FIAT AND PIRELLI, THE AUTOMOTIVE GET INTO SIXTH
STOCK MARKS FLAT AWAIT US JOBS DATA
Le Bags they set the alarm for 14 pm Continental European time. Then, in fact, the data on the trend of the American labor market in September will be released overseas, the first significant test on the state of health of Corporate America after the blackout caused by the 16-day closure of public offices.
While waiting there Milan Stock Exchange is almost unchanged: FtseMib index +0,15% at 19.291.
Similar the script on other squares: London +0,24%, Paris +0,06%, Frankfurt unchanged. Madrid -0,17%.
Stable quotations on the government bond market: the ten-year BTP is trading at a yield of 4,17%, spread unchanged at 233.
Fiat +1,85% in the wake of rumors, to be verified, according to which Veba, the health fund for American workers in the auto sector, would need to cash in quickly and at the maximum value the minority stake of 41,5% of Chrysler in order to reduce debt and cover the deficit. "We expect a valuation of between 4 and 4,5 billion dollars, or rather halfway between the Veba requests and the Fiat offer" notes Intermonte.
Pirelli +3,14% following the announcement of the early termination of the syndicate pact. The company becomes contestable and there are rumors of interest from the German Continental on the market. The dissolution of the Bicocca government pact, said Marco Tronchetti Provera. goes in the direction of a company with widespread shareholding and should meet with the consent of the shareholders.
Indesit +2,3%, after the conclusion of the union dispute.
In recovery MontePaschi +1,86% and the popular ones: Banco Popolare +0,8%, Pop.Emilia Romagna +1,1%, Pop. Milan +0,2%.
Unicredit drops by 0,62%, Intesa +0,27%. Generali +0,42%, negative Fondiaria-Sai -0,52%.
Telecom Italia drops by 1,22%: according to some rumors from Bloomberg, the company would like to shelve the spin-off hypothesis of the StM-0,62% drop network, infected by the disappointing fourth quarter indications of the competitor Texas Instruments. The quarterly of the Italian-French jv will be released tonight.
Also Saipem -0,32% pay the disappointing indications coming from the Halliburton accounts.
Buzzi -1,95%, Credit Suisse has cut its target to 11 euros.
The rise continues Autogrill +1,18%, its "cousin" World Duty Free rose by 1,6%.
In luxury Ferragamo -0,9%, Equita has reduced the target to 25 euros, Oddo has lowered it to "reduce". Tod's +1.44% after -2,7% yesterday.
Safilo +1,7%, Berenberg confirmed the positive “buy” recommendation and the target price of 16,5 euros.
Rcs +2,37% boosted today by the declarations of Diego Della Valle who did not rule out the possibility of increasing his stake, now around 9%. Since the beginning of the month, the stock has scored a +38% with increasing volumes. Since the beginning of the year, however, the balance is still negative by over 60%.
Among the small caps, purchases continue on Poltrona Frau which gains 2,3%, and on TxT e-Solutions +2%.
Landi Renzo up 3%, Falck Renewables +2,4%, Piaggio +2,2%.
Sesa debuts on the MTA up 1,2%.
