THE SPANISH AUCTION WELL, BUT THE BAGS ARE HOLDING DOWN
MILAN POPULAR SHOULDER STRAP. DOWN SNAM -4,8%
European stock exchanges contrasted: with Frankfurt -0,09% just below parity, London -0,57% on parity while Paris lost 1,01%.
Milano it lost 1,17%, the Ftse/Mib index at 17.054.
Investors are taking a breather after new highs set yesterday in Europe and America.
On the market for government bonds the situation is calm: the 10-year BTP is traded at a yield of 3,88%, with a spread of 262 (+5).
At the end of March, the amount of government bonds held by Italian banks set a new record.
According to the data contained in the supplement to the statistical bulletin of Bankitalia, credit institutions resident in Italy had 362,912 billion euros of national government bonds in their portfolios (351 billion in February), up by almost 25% compared to March 2012.
Good news from Spain. Madrid made the most of the good moment to place something more (4,574 billion to be precise) than the 4,5 billion planned bonds: 1,863 billion 2016 bonds at a rate of 2,247% (from 2,792%), another 1,549 billion due 2018 with rates at 2,789% (from 3,257%) and another 1,162 billion maturing in 2016 at 4,336% (from 5,555%).
The Exchange of Madrid drops by 0,61%.
THEeuro it is unchanged at 1,315 against the dollar.
THE Eni -0,38% closed the placement of 11,69% of Snam -4,89% collecting 1,458 billion. The offer, carried out through accelerated bookbuilding aimed at qualified Italian and foreign institutional investors, closed at a final price of 3,69 euros per share. Eni now holds only 8,54% of Snam to service the convertible bond of 1,25 billion maturing on 18 January 2016.
Among banks the Banca Pop.Milano shoulder -8,42% after the rumors about the possible stop to the transformation process into a Spa.
The other banks are also down: Unicredit down 1,97%, Understanding -1,15%, heavy Mediobanca which falls by 2,41%, Popular Bank loses 2,26%, MontePaschi -1,98%.
Among the few positive titles Lottomatica +1,17% and Fondiaria-Sai +1,48% after the good results.
Telecom Italy gains 0,24% while the conference call is in progress.
Generali it falls by 0,42% on the day of the quarterly results.
All industrial stocks down: Fiat -1,33% Finmeccanica -0,27%,StM -1,4%.
Enel down 1,48%-
