The European lists held back in the final stages, after a session driven by the energy sector, Piazza Affari advanced by 0,72%, Paris stopped at +0,26%. Frankfurt, on the other hand, closed in the red -0,31%, under the pressure of sales on banks. In the morning the Treasury successfully placed 5 and 10 year BTPs. The 1,21-year bond rose again to XNUMX%.
To characterize the day Toro in Piazza Affari was the leap forward of the oil companies. Eni scored a jump of 4,21% to 2,87 euros. Saipem 4,80% also did very well. Tenaris goes into orbit +8,9%.
On Wall Street, which had already registered the OPEC agreement yesterday evening, the effect on oil soon petered out. After the jump of almost 6% yesterday, Brent today slips down by 0,3% to 48,5 dollars a barrel. As a consequence, share prices were weak: the S&P500 index down by 0,1% and the Nasdaq down by 0,4%. Exxon fell -0,8% (yesterday it rose by 4,4%) and Chevron -0,7% (yesterday +3,2%). Conoco Phillips +1% and Halliburton +2,4% gain (up 4,4% yesterday). Caterpillar's advance continues +1,9%.
The dollar is stable against the euro at 1,122: the market fears that the acceleration of the US economy could lead to an anticipated rate hike in November: GDP growth in the second quarter was revised upwards to 1,4 % from +1,1% of the first survey. There is anticipation for the speech that Fed number one Janet Yellen will give in the next few hours.
Coup de scene in the media sector. National Amusements, majority shareholder of Cbs and Viacom, announced that it has asked the boards of the two companies to start the examination in view of a possible merger.
Returning to Piazza Affari, a nervous day for bank stocks. Monte Paschi closes fractionally down -0,9%. Unicredit also down -0,4%. Bpm and Banco Popolare are on positive ground.
Ubi -2,8% ha pay the price instead for the possible next purchase of the good banks held by the Treasury. Today the dossier was on the table of the Supervisory Board of the ECB in Frankfurt. Much of the impact of the deal, underline the Equita analysts (rating hold and target price of 3,1 euro confirmed on the Ubi share), will depend on the terms of the operation (the transfer of the non-performing loans to the bad bank and the commitments on the reductions of the staff). SIM analysts assume a valuation of 348 million euros and recognition of badwill (1,1 billion). Ubi's Cet1 would fall from 11,4% to 10,9% to recover by 2017 to 11,6% after the repurchase of minorities. Equita does not exclude that Ubi considers a capital increase of 300-400 million euros.
Strong decline in Frankfurt for Commerzbank -2,7%. The bank yesterday presented the restructuring plan to 2020 which provides, among other things, for a 20% cut in the workforce, equal to around 9.600 full-time employees, a contraction that will be balanced by the creation of 2.300 new jobs in the business areas with high growth potential. Added to this is the prospect of a merger between the investment banking division and that aimed at small and medium-sized enterprises and the suspension of dividend distribution for the current year, an action necessary to cover the costs of restructuring, expected to be around 1,1 billion euros ($1,2 billion).
Deutsche Bank resists -1,2%, According to the Financial Times, short positions on the institute (3,1% of the capital) are at their highest since the XNUMXs.
Still to be recorded is the good performance of Fiat Chrysler +1,19% while the Auto Show is being held in Paris. All eyes on Mediaset -1% on the eve of the expiry of the binding agreement for the sale of Premium to Vivendi.
