Overwhelmed by the Deutsche bank case, they shouldered the banks in Piazza Affari and dragged the blue chip index with them. The Ftse Mib drops 2,43%, worst in Europe. The other indices are also bad: Paris -0,93%, London -0,30% and of course Frankfurt -1,49%. The German bank Deutsch bank risks having to pay a fine of 14 billion to the US authorities for the sale of securities linked to real estate mortgages, of the subprime season. The German institute said it has no intention of paying a similar amount, adding that "negotiations have just begun".
In Piazza Affari the worst title is Mps -9,34%, hit in the session by suspensions due to excessive downtrend. The capital increase should be carried out without the option right in favor of the current shareholders, who do not seem so inclined to join the third recapitalization in three years. Thus the hypothesis of a private placement emerges, in addition to the conversion of a part of the bonds. Various suspensions also among other bank stocks. Still at the bottom of the Ftse Mib we find Azimut -6,35%, mediobanca -5,8%, Unicredit -5,79% and Banca Mediolanum -5,54%.
The Btp-bund spread closed up at 134,4 basis points and a yield of 1,35%.
Lhe sales are also hitting Wall Street today with the Dow Jones shedding 0,37% and the S&P500 0,42%. For the first time since the dot.com era, the S&P 500 has a new sector, 3th. After the close of today's session, S&P Dow Jones Indices will spin off real estate companies from the financial sector, creating a new fund that will be equivalent to about 500% of the capitalization of the S&P XNUMX. Eyes on Intel which has raised its estimates of third quarter revenues .
Today it was published the inflation figure which rose by 0,2%, higher than expected. The recovery in inflation raises fears of a rate hike by the Fed. Consumer confidence was stable in September at 89,8 points. The dollar strengthens against the euro with the exchange rate reaching 1,115845 (-0,77%).
Crude oil fell more than 1% on fears of oversupply after exports from Iran surged and Libya and Nigeria returned to the market. Brent lost 1% to 46,14 dollars and Wti 1,4% to 43,28. Eni marks a drop of 2,27%. Only Italcementi +0,09% is in positive territory on the Ftse Mib. Poste Italiane slipped by 0,9%, after holding out in the session in positive territory, on the day of the announcement of the purchase of a stake in Sia, a company that deals with e-money and payments. FCA -2,06% after the announcement of the recall of 1,9 million vehicles.
