New slide of the market in after Brexit, with Europe losing a new 4.1% and sends smoke into other 282 billion of capitalization and Milan euro slipping 3, 94% to new lows for three years. They suffer especially British banks, still on fears of output effects by the EU. But the end is even forget for all Italians institutions, with double-digit losses and in a session of choppy suspension between the main groups of the Milan stock exchange.
The markets are waiting for indications from banks central on possible measures to limit volatility and supporting the eurozone economy. Mario Draghi was to meet Wednesday Fed Chairman, Janet Yellen, the forum ECB in Sintra in Portugal, but the number one of the US Central Bank has canceled its participation, as reported by the Fed. Draghi meanwhile will travel to Brussels to attend tomorrow and the day after at the EU summit after Britain’s exit from the Union. Just in the evening came the cold shower to London with Standard & amp; Poor’s that has torn the triple ‘A’, cutting the UK’s credit rating by two notches to AA for the risk “of a marked worsening of the conditions of
financing.”
Returning to equities of the Old continent, in London Royal Bank of Scotland at the end gives 17.3%, 10.3% Lloyd, Barclays losing 17.3, while in the travel sector EasyJet sank 22.3%. In Milan MPS goes down by 13.3%, 12.8%, Mediobanca, Intesa Sanpaolo 10.9%, while Unicredit lost 8%. The drops then hit Ubi (-6.3%), the day of the presentation of the new plan, BPM (-7.2%), Banco (-6.2%), but also Azimut (-11.8%) Unipol (-10.2%) and Generali (-8.5%).
Some signal of the difficulty of putting a rebound had already seen in the early morning, in spite of the bounces in Asia Bags (+ 2.39% Tokyo). In Beijing, the yuan has in fact led to the lowest level in five years and a half on the dollar (with a parity set at 6.6375 and down 0.2% from Friday). In Europe, then, after the historic crash of Friday, the pound started again beaten, before rebounding later in the day new lows for 30 years on the greenback, and a decline of 3.6% at the end of the day at $ 1.321 . The pound has subsequently fallen by 3.3% on the European currency to € 1,199.
The hands of the ECB appear to guarantee more stability instead to BTP, with the stable yet spread to 162 points.
All ‘start-up of the European equity markets attempt rebound however there was, especially in Madrid that made terms with the outcome of Sunday’s general election in Spain. In just over an hour the weather had already deteriorated.
For the first time in the history of the British ten-year gilt yield has fallen below 1%. And in mid-session, the weakness of British banks has become a thud. All the main lists were traveling already in steep decline and tight around even the pound is divided downward.
In the afternoon, they left in sharp descent also indexes on Wall Street and the Old Continent there was nothing more to do. After a day of trading volumes are twice results and half the daily average of the last month, while the British securities were equal to three times. It ended down 1.8% even Madrid, despite having gained as much as 3.4% at the start after the elections the popolar grew remaining the largest party, albeit without a majority to govern alone. Yields on Spanish Bonos (1.447%) for the first time since last July have gone under the Italians (1,503%)
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