European stock exchanges in the red, banks are doing badly in Piazza Affari: down Bper, Intesa and Banco Bpm
Departure of week in red for the main ones European stock exchanges: Business Square loses 1% to 27,010 points, Frankfurt scores -0.18%, London -0,33% e Paris -0.63%. While on the Asian square, Tokyo closed at -1.11% with Nikkei at 27,832 points. To rock the markets again is the uncertainty triggered by Silicon Valley Bank crash despite the emergency measures taken in the United States to deal with it and to prevent the crisis from infecting the banking system.
At the end of a busy weekend marked by a chaotic search for a potential buyer for Silicon Valley Bank and since regulators shut down New York-based Signature Bank, the US government announced overnight that all depositors of SVB and also Signature would have access to all of their money as of this morning.
Also, the Federal Reserve announced the creation of a new credit line for US banks, designed to support them against the financial risks caused by the collapse of Svb. In other words, the central bank said it was “ready to deal with any liquidity pressures that could arise” in the banking system.
Bankers with always appear in difficulty on the Milanese list Unicredit a -1,90%, Understanding -1,91%, Bper -3,21%, bpm bank -2.86%. Among other financial generals a -1,33%, Mediolanum -1%. Tim it lost 0.86%, also negative for industrial (Stellantis -1.09%, Pirelli -1.24%) and energy with Eni and Enel respectively at -1.09 and -0.30 per cent.
Lo Spread between BTPs and Bunds ten-year opens little moved with the differential falling by one point to 179. Yield of the BTP down to 4.260%, in line with what happens with Treasuries for which the 2-year rate falls to 4.4% from the recent highs while the 10-year bond also yields, but much less, settling at 3.6%. L’euro it was up against both the dollar and the yen at the start of the day. There single currency it changed hands to 1.0724 against the dollar (+0.79%) while the exchange rate with the yen rose to 144.24 (+0.40%). The dollar/yen exchange it stands at 134.44 (-0.44%).
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