Positive bags in the middle of the day with Piazza Affari which does slightly better than the other price lists despite the thud of the banks. Milan +0,84%, Paris +0,7%, Frankfurt +0,6% London +0,39%
Today the Treasury has placed the fifth tranche of the Ctz maturity 31/12/2015 with good demand and yield falling to historic lows. In detail, 2,5 billion euro of securities were placed against a demand of 4,44 billion and a yield down by 32 basis points on the previous auction, to 1,031%. The eleventh tranche of the 5-year BTp indexed to inflation in the euro area was instead placed for an amount equal to 1,25 billion against a demand that reached 2,35 billion euro and yield all '1,39 percent. The spread is decreasing but still travels around 217 basis points. The Spanish auction of the day also did well. Madrid placed 3 and 9-month bonds for 3,1 billion euros at lower interest rates than in the previous December 17 auction. In detail, it sold 940 million in 3-month bonds, against demand 5,2 times higher, at average interest of 0,343% compared to 0,631% in December and 2,160 billion in 9-month bonds, against demand 2,2 .0,655 times higher and with average interest of 0,841% compared to XNUMX% in December.
The eyes of the markets are on the Fed's moves of tomorrow. The expectation is for a further reduction of stimuli for 10 billion. Tokyo closed down by 0,17%, in negative territory for the fourth session in a row. The yen is still showing signs of appreciation. Still fears for the turbulence on emerging markets, and we are looking in particular at Turkey where an extraordinary meeting of the Central Bank is scheduled for today. Meanwhile, India's central bank unexpectedly raised borrowing costs by 0,25 basis points to 8%. Observed special in the coming months inflation.
Eurostat announced that in the euro area (at 17) in the third quarter of 2013 the household savings rate stood at 13%, compared to 12,9% in the second quarter of 2013. In the EU it stood at 10,7, 10,8%, compared to XNUMX% in the previous quarter.
In Italy, Istat communicated that hourly wages increased by 2013% in 1,4, the lowest increase since 1982, when the historical series began.
Piazza Affari runs Yoox. After a series of profit-taking in recent weeks, the share recently landed on the Ftse Mib is back on track and rises by 6,8% with over 600 shares traded (740 the daily average in the last month). The impetus also comes from the Société Générale report which, according to Rafiocor, should be published shortly and could confirm the outperform recommendation by maintaining a high target price of 35 euros. Inm also shows Mediaset +4,9%, Intesa Sanpaolo +2,6%, Azimut +2,34% and Finmeccanica +2,2% in the main basket.
At the bottom of the Ftse Mib are the banks, in particular the weaker matrimonial institutions as Citi underlined in a report. After the announcement of Banco Popolare's capital increase -3,4% after downward freeze) from 1,5 billion, we look at Mps - 3,2% (also after downward suspension) which will have to launch the increase from 3 billion by 2014, to Bpm -1,5% and Banca Carige -3,3% (outside the Ftse mib). Mediobanca is also bad -1,6% which instead pays for the news on the ongoing inspection by Consob which, according to what we learn, also involves the Guardia di Finanza in support and would be linked to the institution's operations.
