It still goes down oil and hits a seven-year lowthe. The WTI drops 2,56% to 35,82 dollars, the drop for the week is about 10%. The drop in crude oil and the wait for the Fed meeting on 16 December, from which the market is now expecting a rise in interest rates, depressed the sentiments of the European markets which closed in negative territory.
The Ftse Mib falls below 21 thousand points in the session to then close down by 1,84% at 21.015,29 points. Similar decrease for Paris -1,84%, sales in London -2,22% and Frankfurt -2,44% were more marked. The Btp-Bund spread rose slightly to 99 basis points and a yield of 1,54%.
The euro-dollar exchange rate rose by 0,55% to 1,1001. The drop in crude oil and commodities confirms the difficulties of the Chinese economy. The Chinese yuan fell to a nearly four-and-a-half-year low against the dollar, a move fueling growing questions about Beijing's foreign-exchange strategies.
European indices accelerated their fall with Wall Street proceeding in negative territory. The Dow Jones lost 1,49% and the S&P500 1,34%. Sales on DuPont after confirmation that the group and Dow Chemical have reached an agreement for the merger of equals which will lead to the birth of a company, DowDuPont, with a market capitalization of approximately 130 billion euros, a new chemical supergiant.
On the macroeconomic front, company inventories in October were below expectations. The figure remained unchanged compared to September while analysts had expected a 0,1% increase. The US consumer confidence figure was also slightly lower than expected, rising to 91,8 points in December from 91,3 in November, analysts had expected the index to reach 92. Retail sales in the US were also below expectations United States which increased by 0,2% in November, one tenth less than analysts' expectations.
In Italy, according to Istat, industrial production rose by 0,5% in October and was down 0,3% year on year, according to the raw index. In November, the Confindustria study center notes a drop in industrial production of 0,1% compared to October, when there was a 0,5% increase over September.
In Piazza Affari, sales hit financials. Anima plunges 6% after the announcement that net inflows slowed in November to 540 million from 820 in October. The total since the beginning of the year is 8,3 billion. In asset management, at the bottom of the Ftse Mib also Azimut -3,41%.
Bank sales: Bper -3,78%, Bmps -3,53% and Unipolsai -3,39%. Bucking two stocks resist on the Ftse Mib Cnh Industrial +0,15% and Ansaldo Sts 0,05%. CNH benefits in particular from Mediobanca's judgment for which there are four factors in favor of the recovery of the stock: the reduction of inventories in agriculture which can be a positive element for the agricultural machinery sector in North America, the recovery in trucks in Europe which continues and is making the group gain market share, refinancing actions which will continue to reduce the average cost of debt and a decreasing tax rate.
