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by Fabrizio Patti

06 October 2021It seems that the rebound of the stock markets is already over.

After the drop on Monday yesterday, the Ftse Mib index in Milan had risen by 1.95%, the best stock exchange in Europe.

Starting today -1.19 percent.



In the rest of the Continent, London -1%, Frankfurt and Paris -1.40%.



The main Asian markets were also negative.

The crisis in the real estate sector weighs in particular on Hong Kong (-0.65%).

After Evergrande, two other operators are also having financial difficulties: Fantasia Holdings and Sinic Holdings.



What worries the markets, however, is above all the price of energy. Oil has exceeded 83 dollars a barrel with Brent, to then return slightly below (82.84, + 0.13% compared to yesterday); the increase is $ 10 compared to a month ago. And yesterday's natural gas went up by 9 and a half percent in just one day; today another + 1.68%, +1.53 per cent since the beginning of the year.



Then there is the tug-of-war in the United States between Democrats and Republicans over the possibility of exceeding the debt ceiling, to finance the planned ambitions on the social and environmental front.

Treasury secretary Janet Yellen said failure to deal could lead to a recession.

In this context, the yield on the ten-year US government bond rises to 1.568%, 23 basis points more than a month ago.

An increase that makes equities less attractive by comparison and this helps to explain the decline in recent days.


In Piazza Affari, increases only for Saipem (+ 0.96%), Banco Bpm (+ 0.46%) and Unicredit (+ 0.03%);

higher discounts for Exor and Stellantis (-2.2% for both) and Atlantia (-2.5%).