Stock markets, UBS also down (-13%). Positive energy stocks
Declining opening for the main ones European stock exchanges: the acquisition of Swiss credit from Ubswith the support of Swiss central bankannounced yesterday, does not seem to reassure the markets, which are looking at the Federal Reserve’s next moves.
In the first exchanges a Frankfurt the Dax dropped 0.34% to 14,718.25 points, a London the FTSE 100 drops by 0.97% to 7,264.40 points, at Paris the Cac 40 is flat at +0.02% and 6,926.62 points ea Madrid the Ibex-35 dropped by 0.46% to 8,679.23 points. TO Business Square Ftse Mib was down -0.88% at 25,269.67 points.
Bank stocks are in trouble, with Bpm -4.1%, Bper -4.8%, Intesa -2.6%, Unicredit -3.8%. Other financial companies are also down with Azimut -2.4%, Mediolanum -2.8%, Poste -3%. The energy stocks hold, with increases for Terna (+1.3%), Snam on +0.2%, such as Italgas, A2A +1.4%. Reductions for the rest of the price list with Stellantis -2%, Tim -3.3%.
Credit Suisse: stock falls 63.70%; USB drops by 8.77%
Shares of Swiss banking giant UBS fell 8.77% in early trading today, to 15.61 Swiss francs, after Swiss authorities pressured the firm to take over Swiss credit and avoid its collapse.
The actions of Swiss credit collapsed below the offer price of Ubsfalling 63.70% to 0.6752 Swiss francs after UBS yesterday agreed to pay 3 billion francs for the bank, or 0.76 francs.
Sharply rising spread
The spread between ten-year BTPs ed German Bund counterparts opens sharply higher above 200 points, against 194 at Friday’s closing. The differential is driven by bailout concerns Swiss credit. Il yield on Italian ten-year bonds instead it drops below 4%, to 3.98%. Even the rate of Bund it decreases by 13 basis points and returns below 2%, to 1.97%.
Euro little moved in the opening of the markets. The single currency changes hands at 1.06655 dollars with a change of -0.01%. The euro/yen drops to 139.78 (-0.63) and the dollar/yen stands at 131.06.
Asian bags in red. Hong Kong at -3.19%
The Shanghai Stock Exchange closed with a loss of 0.48% to finish at 3,234.91 points. The Shenzhen index it lost 0.27% to end the session at 11,247.13 points. The reference index Hang Seng Hong Kong is currently down 3.19% on investor fears about the banking sector; HSBC collapses by 7.06%.
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