Il Tesoro has assigned all 8,5 billion euros of the new 6-month Bot January 2014 with the rate returning below 1%. The average yield fell to 0,799% from 1,052% at the June auction. In the May placement, the rate was 0,538%. The coverage ratio improved, rising to 1,47 from 1,36 in June.
Milano it remains the only exchange in negative territory. The Ftse/Mib index marks -0,25% at 16.380. The European Stock Exchanges were more optimistic with Frankfurt gaining 0,5%, Paris 0,4% on a par with London. The good quarterly of Danone (+2,9%) and of Reckitt Benckiser (+1,2%) help the price lists, which are not affected by the red closure of Asian stock exchanges.
La business confidence manufacturing returned in July to its highest levels since November 2011. The index measured by Istat rose to 91,7 from 90,5 in the previous month (revised from 90,2). The increase in the overall index reflects the improvement in confidence that is widespread in all the economic sectors under investigation: from manufacturing and construction companies to those in the retail trade and market services.
The market bets on Fiat (+3,19%) on the eve of the quarterly. Investors are betting on some positive news regarding Chrysler, in particular on the decision of the Delaware court regarding the call option (on 3,32% of the capital) exercised by Fiat.
Ansaldo Sts (+0,9%) was awarded a saleswoman in Saudi Arabia from 680 million dollars to build a line of the new Riyadh metro. The contract also includes an option (approximately an additional 249 million dollars) for the next 10 years of maintenance. The winning consortium, organized by Ansaldo Sts, is made up of Salini-Impregilo (+1,3%) and Larsen & Toubro, Nesma for the civil works, Ansaldo STS, for the technological part, and Bombardier for the supply of vehicles .
Among the banks, Understanding -0,29% and Unicredit -0,73%. Down B. Pop. Milan (-1,97%). Among the analysts' recommendations: UBS raised its target price up Brembo (+3%) to 17 euros from 13, confirming the buy judgment. Eni -0,84% and China National Petroleum Corporation concluded the sale for 4,2 billion dollars to the Chinese group of 28,57% of the shares of the company Eni East Africa, owner of 70% of the investment in Area 4, in offshore Mozambique.
Cementir marks +4,2%: this morning Mediobanca raised the target price on the stock by 36% to 3,2 euro from the previous 2,35.Piaggio +1% promoted to neutral by Mediobanca with a target price raised to 1,85 euro from 1,65. Citigroup also confirms neutral with a target price reduced to 2,2 euros from 2,3. According to Piazzetta Cuccia analysts, the results were weak as expected but the positive surprise comes from cost cutting.
De Longhi (+0,9%) on Friday it communicated a good quarterly performance and Bank of America confirms the buy opinion, reducing the target price to 14 euros from the previous 14,3.
