Bags, new sharp decline. The spread returns to 140

2020-10-28T10:35:16.010Z

Third day of market decline in Europe. The drops are abrupt: -3.3% for the Ftse Mib index in Milan, which brings the decline from the beginning of the week to 6.5%. In the rest of the continent the trend is similar. London -2.26%, Frankfurt -3.2%. In Paris, where President Macron will announce new restrictive measures this evening, the stock market index marks -3.3%. In the United States, the Dow Jones index fell by 0.8% yesterday, despite better than expected economic data, the Nasdaq of technology stocks rose slightly. In Asia, on the other hand, after a negative start, the Shanghai and Seoul indices changed direction, the Tokyo and Hong Kong indices remained negative by half a percentage point. Against this backdrop, the price of oil is falling despite a tropical storm in the Gulf of Mexico. Right now the North Sea Brent is trading at $ 40.30 a barrel, -3.3% compared to yesterday. Investors are very wary of risky investments like stocks. More stable assets such as German government bonds are strengthening. The bund has a yield of -0.64%, down 5 basis points. On the other hand, the performance of the Italian BTP rises, which in recent days had benefited from the promotion of the Standard & Poor's agency. The spread rose to 140 basis points, 8 more than yesterday, with the BTP yield at 1.76%. Almost all of the 40 stocks in the basket of the Ftse Mib are negative, more than half falls by more than 3%. Among the major drops Leonardo, -5.9%, Buzzi Unicem, -5.4%, Fca, - 5%, Pirelli, -4.8%. The only positive title was that of the diagnostic company Diasorin, + 0.79%. Atlantia in evidence. Last night Cassa Depositi e Prestiti presented the detailed proposal for the purchase of Autostrade per l'Italia. Today the board of Atlantia. The stock is now -1.9%, recovering from the initial decline.