Stock exchanges today 17 May | Europe down after the stalemate on US debt – Corriere.it
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The European stock exchanges are starting down, with investors above all worried about the risk of a US financial default, after the stalemate on raising the debt ceiling. US President Joe Biden said he was optimistic about reaching a deal to avoid a potentially catastrophic debt default after holding talks with Republican leaders. Without a debt ceiling hike, the US could default on June 1, unleashing an unprecedented economic and financial storm, US Treasury Secretary Janet Yellen has warned. Financial titles weigh heavily on Milan. During the day, eyes were also focused on the macro data, which yesterday confirmed the impact of the monetary policy tightening on the global economy.
European stock exchanges and spreads
Declining opening for all the main European price lists Paris marks a -0.37% with the Cac 40 at 7,378 points. London records a -0.32% with the FTSE 100 at 7,726 points. Frankfurt at -0.09% with the Dax at 15,883 points (here the trend of the price lists in real time). The spread between 10-year BTPs and their equivalent German Bunds opens stable at 187 points, on yesterday’s closing levels (here the spread data in real time). The 10-year yield stands at 4.204%. The euro opens slightly above 1.08 dollars at 1.0859 dollars (-0.02%) and rises slightly against the yen to 148.52 (+0.23%). The dollar advanced against the Japanese currency at 136.76 (+0.27%).
Business Square
The Milan Stock Exchange confirms the downward start and worsens further with the Ftse Mib which drops 0.95% and even ends up below 27 thousand points. Financial companies are under pressure with Banca Generali losing 2%. Banco Bpm (-2.2%) and Mps (-2.21%) are also bad. On the other hand, Interpump is booming (+2.7%) still in the wake of the accounts. Among the stocks under scrutiny, Tim earns more than 1% while Cdp does not withdraw the offer for the network. Little moves Leonardo and Poste (-0.04%).
Currencies, oil and gas
The euro opens slightly above 1.08 dollars at 1.0859 dollars (-0.02%) and rises slightly against the yen to 148.52 (+0.23%). The dollar advanced against the Japanese currency at 136.76 (+0.27%). The price of oil continues to lose ground, penalized by doubts about the Chinese economic recovery after lower-than-estimated industrial production data published the day before: July Brent dropped 0.55% to 74.50 dollars a barrel and June Wti 0.68% to $70.38. While natural gas on the TTF platform in Amsterdam is on the previous day’s levels at 31.8 euros per megawatt hour.
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