Slow day for the European stock exchanges. Milan closes at -0,39%, Paris -0,35% Frankfurt +0,7%, London -0,04%. The Dow Jones and the Nasdaq dropped -0,18% at the close of the European stock exchanges.
In Piazza Affari, however, it was Sawiris's move that spiced up Telecom Italia's stock, which rose by 4,2%. Egyptian entrepreneur Naguib Sawiris, former owner of Wind, has proposed to the group's board of directors the purchase of a minority stake in Telecom Italia with an investment of 4-5 billion euros. Sawiris himself confirmed to Bloomberg that the offer will remain valid until the end of the year but that the figure is imprecise and excessive. According to reports from Bloomberg, and confirmed by a source close to the matter, the Egyptian tycoon would have put on the plate a figure of at least 2 billion euros.
Salvatore Ferragamo +1,72% also up on the Ftse Mib, Pirelli +1,46% awaiting the accounts (but attention is also focused on the reorganization of the group after the split with the Malacalza family), Atlantia +1,31% and Tod's +1,29%.
Campari down (-5% and suspension in the session, with strong trading equal to 1% of the share capital) after the nine-month accounts that disappointed analysts. The group recorded a pre-tax profit of 175 million euros, with a growth of only +0,8% compared to the same period of 2011 and lower than analysts' estimates, at 190 million. Campari was penalized above all by the third quarter when it recorded a sudden slowdown in sales in Europe and, above all, in Italy.
A2A -4,44% and Finemccanica -4,18% are also bad. Fiat dropped 3,04% after Bofa analysts cut the target price. Fiat -0,85% . Today the group announced a new organization in view of the merger with CNH. Banks were also in the red after Citigroup today confirmed its negative opinion on the Italian sector. Mps -3,22%, Intesa -1,32%, Unicredit -0,30%.
The Btp-bund spread closes at 368 points, up from the 362 at the opening. Markets are still awaiting decisions on the Greek front which could be made by this evening's Eurogroup or more likely by a new meeting later this week. "Before making decisions, the Bundestag must be consulted," said German finance minister Wolfgang Schaeuble upon his arrival at the Eurogroup on the possibility that the 17 will already decide this evening on Greece.
"I hope that tonight we will reach a political agreement on Greece", said French finance minister Pierre Moscovici upon his arrival at the Group, but even if not everything will be resolved "we must take a decisive step forward towards an agreement". For the Troika, as reported by Bloomberg on the content of the draft report, Greece could need a further 15 billion euros by 2014 and another 17,6 for the two-year period 2015-2016 and recommends a two-year extension for the reforms. Athens closes at -3,63%.
