MILANO – 2 pm Worsening session for European stock exchanges, in the wake of Wall Street which yesterday ended the session in decline and news of infections from Covid 19 growing in countries such as India and Brazil: not surprisingly, shares in the travel industry, while the yield on US government bonds falls.
Milano flat part then the Ftse Mib falls to -1.7%. Juventus slows down in the aftermath of the rally linked to the launch of the Superlega among the top European football clubs. Mediaset is sold after the decision of the Milan court which in fact gave Vivendi many reasons in the Berlusconi-Bolloré battle. The other European stock exchanges also accelerate downwards: Frankfurt 0.9% yields, London 1.15% e Paris 1.4 per cent.
The trading weakness started from last night’s close at Wall Street, where the indices recorded the worst daily change of almost a month: a pause after the records of the past few days. The New York indices ended the session in clearly negative territory: the Dow Jones left 0.35% on the ground at 34,082.44 points, the S&P 500 0.51% at 4,164.30 points. The Nasdaq is also bad (-0.98%) at 13,914.76 points. Among the individual stocks, negative mention for Tesla (-3.4%) who paid for a double fatal accident in Texas with his cars involved and doubts about the auto-driver function. Today, futures on the US stock exchange still indicate weakness.
Asian stock exchanges also move in no particular order, with Tokyo which closed down sharply (-1.97%) weighed down by concerns that the possible reintroduction of the Covid-19 emergency measures in the country’s largest cities will slow down the economic recovery. The Chinese stock exchanges, on the other hand, are more optimistic. In Hong Kong, Hang Seng rose by 0.04%, Shanghai by 0.39% and Shenzhen by 0.57%. The Sensex is up 0.60%.
The macroeconomic agenda of the day highlights the producer prices in Germany which rose by 3.7% over the year, beyond the estimates which foresaw a + 3.3% and against the previous + 1.9%. On a monthly basis, they increase by 0.9% (+ 0.7% previously). The figure is even better than expected (+ 0.6%).
It spread between BTP and Bund part stable at 102 basis points, with the yield of the Italian ten-year bond at 0.80%. The Treasury continues the placement of the Btp Futura, which yesterday – on the day of its debut – raised over 2 billion. In the first two hours of the day, it added orders for another 500 million.
Among the raw materials, prices of the Petroleum up on the Asian markets, close to a month high, on the back of a weak dollar and waiting for the drop in US stocks tomorrow. On the electronic circuits in Asia, Brent gains 1.04% at 67.75 dollars. WTI rises 0.98% to $ 64.
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