TELECOM ITALIA SHINES, BRUSHED BRAKING BY STM. WALL STREET CAUTIOUS BEFORE THE FED. DOWN APPLE
Markets slow down ahead of Federal Reserve meeting. The Ftse Mib index loses 0,47% in Milan. In Europe, Frankfurt is down by 0,2%, Paris by 0,7% and Madrid by 0,3%. The euro appreciates against the dollar to 1,105 from 1,102 on Friday evening: in the previous three days, the euro has devalued. The BTP-Bund spread widens slightly but remains below the psychological threshold of 100 basis points.
On Wall Street indices slightly below parity. But the plunge of Apple -3% on the eve of the quarterly results weighs on the lists. Within the technology sector, the collapse of Dialog Semiconductor -19%. The company has sounded an earnings alert for 2015. It falls in Milan stm -4,8%. According to rumors, the two key shareholders, CDP and the French state are asking to accelerate investments, in order to preserve employment, even at the cost of giving up part of the dividends.
Telecom Italy up 1,7%, best blue chip. The stock had managed to gain 4% in the morning, driven by the hypothesis of an aggregation in Brazil. But Tim Brasil, 67% controlled by the Italian operator, issued a statement today in which he denies there are ongoing negotiations with the LetterOne fund, a subject controlled by the Russian billionaire Mikhail Fridman and with the rival Oi which had announced a proposal of the LetterOne fund, ready to invest up to 4 billion dollars in the event of a wedding with Tim Brasil.
In the utility sector, losses predominate. A2A -1,4% Snam -0,6%. Enel -0,1%. Crude oil loses 0,3% to 47,85 dollars. Eni –1,5%, Tenaris -0,9%. Instead, it closes in positive territory Saipem +1,2%, it closes positive despite the drop in crude oil which loses 0,3% to 47,85 dollars. Insurance lose ground: Generali -1,5% UnipolSai -1,3%.
Fight the banks too. Goes down Unicredit -0,7%. Consob has turned a light on Unicredit after the events that have seen the vice president, Fabrizio Palenzona, investigated on the Bulgarella affair. This was declared by the president of the Authority, Giuseppe Vegas, on the sidelines of the Assolombarda meeting. Understanding -0,2%. MontePaschi +0,1%. positive Banca Popolare di Milano +0,5%, as they go down Banco Popular -1,5% and Mediobanca -2%.
Waiting for the Board of Directors for the quarterly progress Luxottica +0,9%. Finally, thump of Astaldi -7,9% on rumors of CEO Stefano Cerri leaving.
