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by Marzio Quaglino
Milan 16 August 2021 The victory of the Taliban in Afghanistan and the bad data from the Chinese economy have weakened European markets, returning from the highs of last week.
Milan closed down by 0.76%.
Frankfurt limited the damage with -0.32%, while London, the worst, lost 0.90%.
No help came from Wall Street which opened in decline.
On the Piazza Affari list, the drop in oil caused Tenaris and Saipem to close down sharply by more than 2 percentage points.
It is always the Chinese data that bring the price of oil down.
Brent from the North Sea also dropped to 68 dollars a barrel, and then closed on European markets close to 70 dollars.
Among the currencies, the decline of the Euro against the Dollar resumed with the exchange rate at 1.1777.