The Treasury placed all the 9 billion six-monthly BOTs scheduled for today with some difficulty. But the interest rate paid rose to 2,96% from 2,104% last month, reaching its highest level since last December.
Positive start for the Milan Stock Exchange. In Piazza Affari, the FtseMib index rose by 0,49% to over 13 (13.031 points) with widespread increases among almost all blue chips. Plus signs also for the other European markets: Paris +0,29%, Frankfurt +0,18%, London +0,44%. Madrid +0,65%.
This morning the yield on the ten-year BTP is at 6,10%, from 6,15% yesterday evening after Angela Mekel's declaration: "Never Eurobonds as long as I'm alive". Spread at 458, Spain at 525. The bet on the outcome of the summit therefore tends to be negative.
Spain will not be able to continue to finance itself "for long" at current market rates. Spanish Prime Minister Mariano Rajoy said this during a hearing in Parliament. "It is very difficult - he said - to refinance today and it will be even worse in the future if we fail to send a clear signal that we take seriously" the consolidation of public finances and the reduction of the deficit which, according to the commitments undertaken by the country at EU level, it should fall this year to 5,3% of GDP from 8,9% in 2011.
The rates that Spain has to pay to refinance its debt have recently risen to new historic records, over 6,8%, despite the support, up to 100 billion, promised by the Eurozone to the Spanish banking system, which is in great difficulty due to exposure to the real estate sector. “There are – explained Rajoy – many institutions and financial entities that no longer have access to the market. It's happening in Spain, it's happening in Italy and in other countries, that's why it's a crucial problem".
Among the Milanese blue chips, the best variation is della Banking Popular di Milano which rises by 2,4%. Well too Mediolanum with + 2,06%. Understanding advances 1,3%, Unicredit rises by 1,83% also thanks to the news that the Anglo-Russian private equity fund Pamplona has acquired 5,1% of the capital.
Mount Paschi +1,05% while the industrial plan is being presented. positive Generali, up 1,54%. In the automotive sector, Fiat -1,05% Fiat Industrial -0,85% and Pirelli + 0,32%. StM (-1,19%) still affected by the profit warning of the German competitor Infineon. The appreciation of continues today Enel, up 0,9%. Yesterday it was one of the few positive titles in the list of Milanese blue chips. Saipem rises by 1,91%.
Among the mid caps, strong upside of Rcs (+10%) after the announcement of the sale of the French publishing house Flammarion for 251 million euros. Italcementi drops by 1%.
