UNDERSTANDING, CONTI OK. PIAZZA AFFARI HOLDS THE DESCENT
SAIPEM FLIES +6%, THE MARKET PUNISHES PIRELLI
Reflective day for the financial markets. There Milan Stock Exchange it fell slightly in the final part of the session: FtseMib index -0,42% at 16.023.
Modest variations also on the others European squares: Paris +0,2%, Frankfurt -0,20%. Livelier London +0,21% and Zurich +0,61%.
The market is quietgovernment bonds, where the 10-year BTP is trading at a yield of 4,59% with a spread with the Bund at 312, unchanged compared to yesterday.
Also Wall Street moves away from the all-time highs retouched yesterday. The Dow Jones lost 0,1%, the S&P500 0,3% and the Nasdaq 0,5%.
THEeuro it was stable against the dollar at 1,303 from 1,304, while the pound weakened to 0,8786 (from 0,8746 at yesterday's close) after the negative data on British industrial production.
Also the Bundesbank adjusts. The European Central Bank will maintain "an accommodative monetary policy as long as necessary" said the president of the German Central Bank Jens Weidmann in an interview with Bloomberg TV. He warned, however, that "monetary policy worldwide is rather expansive and this could create risks for the financial stability of some markets”.
Between the Italian blue chips the best title is Saipem +5,6%: Kuwait is about to announce in the coming days the list of consortia admitted to the final phase of a maxi tender worth 18 billion dollars.
Eni advances by 0,78%, Tenaris +0,4%.
Atlantia still down falls by 0,81%, gemina salt of 0,25%.
They bounce Telecom Italy +1,89% and Mediaset up 5,09%.
Fight the banks: Understanding +0,4% after the brilliant results announced during the day. Unicredit down 1,54%, Mediobanca -1,94% Ubi + 0,06%. Banca Popolare di Milano loses 2,27%. Heavier Mount Paschi -3,09% and Banco Popolare -2,53%.
Among industrial stocks, Pirelli is down 4,2% after the results.
Fiat falls 2,58%: this morning the company launched a 5-year bond. Fiat Industrial -1,94%.
Finmeccanica +2,78% and StM -4,6% rise in the final.
Bad day for luxury, Tod's -1,4% and Ferragamo -4,5%, both affected by the sell of SocGen.
