment of the session), MontePaschi -1,63%, Unicredit -1,25%.
The sovereign debt turbulence hits insurance even more than credit. In Europe, the insurance sector fell by 2,7% with losses of 3,4% for Axa and Allianz.
Generali drops by 1,42%. The company sold its minority interests in Mexico realizing a net capital gain of approximately 500 million euros.
Fondiaria-Sai marks a decline of 2,81%. Among industrialists heavy losses for Finmeccanica -3,75%. Pirelli also fell -2,39%. Almost unchanged Stm -0.07%.
Fiat -0,43% defends itself better than other industrialists.
Among the utilities, thud of Enel -2,9% downgraded by Credit Suisse on the eve of the bond launch.
Telecom Italy drops 1,8%, heavy Mediaset -3,94%, punished by the outcome of the elections. Finally, the drop in oil weighs on Eni -1,28%, Saipem drops by 1,35%.
