The market applauds, but not too much, the placement of the Spanish Treasury. Spain has filled up in the auction of 10 and 2-year bonds, placing a total of 2,54 billion bonds, just over the 2,5 billion expected, but at rising rates: 5,743% against 5,403% in January , albeit below the infernal threshold of 6%. Rates on the two-year bond instead stood at 3,463%, slightly down from 3,495% in the previous auction.
The uncertainty was immediately reflected in the performance of the price lists. In Milan, the FtseMib index increased by 1,1%, only to cancel the gain in a few minutes and move into negative territory (-0,43%). Sharp reverse also for the other European Stock Exchanges: Frankfurt +0,1%, Paris +0,3%, London +0,2%.
The BTP sees the yield rise by 6,4 basis points to 5,5%. The spread widens to 380 basis points from 373 yesterday evening. The Spanish spread widens to 414 points. The outcome of the auctions in France is now awaited: a total offer of 7-8 billion on the 2014 and February 2017 maturities and on the April 2015 OAT. To these must be added the offer of 2-3 billion indexed OATs in July 2018 .
Instead, the race of Fonsai (+3,78%) and Unipol (+1,31%) continues, albeit below the highs recorded at the start of the session.
