BANKS (EI BTPs) DRIVING MILAN. MPS +3%. DEBUT BULL FOR UNIPOLSAI. BRAKE REMOTE
The Milan stock exchange is the only one in positive ground on Epiphany day. The Ftse Mib index rises by 0,61% to 19228 despite the disappointing data from the economy: the PMI index of service companies rises in December to 47,9 from 47,2 in November, but is still very far from quota 50 points that separates the contraction from the expansion.
The spread moved little after falling below 200 basis points on Friday and is now fluctuating around this threshold. The spread between the ten-year Btp and the Bund is 202 basis points with a rate of return of 3,93%. The other European stock exchanges travel around parity: London -0,1, Frankfurt +0,12%, Paris +0,02%. The exception is Madrid +0,54%. Investors are eyeing just-released services sector data across countries after similar data from China that showed a sharp slowdown in growth.
It loses ground Telecom Italy -1,06%. This morning Telefonica reiterated through a note that it is not part of a vehicle for the potential launch of a joint offer on Tim Brazil and that I have no information on such an operation.
Conversely, the best blue chip is UnipolYou know: the share makes its debut on the list today with an increase of 3,2% to 2,5220. UnipolSai is the group born from the merger by incorporation of Unipol Assicurazioni, Milano Assicurazioni and Premafin into Fondiaria-Sai.
Also prominently featured Mount Paschi +3% in view of possible developments on the stake held by the Foundation. The positive effect of BTPs on bank stocks continues: Unicredit is up 2,58%, Understanding 0,94%. Mediobanca salt by 2,98%.
Banca Popolare Milano +1,02%. The Giuseppe Castagna hypothesis for the position of CEO is strengthened, even if for the official appointment it will be necessary to wait until January 14, when the CDS that will choose from the proposals of the nomination committee should be held. Eni +0,69% on the day the buy-back program of up to 10% linked to the sale of the 4,3% held by the Treasury got underway.
Fiat +0,15%, partly held back by the hypothesis of an issue of a 1-2 billion euro convertible bond to finance the Chrysler operation.
