Switzerland off the laces to the franc that earns 18% on the euro … – Quotidiano.net

Switzerland off the laces to the franc that earns 18% on the euro … – Quotidiano.net

Rome, January 15, 2015 – High appreciation on European stocks (Zurich ruled that closed at -8.84% after being finished to -12%) at the end of a crazy day on the currency market . ‘Market mover’ the Snb (Swiss National Bank), which has ‘liberated’ from the franc planned change of 1.20 francs per euro, appreciating immediately up to 30% (absolute record for the franc, which has also gained against the yen ), then settling to 1.02 (+ 18%). The collapse of the euro against the Swiss currency has also immediately reflected on the dollar-euro exchange, fell up to 1.15 (from 1,177 of the morning).

NEGATIVE INTEREST RATES – Even analysts does not seem too convinced of the decision of Bern and fear that the franc back to rise too. For this, and that is to curb excessive rise of the franc, the Swiss central bank, along with the elimination of the roof, has decided to cut rates, reducing by half a percent discount rate to -0.75% and lowering the same way the fork of the Libor rate now ranges between -1.25% and -0.25%. The Stock Exchange Zurich obviously did not like: among the giants of the credit UBS marks -12.1%, -11.6% Credit Suisse and Julius Baer -11.2%. Losses in double cicfra amnche for Swatch, Richemont and the other giants of luxury.

QE COMING? – The markets have assessed the decision of the BSE rid of reserves in euro as authoritative confirmation that the January 22, the ECB will announce the much-discussed QE (purchases of government bonds on the primary market) to be traced back inflation. All European stocks are so ascents: Piazza Affari the FTSE-Mib closed together in Paris at + 2.36%, followed by Frankfurt (+ 1.94%) and London (+ 1.38%) and Madrid (+ 1.28%). Wall Street did not appreciate the move Swiss and two hours from the start of trading remains in negative territory.

BLUE CHIPS – Intesa and Banco Popolare the bank more toned in Milan ( with rises above 2%). Smaller but still significant exploits Popolare Milano, Ubi Bank and Unicredit. Still weak Mps (+ 0.61%), whose management continues to work on recapitalization plan required by the ECB. Credito Valtellinese and Banca Popolare di Sondrio are both up by more than one percentage point: with the franc rising increase spending Swiss border in the Italian territory.

LUXURY OK – In the great sweep also Moncler + 6.4%, + 4.3% and Finmeccanica Atlantia + 4.3%. Bel rebound Enel + 4.1%. Among the oil run Eni + 3.5% and + 4.3% Tenaris, not Saipem (-1%) weighted by the investigation of Milan on alleged bribes Algerian .