3-YEAR BTP, YIELDS FLY TO 5,3%. CREDIT SUISSE “FREEZES” THE BANKS
Jump in yields in the 3-year BTP auction. The Treasury sold securities maturing in March 2015 for a total of three billion, the maximum pre-set amount, but rates rose to 5,30% from 3,91% in the similar auction in May, marking the highest since December.
After the auction on Italian government bonds, the Ftse Mib index dropped 0,65%% to 12.817, in line with the widening of losses on European lists. The London Stock Exchange falls by 0,81%, Paris -0,91%, Frankfurt -0,67%. Madrid is down 0,31%. On the government bond market, the ten-year BTP is traded at a yield of 6,25%. Spread widening to 478 points.
The news that the Central Bank of Switzerland has urged Credit Suisse to strengthen its capital structure, possibly with a capital increase, to better face the risks from exposure to the Eurozone contributes to worsening the sentiment on the European Stock Exchanges. In Zurich Credit Switzerland falls by 4%. The rival ubs drops by 1,2%.
Volatile were the banks, which had started the day with a slight recovery, then changed course: Unicredit -0,25% Mediobanca -0,54% Ubi -1,45% MontePaschi -2,93%. Banco Popolare -1,66%. On positive ground Understanding +0,4%. The weakness of the auto sector continues: Fiat, down yesterday, is down 1,78% this morning. Pirelli -0,8% Fiat Industrial -1,3%.
Exor -0,44% could, according to press rumors, increase the stake in Fiat Industrial so as to hold the absolute majority of votes after the merger with CNH.
In the meantime, the 150 million capital increase of the investee Sequana is starting today, which will only be partially subscribed for around 18 million, bringing the stake down from the current 28% to around 18-20% to make room for the French Strategic Fund. Eni decreases by 0%, Saipem drops by 1,2%. It also moves back Prysmian -2%. A2A +0,07% after yesterday's sharp drop.
Mario Greco will start work at Generali (-0,32%) on August XNUMXst. Greco's arrival will coincide with the meeting of the company's board of directors in charge of examining the group's half-yearly accounts, which will be disclosed and presented to the financial community the following day. First, the company will hold board meetings on June 26 and July 6.
Among the mid caps, they go up Reno de Medici + 3% Gefran +2,5% and Prelios +2,7%. Down Telecom Italy Media -3,2%. Also declining Salvatore Ferragamo -2,58% and Mediaset -2,37%. Finally, sharp falls for Stm -2,97 while Nokia -7% collapses on the Helsinki stock exchange, reaching its lowest since 1996, after the announcement of a new cut plan and the revision of forecasts for the second quarter.
