Braking finish for the European Stock Exchanges which closed positive but below the highs of the day: il Ftse Eb records a + 0,48%, the Dax +0,22%, the Cac +1,01% and the ftse 100 +0,19%. TO Wall Street the Dow Jones falls by 0,48% and the Nasdaq by 0,29% shortly after the European markets closed.
In Italy the unemployment in December it reached a new record since 2004 at 8,9%, since the beginning of the monthly Istat historical series. And today, confirmed Brussels, the letter from the President of the European Commission, Jose' Manuel Barroso, to Italy and to seven other Member States with high unemployment (Italy, Ireland, Greece, Spain, Portugal, Latvia, Lithuania and Slovakia) , especially among young people, to create 'action groups' with the presence of EU officials, with the aim of reallocating unspent European structural funds, to create growth and employment.
Lo spread travels down below 420, little moved around 416 basis points and with the ten-year yield around 5,97%. The spreads of Spain, Greece and France are also down, as are those of Portugal, which in any case records record cds at 1.581 points. On the front of Greek debt an agreement is expected to be reached by the end of the week. To say it is Jean-Claude Juncker, president of the Eurogroup and prime minister of Luxembourg. The French economy minister also echoed him Baroin. On the other hand, the meeting scheduled between Greek Labor Minister Giorgos Koutroumanis and the representatives of the troika (IMF, EU and ECB) was canceled at the last minute.
THEEU agreement on budget constraints and the Fiscal compact and the green light also of the fund save states permanent ESM have pushed the lists up sharply since July. The performance of Wall Street was also positive. The index of US consumer confidence has cooled down sharply to 61,1 points from 64,8 and the Chicago purchasing index to 60,2 from 62,2. The two figures come after the macro data of house prices down in November by 3,7% year on year and -1,3% on October.
FT, ECB LOANS TOWARDS 1000 BILLION
FONSAI AROUND AXA'S INTEREST
The banks are rising on expectations for the new shot in the arm coming from the ECB. According to Financial Times, who consulted the top management of the major banks, the lenders are preparing to double, if not triple in some cases, the use of unlimited three-year loans in the next meeting in February of the ECB. So much so that the sum disbursed could reach 1.000 billion euros compared to the 489 billion requested in December. However, it still remains to be seen how these resources will actually be used and whether they will be channeled into the real economy. And on this front, in relation to the EBA rules, the general manager of Bankitalia Fabrizio Saccomanni specified that the government and the Bank of Italy are working in the fora of their respective competences so that an analysis of the impacts of the EBA recommendation on credit disbursement.
The bank recapitalization plans, already on the table for examination by the EBA, were defined by Saccomanni “encouraging” by ensuring that Bankitalia will follow the EBA recommendations with "flexibility". Unicredit which is in the final stages of the 7,5 billion increase launched also in response to EBA requests, rises by 6,34%, the best stock in the Ftse Mib. From tomorrow until February 7, unexercised rights will be offered and must be exercised by February 8. Bpm rises by 4,4% while the exit of the former director is on the table Enzo Chiesa who, in exchange for his resignation, asked for a (too) substantial severance pay and indemnification on some operations of the past, starting with the scandalous issue of the convertible. Well too Understanding +3,11% and Ps + 1,43%, most traded stock by volume. It also runs Salvatore Ferragamo +4,06% and Rest +3,14%. It also bounces Fondiaria-Sai +12% in the wake of press rumors of an interest of Axa. According to what La Stampa writes today, the French insurance group is studying the Fonsai dossier which concerns various options such as the purchase of company branches. Mediobanca, on the other hand, fell -3,69%.
BENETTON TOWARDS FAREWELL TO PIAZZA AFFARI
SEAT UP ON DEBT RESTRUCTURING
He is about to say goodbye to Piazza Affari Benetton (+9,28%): the holding company Edition Ltd, which controls 67% of the Veneto group, announced that it is "currently studying the launch of a takeover bid concerning the shares of the company not yet owned by Edizione srl itself, aimed at delisting". The decision will be made tomorrow. In the morning, the stock jumped by 9%, with suspension, on the rumors of a possible alliance between the Italian group and Inditex, the Spanish holding that controls the Zara brand. However, a spokesman for Benetton denied the rumors while Consob has turned on a light on the performance of the stock. Today the group also released the preliminary data for 2011 with revenues of around 2 billion (-1,1% at current exchange rates) and with profits down to 70 million (-31%).
It leaps by 17,23% again Seat Yellow Pages after +24% yesterday on the evolution of the debt restructuring process. Seat's board of directors formulated and approved a final proposal for the consensual financial restructuring of the company and by 28 February the creditors are called to confirm their support. For now, Seat will not proceed with the payment of the coupon dated 31 January 2012 in relation to the Senior Secured bonds.
FIAT INDUSTRIAL IN RED AFTER CONTI CNH
Fiat Industrial loses 5,19% after the accounts of subsidiary Cnh which recorded declining profits in the fourth quarter (-8% to 193 million dollars) despite increasing results in 2011 (+108% to 939 million dollars net profit over 2010). The group expects a 2012% increase in revenues for 5
