In the last sitting before the elections the Bags close in positive territory driven by theGerman Ifo index. The index rose in February to a ten-month high at 107,4 points from 104,2 in January. Milano it gains 1,39% pushed by the banks and the spread closes at 288 points from the 291,8 points at the opening. London + 0,70% Frankfurt +1,03% and Paris +2,25%. L'euro weakened against the dollar to 1,3164 (0,20%) after the ECB announced that next week 356 banks will repay 61,1 billion lter, however, an amount lower than analysts' expectations.
OnEurozone however, the gloomy forecasts of the European Commission weigh down, which revises the November estimates downwards and forecasts another year of recession for the euro area: GDP in 2013 will not go beyond -0,3%, and recovery will only occur at the end of the year , returning to positive growth in 2014 with +1,4%.
THEItaly sees estimates worsening to -1% in 2013 (-0,5% in November) and the recovery (+0,8%) will arrive in 2014, when uncertainty will be reduced. For Mario Monti "this morning in Brussels the European Commission announced that Italy is expected to exit the recession starting in 2013", he said. Meanwhile, the Treasury too, according to what was collected by the Radiocor agency, will cut its GDP estimate to -10% in the next revision of the Def on April 1, in line with the latest estimates from the European Commission but also from the Bank of Italy and the IMF.
Even core countries like Germany and France they have their own troubles. For the EU Commission the German economy is destined to slow down further with GDP stopping at 0,5% in 2013 against 0,8% of previous estimates while in France growth is at a standstill and the deficit will exceed 3,7%. Today the EU Commissioner Olli Rehn said that it will be decided in May whether to grant an extra year to Paris for the reduction of the deficit.
Even Wall Street, after the stop on fears of the politics of the Fed on the subject of Qe3, confidence is regained helped by technology stocks and banks. HP runs after announcing that profits will be better than expected and Texas Instruments benefits from the coupon increase. At the close of Europe, the Dow Jones rose by 0,43% and the Nasdaq by 0,42%.
In Piazza Affari the banking sector with the exception of Bpm -0,74%: Bper +3,72%, Ubi +3,06%, Mps +2,07% following the green light for the Tremonti bonds from the Cort dei Conti, Unicredit +1,38, 1,89%, Entente +2,01%. Generali also performed well +2012% thanks to data on premium income in 3,2 which grew by XNUMX%.
However, the best title of the Ftse Mib is Tenaris +3,84% after the publication of the results. Enel +2,51% and Snam +2,43% also did well. Telecom Italia rebounded by 1,37% pending developments on the negotiations for the sale of La7 in Cairo. However, a reorganization plan is also on the way which will go through the internationalization of activities and the recovery of efficiencies in the various structures, as Slc Cgil, Fistel Cisl and Uilcom Uil report in a joint note. For the two-year period 2013/2014, the estimate is for approximately 2.750 surpluses. Profit taking fell on Telecom Italia Media -3,67%, Cairo -2,19%. Rcs +284%. According to CEO Pietro Scott Jovane it is necessary “to show shareholders and banks a sense of responsibility, the ability to make efficiency and rethink what is strategic and what is not. We have to make the maximum possible effort and then ask the bare minimum from shareholders and banks'.
Fiat +0,63% on the day in which the fierce competitor Volkswagen publishes record accounts with the best operating profit ever but a coupon lower than analysts' expectations and 2013 forecasts in line with 2012.
At the bottom of the Ftse Mib Finmeccanica -4,06% which pays for the postponement of the approval of the budget. Pirelli -3,31%, while Camfin closes at +5,33% on the rumors, denied, of a possible takeover bid.
Mediaset -2,88% Lottomatica -2,13% Salvatore Ferragamo -0,96%.
