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Thursday, October 6, 2022

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    The new covid variant sinks the airlines and tourism companies on the stock market

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    The fear for the new variant of the covid identified in Africa sinks into the European stock exchanges airline companies and the sightseeing. Meanwhile, many countries have already banned travelers arriving from South Africa and neighboring countries.
    In the Old Continent, the stock sector of airlines fell sharply by 10% with Lufthansa (-9%), Ryanair (-7.9%) and Wizz Air (-7.3%). The tourism sector is also bad with the shares of hotels and restaurants that lose 3.5%. Sales also in luxury (-3.3%) with the risk of new closures to deal with infections. Kering (-4.1%), Burberry (-4%), Lvmh (-3.5%) and Dior (-3.3%) are down.

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    After the sharp decline in Asian markets, the stoxx 600 area index in Europe dropped 3.1%.

    In red Paris (-3,4%), Frankfurt (-3,1%), Madrid (-3,2%), London (-2,9%).

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    The Milan Stock Exchange (-3.1%) continues to be heavy, in line with the other lists of the Old Continent. The markets have unleashed fear over the new variant of the coronavirus identified in Africa and the effects on the economic recovery. In this scenario, the spread between BTP and Bund rises to 129 basis points, compared to 125 at the start of the session. The yield of the Italian ten-year declined to 0.99%. In Piazza Affari, banks suffer with Unicredit (-5.4%), Banco Bpm (-4.5%), Intesa (-4%), Bper (-3.4%) and Mps (-0.7%) . Equities linked to oil are also heavy with the price of crude oil falling. Sales on Eni (-4.6%), Tenaris (-4.8%) and Saipem (-4.1%). On the black Friday of the markets, Ariston’s debut was down (-3.6%). The car sector was also bad with Stellantis and Cnh (-3.5%). Luxury also slipped with Moncler (-2.7%), Cucinelli (-2.2%), Ferragamo (-3.1%) and Tod’s (-4.3%). In contrast to the price list, there is Tim (+ 1%) at 0.49 euros, on the day of the board of directors after the proposal advances from the American fund Kkr at 0.50 euros. Savings shares were flat (-0.02%) at € 0.46. In Piazza Affari toned Diasorin (+ 6.3%).

    The drop in energy weighs on the lists (-5.5%), with oil suffering a new sharp decline and in fact returning to the levels of last July, eliminating the autumn rally.
    In Texas, the WTI fell to 74.56 dollars, to then settle around 75.03 dollars (-4.26%). Brent also fell, leaving over 3.8% on the field at 79 dollars a barrel. The price of gas is down. In Amsterdam the price drops by 2.5% to 90.87 euros per Mwh. On the commodities front, gold rose at 1,804 dollars an ounce.
    In the Old Continent also banks (-4.5%) and cars (-4%) are down. On the currency side, the euro against the dollar continues to rise slightly to 1.1273 in London.


    Source From: Ansa

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