Good demand for 8,5 billion 1,7-monthly Treasury bills auction placed today, but rates are up XNUMX%. Requests amounted to 14,5 billion euros against an offer of 8,5, fully placed, and with a ratio of 1,71 against the 1,5 of the auction a month ago.
Average rates are at their highest since January but still below the most pessimistic expectations of the day before, which estimated a yield between 1,7 and 1,9%.
After the auction, the spread with the Bund, which had slowed this morning, returned to 394 points, close to the psychological threshold of 400.
After a taste of the upside, the European stock exchanges accelerated downwards, even before the official results of the auction. In Milan, the FtseMib index fell by 0,45% to 14.540, Paris -0,73%, Frankfurt -0,58%, Madrid -1,85%. Only London advanced by 0,39%.
The accounts of Chrysler are not enough to support the sprint of Fiat, which fell sharply from +2,4% to -1,17% pending the Lingotto bills.
Chrysler's net profits more than quadrupled in the first quarter of 2012, mainly driven by US sales (+40%), to 473 million dollars. Revenue jumped 25% to $16,4 billion from $13,1 billion a year ago. Overall sales increased 33% to 523.000 units.
Fiat Industrial (+ 0,96 %) still in positive territory: here too the good news comes from the American CNH.
In great dust Volkswagen (+ 4%) after the results of the first quarter, which exceeded analysts' estimates: operating income of 3,2 billion (up from the previous 2,9 billion euro) against revenues of 47,3 billion. Volvo is also in evidence (+2,7%): the truck group revises its sales estimates in Europe upwards.
Takes the rebound by StM, which increases by 2,5%. Eni (+0,1%) benefits from the agreement with Rostneft to bring fields into production in the Barents Sea and Black Sea. Recovery is also Enel (+1,6%.
Finmeccanica (-4,1%) in the crosshairs, while the media barrage on bribery investigations intensifies, with CEO Giuseppe Orsi being investigated for corruption.
Mediaset loses 3,45%% after Citigroup lowered its target price.
Even the banks have wiped out their initial gains and are now all negative: Unicredit -1,97% Pop.Milano -3,68, MontePaschi -1,38% Ubi -1,87% Understanding -1,04% Banco Popular -3,28%. Mediobanca -2,2%
Among small caps, it runs Prelios, up 12% after rumors about the possible sale of a series of services businesses to the German Bilfinger & Berger for an amount close to 200 million euros.
Slows Telecom Italy Media (-2,8%) after yesterday's boom.
