Business Square it is falling back, but less than the other Stock Exchanges after the inflation figure in September which in the euro area stood at 0,4%, up from 0,2% in August. In the Old Continent prudence prevails, after the indications coming from the Fed and in view of the directorate of the ECB.
In Milan the index Ftse Eb it lost 0,08% in the middle of the day, around 16,580. Discounts in the order of 0,4-0,5% a Paris, Frankfurt e Madrid. London yields 0,8%.
The change euro/dollar is little moved at 1,09897. September industrial production data is expected in America today (+0,2% over August).
On the front bond the German 24-year rate rose to its highest level since 0,093 June at XNUMX%, in the wake of US Treasury bonds which are feeling the effects of expectations of US monetary tightening.
The yield of ten-year BTP at the moment it rises to 1,43%, pending the performance of the Btp Italia subscription. The first indications speak of a sluggish demand from retail subscribers.
After the initial momentum, a rain of sales was unleashed Pop.Milan (-4,7%) following the marriage with Banco Popolare (-0,5% from the initial +4%). With the merger between the two institutions, the third banking group in Italy is born, after Intesa Sanpaolo and Unicredit, with total assets of over 170 billion and a market capitalization of around 4 billion, a market share nationwide of 8,2, 15%, first in Lombardy with over XNUMX%.
Unicredit remains positive and gains 1,99%. According to the Wall Street Journal, the Italian Bank has set the benchmarks for the sale of around 30% of Bank Pekao to the state-controlled Polish insurance group Pzu. Pzu would pay about 11 billion zlotys, equal to about 2,55 billion euros, while Unicredit would maintain a stake of about 10% in the Bank.
Understanding + 0,2% Pop.Emilia + 2,1%. Mount Paschi advances by 0,8%. On 13 October, a new proposal from Corrado Passera arrived at the board and the Board gave a mandate to the CEO Marco Morelli to study it further.
Among the insurance goes up Generali (+ 2%), Unipol + 0,9% UnipolSai +2,4%. Brent unchanged at 51,9 dollars a barrel (-0,1%). Declining oil: Eni -0,8% Saipem -0,6%.
Telecom Italia advances (+0,5%), promoted by Barclays to Equal Weight (target 0,85 euro). The analyst Mathieu Robiliard, the author of the note, has never had a buy recommendation in the last two years, he had downgraded the stock in October last year and hasn't moved from there in these 12 months .
Leonardo +1,6%: Tom Enders, CEO of Airbus, confirmed that he has begun talks on the possible purchase of the stake that the Italian group owns in the Mbda missile company. The French group (37,5% shareholder of MBDA) would have offered 1,1 billion euros for 25% of Leonardo.
Little moves StM (-0,1%) And Fiat Chrysler (-0,3%). In sharp decline Ferragamo (-1,4%), which will present the quarterly results on November 14th. Last week, ahead of this event, Goldman Sachs and Equita cut their rating. The consensus expects consolidated sales for 2016 to be around 1,44 billion euros, up by around 2% from 2015. Luxottica -0,1%.
Among the small caps, Mondo TV rose by 1,3% to 4,49 euros after announcing that it had concluded an agreement with the Hong Kong company Broadvision. Third session of strong rise for Italy Independent Group, today the best stock on Piazza Affari with +10%, at 4,70 euros, after this morning's news. With a note, the group informed that the extraordinary shareholders' meeting approved the proposal to increase the share capital for a maximum total value of 15 million euros.
