Bags, Europe worsens with Wall Street: Milan closes at -3% – Il Sole 24 Ore

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This article was published on 2 February 2016 at 17:40.
The last change is the February 2, 2016 at 22:16.

Even a day of declines on the main European leaking all over one percentage point Piazza Affari with black mesh which closed at -3% (here the trend of the indexes). And downturns also affect Wall Street with the major indexes all negative (here the day chart of the S & amp; P500). Closing in negative territory for Wall Street. The Dow Jones loses 1.79% to 16,154.84 points, the Nasdaq yields 2.24% to 4,516.95 points while the S & amp; P 500 leaves on the ground 1.87% to 1,903.06 points. Also weighing on the stock market is once again the poor performance of the oil that has now closed down for the second day in a row leaving behind 5.5%.

The squares continental suffer again by declines in oil prices (here the prices of Brent and WTI). The oil sector (here the graph of the Stoxx sector) must also deal with the bad results of the British giant BP that closed the fourth quarter with a profit decline of 91% to 196 million dollars against the milardi 2.24 in the same period last year.

From the 2015 budget presented by the British giant it revealed a net loss of no less than 6.48 billion dollars. That the budget is closed in red she was already reckoned but certainly few would have expected that the gap would be almost twice that estimated by the consensus of analysts. If anyone thought it was unlikely that the company was able to close a budget worse than that of 2010, the year of the disaster of the Deepwater Horizon rig in the Gulf of Mexico where BP lost 3 billion and 700 million dollars, had to think again. And the market has started to think carefully about the impact of a prolonged period of low oil prices are likely to have on the accounts of the sector and the markets in general.

Crude remains above the psychological threshold of $ 30 per barrel, but has already absorbed much of the rally last weekend when rumors about an agreement within OPEC for a production cut aimed at stemming the collapse prices had resulted in a recovery.

In addition to oil and mining companies, there are still sharp falls for the titles of credit (here the graph Stoxx banking) in the aftermath of the statements by Mario Draghi on the need not to move backwards on ‘ application of the directive on bank resolutions. A cold shower for Italian banks and for the same Bank of Italy Governor Ignazio Visco and her that, by convention Assiom Forex Turin, had called for a revision of the legislation on the bail-in.

This is also why the Milan Stock are back to bite sales on securities from banks with a new session difficult for Banca MPS. Recovery in the bond Luxottica Group aftermath of the slip caused by the announcement of the reshuffle at the top. Also hurt Saipem and rights on the capital increase to be negotiated until Friday. Discounts also on Eni.

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