PROJECTS ON THE BANKS IN PIAZZA AFFARI
FIAT IN DOWN, ONLY TIMEDIA FLYS
Piazza Affari continues to decline with the banks after the ban on short selling on financials by Consob was concluded on Friday.
The news from China also cooled the enthusiasm: the Xinhua news agency wrote that the Beijing government could become more prudent in its monetary policy, for fear that the new US Quantitative Easing accentuates the dangers of inflation in China. Furthermore, Citigroup has revised downwards the growth estimates of the Chinese GDP for 2013, now forecast at +7,6% from the previous +8%.
The benchmark index Ftse Mib loses 1,01% at 16.448 points. Paris -0,61%, Frankfurt -0,23%, Madrid -0,76% and London -0,3% also fell.
Backtrack of the euro which falls to 1,309 against the dollar, from 1,313 at Friday's close. Oil was stable: WTI was traded at 98,8 dollars a barrel (-0,1%), Brent at 116,6 dollars (unchanged).
The 10-year BTP also falls, with the yield rising to 5,04% (from 4,99% on Friday), spread widening to 336 (+7 basis points).
The stocks with the greatest decline in Europe are telecommunications (Stoxx of the sector -0,7%) and utilities (-0,4%). Realizations in Milan on the banks on which, as already mentioned, it is possible to operate uncovered starting this morning.
Among the Milanese blue chips, MontePaschi drops by 2,96%, Ubi -1,3%, Intesa -2%, Unicredit -1,1%. Only Mediobanca is positive +1,12%.
Insurance companies mixed: Generali falls by 1,65%, but Fondiaria-Sai runs up by 6% after the news that the banks of the guarantee consortium have placed all the shares deriving from the unexercised rights with Italian and foreign investors. The subsidiary Milano Assicurazioni rises by 3,1%, Unipol +1,1%.
Among industrial stocks, Fiat fell by 1,49%, Fiat Industrial advanced by 0,93%. Pirelli retreats by 1%.
Positive Finmeccanica which rises by 1,10%, Ansaldo +2,34%.
Telecom Italia down -1,3%. Strong rise of Telecom Italia Media +11,82% after the indiscretions of the list of subjects interested in the La7 TV network.
Mediaset, on the other hand, dropped by 2,31%.
Enel drops by 1,12% (on a par with Eni) despite Bank of America-Merrill Lynch raising its rating from neutral to buy.
