WEAK STOCKS WAITING FOR YELLEN
HIGHLIGHTS BUZZI, AMONG THE BANKS ON MPS
Weak morning for European stock exchanges awaiting indications from the Fed on the next stages of tapering. Janet Yellen, president of the Fed, will hold his first congressional hearing in Washington tomorrow.
Piazza Affari is declining: -0,47% Ftse/Mib index at 19.600.
Unchanged London + 0,1% Frankfurt -0,13% Madrid -0,96%. It's an exception Paris + 0,13%.
The BTP/Bund spread is stable. The differential between the two ten-year bonds stood at 202,6 basis points, compared to 203 at last Friday's close. The BTP yield is 3,688%. The differential between Spanish and German bonds is at 191,4 basis points with a Bonos yield of 3,575%.
Gold progresses to 1.273 dollars/ounce: the yellow metal has three consecutive rises behind it.
In December the bad debts of Italian banks increased by 24,6% per year, a rate higher than November's 22,7%. The supplement to the Bank of Italy's statistical bulletin “Money and Banks” indicates that in December the portfolio of government bonds held by Italian banks fell sharply compared to November.
Sale Mount Paschi +1,66%. Down Unicredit -0,88% Understanding -0,95%.
After an upward start it slows down Ubi – 0,26%%: the CEO Victor Massiah declared that the institute does not need capital increases in view of the Asset quality review and stress tests as it can already count on a Common equity Tier 1 above 10%.
Banca Pop.Milano -1,1%, aims to launch the 500 million euro capital increase by April 30, the date on which the guarantee consortium expires. The CEO said it. Giuseppe Castagna.
Vola Buzzi +4,97%, promoted by Mediobanca to Outperform from Neutral.
Italcementi +1%, Mediobanca raised the target price to 7,2 euros from 5,5 euros. Neutral recommendation confirmed. Cementir +0,6%: Mediobanca raised the target price to 5,2 euros from 4,5 euros. Confirmed Outperfom.
It's raining, like every Monday, analysts' updates: Rest +0,44%: Bank of America raised the target price to 8 euros (+14%). Confirmed Buy.
Saipem +1,09%: Berenberg raised the target price to 18,1 euros from 14,2 euros. Hold confirmed. Eni -0,2%: Société Générale lowered the target price to 16 from 18 euros. Hold confirmed.
Well set up Mediaset on which there are rumors of possible partners for the vehicle under study which should gather the broadcaster's pay activities in Italy and Spain.
Weak after last week's jump Enel -1,18% and the subsidiary Enel Green Power -0,81%.
It also goes down Telecom Italy -1,68% is decreasing.
Among industrialists, Finmeccanica -0,38% and StM +1,49% advance.
Slightly declining Fiat -1,1%. Chrysler Group has announced financing operations for a total of 5 billion dollars to repay in advance the sum owed to Veba Trust under the senior unsecured bond issued in 2009. A note from Fiat-Chrysler underlining that the cost savings for s' interest equal to approximately 134 million per year, for the period from 2014 to 2016.
In luxury: Ferragamo + 1,83% cucinelli +1,6%, Yoox -0,84%.
Surrenders 2,3% Recovery after the company that acquired the former Falck area of Sesto San Giovanni in 2010 presented an appeal for seizure of up to 228 million euros.
