THE UNIPOL GROUP RISES UP, TELECOM IS STILL GOING DOWN
S&P PROMOTES SPAIN. 20 POINTS BETWEEN BONOS AND BTP
Few moves proceed European squares. Market sentiment is one of caution with a good deal of apprehension ahead of Sunday's European elections. In Piazza Affari, the FtseMib index is up, +0,55% to 20484.
Modest variations on the other exchanges of Old World. London (closed on Monday for the Bank Holiday) slips by 0,27%, Paris +0,08%, Frankfurt +0,27%.
Madrid climbed 0,17% on Standard & Poor's rating which raised Spain's rating to BBB from BBB-.
Fitch meanwhile promoted Greece to B from B-.
Il Spanish decennial falls below 3% to 2,97%. The yield of BTPs also improved to 3,17%, without however reducing the gap from Madrid.
In Piazza Affari, UnipolSai recovers + 3,08% from yesterday's 3,8% loss, triggered by the news of the investigations by the Milan judiciary into alleged irregularities in the merger between Fondiaria-Sai and Unipol. The analysts' opinion is that the investigation will not lead to a change in the exchange ratios.
Generals +0,95%.
Among the banks, MontePaschi stands out +2,82%, promoted by HSBC.
Entente +1,06%: the bank, said the CEO Carlo Messina, is confident of being able to complete the sale of the Ukrainian subsidiary Pravex-Bank within this year.
Featured today Pop Bank. Milan +2,33%: the 500 million euro capital increase ends today. The CEO Giuseppe Castagna said that the operation has had a more than positive response from retail investors through the bank's network. On the industry front, Fiat holds +1,1%: Exor, the holding company of the Agnelli family, is ready to do its part if Fiat-Chrysler (Fca) were to launch a capital increase, which however is currently not foreseen in floor. The president of both companies, John Elkann, said so yesterday.
Among the Big, he recovers Enel +0,45%.
Eni -0,05%. The CEO Claudio Descalzi, has signed with the CEO. of Gazprom, Alexey Miller, an agreement on the revision of gas supply contracts. The agreement - reads a note - provides for a reduction in the prices of supplies and an important change in the indexing methods, ensuring full alignment with the market. Furthermore, in 2014 Eni's ability to recover prepaid gas within the 'take or pay' clauses will be significantly increased.
Telecom Italia's descent continues -1,63% now in its seventh consecutive decline. The company, which nonetheless boasts a 13% gain in 2014 (the sector index unchanged) is starting a reshuffle in the shareholder structure, given that in June Telco shareholders have the opportunity to exit the pact that binds them within the financial company which, with 22,3% of the capital, is the first shareholder of Telecom Italia. The president of Generali, Gabriele Galateri, confirmed today that the insurance group will use the June window to exit the shareholders' agreement. The same will most likely be done by the other two financial shareholders, Mediobanca (7,3% of Telco) and Intesa (7,3% of Telco).
Gtech +0,8%, has extended for two years, starting from next June 28, the contract with the West Virginia Lottery for the supply of self-service products and the management of existing terminals.
Finmeccanica recovers +1,586 after -3,4% yesterday. StM +0,3%.
The analysts' reports include: Enel Green Power -0,5%: Morgan Stanley has started hedging with an Equal Weight recommendation and a target price of 2,0 euros.
Italcementi +1,5%: Exane has lowered the target price by 5% to 10 euros. The recommendation is Outperform Atlantia +0,05%. Jp Morgan raised the target price to 23 euros from 21 euros, confirming the positive opinion Overweight.
Among the other stocks, D'Amico International Shipping stands out, a leading company in tanker shipping on an international scale, extending yesterday's rally (+2,2%) with a gain of 1,8% to 0,566 euros. The company has announced the launch of two new modern 'ECO' vessels at the Hyundai Vinashin Shipyard (Vietnam).
