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This article was published on February 24, 2016 at 9:11.
the last change is the February 24, 2016 at 17:41 hours.
a new indices in deep red, sunk by petroleum and those mining stocks. Crude continues in heavy decline after the halt to Iran’s proposal to limit the supply of oil and Saudi Arabia has ruled out a production of short-cut: the WTI due April was down 3.07% at 30 , $ 77 a barrel while Brent always due April yields 2.25% to $ 33.21 a barrel.
Wall Street goes even further down Europe
The Ftse Mib in Milan slipped by 2.59%, slipping further after negative start on Wall Street. Also hurt Paris (-2.2%), Frankfurt (-2.42%) and London (-1.5%). In Milan sales of Tenaris (-6.43%) and Saipem (-4.78%), and after closure has released since 2015. Male bank with MPS (-5%), still very volatile, and in Bper decrease of 4.9%. Down the luxury that still affected the profit warning from Hugo Boss (Yoox Net-a-Porter -4.5%, -4.2% Ferrari, Ferragamo -4.05%). In contrast only Exor, rising 0.8% after recent declines.
It again widen the spreads of peripheral
In voltage even as government bonds with the BTP-Bund spread widens to 142 basis points and the Bonos-Bund 150 points. On foreign exchange markets, euro down to $ 1.0963 (from 1.1022 yesterday closing) and 122.56 yen (from 123.59). The Japanese currency was trading at 111.78 against the greenback (from 112.13). The pound changed hands for $ 1.3888 (1.4098) and 0.7893 euro (from 0.7818). (Euro / dollar rate and currency converter).
Sterling the minimum seven years
The pound falls below $ 1.39, its lowest level in seven years in the wake of fears that a vote in favor would Brexit undermine the prospects for British growth. But the situation may even worsen with the analysts of HSBC which provide for a possible further decline of up to 20% on the greenback sliding the pound to $ 1.10. For the bank’s analysts a depreciation of the currency between 15-20% would drive up the costs of imports triggering inflation also surged by 5 percentage points, forcing the Bank of England to raise interest rates. These developments, warn, impatterebbero sull’economica burning 1-1.5 percentage points of GDP in 2017.
Crude-indices: an unbreakable bond
It ‘ more oil, for better or for worse, to address the equity markets in recent weeks. The fact that OPEC appears for the moment powerless in governing the offer made again turn back the oil prices: WTI drops below $ 31 a barrel and Brent stood at just above 33. The movement has accentuated yesterday afternoon when the Iranian oil minister has called “ridiculous” the proposal brought forward by Russia, Saudi, Venezuela and Qatar to freeze the production on January levels: Iran, just released by the embargo, has in fact, every incentive to do the “full” to recover the lost ground. For its part, the Saudi Minister Al -Naimi stated that there will be no production cuts because there is no guarantee that countries will operate them, even if they promise them. His country, he added, can live with an oil price of up to $ 20 a barrel.
The Treasury assigns BTP indexed to 904 million
on the macroeconomic front, meanwhile, the French consumer confidence fell surprisingly to 95 points from 97 in January. In Italy, the industry revenue grew by 1% in 2015 (the best since 2011), while orders rose by 5.2% (even better from here since 2011). The Italian Treasury has instead assigned BTP indexed to European inflation maturing in 2032 for a total of 904 million with a yield of 1.22 percent. The United States has fallen short of expectations, the index of directors of the services sector purchases, fell in February to 49.8 points from 53.7 the previous year and bad news also came from sales of new housing (-9.2% in January) of new housing.
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