October 1, 2022

Wire Service Canada

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Black Friday in the markets, Europe burns 232 billion. Milan Heavy at -3.3% – Economy

The last session before the elections was very negative for the Milan Stock Exchangethe worst among the major stock markets in Europe, where all the lists fell: The Ftse Mib index closed down 3.3% to 21,066 points, At today’s lows. Among the headlines of Avary Square, Sudden slip by Tenaris (-8.3%) Also on double the bad oil Leonardo (-6%) with Eni and Intesa, both of which sold 4.7%. Try to keep Atlantia, up 0.3%.

Black Friday for European stock markets, overwhelmed by macroeconomic expectations, possible interventions by the European Central Bank and instability in oil prices: The Stoxx 600 Index, which includes the major stocks listed on the Old Continent, The final share sold 2.37%, equivalent to 232 billion euros From capitalization that was burned in one sitting. Piazza Afari alone, with a 3.22% drop in the Ftse All stock index, “lost” more than $19 billion.

The New York Stock Exchange is bad, too. The Dow lost more than 2% and posted a 500-point drop on Wall Street, its lowest since 2020.

The dollar gets strongerwhich traded at 1025 euros and 0.9 pounds, while Crude oil collapses (Wti -3.53% to $80.61 a barrel) on fears of a recession, as revealed by PMIs that are pulling back from estimates in France, Germany and the European Union. A similar analogy is also expected in the USA.

Gold prices are down 1.44%, with spot dropping to $1,648.6 an ounce at its lowest level since August 2020.

The spread between BTPs and German bonds closed the last session before the vote spiked: The differential is over At 230 pips vs. 220 pips starting todayThe treasury production rate was 4.32%. In a day of strong tensions on government bonds across Europe, the Italian bond yield rose by 16 basis points, but it was a special craving session for a product of the same maturity for Great Britain, in parallel with the slide in Italian bonds. The pound, which rose by 33 “basis points” to 3.82%.

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