La Syriza victory in the Greek elections produces an effect on the markets, but not the storm held by some analysts. In the first exchanges, i Athens 10-year government bonds they mark a rate of 8,683%, slightly up from the 8,386% recorded at the end of Friday.
In Italy, however, the BTP-Bund spread it expands slightly. After the new low of 110 basis points reached on Friday in the wake of the quantitative easing of the ECB (session closed at 119), today the yield differential between Italian ten-year bonds and German bonds with the same maturity opens the session at 122 basis points, but then falls back to 118. The yield of the 10-year BTP is stable compared to Friday (1,51%).
On the currency front, during the Italian night the euro it collapsed on the Asian markets, reaching 1,1088 dollars, the lowest threshold since September 2003, before recovering up to 1,1180. In the morning, however, the single currency recovered ground, returning to an exchange rate of 1,1238 against the dollar.
As for the stock markets, Business Square – which closed the last seven sessions in positive territory – opened today in the red by 1,2%. This is the worst performance among those of the main European Stock Exchanges: in the same minutes, in fact, Madrid lose 1%, Frankfurt 0,2% and Paris 0,3%. Outside the Eurozone, London shows a drop of half a percentage point. The Exchange of Athens instead opens down by 2%.
