GREAT FIESTA FOR BONOS AT THE MADRID AUCTION
AT THE PALIO OF PIAZZA AFFARI MPS GOES AGAIN TO GSLOPPO
This morning's auction of Spanish bonuses from 4,5 billion euros confirmed that tensions are easing on the market. Madrid placed 3,53 billion euros of 12-month bonds at 3,07% from 3,91% in the previous auction. Bid to cover at 1,9 from 2,2 in the previous auction. The remaining part of the issue, 18-month government bonds for a value of 0,98 billion euro, was placed at 3,33% from 4,24%.
Retrieve the Bund Btp spread to 414 (-10 basis points). The spread on the two-year maturity is 292 basis points (-9 basis points).
European stock markets are up, after yesterday's stop caused by the Bundesbank's slamming of the spread containment plan. The recovery of Piazza Affari has resumed: the FtseMib index rises by 1,4% to 15.189. Paris gains 0,65% and Frankfurt 0,45%. The current Italian government has a lot of credibility” and at the moment the political risk for the country associated with the end of its mandate in 2013 exceeds that represented by the economic crisis. That's what he said Fitch Chief Operating Officer David Riley, in an interview with Bloomberg TV. According to Riley, Monti must make progress as quickly as possible in order to "create some light at the end of the tunnel" before being replaced at Palazzo Chigi. Once again, the banks led the race for Piazza Affari.
MontePaschi stands out again this morning with an increase of 6,3%: from 2 August to today the Sienese bank's shares have risen by 45%. The recovery of Italian government bonds favors credit institutions, large holders of these assets. Intesa rises by 2,5%: the bank has 49 billion euros in its portfolio between BOTs and BTPs. Pop.Milano +2,6%, Unicredit +1%, Popolare dell'Emilia +3%, Banco Popolare +2%.
among the financial securities advances Mediolanum + 1% Generali + 1,9% Unipol + 3%.
Industry stocks were positive. Finmeccanica it advances by 1,8%. Fiat gains 1,9% after the positive data on auto sales in the first two weeks of August in Brazil (+32%). Fiat Industrial +1%.
Among the utilities, A2A salt of 0,5%. Enel, Snam and Terna are up 0,5%. Enel Green Power +1,6%.Atlantia +2,7%. Mediaset +2%.
Financier George Soros has announced that he has taken over 1,9% of Manchester United, the soccer team controlled by the Glazer family and floated, with some uncertainty, in early August. Shares of Manchester United, listed on August 9, lost about 1 dollar compared to the 14 dollars per share set as the placement price. In 2008 Soros was referred to as one of the possible buyers of As Roma.
