In Europe, stock exchanges closed significantly lower, afraid of geopolitical tensions and worried about the possibility of a new interest rate hike. London lost 1.77%, Frankfurt 1.7% at last year’s lows, Paris 1.53%, Madrid 1.9%, and Zurich at -0.92% at 10,126 points. Milan’s black jersey belongs to a decline of 2.4% to 20,352 points, the lowest level since November 2020.
European stock exchanges burned 163.5 billion euros in terms of capitalization, as the European Stoxx 600 Index ended the session 1.67% lower, to 382 points, the lowest level since November 2020.
A session to forget about Piazza Avari, which has fallen to a minimum in 22 months with other exchanges on the old continent Unable to respond in the face of a particularly bleak macro and geopolitical scenario. Ftse Mib lost 2.4 percent to 20,352 points, focusing on sales Stm (-5.4%) Stylantis (-4.8%) prismian (-4.6%), Pirelli (-4.4%), Nixie (-4%) e Tim (-3.7%), with the risk of a recession growing. Banks with Bper (-2.8%), Unicredit (-2.7%), Intesa (-2.6%) also did poorly, while Mps (-13.5%) collapsed due to concerns that recapitalization would be difficult.
Only Leonardo (+1%), which holds in the context of geopolitical tension, and Eni (+0.15%), in a positive oil session, are saved from sales.
The BTP-Bund spread closes the session up 6 basis points, to 246, with the Italian 10-year yield up 13 points to 4.63%, the worst performer in the context of generalized sales of government bonds on the old continent. All bonds remain under inflationary pressures, which was confirmed by the September price rush in Germany (+10), and the fearsome response from the European Central Bank, as it pushes the “hawks” towards a new high of 75 basis points in October.
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