Business Square takes courage after the successful auction of Spanish government bonds. The Madrid government recently placed government bonds on the market at 4, 7 and 10 years for a total amount of 6,6 billion euro, well above the announced target which was 4,5 billion.
The Ftse/Mib index marks an increase by 0,5%, towed by the banking sector, which is clearly recovering on the eve of the presentation of the capital adjustment plans envisaged by the EBA. They shine the two "special observations" of Europe, i.e. Mps +2,2% and Commerzbank +13% in Frankfurt, after announcing a capital increase of 6 billion.
La Paris Stock Exchange gains 0,6%, London and Frankfurt are tied.
THEeuro is trading at 1,288, up slightly from last night's close. On the government bond market, the XNUMX-year BTP loses the gain from the first trades this morning with the yield returning to yesterday's levels at 6,39%. Spread with the Bund at 460 points.
Unicredit takes off + 3,4%, on par with Understanding +2,4% and del Banco Popolare +2,5%. They also go up Ubi +1,6% and Mediobanca +1,6%. Rising sharply Banca Popolare di Milano +3%. The sector data released by the ABI for the month of December 2011 confirms the slowdown in loans (-0,4% to 1,719 billion euro), but deposits recover (+1,6% compared to November).
Crédit Suisse +3,8% and Ubs +2,8% are flying in Zurich. In Paris Société Générale salt by 5,7%, BnpParibas +3,1%. in Frankfurt Deutsche Bank + 5,3%.
Finmeccanica earn 1% on indiscretions of ongoing contacts with the Safran group, interested in buying Avio, of which Finmeccanica has 14%.
Sharp reduction by Snam -2% instead Eni goes up by 0,6%. Snam drops by 2,9% to 3,286 euros. With the next decree on liberalisations, the government will impose the ownership separation of the pipeline network from a vertically integrated group such as ENI, which owns 50,03% of Snam. But from an industrial point of view it makes no sense to imagine a company with pipelines that does not also manage storage, so the market imagines that all of Snam should leave the Eni group. A sale transaction is expected which will inevitably lead to an offer of shares on the market.
Il liberalization decree it also provides for the exclusion from the gas price adjustment for residential customers for a share of approximately 10%. For the remaining 90% approximately, a reference to the gas prices recorded in the European markets will be gradually introduced: the mechanism will penalize A2A, Iren and Eni itself. Also declining Atlantia -2% and Snam -2%. In general, all utilities, including, are weak Enel -1,4% ed Enel Green Power -1,2%. Recover for Fondiaria-Sai +5% and Unipol +5%, engaged in a difficult process of aggregation which for now has only penalized stocks on the Stock Exchange.
