Begins with the week of the rise of the major European Stock Exchanges and the world.

After the collapse of recent days, the combined intervention of central banks and governments had a somewhat 'confidence in the markets. And so the stock exchanges in Europe, which already had good matches, have accentuated the gains after the good opening of Wall Street: to push the price of the proposed tax incentives to the relaunched by the Fed Governor Ben Bernanke.

And the words of a number of U.S. central bank also gave impetus to the dollar rate which has recovered share 1:33 against the euro. The oil is recovered part tapping $ 74 a barrel, waiting for the decision to next Friday, when the cartel of producing countries should decide to cut production by 500 thousand barrels per day to support prices (compared to half maximum July when the oil was flown to 147 dollars a barrel). However, the average cost of the last quarter of 2008, are intended to fall than it did not occur until today. One factor that should lead all manufacturing costs, which is strongly affected by energy prices.

Meanwhile, some U.S. technology companies, including Google and HP have already announced better than expected results, while from next week will begin the season of quarterly Piazza Affari. All of which have heartened investors bringing some 'selective purchasing on the stock market. At the country level, the palm is the best way to increase the London Stock Exchange (plus 4.68%) followed closely by Paris (plus 3.17%), Madrid (plus 2.99%) and Frankfurt (plus 1 , 11%).

A Piazza Affari, however, the Mibtel index has closed 2.65% higher at 16,969 points and S & P / Mib of 2.48% to 22,182 share.

Among the areas that have put more light it should be noted the rebound in the securities of construction (Buzzi with an increase of 11% and 6.5% Italcementi), the telephone and energy of those that have been favorites since the resumption of quotation of oil. So Eni (plus 2.56%) Enel (plus 5.6%) and Saipem (plus 3.6%) all have recovered strongly. Telecom Italia (plus 7.6%) has literally marked the flight along with the other phone in Europe, the expectations of third quarter better than expected. But the Italian group was also encouraged by the statements of the shareholder Marco Fossati (who through Findim has a 5% Telecom) which has renewed the confidence in director Franco Bernabè.

Remains under pressure to the motor industry (with Fiat in decline, 1, 1%) and financial. While Unicredit has still lost 2.5%, and Banco Popolare Ubi have had to do with fractional gains.

Collapse the stock exchanges in Europe and does not stop the index scivolone Use. After it fell below the threshold of 10 thousand points for the first time since 2004, the Dow Jones broke the threshold of 9600 and reaching 9525 points, worst drop ever in points (-800).

The Nasdaq lost in dell'7, 78% and the Standard Poor's Composite by 7.3%.

The Black Monday of European Stock Exchanges has already closed with heavy losses: Milan -8.24%, -7.29% London, Frankfurt -7.07, - 9.04% Paris, which has suffered the largest decline since 1988, from debut Cac 40 index. In one session, Europe has burned 44 billion, with the DJ Stoxx 600 index, which registered the worst performance dall'87 today.

Piazza Affari close to -8.24%: They have lost the 8, 24% is the Mibtel at 17,976 points, the S & P / Mib, to 23,776 points. The two main indexes of Piazza Affari store today the worst performance since'98, ie the birth of Borsa spa, overcoming negative in the sitting of 11 September 2001.

The European Stock Exchanges burn a total of 445 billion euros. The DJ Stoxx 600 index, which capitalized on the eve of 6140 billion euros, has lost 7.23% today, reaching the lowest since November 2004 and recording the biggest decline in a single sitting from the historical Black Monday in 1987 when ' Dow Jones index on Wall Street lost in a single session more than 20 percentage points.

On European financial markets has been panic to dominate. The approval of the Paulson plan did not give support on the stock exchanges worldwide, as investors were convinced that the financial crisis affecting the economy and that the consequences will be heavy. In Milan the securities were sold freely, without any exception whatsoever. To the point that many actions of the companies more capital to the middle of the day have been suspended for excessive downward (in the afternoon sixteen titles had been to stop excessive downward simultaneously). Even actions taken usually stable, such as ENI (-9.66%) or Atlantia (-10.5%). Banks are literally collapsed and not only in Italy but across Europe, now that you no longer trust the soundness of banks. Furthermore, the same banks suspect one another, and the evidence is that rates on the interbank market, up for months, today marked new highs: Euribor a week updated the top of the last seven years , at 4885%, while the rate in three months today announced the new maximum by 1994% from 5345 to 5339%.

Moreover, the panic was triggered by the real facts: if the crisis has devastated the U.S. banking system, did not spare the European institutions. Last week, Fortis, B & B and Dexia have averted the worst by government intervention, while Germany's Hypo Real Estate has received a mega-financing of 35 billion, to which are added another 15 billion paid this morning, again by the banks and insurance Germany. All, of course, to avoid bankruptcy. Unicredit in Italy has raised doubts and suspicions on the banks over the weekend by launching an emergency plan by 6.6 billion. Plan but was denied until the last moment by means of official statements on the soundness of the bank. On the final actions have stemmed the losses to 5.48%, buoyed by the news on purchases of managers Alessandro Profumo and Paul Fiorentino noted titles. Investors, however, have pointed to the index on the credibility of management and have started to ask questions on the situation in other institutions: this is because the collapsed Banco Popolare (-14.7%) and IntesaSanPaolo (-11.28 %). They are also the slips Bpm (-6.2%) and Unicredit (-5.48%). Has stemmed its losses to 3% Mps.

Euro hit: the odds of the single currency fell below $ 1.35 for the first time since August 2007. In relation to the yen, the single currency came to 135.75 to the lowest since March 2006. Closing in general market slump. In the end, the euro has been shown to 1.3527 dollars (1.3810 Friday) after being indicated by ECB in the early afternoon at 1.3634 and having reached the last, the new low since 17 August 2007 (1.3469 ).

It 'just the euro - along with the European exchanges - the tragic victim of the crisis of global markets, which suffered declines from dizziness especially among the equity of the old continent. The reason is simple: unlike the U.S., so far Europe has done absolutely nothing in order to properly address the crisis, apart from the efforts, however massive, of the individual states. The ECB is stubbornly entrenched behind the need to control the 'inflation, even with the effect of raising the cost of borrowing to 4.25%, except preannounce then suddenly reversing a few days ago. When the cost of borrowing will be cut, the horse will have bolted from the stable, that is, the collapse will be even more evident. The euro continues to slide as well, with obvious relief to European companies, in the past suffer from high quote of the single currency. Moreover, the benefits of change at this stage can not be exploited, given the recession is likely already in place. It is not at this point be excluded that we will in the coming months towards the euro / dollar, the prospect unthinkable just a few weeks ago.

Oil fell below $ 89 in New York, continuing a very pronounced fall in place for several weeks. In turn caused by the recession and the fact that the euro lost strokes against the dollar.

America Latina. In the wake of what has happened in Asia and Europe and is happening on Wall Street, the major Latin American stock exchanges have opened today, with strong declines. While in St. Paul, the sitting was suspended when the index fell by 15% in Buenos Aires the collapse was 8, 96%, in Mexico City, 8, 21% of Chile and Santiago, 4, 49%. The Sao Paulo Stock Exchange has stopped work for the second time after its main index, the IBOVESPA, left on the ground more than 15% approximately two hours after opening. The first break occurred about half an hour after the start of trading, when the index had sold 10%. Fears of globalization of a banking crisis weighing on prices also involving South America and the Stock Exchange of Buenos Aires, where the index is MERVAL slipping by almost 10.5% and that of Bogota, Colombia, which yields 6.1% .

Banking shares again in the storm on the circuit computerized Borsa Italiana. Sales orders more than abundant on the stock market our mandate inexorably down the banking sector. With the title of Unicredit driving the heavy discounts. The air is still difficult. It seems to be unable to save anyone. Always weigh the worries of U.S. banks and now also the new European realities of the crisis as Fortis and Bradford and Bingly. I mean, again panic on equity. If possible, you feel somehow closer to the crisis.

In Milan, Piazza Affari, the title of Unicredit "shines in negative" has touched the minimum price that he saw in 2003. But to go down is all in red Intesa San Paolo, Monte Paschi di Siena, Banca Popolare di Milano, Banco Popolare, Ubi. The whole note. Reaction heavy. The whole "emotional". The "grounds" of the market is there, but be careful not to lose his head. Irrationality does not pay too. The problem is that it is always ex post ...

The American plan to dismantle the financial crisis has put the wings on the stock exchanges in Europe and in particular on the Milan Stock Exchange at Piazza Affari where there was a rebound record of the last 10 years with +8.2%.

The London Stock Exchange gained 9.40%, the Paris stock exchange the 9.27% and the Frankfurt Stock Exchange 5.56%. Even Wall Street has ended sharply upward, with the Dow Jones to +3.33%.

Shields on the Piazza Affari Mibtel closes at +7.70% to 21,227 points, the best performance in the network over the past 10 years.

Greater upside of the last 10 years even for the 'S & P / Mib to +8.62% at 27,877.

Square Business and all the European stocks are well managed to clear the record losses this week. L 'pan-European index DJ Stoxx 600 has achieved the largest increase of the last 20 years +8.27%

Piazza Affari started the session on Thursday, still falling. The first was a Mibtel -1.09%, the Sp / Mib a -0.02% and the Alliance Stars a -1.21%. But after a few minutes he tried the rebound, along with other places in Europe, in the wake of the interventions in the news announced by central banks to place liquidity in the system. The tension remains high after the closure of massive drop on Wall Street and the thud of Asian Scholarships.

New turning downward to the stock exchanges in Europe, after an attempt to rebound in the opening, the announcement triggered intervention joint central bank. The party, pero ', and' time a handful of minutes. The Mibtel acknowledge a decline of 0.99% and S & P / Mib of 0.81%. Male also Paris (-0.75%), Frankfurt (-0.65%) and Amsterdam (-1.3%).

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