Black Wednesday for the markets, after the rally of the last few weeks, a thud that bears the imprint of Donald Trump, at risk of impeachment, amid Russiagate and journalistic revelations on the dismissal of FBI director James Comey.
Milan is the worst place in Europe and closes with a loss of 2,31%, at 21.283 points, with the Ftse Mib entirely in the red; Buzzi Unicem drops sharply (-6,08%). The Piedmontese cement multinational pays tribute to the slowdown in the US construction market, but also to the fear that the American president will not be able to implement his economic and infrastructural program.
The other European markets were weak: Paris -1,63%; Madrid -1,79%; Frankfurt -1,35%. More sober London, -0,25%. Wall Street opens negative and worsens at least until mid-session, especially with banks. The financial sector of the S&P 500 is weighted by Bank of America, JPMorgan and Goldman Sachs. At the same time, the fear index, the Vix, soars about 19%. At the origin of this climate of distrust, there is a revelation from the New York Times, according to which Trump asked Comey to close the investigation into Michael Flynn. An interference with a federal investigation that does not bode well and, even if the White House denies it, the rumor undermines the credibility of an administration already grappling with sharing confidential information with Russia.
In this context, the dollar leaves behind all the gains made since November. The single currency strengthened against the greenback by 0,54%, trading at 1,14 and touching the maximum for over six months. Investors are looking for safe havens, such as gold, which has returned above 1250 dollars an ounce: +1,55, 1256,33 dollars.
However, oil is positive and is gaining ground with the data on US weekly stocks decreasing, albeit less than expected: Brent +1,47%, 52,41 dollars a barrel. The Italian bond remains well tuned, the ten-year yield falls to 2,17% and the spread with the Bund to 178.40 points (-0,61%).
Meanwhile, thanks to requests for 494 million today, the last reserved for retail investors, the BTP Italia closes with final orders from savers amounting to a total of 3,29 billion. The total demand for the retail sector of the October edition had stopped at 2,2 billion.
In the sessions of Monday 15th and Tuesday 16th, the share had recorded requests for approximately 2,7 billion euro, 1,62 billion on the first day, 1,08 on the second. Tomorrow the offer will continue with the morning dedicated to institutions, from 9 to 11.
In Piazza Affari, on the other hand, the bill for the day is rather high. The worst stock is Buzzi Unicem, but the downpour in sales also hits Fiat, -4,59%, after the news that Brussels has opened infringement proceedings against Italy for failing to fulfill its obligations under EU rules for the homologation of vehicles by FCA. The performance of the share infects Exor, -3,33%. Leonardo's thud -3,99%. Negative fate unites the financiers. The heaviest losses are for Ubi Banca -5,36%; Unicredit -4,27%; Banco Bpm -4,14%; Unipol -3,29%, Finecobank -3,31%. Sales on securities linked to the dollar such as Stm -4,68% and Cnh -3,49%. Not even fashion was saved, with Moncler losing 3,82% and Ferragamo 3,62%.
Outside the main basket, the positive phase of Banca Carige continues, +1,38%, which stands out in a bank index down by 2,91%. Session to forget for Mondadori -5,81%.
