Final in free fall for Piazza Affari. The Ftse Mib index closed below 18 thousand points, with a drop of 1,63%, at 17925. The correction on the other markets of the Old Continent was less severe, which did not take advantage of the positive note of the German confidence index, six-year high.
The BTPs closed slightly higher, with a spread of around 222 bp. The other Stock Exchanges also lost ground: Paris -1,24%, Frankfurt 30 -0,86%, London -0,55%, Madrid -0,91%. US stock markets also retreat pending the Fomc verdict on tapering: Dow Jones -0,44%, S&P 500 -0,25%, Nsdaq -0,4%.
The 10-year Treasury yields 2,87% (-1 basis point). The US Treasury today issued $32 billion of 2-year notes. Data released yesterday show a jump in the value of US government bonds held by Chinese investors: 1.304 billion dollars, the highest since July 2011.
In the last hour it has rained massive selling on banking stocks but also on utilities and industrial companies. Luxury stocks also declined. Telecom Italia also slowed down (-1,15%). Angelo Provasoli has renounced presenting his candidacy for the board at the meeting on Friday 20, for which 53,8% of the capital has already been reserved.
Provasoli himself will participate tomorrow in a challenging RcsMediagroup board of directors: at the center of the meeting is an initial examination of the accounts for the current year and next year's budget. The target already set on margins for 2013 (40 million) and the next one (90 million) will hardly be achieved, except for extraordinary transactions. Interventions on periodicals cannot be excluded.
Piazza Affari does not like the MPS Foundation's plan to involve the Cariplo Foundation, Compagnia San Paolo and Cariverona in a large-scale share exchange plan: the MPS Foundation, by selling MPS shares at a 10% discount but proportionally involving the other three Foundations (investment of 690 million), would obtain 93 million Intesa shares (0,6%) and 16 million Unicredit shares (0,3%). Post capital increase, it would retain 7,5% of Monte dei Paschi. The effect, for now, is a shower of sales on the securities involved: Unicredit -2,28%%, Intesa -2,55%. Worst of all is Monte dei Paschi -4,89%.
Also down is Bpm -1,83%, Bper -1,13%, Banco Popolare -2,19%, Ubi -0,17% is doing better, one of the possible buyers of Banca Etruria which instead gained 6,5%. The luxury sector is weak after the triumphal debut of Moncler (today -5,48%). Ferragamo -2,78% , Luxottica -0,51%, Brunello Cucinelli -1,97%, Safilo -1,94%.
Eni loses 1,6%. Saipem falls -2,5% on which the profit warning of CGG Veritas weighs, sharply down on the Paris stock exchange -15,33% (almost -50% since the beginning of the year). Enel is down by 1,9%, Enel Green Power -1,8%. The negative indications coming from competitors on the Brazilian market weigh on Cnh Industrial, -2,8%. Pirelli (+1%) and Prysmian (+1%) are up. Equita Sim's experts confirmed a positive view on the stock (buy rating and target price at 21 euro).
