It closed with a very positive result the auction of Ctz. All 2,25 billion securities maturing on 30 June 2015 were placed, at a yield of 1,392% against the 1,48% expressed last Friday by the secondary market. Compared to the previous auction, the yield fell by 23,1 basis points (1,623%). The 246-year Btp/bund spread is stationary at 4,22, with a yield of XNUMX%.
Slows Milano, after a positive start following the Tokyo rally. The FtseMib index now rises by 0,23%, to 18.918. London +0,06%, Paris -0,31%, Frankfurt +0,11%, Madrid -0,47%
La trust of Italian companies, in October, fell to 79,3 from 82,8 in September, after three consecutive increases. The trend in the index reflects the deterioration in business confidence in the retail trade and market services; there is an increase in the confidence of manufacturing and construction firms.
Today, data on industrial production for September (expected +0,4% on the previous month) and on sales of existing homes (expected +0,3%) will be released in America. The dollar is stable against the euro at 1,381.
At Piazza Affari, Fiat -3,46%. The automotive industry is under fire in Europe: as part of its review of its strategy on the European stock market, JP Morgan has decided to cut its rating on the sector to "neutral" from "overweight".
On the contrary, the US broker promoted the European utility sector. Enel is up 1%. A2A -0.96%%. The municipalities of Brescia and Milan, to abandon the dual council governance system and to place 5% of the capital. Brescia and Milan would each have to cede 2,5% of the company, the syndicated share in their hands would thus drop to 50% from 55%.
Vola Mediobanca (+3,49%) on the day ofassembly. Among the banks, MontePaschi rises +2,92%, in the wake of the interest of some large foreign institutional investors specialized in restructuring operations. According to a report published by Moody's, the asset quality test (the so-called AQR) would be negative for the weakest Italian banks. The research mentions Banca Carige, Banca Popolare di Milano, Credito Valtellinese, Banca Monte dei Paschi di Siena and Banco Popolare.
Pop Bank. Milan (-3,08%) suffers after the resignation of CEO Piero Montani. In reverse, Banca Carige (+5,74%) is rewarded by the arrival of the manager. There appointment of Montani it should be made official tomorrow, when a board of directors of the Ligurian institute is on the agenda. Giuseppe Castagna, former general manager of Intesa Sanpaolo should arrive at Bpm.
Unicredit -1,13%, Deutsche Bank cuts the judgment to "hold" from "buy". The target price remained at 5,6 euros. Understanding-0,67%.
Eni +0,34%. The Council of Ministers could meet on Tuesday 29 October and approve a decree law that makes the Advisory Committee on privatizations permanent. By the end of the year, the government intends to launch the program for the sale of public shareholdings and evaluates the sale of the approximately 4% stake directly held in Eni as one of the first operations.
Good on results day Saipem +1,61%. Among the titles highlighted by the reports published this morning:
- Ansaldo Sts +2,49%. Banca Akros has raised the recommendation from "hold" to "buy". The target price was raised from 7,1 to 9,55 euros.
- Rest +1,65%: MainFirst Bank starts hedging with an "outperform" recommendation and a target price of 8 euro.
- Telecom Italy: +0,6%, trying to rebound after -6% on Friday, pending the meeting between CEO Marco Patuano and premier Enrico Letta Ubs reiterates the negative "sell" recommendation and the target price of 0,34 EUR.
- TiMedia +7,47% after the news that Cairo Communication will pay 4,8 million more for La7 after the audit, in consideration of the greater equity of the television asset.
- Well Pierrel (+5%), thanks to the growth in the sale of the Orabloc dental anesthetic in North America
- L'Espresso +1,8%. Exane raised the target price by 60% to 1,2 euros. “Neutral” recommendation.
- Luxottica +3.41%, Ubs and Mediobanca cut their target.
- Generali +0,12%, Kepler Cheuvreux raised the target price to 18 euros with a "buy" recommendation.
- Fondiaria-Sai -0,81%. This morning, with the savings shareholders' meeting of Milano Assicurazioni, the procedure for the four-way merger between Unipol, Fondiaria Sai, Milano Assicurazioni and Premafin is closed. The CEO Carlo Cimbri underlined that the activities brought to Fondiaria Sai by the Ligrestis are not core and reaffirmed the desire to possibly reach a single category of shares for Unipol-Sai.
In luxury soars Brunello cucinelli, + 3%. Ferragamo +1,67%. Among the industrialists, StM + 0,45% Finmeccanica +0,72%. Finally, As Roma did well (+4,7%) on the day of the assembly after yet another victory in the championship.
