The financial center of Madrid breathes a sigh of relief after the parliamentary session in Barcelona. The other Stock Exchanges of the Old Continent are more restrained. TO Milano the Ftse Mib index is practically flat, just above 22.300 (+0,16%). Similar trend a Frankfurt (+0,02%), in light red Paris (-0,18%). London -0,09%.
Very different the trend of Madrid: +1,53%. The yield of the Spanish 10-year Bono, down to 1,64%, from 1,67% yesterday. The euro appreciates to 1,183 against the dollar.
Shares of Spanish banks Sabadell and Caixabank, which moved their registered offices from Catalonia to other regions of Spain, rose 1,32% and 1,7% respectively, while BBVA and Santander were up 1,6% and +1,1%.
Lo BTP/Bund spread it dropped to 172,2 basis points after the Treasury placed €6 billion in one-year BOTs this morning, recording a further drop in yields with sustained demand. Indeed, the yield fell by one basis point to -0,334%. Demand exceeded 11,7 billion, equal to 1,96 times supply.
The Spain-Germany yield gap narrows to 121 basis points from 126 at the last closing, while the Spain-Italy differential trades at 51 basis points.
Il Petroleum Brent type closed up 1,5% at 56,6 dollars a barrel; this morning it is at $56,7. He misses out Saipem (-1,9%): Goldman Sachs lowered the recommendation. Eni -0,1%. The utilities are positive. Snam +0,4%: the company has issued a 650 million euro ten-year bond. Enel gains 0,5%
The best headline of the day is Retelit, with a leap of 6,5%. The infrastructure fund participated by CDP continues to proceed with its project to create a national telecommunications hub.
After having taken over Infracom and KpnQwuest and having launched the takeover bid on Mc-Link, F2i would now be concentrated on an entry with a majority position in the capital of Retelit. The company specified in a note that "at the moment there are no formal negotiations between F2i and the Company, but only informal contacts that fall within the scope of normal discussions between operators in the sector".
Curbs the rebound of the banks at the end of the morning: Unicredit + 0,2% Bpm bank +0,2% and Where's Banca + 0,2%. Intesa Sanpaolo -1%: JP Morgan lowered its recommendation to Neutral, target price at 3,1 euro. The American bank lowered the rating on the security from overweight to neutral and the target price from 3,4 to 3,1 euros. In a report on Italian banks, the experts underlined how "the new ECB guidance on non-performing exposures (NPE) should be manageable", also in light of the macroeconomic recovery and the consequent decline in flows of non-performing loans.
Among the insurance companies, Unipol Sai + 0,4% Unipol + 2% Catholic +2,2% on new highs since 2014. In the Exor stable CNH Industrial rises by 0,8%. Data on agricultural vehicle registrations in North America were released last night.
Fiat Chrysler +0,8%. The Reuters agency claims that BMW is aiming to create a joint venture with the Chinese Great Wall Motor, the company that was the protagonist in the summer of the approaches with fca on Jeeps. Ferrari + 0,5%.
