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This article was published on Dec. 21, 2015 at 19:10.
The last change is the December 21, 2015 at 19:19.
Slip on the Madrid stock exchange after the election results, which makes uncertain the formation of the Government The index Ibex 35 sold 3.62% to 9,365 points. In a quiet day for the other European markets – except in the final – the list Spanish bad especially the banking sector with the tension on government bonds (Caixa goes down by 7.4%, 4.7% BBVA, Santander’s 4.8%, Sabadell marks -4%) and also the groups of Energy (-6% Repsol, Endesa -5.3%) on weak oil prices.
The results of the elections , according to the rating agency Fitch, increase the risk of a prolonged period of political uncertainty and potentially a lower fiscal discipline and / or a change of direction in terms of structural reforms. The report notes as to form the new government will serve a coalition of at least three parties, and this will make it difficult political alliance stable and cohesive.
The new compensation oil, meanwhile, has weakened efforts to relaunch the European markets, which have been shown to have lost the compass in this end of year. Closing decided in red, then, for the first weekly session. After a morning at times lively on the price lists, sales on energy, triggered by -1% of WTI at $ 35.6 per barrel and Brent down 1.5% to $ 36.2, and the loss of strength on Wall Street have exhausted the gains. Frankfurt, long the best sold its 1%, Paris slipped 1.3. Milan stock has limited the damage to a -0.67% in the FTSE MIB virtue of purchasing the bank.
The session on Wall Street (hence the S & amp; P 500) opened in upward but then even the American Stock Exchange has canceled almost all the gains to resume share slightly. While continuing to digest the historic decision taken by the Federal Reserve on Wednesday, when it raised rates for the first time since June 2006, investors are preparing for a short week but not without macroeconomic cues. This means that the lists will react to incoming data with greater sensitivity ‘given that the volumes will be thin. On Thursday, the US stock market will close three hours in advance and will be closed Friday for Christmas. The catalyst continues to be oil, with Brent crude fell to its lowest in July 2014 and WTI at the low of February 2009.
Spread Spanish rising
C ‘ was also tension on the spread Spanish, grown to 133 basis points in the yield has jumped from 1.70% at the opening on Friday to 1.90 percent. Lower the impact on bonds of other peripheral countries: the differential between German Bunds and Italian ten-year bonds stood at 108 basis points from 104 the previous Friday but then fell.
Focus Square Business
In Milan the title runs RCS Mediagroup which opened above the threshold of 0.50 EUR just been disseminated the guidelines in the new business plan developed by CEO Laura Cioli and which already in 2016 net profit and cash flow in positive territory.
Italian Post falls on the day of the debut in the index FTSE MIB instead of Ansaldo Sts. Enel withdraws after signing the contract with Ep Slovakia to cede 66% of Enel Production in Slovenske Elektrarne for 750 million euro. Eni rise, the bank and Fiat Chrysler.
Changes and oil
On the exchange rate front, the euro back above 1 share, $ 09 (Friday 1,084). Oil (wti maturing in February) share $ 35.6 per barrel, down more than a dollar. The barrel of Brent, the benchmark crude from the North Sea came to mark new multi-year lows, to $ 36 in morning trading, recorded a value not seen since July 2004. Pushups who continue to suffer from excess supply that for many months involving markets, combined with the general purpose of the “Supercycle” of raw materials, tied hand in glove with the weakening of emerging economies, and which in recent sessions has added the stronger dollar triggered by the rise in interest rates by the Federal Reserve.
The fall might continue and much, to heed the bearish predictions that have multiplied in recent weeks, especially after OPEC, the cartel of oil exporters has again shown divisions and a lack of will to give close to the offer to lock the declines. For example, according to Goldman Sachs is possible that the barrel end at $ 20 in the year that is about to open.
Maxi cut for Toshiba, Tokyo down
The Tokyo Stock Exchange closed down again today because of the recovery of the yen and weighed down by announcements from Toshiba that provides a record loss and will cut 6,800 jobs. The Nikkei index, which had already lost 1.90% Friday, sold 0.37% (-70.78 points) to 18,916.02 points.
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