Superstar banks in Piazza Affari, which closed up 2,09%. The protagonists of the day are the two popular ones ready for the wedding: Bp +9,50%; Bpm +8,56%. The ordinance with which the Council of State questions the new rules of the sector, it should not affect the upcoming merger. The other European price lists were positive, however with increases lower than those of Milan.
Also Wall Street resumes its bullish run, with the DJ now just a whisker away from 20.000. The markets are welcoming Fed decisions, both the expected 0,25% rate hike, and the tightening announced for 2017 (three further upward adjustments), due to a buoyant US economy, as confirmed by today's macro data.
His Majesty the dollar is once again the protagonist and appreciates against all other major currencies, returning to a 14-year high. The euro also suffers, falling by 1,25% and trading at 1,039. The weaker currency facilitates exports and can contribute to the economic recovery, but the Ftse Mib also celebrates the prospect of public support for the banking sector. According to Reuters, the government has ready a 15 billion decree to recapitalize, if necessary, the banks in difficulty. The public 'parachute' can be used primarily for MPS, but also for Popolare Vicenza, Veneto Banca, Carige and, perhaps, for the four bridge banks born from the resolution of Banca Marche, Banca Etruria, CariChieti and CariFerrara. A guarantee scheme on bank liquidity would also be ready, with a limit of 150 billion authorized by the EU as early as last summer.
moral: mps +2,99%, running for the capital increase of 5 billion, at the maximum price of 24,9 euros per share, to be closed by 31 December; if this road were to have no way out, there would be state intervention. Unicredit +6,39%, after yesterday's profit taking. Ubi +5,88%; Intesa San Paolo +3,38%; Mediobanca +3,36%; Bfor +2,69%.
In great dust for FCA + 4,08%, queen of Europe in registrations in November and the whole galaxy benefits from it: Ferrari +2,57%; Exor +2,45%. Still on the shields Telecom +3,66%, in the wake of the speculative maneuvers related to the Fininvest-Vivendi dispute. Today Mediaset loses 1,55%, for realizations after the boom of recent days and waiting to understand the developments of the story.
Worth mentioning is Recordati +3,36%; Buzzi +4,38%; Ferragamo +2,26%. Unipol +2,03% and Generali +2,53% rally. The spread stops at 147.60 basis points -0,34%; yield 1,84%. Brent -0,91%; Gold -1,55%.
