Dramatic losses in Milan
(Teleborsa) - A dramatic session at the Borsa Italiana, which shows heavy losses. The other European bourses are sharply down.EUR / USD holds its position at 1.094. Gold is essentially stable at 2,442 dollars per ounce. Light Sweet Crude Oil plunges to 73.02 dollars per barrel amid heavy sell-offs, losing -0.68%.
The Spread jumps to +152 basis points, an increase of 3 BPs, with the Italy BTP 10Y yield at +3.62%.
Among the major European bourses, Frankfurt nosedives by -2.82%, investors flee as London is down by a massive -2.46%, and Paris dives -2.9%.
Investors rush to sell in Milan as the stock exchange takes a plunge of -3.91%, continuing its run after four consecutive falls, which began last Wednesday; similarly, the FTSE Italia All-Share is firmly in the red as it retreats -3.86% to trade at 32,833 points.
The FTSE Italia Mid Cap is in the doldrums (-3.3%), as the FTSE Italia Star plummets (-3.06%).
All of Milan's blue chips take a plunge, or at least lose ground.
MPS Bank reports the heaviest losses, currently suffering from a -5.80% down.
Stmicroelectronics collapses (-5.8%).
Saipem reels under sharp sell-offs as it declines -5.5%.
Nexi plunges -5.4% on intense selling.
It is a thoroughly negative session for all FTSE Italia Mid Cap stocks.
Tinexta reports the heaviest losses, currently suffering from a -8.31% down.
An ugly performance for Marr, which registers a -5.05% loss.
A black day for Technogym, which sheds -4.67%.
Technoprobe is in free fall, diving -4.61%.
Among the macroeconomic rendez-vous that might have high influence on the markets:
Monday, 8/5/2024
3:45 AM China: Caixin services PMI (expected 51.4 points; prev. 51.2 points)
10:00 AM European Union: services PMI (expected 51.9 points; prev. 52.8 points)
10:00 AM European Union: composite PMI (expected 50.1 points; prev. 50.9 points)
11:00 AM European Union: producer price index, monthly (prev. -0.2%)
11:00 AM European Union: producer price index, yearly (expected -3.3%; prev. -4.2%)
3:45 PM USA: services PMI (expected 56 points; prev. 55.3 points)
3:45 PM USA: composite PMI (expected 55 points; prev. 54.8 points).
(Teleborsa) 08-05-2024 09:30 AM