BANKS FLY THEN THEN BRAKE. MILAN +0,7%
THE DRAGON CURE DOESN'T SHORTEN THE SPREAD: 479 BP
La ECB has placed €489,1 billion in three-year repurchase agreements at a rate of 1%. There are 523 banks that have requested access to loans. Waiting for the Italian data, just now home institutions they communicated that they have issued bonds with state guarantee for a total of 38,4 billion euros.
After the initial enthusiasm, the Milan Stock Exchange partially retraced shortly after. The index FtseMib now marks a decline in the 0,34% to 14.913, shortly before it had risen to over 2%. The other European stock exchanges also reduce the increases: Paris e Frankfurt are up 0,75%, Madrid + 0,5% London +0,52%. The reaction of the bond market is surprising: the yield of 10-year BTPs rise by 12 basis points to 6,6%, the spread with Germany widens to 479 basis points from 465 last night. The euro-dollar cross is pegged at 1,3095, up from yesterday's 1,308 but down from the week's highs reached a little while ago (1,317).
In detail, here are the requests from Italian banks: Intesa Sanpaolo has issued a bond for 12 billion, Monte Paschi for 10, Unicredit for 7,5 billion euros. Followed by: Banco Popolare 3 billion, Popolare Vicenza 1,5 billion, Carige 1,3 billion, Popolare Emilia-Romagna for 750 million, Creval 500 million, Credem 800 million, Popolare Sondrio 1 billion, Banca Etruria for 100 million, Iccrea for 290 million, Iccrea Banca Impresa 650 million, Dexia Crediop 1,05 billion.
In Piazza Affari the banks turn downwards after a strong leap forward: Mediobanca -0,2% Unicredit -1,3% MontePaschi -0,7%. Alone Understanding holds and rises by 4%.
The assurances remain positive: Generali earns 2%, Unipol +0,6%. Among industrial stocks, it goes up StM +1,5%, but car shares are down: Fiat -1% Pirelli -0,7%. Also declining Prysmian -2%. Beni Stabili earns 7% after an agreement with the tax authorities. Positive Terni Energy +1,8% and Landi renzo + 4%.
