Auction Bot is booming. The spread is close to 300 bp. Piazza Affari is still this morning, behind Madrid (+2%), the liveliest and most brilliant in Europe. Having set aside the problems of Italian politics, the financial markets are re-evaluating the Bel Paese.
This morning the Treasury placed all the 3 billion euro of 3-month BOTs with an average yield that fell to an all-time low of 0,243%, from 0,765% at the October 2012 auction. All the 8 billion Bots in 1 year with an average yield down to 0,922% from 1,280% in March.
No less euphoric the bag: in Milan the FtseMib index rose by 1,26% to 15630. London +0,7%, Paris +1,2% and Frankfurt +1,13%. The euro continues to run and goes beyond 1,31 against the dollar for the first time since last March 8th.
Among the Eurostoxx sectors in evidence, Banks +2,3%, Insurance +1,3%, Auto +1,3% stand out.
In Piazza Affari, the recovery of the banks continues among the main headlines: Unicredit + 2,57% Understanding + 2,6%. Banco Popolare + 5,57% Mediobanca + 4,11%. Ubi scores +2,98%. After yesterday's jump (+5%), it's still going up Azimuth +4,18%, which recorded a good collection in the month of March. Bank of America raised its recommendation to Buy from Neutral.
In decline Impregile it (-1,3%), by purchasing the share today it is no longer possible to take part in the tender offer launched by Salini for 4 euros. On the eve of the BoD dedicated to the "3" dossier, the fever subsides Telecom Italy, which drops by 1,3%. Featured Insurance: Generali +1,67% and Fondiaria Sai +4% on new highs since July.
Among the industrialists Fiat earns 3,91%, Finmeccanica + 3% StM +10,95. Retrieve Pirelli which rises by 2,3%. They also turn higher after a slightly lower start Enel +1,46% ed Eni + 0,28%. A2A +2,24% marks new highs since June. Weak only the luxury stocks, fresh from a prolonged rally: Tod’s -0,09% cucinelli + 0,2% Ferragamo + 0,6%.
