Monday morning in the spotlight for Piazza Affari thanks to Moncler e Telecom Italy. The Ftse Mib rose by 0,9%, driven by the share of the telecommunications companies, which rose by more than 4% after Blackrock announced that it held a stake of 7,783% of Telecom Italia shares with voting rights plus a 0,006% of Adr for a total of 7,789%. The fund therefore specifies that it has not exceeded the relevant threshold of 10% as the remainder is linked to the convertible. This is how the asset management giant answered Consob's questions before the opening of negotiations.
In parallel, Telecom said it had not received from Blackrock communications relating to the increase in the share, communicated by the fund to the SEC. The notification to the SEC (but not to Consob) had revealed that the US fund had doubled, on November 29, the its shareholding in Telecom, thus consolidating its position as the second largest shareholder behind Telco with a stake of more than 10%. In reality, explains the note from the US company, this figure also includes the investment in the convertible, which must be taken into account in the US legislation (and, it seems, not in the Italian one). Now the eyes of the market are looking at the shareholders' meeting of Friday.
Behind Telecom on the Ftse Mib also Banco Popolare (+1,81%), Cnh (+1,79%), Unicredit (+1,69%), Bpm (+1,41%) which is preparing for the Saturday's meeting for the renewal of the bank's bodies. Mps is also in the light (+1,39%), while the Treasury is trying to figure out how to defuse the mine of the top management-Foundation clash within the meeting of 27 on the capital increase.
On the rest of the list the attention is on Moncler, which does not disappoint expectations and at the start of negotiations leaps from a theoretical 40% to 14,65%. After an IPO that gathered demand 27 times the offer, the down jacket group is unable to make its debut on the MTA already at the highest price of the fork, 10,2 euros.
“The most beautiful names in Italian fashion are our partners,” commented number one Remo Ruffini, on the sidelines of the Moncler listing ceremony. Ruffini explained that the distribution of the shares was carried out by the banks but "distributing the shares all over the world: a third went to European investors, a third to Asian investors and a third to US investors".
According to sources close to the Moncler placement operation, the shares were subscribed by the Ferragamo family, the Zegna family, the Loro Piana family, Renzo Rosso, owner of Diesel and also the Frenchman Bernard Arnault, the number one of the global fashion giant LVMH. All the sovereign wealth funds in the world were then awarded Moncler shares: from the fund of China to that of Singapore, up to the fund of Abu Dhabi and Qatar.
Also up for Monday morning the other European Stock Exchanges waiting to understand what the Fed will decide at its meeting on December 17-18: Paris +0,48%, Frankfurt +0,5%, London +0,24%. In the Eurozone the PMI manufacturing index it rose to 52,1, according to Eurostat data released this morning, beating expectations firm at 51,8 points. Also on Wednesday in Brussels, finance ministers will try to reach an agreement on the resolution system, the most delicate issue of the banking union.
Tokyo closed down 1,63% ahead of the Fed despite Japan's Tankan business confidence index rising 16 points in December, to its highest level in six years since December 2007. In Italy, it said Istat, the trade balance recorded a surplus of 4,070 billion in October and 23,712 billion in ten months: exports rose by 0,8% over the year and fell by 0,5% over the month, while imports fell 4,3% year and 2,6% month.
At the bottom of the Ftse Mib are Wdf -1,6%, Autogrill -1,35%, Stm -1,21%, Pirelli -0,81%, Mediolanum -0,5%. Yoox moved slightly -0,07 on the day of his arrival on the FtseMib.
