“unpredictable Uncertainty”: this is the feeling immediately bounced in from around the world bags after the outcome of the referendum on Brexit leading Britain out of the EU. Starting from Milan. Milan Stock Exchange at the opening fails to make money for the extreme volatility is suspended, then open slowly only because a few titles entered into bargaining, losing after a quarter of an hour more than 4%. Virtually all the major titles and were placed in the volatility auction: too many strong slumps in prices. The Ftse Mib index is then calculated only on a few titles such as Atlantia (-8%), Terna and Luxottica (-5%). The more analysts are now fears for holding of bank shares.
That the Milan Stock Exchange could not open was not successful even in September 2008, when Lehman Brothers went bankrupt. Rush the other European stock exchanges: Frankfurt opens at -9.94%, Paris down dell7%, London Agreement of 8%. They therefore confirmed previously stated predictions by futures.
Business Square is ready to use all instruments at its disposal, such as narrowing of the securities swinging fork, to contain the inevitable flow of sales that characterized the start of the market. According to Radiocor , in recent days, Consob asked the management company of the Italian stock market to take all countermeasures contained in the current operation of the market rules to try to limit the collapse of the Italian stock market.
The markets hope in the promised safety net by central banks : around 7 (Italian time) the governor of the central Bank of Japan, Haruhiko Kuroda, according to the Kyodo agency, assured that the Bank of Japan will work closely with other central banks to stabilize the Western markets, with a view ‘ opening.
The Bank of England announced that it had made “extensive contingency plans’ and to work closely with the Treasury, other authorities of the United Kingdom and foreign central banks, “the Bank of England is monitoring developments closely – said the British central bank in a statement – has undertaken extensive contingency plans and is working closely with HM Treasury, other domestic and foreign central banks authorities. The Bank of England will take all actions necessary to fully assume their responsibilities on monetary and financial stability. “
the spread between BTPs and Bund opened sharply higher than 157 basis points from 130.2 basis points of yesterday’s close. The yield is 1.39%. The Bund 10-year rate has fallen to -0.17%, a record low. The spread between Spanish Bonos and Bund has exceeded the threshold of 160 basis points to 163.7 points.
the first reaction to Brexit was seen heavily on Asian markets , hit by a wave of huge volatility after the initial results of exit polls had indicated a tendency to victory for ‘remain ». Just out of the first data of the ballots, the breakthrough was sudden. closed in deep red for the Tokyo Stock Exchange. The Nikkei index finished in fall of 7.92% is the worst day of March 2011, the collapse caused by the accident at the Fukushima nuclear power plant following the devastating earthquake.
the Stock Exchange of Hong Kong in mid-session, leaves on the ground more than 5% with the Hang Seng composite index . The large banking groups HSBC and Standard Chartered, overwhelmed by the wave of sales, lost more than 10% and 11% respectively. In Seoul, the KOSPI index collapses closing at -3.09%. In Hong Kong the Hang Seng index burns nearly 1,000 points with a thud of 4.67%. The Shanghai Stock Exchange -2.36%. Heavier Shenzhen, -3.11%. Declining even India: the Sensex index of the Mumbai Stock Exchange lost two hours after the start of trading on 3,81%, while the rupee depreciated to 68.11 against the dollar, losing 0.89%.
The currencies
strap the pound (losing more than 10% against the dollar) under 1.35, marking the lowest level since 1985, and in the sharpest drop ever. And the euro slipped below $ 1.10 to a maximum of more than 1.14, reaching its lowest level since last March.
Gold and oil
Meanwhile, the ‘gold is in the final sprint. Quotes of the safe haven rise by 4.9% to $ 1,318.78 an ounce. Instead the oil continues to sink, with the quotations in New York who lose 5.4%.
June 24, 2016 (edited June 24, 2016 | 09:27)
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