On the sixth day, Piazza Affari raises its head. On the day dedicated to the Bot auction lThe FtseMib index after five consecutive bearish sessions tries to rebound in mid-morning: the price list earns 1,55%; the yield on the 5,58-year BTP falls to XNUMX% e the spread narrows to 383 basis points (-10 basis points).
The tensions on the markets, as expected, conditioned the offer of the Bots. The Treasury has placed all the eight billion euros it had set itself as a target for the 12-month BOT maturing in April 2013. But the yield nearly doubled to 2,84% from last month's 1,492%. Very short-term securities are also on the rise: the Treasury placed all the three billion euros it had set itself as a target for the July 2012 quarterly BOT, with a yield that had risen to 1,249%. In the last auction in March, the Treasury had placed three-month Treasuries with a yield of 0,49%.
In any case, the Stock Exchange records with a sigh of relief the news that the entire quantity on offer has been absorbed, even if the "political" commitment of the credit system should not be underestimated. The commitment of Italian banks to protect the dam of government bonds was reaffirmed in the morning by the director general of ABI Giovanni Sabatini.
In Europe, Frankfurt is up 0,8% e Paris 0,64%. Madrid rises by 1,3%: in line with forecasts, industrial production in Spain, which fell by 5,1% in February, economists had expected a drop of 5%.
THEeuro recovers positions against the dollar to 1,312 from 1,3108 at the close.
Even before the auction the banks, after the Caporetto on Black Tuesday the banks started to gain momentum. After losing 23% in the last seven sessions, all closed lower, Unicredit rebounds and earns 4,4%. Intesa Sanpaolo + 5% Where's Banca + 4% Banco Popolare +3,6%. At this price, after four years of negative or cautious assessments, HSBC has also brought the recommendation on European banks to overweight from the previous neutral. They also bounce Generali +1,6%, on a par with managed values: Azimuth +1,7% and Mediolanum + 1%.
In recovery, among the most targeted titles, too Fiat earning 3%, Well Fiat Industrial + 1,5%. Pirelli +0,4%. Breath of fresh air for A2A +2%, already falling to lows.
Enel in balance after the disappointing data on electricity consumption in Italy, which fell by 4,9% in February.
In the meantime, continue the march of RCS Mediagroup, previously suspended due to an excessive rise, which scores a 7% gain.
