Closing down slightly for Business Square -0,39% despite the positive start and good success of the Bot auction. The Ftse Mib index, which settled at 21.384 points, slipped into negative territory in the afternoon weighed down by Stm and the banks. The stock market moved in line with the performance of the other European markets which were affected by the uncertain start of Wall Street and the fears of a rise in US rates as early as March 2015. Paris loses 0,47%, Frankfurt -0,64% Madrid +0,2% and London unchanged. Sales across the Channel on Barclays in the wake of allegations by US authorities of fraud and deceptive practices towards its customers. The London Stock Exchange has bought the US investment company Frank Russell for 2,7 billion dollars. LSE will finance the operation in part through the issue of shares for 1,6 billion dollars.
Today the Treasury placed everyone the 7,5 billion euro of 6-month BOTs with rates falling to an all-time low of 0,309% from 0,492% in May. Demand edged up slightly with the coverage ratio at 1,73 from 1,70. Strong demand then for the CTZs offered by the Treasury in the specialist auction: they were requested for a value of 1,30 billion against an offer by the Treasury limited to 375 million, entirely assigned. The auction for specialists also involved the indexed BTP maturing on 15/9/2014 which requested 488,4 million out of the 150 offered. The 5- and 10-year BTP auction is scheduled for tomorrow. Rates are still expected to fall to the new historic lows, below the two psychological thresholds of 1,5% for the five-year and 3% for the ten-year respectively.
After a shaky start, the indices a Wall Street are in sharp decline. The Dow Jones fell 0,41%, the S&P500 0,42% and the Nasdaq 0,35%. After the shock revision of US GDP in the first quarter, the governor of the Federal Reserve of Richmond, Jeffrey Lacker, says he is convinced that the data will rebound in the current quarter, adding that the US central bank "may need to raise interest rates even without a substantial acceleration of economic growth”. Inflation, he noted, is recovering faster than estimates but remains below the 2% target.
On the macro data front, the data on the US was released today claims for unemployment benefits and that on personal income and expenses. In the week ending June 21, jobless claims fell by 2 to 312, slightly beating analysts' expectations for 310 claims. In May, both spending and personal income rose in the US, by 0,2% respectively (slightly below the consensus set at +0,4%), while personal income met expectations, recording +0,4%. . The euro-dollar exchange rate showed little change at 1,3616 while WTI oil lost 1,19% to 105,23 dollars a barrel.
In Piazza Affari at the bottom of the Ftse Mib there is stm which yields 2,28%. The company today announced an offering of senior unsecured notes in a nominal amount of $5 billion. The new securities, divided into two tranches: with a maturity of 7 and 20 years, are convertible into ST ordinary shares already outstanding or to be issued. The company has also announced a treasury share buyback program for a maximum number of ordinary shares to be repurchased of 2,2 million, equal to approximately XNUMX% of the ordinary shares constituting the capital today.
Bad the banks: Bpm -2,25%, Ubi -2,16%, Banco Popolare -1,9%, Unicredit -1,76%. Mps -0,33%, the increase closes tomorrow. Agreement on equality. According to a Consob communication, Generali has fallen below the threshold of 2% of Ca' de Sass.
Telecom Italy +0,27%. Today the Board telco resolved unanimously the plan for the partial demerger of the company, as a result of which the assignment of the pertinent share of the investment held by Telco in Telecom Italia (22,4% of the capital) will be determined to four newly established beneficiary companies, wholly owned by each shareholder. The completion of the demerger it is subject to authorization by the Brazilian and Argentine authorities, as well as by the Italian Ivass. The shareholders' meeting convened for July 9 to approve the financial statements will also decide on the demerger of Telco.
On top of the Ftse Mib Ferragamo +3,5%, followed by Mediaset +2,11% later the assignment of TV rights to football matches. The Lega Calcio, according to what has been learned, has assigned to Sky all the matches of the Serie A 2015-18 championships via satellite for 572 million, to Mediaset the package of 8 big teams for digital terrestrial for 373 million euros.
