European stocks fall dragged by banks in Italy

The main european bags have fallen this Tuesday dragged by the drop in banks after the new tax applied to this sector by the Italian Government, on a day in which a drop in the final data of the consumer price index (CPI) for July has been published in Germany.

Milan has lost 2.12%; Frankfurt 1.1%; Paris 0.69%; Madrid 0.61%, London 0.36% and the Euro Stoxx 50 index, which groups the main European listed companies, 1.12%, according to market data consulted by EFE.

The stock markets opened with losses and, despite the fact that Milan and Madrid reached gains shortly after opening, they fell again after the Italian government unexpectedly approved a 40% tax on the extraordinary profits of banks.

After said announcement, the parquets increased the falls until approximately half a session, from which time they began to reduce them, which did not prevent them from closing negative.

For its part, Wall Street also opened in the red after the risk rating agency Moody’s lowered the credit rating of several banks in the country.

Before the European markets opened, the Chinese trade balance for July was known, which registered a greater drop than expected by the export and import experts.

The final CPI data for July in Germany were also published prior to the opening, whose general rate was the same as the preliminary one and stood at 6.2% (in June it was 6.4%), while the core rate marked 5.5% (5.8% in the previous month).

At the close of the European stock markets, Brent oil, the benchmark in the Old Continent, fell 0.56%, to US$ 84.88 per barrel, and the euro depreciated 0.46%, to US$ 1. .0952.

In the debt market, the ten-year German bond, considered the safest, has closed with a yield of 2.462%, 13.4 basis points less than the day before.