It's still oil slump. Those who hoped with the recent rebounds that the bottom of the barrel had been reached must instead deal with the WTI which even today is losing more than 4% to 30,34 dollars a barrel and Brent 3,53% to 30,03 dollars .
The WTI tries to defend the psychological threshold of 30 dollars a barrel, despite an intraday passage below this level, but has already almost completely canceled the gains of recent times triggered by rumors related to an agreement by OPEC producers for a production cut. At the same time, the decline in oil affects the accounts of the big names in the sector. After the announcement of Vallourec are the accounts of BP which recorded in the fourth quarter of the year a drop in profit of 91% to 196 million dollars against 2,24 billion in the same period last year. The whole of 2015 closed with a loss of 6,48 billion.
Thus, oil stocks weigh down world price lists, with Europe widening its declines in the wake of Wall Street's performance. The Ftse Mib closed down by 3,05%, the worst European listing, Paris -2,47%, London -2,28% and Frankfurt -1,97%. In the morning, however, Asia rebounded in Shanghai (+2,29%), after the Central Bank of Beijing injected another 100 billion yuan with short-term operations. The Dow Jones at the close of Europe dropped 1,22% and the S&P500 1,16%. Exxon loses 1% in the wake of the accounts for the quarter which closed with a drop in profit of 58% to 2,8 billion, the worst result since 2002.
On the macroeconomic front, data on unemployment was released in Europe, which recorded a new decline. In Italy, Istat announced that in December unemployment in Italy returned to growth by 0,1 percentage points, settling at 11,4%. In 2015 as a whole, however, the overall number of unemployed in Italy decreased (-8,1%). On the Brexit front, Cameron reported that the EU's proposals to prevent Britain from leaving contain "real progress", but "there is still work to be done".
Eni suffers in Piazza Affari, -4,79%, also affected by the S&P rating agency which placed the company under observation, together with four other oil groups, for a possible change in rating. In particular, these are BP, Repsol, Statoil and Total. The decision is expected two weeks after the publication of the 2015 results. Also on Monday, the agency also cut Royal Dutch Shell's rating from 'AA-' to 'A+'. Saipem's capital increase rights collapse again -21,52%, worst stock in the Ftse Mib.
Financial stocks also down, which are also affected by the bail-in issue. Among the worst of the Ftse Mib, Bmps -8,24% and Bper -6,28%. Unicredit -3,24%, Ubi -5,21%, Intesa -3,43%. Sales also on Banco Popolare -1,66% and Bpm -5,53% in the spotlight for the M%A. The spread widens to 118 basis points, +5 points, and a yield of 1,5%
Ferrari Sales Flurry -9,59% which also ended up in the volatility auction afterwards expected accounts and estimates for 2016. Among the worst blue chips Stm -5,84%.
Only Atlantia closed positive on the Ftse Mib, gaining 0,4%. Spotlight on Banzai which closes down by 0,88%, despite possible interest from Mondadori.
