Collapse on Wall Street crisis Greece

May 2006

Posted by ReD as News

Il Sole 24 Ore Radiocor - Wall Street goes to the final peak, with
Dow Jones slips below 10 thousand points yielding as much as 9% before
recover after a -6.2%. Weigh the crisis in Greece and the fear
that the aid package will not be enough to solve long-
term, ie the same elements that have undermined the squares
Europe. A Wall Street are not sufficient to support the news
Coming from the macroeconomic front: the initial requests for grants
Unemployment fell for the third week, but less of
analysts' forecasts, and productivity has increased more estimates
the consensus, but at a slower pace than in previous
quarters.

The day in Europe

Ore 16:13 Piazza Affari begins one of its worst Final Session
recent years. The benchmark FTSE Eb, which weigh
strongly in bank stocks, breaking the psychological threshold of 20,000
points and sinking almost up to 19,100 points. Flying to lose more than
5%, to close down by 4.27% to 19,483.93 points

A small
perfect storm consisting of a mix of factors: the rumors of
cut the rating by S & P's assumptions about Italy-
and however absurd it denied because the outlook on our
country is stable and thus can not be a cut of about
credit the opinion
Moody's , arrived well after the S & P's a few days
ago, the possibility of a contagion of-debt problem also
Italy, the capture of the stop-loss related threshold 20:00
points with the subsequent closure of many positions fears
consequent reduction of slight growth estimates do
Government's 2010 and 2011 (an already low growth, even smaller,
raises the issue of sovereign debt consolidation), and finally, the
speculation that had been waiting for the right moment to shoot
its cartridges.

Down the other
European shares, closed up Athens

The other main
European stocks after a sharp decline starting in the tension
linked to the crisis in Athens lists have caught on,
close, down from 0,66% to 2.16 percent. For its part, the
Hellenic Stock Exchange, was not overwhelmed by the new wave of sales:
The composite index gained 0.98% and the 20 Athex 1, 39%.

The ECB maintains
detention rates

With the euro area again besieged by the tensions of markets,
European Central Bank keeps interest rates nailed to
historic low of 1 percent. The decision was communicated by
Council, which met today to travel to Lisbon,
the capitals of countries, together with Greece, considered weak links
monetary union on the drift of public accounts.

The titles at the Milan Stock

Listing with the Milan Stock sales have hit the bank:
Mediobanca has closed down 8%, 7.7% Intesa (had reached
lose more than 11%), UniCredit 7.4%, 6.79% on Ubi Banca, Banca MPS
6.6%, the 6.35% Banco Popular, Pop Milano 6.2% and 5.34% Unipol
percent.

Bernabe 'a
incredible situation '

The long list of banking stocks as the worst performance
blue chip is broken, despite himself, only by Telecom Italy (-6.23%).
A trend that has "caused" the intervention of chief executive Franco Bernabe:
"I think it an overreaction to fears that respect probably
have occurred on the Italian market "in relation" to the situation
financial world, "Bernabe said adding," what is
happening is unbelievable and unjustifiable. " According to a number of
Telecom, the financial situation in Italy is "much stronger
than that of other countries' and also the situation of Telecom and
"Strength and solidity, on the side of debt, we
will be off the market until 2012.

Euro to the lowest since March 2009

Even the euro under pressure, after a start in recovery,
reverse course and begin a sharp decline ( more
analysis by the Sole24Ore.com ). The single currency fell for the
first time in over two months to below 120 yen to 119.79 from
Yesterday's closing of 121.36. It is the lowest level since March 12, 2009.