BTP AUCTION, THE TREASURE FULLS UP. THE BAG DOESN'T EXALT
THE ARM OF IRON WEIGHTS ON THE "FISCAL CLIFF" ON THE LISTS
The Treasury closes with a flourish auction week: BTPs placed for a total of 4,2 billion euro, equal to the entire programmed amount. In particular, 3,49 billion of the new three-year BTP were placed at a yield of 2,50%, down from 2,64% in the previous auction in mid-November. Added to these are 729 million 15-year BTPs with a yield down to 4,75% from 5,32% at the last auction in mid-September.
On the secondary market, the 10-year BTP is traded at a yield of 4,61% with a spread of 330, almost unchanged compared to yesterday.
But the peace of mind on the debt front does not infect the equity markets, which it hangs over the tug of war of the US fiscal cliff. In Piazza Affari, the Ftse Mib index reports a modest increase of +0,13% to 15784. London -0,25%, Paris -0,08% and Frankfurt -0,35% are negative.
In Europe all sector indices are down except for banks (+0,2%), after eurozone finance ministers reached an agreement tonight in Brussels to place the top 150 European banks under the single supervision of the ECB, operational from 1 March 2014
Among the Italian banks, Pop.Milano shines +4,32%. MontePaschi +0,15%, Unicredit +0,23%, Intesa +0,63%. Pop. Emilia +2,9%.
Among industrial stocks, Finmeccanica gains 0,94% after the Indian authorities ruled out that there was corruption in the tender with Finmeccanica, it secured an order for 12 helicopters in New Delhi.
Fiat climbs 1,22%, weak StM-0,86%.
Enel rises by 0,33%, Enel Green Power advanced by 0,45%, A2A +0,94%. Eni drops by 0,11%, Saipem drops again -0,64%.
Telecom Italia drops by 0,21%.
Autogrill gains 0,1% after Credit Suisse raised the target price to 10,2 euros.
