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Black Thursday for the stock exchanges, Europe burns 163 billion. Milan black jersey

2022-09-29T16:30:17.767Z

Milan at its lowest since November 2020. The spread closes up by 6 points at 246 (ANSA) In Europe, the stock exchanges closed sharply lower , frightened by geopolitical tensions and worried about a new possible rate hike. London lost 1.77%, Frankfurt 1.7% both at last year's lows, Paris 1.53%, Madrid 1.9%, Zurich closed at -0.92% to 10,126 points. The black jersey belongs to Milan with a drop of 2.4% to 20,352 points, the lowest since November 2020. European stock exchanges burned 1



In Europe, the stock exchanges closed sharply lower

, frightened by geopolitical tensions and worried about a new possible rate hike.

London lost 1.77%, Frankfurt 1.7% both at last year's lows, Paris 1.53%, Madrid 1.9%, Zurich closed at -0.92% to 10,126 points.

The black jersey belongs to Milan with a drop of 2.4% to 20,352 points, the lowest since November 2020.

European stock exchanges burned 163.5 billion euros in capitalization, with the pan-European Stoxx 600 index ending the session down 1.67%, to 382 points, its lowest since November 2020

A session to forget for Piazza Affari, which slipped to a minimum in 22 months together with the other stock exchanges of the old continent

unable to react in the face of a particularly gloomy macro and geopolitical scenario.

The Ftse Mib lost 2.4% to 20,352 points, with sales concentrated on

Stm

(-5.4%), Stellantis (-4.8%),

Prysmian

(-4.6%),

Pirelli

(-4.4%),

Nexi

(-4%) and

Tim

(-3.7%), facing the growing risk of recession.

The banks with Bper (-2.8%), Unicredit (-2.7%), Intesa (-2.6%) were also bad, while Mps collapsed (-13.5%) on fears of a difficult recapitalization.

Only Leonardo (+ 1%), which holds in the context of geopolitical tension, and Eni (+ 0.15%), in a positive session for oil, are saved from the sales.

The BTP-Bund spread closes the session up by 6 basis points, at 246, with the Italian ten-year yield rising by 13 points to 4.63%, achieving the worst performance in a context of generalized sales on government bonds of the Old Continent.

All bonds remain under pressure from inflationary pressures, confirmed by the September price rush in Germany (+10), and by the feared response from the ECB, where the 'hawks' are pushing for a new rise of 75 basis points in October.

Source: ansa

All life articles on 2022-09-29

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