FINMECCANICA DOWN, BANKIA CYCLONE -22% ON CREDIT
RECESSION IN EUROPE, COMORA HEINZ BUFFETT +19%
Day of discounts on European stock exchanges. Milano at 14 pm the Ftse Mib index lost 30% to 0.86, Frankfurt -0,92%. London is down 0,5%, Paris 0,6%.
Instead, a lively day looms for Wall Street: Heinz climbs 19% in premarket share. The agribusiness company announced that it was bought by a consortium formed by Berkshire Hathaway of Warren Buffett and the 3G fund for $28 billion (including debt).
Sul government bond market, the 10-year BTP is indicated at a yield of 4,41% (+3 basis points). The yield on the Bund falls to 1,63% (-3 basis points). The spread goes up to 278 basis points.
The heaviest-than-expected drop in eurozone GDP depressed markets: -0,6%. The euro reacts to the disappointing news on the economic picture of the euro zone: against the dollar it is indicated at 1,332 from 1,345 at yesterday evening's close, it is the low of the last three weeks. The currency visibly retreated against the yen to 124,24 from 125,64 at yesterday evening's close.
The new alarm on the fate of the banking system weighs even more heavily.
Madrid -1,65%, the square most affected, notes that Bankia's shareholders will be drastically diluted by the capital increase necessary to keep it standing, the stock is back in trading after a suspension and loses 22% to 0,40 euro, yesterday it had lost 10%. The new shares should be issued at €0,01 each.
In Milan i credit titles they are all downhill, also penalized by a Mediobanca report which warns that even some large European banks will be forced to launch new capital increases. The largest decrease is that of the Popolare dell'Emilia Romagna - 1,93%. Unicredit-0,27%, Intesa-1,07%. MontePaschi -0,08%, Banco Popolare -0,42% and Ubi -0,61%. Only Mediobanca rises +3,08%.
Still down Finmeccanica -1,37%.
Among industrial stocks, Fiat lose 1,16%, Pirelli + 0,75%.
StM– 0,93%. Down It is in the -1,34% ed Eni -1,3%. salt Saipem +1% after yesterday's announcement of 2012 results.
Telecom Italy loses 0,63%.
