European markets open mixed, Piazza Affari +0.20% -

European markets open mixed, Piazza Affari +0.20% -

After the decidedly negative day for all the European stock exchanges on Monday 13 March - despite the reassurances that for the Old Continent there will be no risk of generalized contagion from the collapse of Silicon Valley Bank and two other American banks - there is waiting for the second day on the markets after the collapse of the Silicon Valley Bank. The US financial authorities had to intervene with ad hoc measures to avoid a possible contagion of the country's banking system. In Italy, the Ministry of the Economy is closely following the evolution of the situation. According to Filippo Alloatti, head of financials of Federated Hermes, there are no European banks listed on the Stock Exchange with a similar business model and therefore the risks for the Old Continent would be effectively limited. The turbulence triggered by the failure of the Silicon Valley Bank then prompts investors to question the fact that the ECB will raise interest rates by half a percentage point.

The markets

We come to the markets. Contrasted opening for the main European stock exchanges: just a few minutes after the start of trading, Piazza Affari gains 0.20% with the Ftse Mib at 26,236 points. Frankfurt (+0.22%) and Paris (+0.10%) are also in positive territory. Weak London, which scores -0.11%. On the Asian market, Tokyo lost 2.19% at the close with the Nikkei at 27,222 points (here the price list updated in real time).

The spread

Opening up for the BTp/Bund spread after yesterday's day was characterized by the flight of operators from the stock market in favor of the bond market to take shelter from exposures in banks after the bankruptcy of the American bank Svb. At the start of the session, the yield differential between the 10-year benchmark BTP (Isin IT0005518128) and the German equivalent maturity stood at 196 basis points from the 192 points of the previous day's benchmark. The decline in the yield of the ten-year benchmark BTP continues, marking 4.15% from 4.20% of the last reference (here the spread in real time).

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