Another sat shivering for European markets, which worsened in the afternoon due to the heavy opening of Wall Street and of course the prospect of Brexit In the evening came the downgrade by S & amp; P to the rating of the Britain, which has lost the prestigious triple A. Milan is the black mesh of the Old Continent, down 3.94% dragged down by the banking sector. Business Plaza, year to date, sold 30% and today closed on its lowest level in three years. The rumors about a possible plan of the Italian Government to support the credit system have not stopped the sales. Or rather, between gusts of suspensions, Italian banks have closed in strong downward certain time lows as MPS (-13.3%) and Unicredit (-8%). Also sales of Mediobanca (-12.7%) and Intesa Sanpaolo (-11%) while Yoox Net-A-Porter Group (-9.6%) pays the exposure of the business on the UK. Resist defensive stocks as Recordati (+ 0.9%) and Terna (+ 0.1%) in the wake with the respective European sectors. Outside the main index, RCS (+ 5%) is immediately adjusted to the takeover bid for remodeling consortium of InvestIndustrial. The BTP-Bund spread remained stable at around 163 basis points while crude oil in New York retreats of 2.5% to $ 46.5 per barrel. On the currency front, the euro traded at $ 1.097 (1.1112 Friday). The pound / dollar exchange rate amounted to 1.317 from 1.3732 on Friday evening, again the lowest for 31 years. Gold finally rises again and stood at $ 1,322 an ounce.
Wall Street closed sharply down, with the Dow Jones lost 1.50% to 17,140.24 points (its lowest level since meta ‘March) and the Nasdaq 2.41% to 4594.44 points.
also hurt the index S & amp; P500 which yields 1.81% to 2000.56 points
.
The government prepares a plan on the banks dossier
In Europe, in addition to the financial securities sector, a major setback for airlines in particular British penalized by the sharp depreciation of the pound against the dollar as well as from ‘ on industry standards
uncertainty with the release of the UK from the European Union: falls by more than 20% Easyjet has lowered expectations for the second half because of these uncertainties.
the ax S & amp; P on UK
Standard & amp; Poor’s cut its rating of Britain to AA from AAA, with a negative outlook. The American agency’s decision comes after the decision of the country to leave Europe with the vote in favor of Brexit in Thursday ‘last referendum. “In our view, this result is ‘a crucial event, which will bring’ a regulatory framework less predictable, less stable and effective”, it said in a note published by S & amp; P which also reported the possible votes of Scotland and Northern Ireland to leave Britain as an additional factor of instability.
even Fitch lowers rating Gb
Downgrade to the UK even by Fitch, which lowers the London rating from AA + to AA. The Fitch decision comes a few hours after that of
Standard & amp; Poor’s to remove Britain triple A. Fitch To vote in Gb “will lead to a policy framework less predictable, stable and effective.”
the Madrid Stock Exchange defends itself: political stalemate after voting
it is defended better than the others the Madrid stock exchange, which after opening of ‘ Ibex 35 to + 3% then closed at -1.5% after the outcome of the Spanish general election that, if on one hand have not been able to indicate a formation able to have a majority in Parliament and have shown a recovery of consents for the Popular Party of Mariano Rajoy, defender of stability, the other saw the braking forces of the most critical towards the EU as Unidos Podemos.
Today, the directory Merkel, Hollande, Renzi. Tomorrow EU Council
In today’s day, eyes focused on the meeting of the “directorate” Europe that will see at the table Angela Merkel, Francois Hollande, Matteo Renzi, and Donald Tusk, and that will address first the theme Brexit preparing the 27 EU countries in Brussels summit scheduled for tomorrow in Brussels. Will enter the live also the work of the European Central Bank Forum Sintra in Portugal that will culminate Wednesday with speeches by Mario Draghi, ECB president, and number one of the Federal Reserve Janet Yellen. Some rumors emerged over the weekend indicated that the governor of the Bank of England, Mark Carney, could not take part in the Wednesday afternoon panel where it was expected.
Tokyo, evidence of recovery in the Nikkei (+ 2.4%) after the thud of Brexit
Broker negatives on Italian banks. Yoox down the Ftse Mib
Returning to Milan stock purchases reward defensive, particularly utilities such as Terna, Snam and Enel, Eni resists even declines. Recordati is positive in the wake of the European pharmaceutical sector. Back pressure on the bank starting with Unicredit and Intesa Sanpaolo. Male Ubi Bank who presented the new business plan to 2020. Many investment banks, such as Barclays and Citi have worsened its outlook on Italian banks, particularly on Unicredit. Fiat Chrysler also down sharply after Goldman Sachs removed the stock from its list of favorites: recently a spokesman of the group had ruled out direct impact in financial terms for the automaker arising from Brexit. However, it remains Yoox the heaviest title of the Milan Stock Exchange due to the exposure of revenues by about 16%, in the UK market.
From Milan -30% YTD, London “only” 4%
Milano black shirt, with a fall of nearly 30%, and London unexpectedly contains passive to -4%. And ‘that’s the outcome of the main European stock markets year to date after the new chair of heavy markdowns related to the referendum that sanctioned the Brexit. Business Plaza, which pays the high exposure of the banking sector, then, is the worst: from January the Ftse Mib left on the ground the 29,48%, significantly worse than other “peripheral” list as Madrid (-19.8% ). In Paris, year to date, the CAC 40 has however lost 14% while Frankfurt lost 13.7%. Then the London surprise star of Brexit, which, however, has limited liability to -4%. As for individual stocks, in Milan stand collapses in the banking sector: from January 1 Unicredit burned 62.6% of its capitalization, Intesa Sanpaolo has exactly halved in value (-50%) while MPS has given 68 % and Banco Popolare 82%. Ubi, who today presented its new business plan to 2019/2020 has lost 60%, while two other big the Milan stock exchange as Generali and Fca left on the parterre, respectively 40% and 37%.
(Il Sole 24 Ore Thomson Plus)
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