European markets close the week down, banks still weigh

European markets close the week down banks still weigh

(Tiper Stock Exchange) – Yet another negative day for the European stock exchanges, with Piazza Affari confirming itself among the worst, on the persistent tensions in the banking world. In fact, the interventions of the US and Swiss authorities have not restored calm to the markets, which appear to be volatile and ready to react to any negative news. In the Old Continent, the focus remains on the difficulties of Credit Suissewith the bank in crisis and the competitor UBS extension which appear opposed to a forced merger, even if the Swiss authorities continue to work to find a solution in this sense.

The banking crises of svb and Credit Suisse have recalled 2008 even though the current scenario is totally different and the banking sector is much stronger. “The interest rate hike has created a more favorable operating environment for banks than it has been for many years,” notes Mark Dowding, CIO of BlueBay. “Furthermore, counterparty risk has been mitigated by centralized clearing of derivatives and therefore the weakness of one institution should not threaten another. the truth is that at the foundation of the banking sector, trust is everything. If trust is compromised, it’s hard to restore.”

Seat up slightly for theEuro / US Dollar, which advances to 1.067. Strong upside forgold, which marks a gain of 2.14%. Day to forget for the petrolium (Light Sweet Crude Oil), which trades at 66.61 dollars per barrel, down 2.54%.

Slight worsening of spreadswhich rises to +185 basis points, an increase of 2 basis points, with the yield of the 10-year BTP equal to 3.93%.

Among the markets of the Old Continent slips Frankfurtwith a clear disadvantage of 1.33%, in the red Londonwhich shows a decisive drop of 1.01%, and the negative performance of Pariswhich drops by 1.43%.

Rain of sales on Milanese price listwhich ends with a heavy drop of 1.64%, while, on the contrary, a day of gains for the FTSE Italia All-Share, ending the day at 28,066 points. In sharp decline FTSE Italia Mid Cap (-1.86%); with similar direction, negative the FTSE Italy Star (-1.36%).

From the closing data of Borsa Italiana, it appears that the exchange value in today’s session it was equal to 3.33 billion euros, down by 21.86%, compared to 4.26 billion on the previous day; while the volumes traded went from 1.01 billion shares in the previous session to today’s 0.82 billion.

Unique Blue Chip of Milan to obtain a good result Saipemwhich marks an increase of 1.69%.

The strongest sales, however, fell on Ivecowhich finished trading at -4.33%.

Sensitive losses for Telecom Italydown 4.07%.

Breathless Phinecuswhich decreases by 4.06%.

Unicredit drops by 3.59%.

At the top of the mid-cap rankings from Milan, Webuild (+7.40%), Saras (+3.67%), Salcef Group (+1.91%) and Ariston Holding (+1.40%).

The strongest declines, however, occurred on El.Enwhich closed the session at -8.76%.

Thump of GV extensionwhich shows a fall of 5.22%.

Letter about MARRwhich records a significant drop of 4.72%.

Goes down CIRwith a drop of 4.57%.