BANKS HOLDING THE HOLD AGAINST STRESS TESTS
STM LANDSLIDE - 7%, G TECH AND CAMPARI ARE SAVED
After nine consecutive upward sessions le European stock exchanges are taking a breather in the wake of the Asian price correction.
In Milan the FtseMib it drops 1,41%, but remains firmly above the 19 mark (19.099 points).
London falls 0,45%, Paris – 0,77%, Frankfurt -0,41%. Madrid loses 1,96%, unnerved by others bank strees tests by the ECB.
The dollar, up from yesterday's lows of 1,375 from 1,377.
StMicroelectronics plummets among the Milanese blue chips to -6,97% after the third quarter accounts and the postponement of the achievement of the operating margin target to 10% to mid-2015. The CEO Carlo Bozotti declared that the times for reaching the target "will largely depend on the revenue level. Based on current visibility and taking into account market conditions, our forecast at this time is to be able to achieve this operating margin in mid-2015, approximately six months later than originally forecast”. Kepler Cheuvreux cut the judgment to hold from buy.
Among the industrialists Finmeccanica -2,59% Fiat -1,8%. Indesit -2,6%.
Pirelli -0,4% after yesterday's good performance +4,6%. Bank of America confirmed the buy judgment and the target price of 11,8 euro.
Sogefi +6%, announced positive third quarter results. Kepler Cheuvreux confirms the buy judgment and raises the target price to 4,9 euros from 3,8 euros.
The banks are heavy after the ECB announced the start in November of the assessment of assets for European banks, 15 of which are in Italy. Unicredit -2,15%, Intesa -2,5%, Banco Popolare -2,86%, Monte Paschi -3.31%, Pop. Milan -3,42%.
Among the insurance companies, Generali -1,4%, Fondiaria-Sai -2,62%. Unipol loses 3,5%.
Sales also on asset managers: Banca Generali -1,4%, Azimut -1%.
Another month marked by positive inflows, the ninth consecutive, for the sector managed savings which, however, records a new slowdown in flows. In fact, in September total deposits stood at 3,1 billion after 5,4 billion in August and 6,3 billion in July, bringing the cumulative figure for the first 9 months to 55,6 billion. Assets update the new record to 1.283,6 billion (1.270 billion the previous month).
I'm down Eni -0,95% ed Enel -1,5%.
In luxury Tod's -0,31%, Ferragamo -1%, Yoox +0,3%.
Among the few titles that go against the trend there are GTech + 1,14% Campari + 0,61%.
Limit damages Telecom Italia -0,41%. the landline spin-off project is frozen and the November 7 board could take note of it or announce that the idea has been abandoned. The Cassa Depositi e Prestiti is keeping the door open to an investment in the operator's fixed network but the decision rests first and foremost with the company, declared the CEO. Giovanni Gorno Tempini.
In the small caps sector they stand out Hey Towers +3% and Bioera +4% benefiting from the news that the subsidiary Ki Group, active in the field of organic food, is preparing to land on the Aim on November 18th.
