Bags in the fall with the banks: MPS and Banco Popular at historic lows – Il Sole 24 Ore

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This article was published April 5, 2016 at 9:14.
the last change is the April 5, 2016 at 24:11.

down Start for European equity markets, which move reflecting the weakness shown by Tokyo and the new downward accused last night by the oil price. In the late morning the FTSE MIB in fact, a loss of 1.8% with sales mainly concentrated on banks. Down the other lists of the Old Continent (follow indexes live), with Frankfurt at -2%, and Tokyo, which previously ended down more than two percentage points. Rising the BTP-Bund spread at 117 basis points, with the yield of 1.26% ten-year Italian and especially the German title to the lowest level in a year under 10 cents. The euro is confirmed just below $ 1.14 (euro / dollar rate and currency converter). Crude WTI moves below $ 36 per barrel.

hinder PMI indices and German industry
If the background seem to be oil movements to remotely control those of Exchanges, today some more attention will likely be dedicated also to European macro notes. Not have come some good news from managers indices for purchases (SMEs, purchasing managers index) for the services sector, down to March and at European level (53.1), both in individual states with the exception of France: in Italy braking was at 51.2 points from 53.8; in Germany to 55.1 from 55.3. These are values ​​above the 50 mark that separates expansion still a contraction in activity, but it is not a good sign. Previously they have disappointed even orders to the German, in an unexpected drop of 1.2% per month in February.

Focus on ECB and BTp Italy
As always, then, need to listen carefully to the president of the Bundesbank, Jens Weidmann, the implications that his words will have on future decisions of the European central Bank. At the same event in Frankfurt, meanwhile, the general director of the International Monetary Fund, Christine Lagarde, said that the global economy is “in crisis” but that the recovery remains “too fragile” and “risks on the rise» . In Italy continues the placement of Italian BTP, the title was linked to inflation in our house who yesterday collected between private requests for 2.3 billion.

Still sales over the banks, the auto industry down with Peugeot
In Milan, Banco Popular has returned mid-morning from the auction of volatility down 6% still remodeling the historic low 5.01 euro while MPS, also briefly frozen, you got to lose 5% after correcting its lowest ever to 0.455 euro. Bad in general in Europe as well the auto industry, with Peugeot down sharply after the presentation of the business plan that shows an increase in investment spending resulting in pressure on margins.

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