FIAT AND MEDIOBANCA UNDER FIRE, SAIPEM REBOUNDS
GERMAN CONSUMPTION FROZEN PRICE LISTS, SPREAD TO 267
Business Square tries to recover, after yesterday's nightmare session, but the climate of the European stock exchanges worsens after the cold shower of the data which shows the fall in consumption in Germany. London drops by 0,51%, Paris -0,71%, Frankfurt -0,58%.
In the last month of December the retail sales in Germany they fell 4,7% on the same month in 2011. Analysts were expecting an average decline of 1,5%.
In Milan the index FtseMib drops by 1,01% to 17114, weighed down by sales on banking. They run down Unicredit -1,17% Intesa Sanpaolo -2,27% Mediobanca -3,04% bpm -1,73% Ubi -2,22%.
Ps it goes up by 0,45%.
Ettore Gotti Tedeschi, former representative of Banco de Santander in Italy, is heard in the Prosecutor's Office in Siena. In the meantime, the Lazio Regional Administrative Court has summoned the general manager of the Bank of Italy on Saturday 2 February Fabrizio Saccomanni, and the Head of Supervision, Luigi Signorini (or one of their delegates) to acquire "documented clarifications" regarding the go-ahead for via Nazionale for Monti-Bond for Mps. The Court thus accepted a request presented by Codacons.
Salt on difference between Btp and Bund which touches the threshold of 267 points. The yield is equal to 4,33%.
Shooting tests for Saipem +3,15% to 20,64 euros, favored by the ban on short selling decided by Consob.
Broker cuts are still flooding in light of the profit warning: JP Morgan it lowered the target to 26,2 euros from 38,9 euros, confirming the neutral opinion; HSBC lowered the target price to 26 euros from 43 euros, confirmed the overweight opinion; Goldman Sachs lowered the aneutral buy recommendation; Ubs cut the target price to 22 euros from 37 euros, confirming the neutral opinion.
After a successful start, Eni has zeroed the gains and is in parity.
Fiat -3,59% to 4,29 euros and is the worst blue chip this morning. After the quarterly data, Bofa (Merrill Lynch) confirmed the "underperform" opinion, leaving the target price at 2,45 euros (almost half of the current price) because he judged the prospects for 2013 disappointing and cited the adjustments for the different accounting practice on Chrysler's pension costs.
The revenues of Fiat Industrial -2,43% amounted to 2012 billion euro in 25,8, an increase of 6,2% compared to 2011: the continued strong growth of the agricultural machinery business – explains Lingotto – more than compensated weaker market conditions than other businesses. Unlike Fiat Auto, the company will pay a dividend: 275 million, higher than last year when it was around 240 million euros. The shareholders will receive a coupon of 0,225 euro per ordinary share.
Back off stm -0,98% after the announcement of a fourth quarter in the red with a loss of 428 million dollars and the hypothesis of the need for financing in 2013 between 300 and 500 million dollars. The CEO Carlo Bozotti, during the presentation of the results in Paris, said that the conditions of the semiconductor market "should improve in 2013", thanks to the positive evolution of the economic context, and STMicroelectronics expects to "do better than the market", thanks to the segments imaging, microcontrollers, analog and MEMS. This was stated by the managing director, Carlo Bozotti, during a meeting with the press. In terms of revenues, however, the Italian-French group expects figures to fall by 7% for the first quarter (including wireless), mainly due to a "very important sequential decline in net sales" expected for St Ericsson. Among the factors worrying the group, Bozotti said, in addition to the solidity of the signs of recovery, there is the "divergence in monetary policies" between the most important countries for its activities, and in particular between the United States and Japan.
Mediaset it is heavily down for the second consecutive day: -3,3% to 1,86 euros after -4,4% yesterday. The stock of the media company falls back to the levels of two weeks ago after a couple of months on the rise: from the lows of November the stock has risen by 60%.
Among mid-caps, sizeable losses per Maire Tecnimont -4,2%, Rcs-4,5% and Italcementi-2,5%
