Markets in sharp decline, after the records of the past few days. In Milan, the FtseMib index fell by 1,05% to 16.953, the London Stock Exchange fell by 1,11%, Paris -1,42%, Frankfurt -1,43%.
Meanwhile the collection BTP Italy orders it has already passed, at 10 am, the threshold of 30 billion. In the wake of this success, the spread between ten-year BTPs and the Bund is reduced to 2 basis points, with an advantage of 273 bp over Spain.
Le European stock exchanges thus they turn their backs on the US economy, which is recovering, and look anxiously at the consequences of the slowdown of the Chinese Dragon. The warning launched by Bhp Billiton, a mining giant, on the lower absorption of iron by Chinese industry was confirmed by the news of the further slowdown in the car market.
The sharp decline in the auto sector does not spare Fiat -3,12% which, in truth, is practically absent in China (Chrysler alone sold 40 vehicles in 2011) and Fiat Industrial - 2,07%, on the contrary, very present in the eastern country. The losses of the Big Germans were much more massive: BMW - 4,3%, losses of more than 3% for Daimler and Volkswagen.
For European car companies, "a painful transition process is needed" to restructure. This was stated by the CEO of Fiat-Chrysler, Sergio Marchionne, during a press conference in Bruges.
Other industrial stocks down, Finmeccanica drops by 1,6%, Prysmian loses 1,9%, StM -2,34%.
The battle over the insurance pole is still in the spotlight. Premafin, after the suspension due to excess increases, rises by 12%. Slight drops for Unipol and Fondiaria-Sai. In the afternoon Palladio and Sator will illustrate the alternative industrial plan to the operators.
Among banks massive losses for Banco Popolare – 2,03%, Ubi -1,6%. Understanding -0,87%.
Il Oil prices it is down with Wti traded at 107,6 dollars a barrel (-0,3%), Brent is indicated at 124,6 dollars (-0,8%).
Oil stocks fall. Eni –0,9%, Tenaris -1,4% Saipem -0,7%. Collected for Diasorin +2,23%, the most prominent blue chip. Signs of recovery for the utilities Terna +1,23% and A2A +018.%.
Recommended Cir +4% after the confirmation of the negotiations for the sale of Sorgenia to the Russian company Inter Rao.
