FLY FONDIARIA, FINMECCANICA AND PIRELLI IN THE RACE
JP MORGAN CUT TELECOM, RCS AND MAIRE LANDSLIDE
Swinging European markets: London -0,05% and Paris -0,06% almost unchanged. Better Frankfurt +0,96%, also thanks to Deutsche Telekom +1,6% after a part of the shareholders of the TLC group (for an overall percentage equal to 38%) opted to have the 2012 dividend in shares and not in cash.
Milano loses 0,17% with the FtseMib index at 16.661 points.
Btp/Bund spread at 266 points against the 265 of the closing on Friday which had put an end to a week of strong volatility in which they had returned to touch 290 points. The yield marks 4,16%.
Il Italian GDP worsens in the first quarter of 2013: compared to the estimates of 15 May, Istat has revised downwards both the economic decline from -0,5% to -0,6%, and the trend from -2,3% to -2,4, XNUMX%. There industrial production meanwhile it fell by 0,3% in the quarter in April and by 0,1% on a trend basis. With the same number of days worked, in the first four months of 2013, the trend decline is 4,6%, the twentieth consecutive.
Waiting for Wall Street, the slowdown in the Chinese economy, which weighs on mining stocks: Anglo American -3,4% and BHP Billiton -2,5% unnerves.
Few reactions to the rebound of Tokyo +4,9% favored by the first effects of Abenomics.
Thanks to the devaluation of the yen, the April current account balance shows a positive balance of 750 billion yen, more than double the consensus of 320 billion, with an annual growth of 100%. The gross domestic product in the first quarter marks a growth of 4,1%.
In Piazza Affari, the leap of Fondiaria Sai stands out +4,59%, in the wake of the interest of Warren Buffett's fund, Berkshire Hathaway, for the assets that the Unipol-Fondiaria-Sai group must sell in compliance with the indications of the Antitrust. In particular MilanoAssicurazioni +5,25%.
Generali salt of 0,56%.
Between banks, unchanged Unicredit, Entente – 0,78%. On positive ground Banco Popolare +0,66%ò.
In decline Fiat -2,62%. Among other industrial stocks, Ansaldo Sts gains 2,2%, StM -0,27%, Sale Finmeccanica +2,78% pending possible sales (see Avio Spazio).
Pirelli +2,78%. Giuseppe Vegas confirmed that Consob is investigating the peace between Malacalza and Mtp, not neglecting a possible hidden pact in Pirelli. Marco Tronchetti Provera's comment against the accusation made by the press was dry. "These are serious falsehoods that disturb the market", he said adding that "the only hidden thing is the reason they are written: Consob must investigate this because it is very serious for the whole market". A note from the company specifies that "there are no pacts or agreements between the parties involved in the Camfin reorganization operation that have not been made public and of which Consob has not been informed".
Rating effect for Eni -0,5%. UBS lowered its target price to 20 euros from 21 euros and removed the stock from its list of preferred European shares (European Key Call), while confirming the "buy" rating.
Su Telecom Italy -2,5%, JP Morgan cut to "underweight".
Enel loses 0,29% Down Cleansing – 1,13% to 0,2446 following the news that Luigi Zunino will launch a public purchase offer at 0,25 euro per share. Zunino undertakes to take over the shares held by the banks. The real estate company will then transfer the area of Milan Santa Giulia to the credit institutes, destined to be taken over by Idea Fimit.
Under fire Rcs – 7,62% e Maire Tecnimont -11,45% with losses around 6%.
Both companies have heavy recapitalization plans in sight. .
