THE BTP AUCTION IS WELL, ONLY PRYSMIAN SHINES
The euro loses momentum, the spread widens.
Piazza Affari moves back. The Milan Stock Exchange loses 1,03% in line with Madrid: the Ftse Mib index at 20.582.Frankfurt -0,28%, Paris -0,49% and London -0,21% also fell.
The euro depreciates against the dollar for the fifth consecutive day, the exchange rate is 1,267 from 1,268 at the close, the lowest in the last two years.
Inflation in Germany for September is published at 14pm, a figure that could be taken into account at next Thursday's ECB meeting. Preliminary data on consumer prices in the main Laender are in line with expectations: in Bavaria they rose 0,8% year on year.
Positive result for the Btp auction, but the spread rises: the ten-year bond is traded at a yield of 2,44%, from 2,38% on Friday, the differential with the Bund rises to 146 basis points, on the highs of the last three weeks.
New all-time low for the five-year BTP at auction: the gross yield fell by 4 basis points compared to the previous auction, settling at 1,06%. On the other hand, the yield on the ten-year BTP rose slightly: the third tranche of the bond maturing on 01/12/2024 was placed with a gross rate of 2,45% (+6 basis points). The new Ccteu expiring on 15/12/2020 achieved a yield of 1,08%, down by 8 basis points on the previous auction.
Among the stocks in the main basket it only shines Prysmian + 3%. During the presentation organized today by JP Morgan, the cable company confirmed its 2014 targets.
In Piazza Affari, on the other hand, the banks are weak, especially the popular ones: Banking Pop.Milan loses 2,4%, Pop.Emilia -2,3% Banco Popular -2,4% Where's Banca -1,8%.
Among the Bigs, Understanding -1,9% Unicredit-1,3%MontePaschi -1,3%.
Fiat loses 0,2%,Finmeccanica -0,3%StM + 0,8 %
Eni -0,2% holds positions slips Tenaris -0,9%.
Enel -1,4% on the wave of the approaching sale of a 4-5% package within the "privatization" project. The other utilities are also weak: A2A -1,6% Atlantia -0,1%.
It also moves back Telecom Italy -1,5%n after the postponement of the sale of Telecom Argentina.
Yoox loses 0,1%, Ferragamo -2,5% Luxottica[ -1,1%%.
Among the small caps, Stable Goods loses 3% on the first day of the 150 million euro capital increase.
SocGen reduced the target price from 0,80 to 0,75 (rating buy).
The increase in Igd is also on the way: the share shouldered -3,53%. This morning SocGen cut the rating from buy to sell, target price from 1,20 to 0,90 euro.
Sogefi -3%
