Bags, new thud: Milan -3%. Sink even Tokyo and China – The Messenger

Bags still deep in the red after the slip on Thursday. Milan also backs heavily weighted by fears about China. Collapse lists of Shenzhen and Shanghai -4.2% -5.4%. Investors around the world Temenus that a slowdown in China may curb global economic growth. The FTSE MIB index closed with a decline in close to 3%. Among the European markets, Frankfurt, London and Paris give more than 2 percent. The spread worsens, reaching 128 basis points, an increase of 4 basis points compared to the previous value.

The development of the Chinese manufacturing sector, fell to its lowest in six years, and the heavy opening of Wall Street (in wake the new collapse of crude, with WTI crude oil close to $ 40) then sent back into the red for the European markets.

Milan closing, gives 2.83 %. A Business Plaza, returned to the levels of early July, only saved by declines Saipem (+ 0.5%, with investors focused on resuming dialogue with Gazprom) and Yoox (unchanged). Instead down the entire banking with BPER, BPM and Banco Popolare in red by more than 4%. CNH (-4.4%) was affected by the cutting of the estimates of the American competitor Deere. On the rest of the list yet realized on Saras (-4.6%); Salini Impregilo also down (-3.6%).

Japan The fears about the economy and the financial turmoil in China also weighed on the Tokyo Stock Exchange ending the session with a splash of 2.98%, the Nikkei index yields 597.69 points and slipped to below 20,000 for the first time since mid-July, to a height of 19,435.83.

China The Shanghai Composite Index closed down 4.27% to reach the minimum of forty days, in the wake of the alarming data on the index of China manufacturing PMI, fell to a minimum of six and a half years. According to rumors in the press, the Chinese authorities would intervene in the final minutes of trading for groped to limit the fall of the price lists, which continue to reflect concerns about a sharp slowdown in the second economy in the world.

Meanwhile, the yuan , back from two weeks coaster in the slipstream of the three write-down from the bank cnetrlae Beijing and a subsequent upward adjustment, continues to lose ground against the dollar now trading at 6.3904 despite the Central Bank has indicated a fixing of 6.3864 . These days the monetary authorities of the Dragon are trying to run for cover through massive injections of liquidity into the system.