BAGS, IT WAS THE YEAR OF RECORDS. YOOX, MEDIASET AND FONSAI ON THE PODIUM
One thing is certain: 2013 was a nightmare year for the Bear. Not only because the Ftse Mib index closed the year with an increase of 16,7 percent. But, above all, there has been a trend reversal compared to the trends of past years. The overall capitalization of companies listed on the Milan Stock Exchange rose to 438,2 billion, 19,9% more than in 2012. The value of the securities listed on the Milan Stock Exchange thus reaches 28,1% of GDP (it was at 22,5. XNUMX% last year).
This result was achieved with the massive introduction of new listings on the stock exchange: 18 new IPOs for total funding of 1,4 billion euro. Overall, there were twenty new admissions to the stock markets and 17 companies revoked, for a total of 326 listed companies at the end of the year (there were 323 at the end of 2012), of which 290 on the main market, the MTA (68 Star) and 36 on Aim Italia, the price list dedicated to small and medium-sized enterprises. Of the IPOs, only two are listed on the MTA: Moleskine e Moncler, which represented the largest quotation by countervalue requested since 2000 (demand for over 20 billion euro, equal to 31 times the amount of securities offered and funding of approximately 680 million euro). One freshman was listed on the Miv and the other 15 on the Aim. Added to these are the admissions on Mta di Cnh Industrial after the merger of Fiat Industrial into Cnh Industrial and di World Duty Free post demerger of Autogrill. There were six IPOs in 2012 and nine in 2011.
In the FtseMIb basket, three companies achieved performances over 100%: Yoox +170%, Fonsai 140 and Mediaset over 120%. Unicredit it was the most traded share both in terms of value, with a total of 95,2 billion euro, and in terms of contracts with 5,5 million. The differential between the Italian and German ten-year reference rates went as far as below 220 basis points, up to around 217, the lowest since 6 July 2011, when it had reached 207 basis points.
With the placement of the BTP Italia last November 5, a new absolute record was established for trades in a single session on the bond markets with 252.688 contracts, and for countervalue with over 18,3 billion euros traded. In short, a record performance, but far from exceptional if we look at the behavior of the other indices. On Wall Street, the S&P 500 is preparing to archive the best annual performance since 1997 (+27% approximately). On the other hand, the groups listed on the benchmark index are worth 3.700 billion dollars more than 2 months ago, also thanks to the injection of liquidity by the Federal Reserve. Frankfurt also rallied, thanks to low interest rates.
The performance of the European periphery is even more extraordinary: the Athens Stock Exchange leads the race +44,8%. Followed by Ireland +35,4% and Finland +35,3%. The Stoxx 600 index loses 0,2%, in the morning it reached new highs since 2008. At the other extreme, the Emerging Countries: Chile -24,4%, Indonesia -26,8% and Peru - 32,4%. With the placement of the BTP Italia last November 5, a new absolute record was established for trades in a single session on the bond markets with 252.688 contracts, and for countervalue with over 18,3 billion euros traded.
