SPREAD AND THE STOCK MARKET, ITALY SUFFERS THE MOST
BANKS UNDER FIRE. LIKE TO IMPREGIT IT
Le European stock exchanges they are awaiting, without major hints, the data on US employment. With the exception of Milan.
Piazza Affari suffers from the climate of uncertainty which has opened up in the Italian political landscape. The FtseMib index -1,12% at 15.617 accentuates its descent with widespread declines among the blue chips.
The most sensitive thermometer is usual the Btp/Bund spread, up this morning to 332, 6 basis points more than yesterday. The 4,62-year BTP yield has sadly returned to 4,41%, from a low of XNUMX% three days ago.
The other Stock Exchanges were slightly down: London - 0,17%, Paris -0,28%, Frankfurt -0,2%.
In Europe, on the other hand, this morning the Bundesbank released the new GDP growth estimates for Germany for 2012 and 2013, corrected downwards compared to the previous forecasts. For the current year, the German central institute now sees growth of 0,7% compared to the previous forecast of 1%, while in 2013 the GDP is estimated at +0,4%, down from the June forecast of +1,6%. In 2014, the largest economy in the euro area should instead return to growth at a rate of 1,9%.
The euro is down sharply against the dollar to 1,292, from 1,297 at yesterday's close. Yesterday, President Mario Draghi hinted that the ECB could lower interest rates in the euro area.
The banks suffer: Unicredit drops by 1,68%, Intesa-1,47%, Mediobanca -2.09%, and MontePaschi-1,11%.
Also bad insurance: Generali -1,29%, Unipol -1%, Mediolanum loses 2%.
In Piazza Affari, the rise of Impregile it +2,9% after yesterday's presentation of the new business plan.
Reduces the rise Telecom Italy +0,07%, after yesterday the board mandated management to deepen negotiations with the CDP for a possible joint investment in the new telecommunications network.
Industrial stocks are down: Fiat -1,4% and Finmeccanica -2,24%, StM falls by 1,19%.
Enel drops by 1,54%: ubs put it in the list of titles not to own (least preferred). A2A drops by 3,22%, Enel Green Power -1,28%.
Eni retreats by 0,9% e Saipem drops by 1,77%.
