Draghi sends the spread under 100 and the BTP 2 years below zero. Well Milan Stock Exchange (+ 2%) – Il Sole 24 Ore

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This article was published on Oct. 22, 2015 at 9:16.
The last change is the October 22, 2015 at 20:38.

After a morning guarded the stock took off in the early afternoon. A shake markets were the words of ECB governor Mario Draghi, who opened explicitly the hypothesis of an increase in the Q and in December and a further reduction of the deposit rate (currently set at -0.2%) . Milan stock gained 2% driven by banking stocks which benefited from the fall of the spread BTP-Bund under 100 points and the sharp fall of the euro has lost nearly two figures in one shot, going from 1,134 to 1,116.

Reflections also evident in the secondary market of government bonds of the Eurozone, with the BTP biennial that has slipped below zero for the first time. In sharp decline in yields also of all European government bonds, with the ten-year Italian they do score a rate 1.49 percent and the Bund returning to a step from the threshold of 0.5 percent.

Strong movements also on the interbank market with the estimates on Euribor for further decline: the index at 6 months was projected in the negative direction. The curve of the Eonia rate, notes Barclays, it was further reversed after the press conference Draghi and configures a 40% chance of a cut in deposit rates in December and 90% by June 2016.

On the list Milan there are also signs of rebound Fca after the slip of the vigil to coincide with the debut of Ferrari on Wall Street, which even today continues to rise and is traded at around $ 56. Countered BPM (-3.6%) and Carige (+ 4.3%), on assumptions of marriage, even if the Bank of Milan would have several ongoing contacts.

At the meeting of the ECB will follow next week the central banks of the US and Japan, and a four-day leadership of the Chinese Communist Party. Closing clearly positive for Asian stock exchanges of Shanghai and Shenzhen. The market is hoping for new measures to revive the Chinese economy ahead of a meeting of the Communist Party next week. Shanghai, who yesterday lost 3%, closed in advance of 1.45 percent. Even more accentuated gains Shenzhen closed up 3.71 percent. In contrast, however, the Hong Kong stock exchange that left on the ground 0.63%, the next day a feast day that has seen other major Asian markets recorded profit taking. Concerns also impacted on the health of the Chinese economy.

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