According to the prime minister in charge, Matteo Renzi, the conditions are there for doing an “excellent job”. Despite the encounter-clash with Beppe Grillo, leader of the Five Star Movement. After the consultations, the leader of the Democratic Party went to the governor of the Bank of Italy, Ignazio Visco, where he held a conversation for about an hour.
The markets seem to be optimistic about the peripheral countries and seem to believe in the reformist chance proposed by Renzi. The spread in the morning it dropped to 187 basis points before returning to 192, while the Waist failed the maximum target of five billion which it aimed for for the auction maturing in February 2024, managing to place only 3,796 billion (average yield down to 1,64% from 1,77% on 29 January last and ratio of coverage to 1,14 from 1,81).
Meanwhile the Portugal successfully placed 12-month bonds with a yield of 0,75%, at a four-year low. Greece recorded a current account surplus of 1,244 billion in 2013 against a deficit of 4,615 billion the previous year, the first time since 1948.
Milano it reduced the losses of the day and closed slightly below parity (-0,2%). The European Stock Exchanges were also weak: Frankfurt and London closed on parity, while Paris closed at +0,24% and Madrid at +0,11%.
Europe is agitated byUkrainian emergency. Kyiv's defense ministry has announced that armed forces may take action against anti-government protesters in Ukraine. The United States is considering the possibility of launching sanctions against the country.
In the afternoon, after a slightly lower start, the Dow Jones moves into positive territory +0,29% and theS & P500 salt of 0,20%. Below parity the Nasdaq -0,05%. The markets are awaiting the publication of the minutes of the last meeting of the Federal Reserve expected for 20. The euro/dollar exchange rate is stable at 1,3761 while the ruble collapses to its lowest level in five years, with the euro exceeding 49 rubles. WTI oil rose by 0,6% to 103,4 dollars a barrel.
However, a disappointing figure came from the United States on the front of new construction sites which fell in January by 16% to 880 while building permits fell by 5,4% to 937.000. January producer prices increased by 0,2%.
In Piazza Affari it stands out A2A (+5,2%) after the 2013 accounts which showed an increase in EBITDA and a reduction in debt. Mediolanum (+1,2%), Ansaldo Sts (+1,2%) also did well: according to press rumors there would be contacts between Finmeccanica (-1,77%) and Ge for the sale of both Ansaldo Breda and Ansaldo Sts . Cnh Industrial +1,18%, while Saipem (+1,17%) benefits from rumors of a possible interest by the Norwegian Subsea7.
At the bottom of the Fts Mib Tenaris, penalized by the US Department of Commerce's decision to preliminarily apply anti-dumping tariffs on the import of steel pipes from eight countries. Also down was Tod's -1,87%, Banco Popolare -1,78%, Unicredit -1,5%.
Moody's confirmed the Baa2 long-term rating and raised the outlook to stable from negative of 7 Italian financial institutions: Unicredit, Intesa Sanpaolo, Banca IMI, Banca CR Firenze, Cassa Depositi e Prestiti and Cassa di Risparmio di Parma e Piacenza (Cariparma ). Intesa rises by 0,7%. This morning UBS analysts decided to confirm the Buy and to raise the target price to 2,45 euros from 2,10 euros. Today, the bank placed renminbi-denominated 5-year senior bonds in the debt market in good demand.
Mediobanca slips 0,21% after the positive reaction to the accounts that recorded a profit more than doubled. Piazzetta Cuccia has reduced the Pact's lapse threshold to 25% from 30%. Generali +0,3% on the day of the Board which must decide on the liability action against the former CEO Perissinotto and the former manager Agrusti.
