Leap of the Bot returns annuals in auction today for 6,5 billion euros. The rate has shot up from 2,34 in May To 3,972% to December highs. The securities have been fully placed. The spread between the btp and the bund remains stable at 457 basis points after the one-year Bot auction. The rate is at 6,077%.
The first part of the morning had been dominated by anticipation of the auction. Started well, Piazza Affari turned downwards -0,5%. After the auction, at 11.30 the Ftse-Mib index was -0,24% at 12.948. The other European Stock Exchanges are weak: Paris -0,11%, Frankfurt -0,07%, London -0,08%. Madrid scores +1,2%.
Euro slightly up against the dollar to 1,2521 euro from 1,2503 yesterday evening. The positive signs are all occupied by bank stocks: Bper +2,71%, Banca Pop Milano +1,98%, Mediobanca +1,35%, Intesa +1,16% and Ubi +1,12%. Intesa advances by 2,05%, Unicredit +1,65%.
Fonsai marks +4,11% after the go-ahead for the Premafin capital increase. This morning the lawyers of Sinergia, the Ligresti family holding company, asked for two weeks to present the rescue plan to the judge of the bankruptcy court of Milan, Roberto Fontana who reserved the right to decide tomorrow whether or not to accept the request. The hearing for the other Ligresti holding company, Imco, is expected in the afternoon.
Industrialists in sharp decline starting from Pirelli -4,94%. This morning's comment from Morgan Stanley weighs on the tire companies: after being at the Reifen Show last week, the largest world exhibition dedicated to tyres, the American broker's analysts warn that volumes are not improving. However, Morgan Stanley confirms its positive opinion on Pirelli, considered the best investment to protect itself from the slackness of the market.
The landslide continues Fiat Industrial -4,02% dragging down Exor -3,09% on the eve of the start of the Sequana capital increase. Fiat -2,02%. Down Parmalat -2,72%. Heavy losses even for Tenaris -2,71%. Big up Telecom Italy Media +6% reaching 0,1488 euro. In addition to L'Espresso and the Cairo group, Al Jazeera (Qatar), CCTV (China) and RTL (Germany) are also studying the dossier.
