THEhappy outcome of the auction Bot did well in Piazza Affari, leader list at the end of the morning. L'Ftse/Mib index gains 0,39%, to 16563 against Paris and Frankfurt, unchanged, and London down by 0,14%.
Il Italian treasure it placed 8,5 billion euros in six-monthly BOTs at 1,12%. Demand was 1,5 times supply. The yield is lower than that of the previous auction at the end of February which was equal to 1,2%, but slightly higher than that offered by the same maturities in the secondary market and equal to 1,7%. Government bond yields are at their lowest since September 2011.
Tomorrow the Treasury will offer between 6 and 8,25 billion euros of 5- and 10-year BTPs and the new CCTeu. The Italian ten-year bond recorded a slight improvement with the yield down to 5,03% and the spread with the Bund down to 315 points, from 321 yesterday. Milan is supported by the increases of an exceptional trio: Finmeccanica + 5%, Unicredit +1,4% and Telecom Italia +1,3%.
The incident in the North Sea continues to weigh on Eni –1% but not up Saipem +1,6%, promoted buy by Bank of America. Crude oil prices are down in view of the possible placing on the market by the United States of strategic reserves. Wti is trading at 106,6 dollars, down 0,6%, Brent at 124,5 dollars (-0,7%).
Finmeccanica tear-off the day after the presentation of the 2011 accounts who confirmed the expectation of a loss of 2,3 billion euros, linked to the cleaning up of the balance sheet. The stock, which at the start failed to make a price remaining for several minutes in the volatility auction, is now up by 7,42%. The group's Ebitda forecasts for 2012 were better than expected, while yesterday the shares were also running on rumors of Hitachi Rail's interest in AnsaldoBreda and Ansaldo Sts +1,6%.
Telecom Italy earns 1,8%. Since last February 24, the day of accounts, the title has gained 16%, driven by the promotions of the business houses and by the reduction of debt.
Finally, Unicredit +1,9%. Analysts evaluate the results of the last quarter of 2011 with great interest, much better than expected. On the other hand, the market punishes Bpm -4,7%, after the write-downs and provisions decided yesterday by the board of directors during a year in the red for 614 million. Waiting for the board of directors Mps Bank -1,64%. Retrieve StM +2,3% after yesterday's drop. positive Piaggio +3,2%. Still down Maire Tecnimont -1,7%. Backtrack by Telecom Italy Media -2%. Negative too Mediaset which loses 0,8%.
