ENEL AND ANSALDO BUILD A DAM IN PIAZZA AFFARI
BUT FINMECCANICA AND TELECOM ARE GOING UNDER
All European stock markets fell following the European Central Bank's rate cut.
It weighs the France's downgrading by S&P.
London -0,37%, Frankfurt -0,56%, Madrid -0,27%, Zurich -0,3%. Paris fell 0,77%..
It's an exception Piazza Affari +0,06% FTSE MIB index at 18874 after yesterday's sharp decline of -2,07%.
The euro is little changed at 1,3418 from 1,342 last night.
Lo BTP-Bund spread It rose to 246 points with a rate of 4,15%. Yesterday it closed at 242 points.
This afternoon in the US the most eagerly awaited data, the one on October employment, was released.
What is shaking up the market is Enel +2,94%This morning, UBS raised its price target on the stock to 3,7 euros from 3,2 euros, confirming its "Buy" rating. Equita writes that "Enel is significantly ahead of its debt reduction targets and in line with its operating performance. The outlook appears to be improving."
Enel Green Power +2%.
Ansaldo Sts also contributes to supporting Piazza Affari +2,6%.
On the contrary, massive losses for the parent company Finmeccanica, which fell 6,08% after the profit warning. The company warned that it expects a 5-10% reduction in its 2013 EBITDA target excluding the energy sector. The third quarter closed with a net loss of €73 million, compared to a profit of €74 million in the same period of 2012; it expects a net profit for 2013.
Finmeccanica is seeking market solutions to sell its transportation companies, Ansaldo STS and Ansaldo Breda, whether merged or divided, and has indicated it would prefer to hold a sort of auction with several buyers rather than negotiate with a single one. This is what CEO Alessandro Pansa said during a conference call with analysts on the third-quarter results. The conference is also highlighting the issue of Breda, which management accuses of being primarily responsible for the poor third-quarter results.
Sudden fall also for Telecom Italy Down 5,35% as CEO Marco Patuano held a press conference. Last night, the company announced a capital strengthening plan of approximately €4 billion, which includes the sale of Telecom Argentina, its towers, and multiplexes, and a €1,3 billion convertible bond, which has already been placed. The third quarter ended with a decline in EBITDA.
Among banks Banca Popolare di Milano is rising by 1,23%. A singular alliance between its employee shareholders and financier Raffaele Mincione seems to be emerging, which could lead to the candidacy of Lamberto Dini.
Unicredit +0,47% on the day of the presentation of the data of the Polish subsidiary Pekao.
Banco Popolare rose 1,85%. Keefe Bruyette & Wood's raised its rating to "Outperform" from "Underperform."
Pirelli shares are also up today, gaining 1,53%.
The other industrialists opposed: Fiat loses 0,44%. CNH Industrial loses 0,48%. Bank of America initiated coverage with an “underperform” rating. STM -1%.
A2A +0,06%. Kepler Cheuvreux cut its rating after the strong performance.
Eni It is little moved at -0,06%, Tenaris is down 1,92% following the rejection of some brokers.
In the rest of the price list, it is worth noting the sharp fall of Moleskine -5,7%. The group behind the eponymous brand closed the first nine months of the year with growing revenues, but declining profits.
Maire Tecnimont, on the other hand, is on the rise +4%.
