CARS, BANKS AND UTILITIES DIVE. TSIPRAS AND KIEV SINKING THE EUROPEAN LISTS
Greece, Ukraine and, albeit less dramatic, the crisis of the Chinese economy. A combination of negative factors rained down on stock markets, resulting in a bitter Monday. Piazza Affari, down to a minimum of 2,4% (closing with a fall of 1,90% (Ftse Mib index at 20.366 bp). Madrid -2,41% worse. Frankfurt -1,76% also worse , the hardest hit by the Ukrainian crisis. Paris also down -1,15. London does better -0,31%. The Greek index lost 4,75%.
In Europe, all the Stoxx sector indices are down, with the greatest losses for the Automotive (-3%), Banks (-1,8%) and Utility (-2%) sectors. The government bond market is nervous. Greek 10-year bonds saw the yield climb to 10,48% from 9,94% on Friday. The BTP also weakens, whose yield rose to 1,65% from 1,57% on Friday. Meanwhile, capital runs towards the German Bund, with the yield falling to 0,34%, from 0,37% on Friday. The euro is stable against the dollar at 1,131 and also against the Swiss franc at 1,04.
On the stock fences, the auto sector pays a heavy price for pessimism, as usual the most sensitive to the mood of demand. Fiat Chrysler fell by 2,9%, Pirelli -1,5%. German groups dragged the Dax down: Volkswagen lost 2,9%, BMW -4,1%. Difficult day for the banks on the eve of the accounting season. Intesa fell by 3,2%, Unicredit -2%, Mediobanca -2,3%. The popular banks were also down: Pop.Milano lost 2,6% and Banco Popolare dropped by 2,8%, Ubi -2,5%. Today the Chamber votes on the preliminary rulings placed by the oppositions on the examination of the reform. The governor of the Bank of Italy, Ignazio Visco, spoke on Saturday of the need to launch a "bad bank" in Italy supported by the state, able to lighten the burden of non-performing banks' balance sheets. The news helped MontePaschi: in closing, the stock recorded a limited decline of -0,3%. In Paris, BnpParibas lost 2,9% after JP Morgan downgraded the stock to Underweight from Neutral by cutting the target price to 48 euros from 58 euros.
Telecom Italia's losses were halved in the afternoon -1,3%. Utilities are bad: Enel -2,5%, conditioned by the prospect of the Treasury placing a 5-6% share on the market. Strong drop for A2A -3,1% after the news that in the second half of January the Municipalities of Milan and Brescia sold 1,5% of the share capital. The two administrations still have about 3% to sell.
Enel Green Power loses 1,8%, Snam -3%. Atlantia is also bad -2,6%. They correct Finmeccanica -2,3% and StM -2%. Oil rose on the third consecutive day of gains: Brent at 58 dollars a barrel (+1,3%), Wti at 53,5 dollars (+3,5%). Eni slows down -0,7% while the relaunch of Saipem continues, gaining 2,2%. Tenaris +2,8%. Oil rose on the third consecutive day of gains: Brent at 58 dollars a barrel (+1,3%), Wti at 53,5 dollars (+3,5%). Lastly, luxury is down: Ferragamo loses 2,9%, Tod's -2,6%.
