In Matteo Renzi's day-after, since yesterday new secretary of the Pd, Business Square it swings around parity. In the same minutes London is flat, while Frankfurt earns 0,3% and Paris yields 0,2%. spread Btp-Bund down slightly, at 233 basis points. L'euro it returns to 1,37 dollars, up from the exchange rate of 1,369 recorded at the end of the last session. The Petroleum recovers 23 cents and settles at 97,88 dollars a barrel.
The markets benefit from both the Tokyo leap (+2,29%), both fromChinese trade surplus, which in November rose beyond expectations (33,80 billion dollars), above all thanks to exports to the United States. Good directions also from France, where the central bank raised its growth estimates for the fourth quarter of 2013 from +0,4 to +0,5%. There Germany, however, in October saw its trade surplus shrink on a monthly basis to 16,8 billion euros.
The attention of the markets is now focused on the meeting of theEurogroup, scheduled for the afternoon in Brussels to take stock of the banking union in view of tomorrow's Ecofin. Ministers will discuss how to deal with the cases of troubled banks.
On the Ftse Mib it stands out the rebound of Mps, which achieved the best increase on the list (+4,3%), after closing last week with an overall decrease of 12,7%, bringing up the rear in Piazza Affari. The Monte Paschi Foundation has thrown down its gauntlet to Banca Mps, announcing that it will vote in favor of the 3 billion capital increase only if the subscription period starts “no earlier than 12 May. If the proposal to carry out the increase in the first quarter of 2014 is maintained, the vote will be against”, warned the new president, Antonella Mansi. On the contrary, the Bank's management is in a hurry to launch the increase in January both because the advisors have identified the most favorable window in the beginning of the year and because the pre-underwriting commitment for all 3 billion by the consortium expires at the end of January.
Also shop on Banco Popolare (+ 1,4%), Ansaldo (+ 1,8%), A2A (+ 2,2%), Ubi e Fonsai (both +2%). Among the most penalized stocks, however, Mediaset (-2,13%), Parmalat (-1,20%) And Cnh (-1,5%). Save dropped 3,8% after the maxi-dividend detachment, while Roma (+8%) celebrated their return to victory in the league and second place in the standings.
According to the latest data published by the Bank of Italy, in October loans to the private sector of credit institutions recorded an annual contraction of 3,7% (-3,5% in September), while the growth rate of non-performing loans remained stable at 22,9%.
bpm +1,26% on the day when Piero Giarda inaugurates his electoral road show for the presidency of the supervisory board. Among other banks, Unicredit +0,3% and Intesa Sanpaolo + 0,24%.
Telecom Italy gains 2% after proxy advisor Glass Lewis also recommended the vote in favor of the proposed dismissal of the board of directors, believing that the current board is unable to take initiatives that create value, especially if they conflict with the interests of Telefonica.
Fiat up 0,74%. According to Bloomberg, Lingotto will invest up to 9 billion in Europe by 2016. The plan will be presented with the results for the first quarter of 2014, but for now no numbers or indications on the models have been provided. Again according to the American agency, the Punto will be replaced by the five-door Fiat 500 produced in Poland.
As for the foreign price lists, in Paris the best is Gdf Suez (+17%), while EADS gains 0,6% after the news that the restructuring plan will lead to fewer redundancies than expected (up to 6 compared to the 8 expected). Utilities also show great strength in Frankfurt, where Rwe and Eon both recover 1,3%, while in London purchases are concentrated on Aviva (+3%) and raw materials lose ground with Fresnillo (-1,2%) and Rio Tinto (-0,9%).
