From Germany to Hong Kong, fears about the slowdown of the European locomotive and the new Asian tensions will land on the European lists. Let's add the terror of an Ebola and Draghi pandemic which once again reiterates the further loss of momentum of the economy and the collapse is assured. TO Milano the good demand for the Bot auction is not enough and the Ftse Mib closes down by 0,9% while the spread widens to 143 basis points. Paris (-1,64%) on the lows of 2014, London (-1,43%) to its lowest since October 2013, e Frankfurt (-2,4%) on the lows of 2014.
Austerity is starting to hurt even the virtuous like Berlin and the same IMF raises the red flag: "The EU countries where the budget targets have not been achieved due to lower growth should not compensate with new measures - said the head of the European department of the IMF, Paul Thomsen - In general, good things were done in 2013 progress towards budget balance and all countries have made major adjustments”.
Meanwhile from Washinton where the Annual Meetings of the Fund are underway, number one Christine Lagarde renews the alarm on the excessive assumption of financial risks and the limited assumption of economic ones: "the financial sector could fly too close to the sun", he said, recalling that "history teaches us a clear lesson: the greater the boom, the greater the collapse”. The risk is that a sudden change in trust could have knock-on effects on the whole world. The euro traded down 0,43% against the dollar at 1,2635.
The market is now waiting for the speeches of some members of the Fed and the verdicts of rating agencies expected with closed markets: Moody's will pronounce on Italy's sovereign rating which is now at Baa2 with a stable outlook. Also today, S&P will pronounce on France and Finland. In Italy, Istat released data on industrial production for the June-August 2014 quarter, industrial production which decreased by 0,3% compared to the previous quarter.
On Wall Street, the indices moved mixed: the Dow Jones was positive +0,27%, the S&P500 was in the red -0,28%, the Nasdaq -1,14%. On the price lists there is a generalized escape from semiconductors after the profit warning of Microchip Tech.
It also falls stm in Piazza Affari: -5,49% and worse title of the Ftse Mib. Bad too wdf (-3,28%), Prysmian (-3,23%) And Tod’s -3,15% which still estimates single-digit growth in turnover. Mediolanum -3%. Fininvest will have to sell the share that exceeds 9,9%, approximately 20%, as a result of the provisions of Bank of Italy and Ivass. Indeed, after the judgment on TV rights became final, Silvio Berlusconi lost the requisites of good repute required of a controlling shareholder in the banking and insurance world.
Fiat (-2,12%) in the last "only" Italian session of its history. The merger will take effect on October 12 and the ordinary shares of the new FCA group will be traded on the American stock exchange Nyse at 9.30 (American time) and immediately after on the MTA, as communicated by Borsa Italiana. Oil producers are seeing red as crude runs to the bottom with WTI trading down at $85,65 a barrel. Eni -2,29% and Saipem -2,86%.
Featured on the Ftse Mib Banco Popolare (+ 2,41%), Finmeccanica + 1,76% Moncler (+1,39%) against the luxury trend, Campari + 1,08% Mediaset + 1,05%.
