Rates up and demand down for today's XNUMX-Year Treasury BOT auction which in any case managed to place all the 5,5 billion euros in the programme. The yield climbed to 0,707% from 0,688% last month, while demand settled at 1,63 times the amount offered, down from 1,80 previously. An outcome which does not help Piazza Affari which moves uncertainly in the middle of the session under parity (-0,18%) even if the spread dropped yesterday to its lowest level since July 2011 and was not particularly affected and remains at 221 basis points after the auction. On the other hand, the other European markets are moving in positive territory: London +0,14%, Paris +0,59%, Frankfurt +0,12%.
Markets are eyeing Fed moves on Dec. 17-18 and tapering which is approaching after the agreement on the US budget was found yesterday, the uncertainty of which was one of the reasons for the postponement of the tapering.
While in the US it is federal agencies have approved the volcker rule, in Europe Ecofin has found a halfway agreement on the banking union, a framework of understanding that will be detailed at next Wednesday's meeting. Meanwhile on the Imu and the revaluation of Bankitalia quotas, the Bureau of the Senate Finance Commission has finalized the calendar of hearings on the Legislative Decree: on Thursday at 14 pm the Governor of the Via Nazionale Institute, Ignazio Visco, will be heard, and at 16 pm the president of Abi, Antonio Patuelli; On Friday at 14 pm the Minister of the Economy, Fabrizio Saccomanni. Ania and Anci will also be heard.
Mediolanum leads the declines in Piazza Affari -4,9% after the sale of 5,6% by Fininvest at 6,12 euros per share. Among the worst also Pirelli -1,6% and A2A -1,2%, Mps -1,3%. Eni -0,83% after the downgrade by Deutsche Bank and a buy hold.
Cir salt of 0,99%. The group confirmed that it had filed a civil lawsuit against Fininvest with the Court of Milan for non-pecuniary damages suffered in the Lodo Mondadori affair. Mediaset rises by 1,6%. On the publishing sector front, according to Nielsen data, there is still no recovery in advertising sales. The data on investments in advertising for the month of October recorded a contraction of 7,7% in Italy compared to the same month of 2012.
Highlights on the Ftse Mib Ferragamo +1,66%, Mediaset +1,6%, Autogrill +1,35%, Banco Popolare +1,15%., Wdf +1%.
