GREEK MARRIAGE HELPS BANKS
IN MILAN 39 OUT OF 40 BLUE CHIPS ON THE RISE
Positive start to the week for the main European stock exchanges awaiting a series of US macroeconomic data, from personal income in July (14.30 pm) to the August manufacturing activity index measured by the Dallas Fed (16.30 pm). London closed for the traditional British 'bank holiday' at the end of August. Futures on Wall Street are up 0,76% for contracts on the Dow Jones Industrial and 0,81% for those on the Nasdaq. At the sectoral level, the increases were led by banks: the EuroStoxx index, which includes the credit institutions of the countries that adopt the euro, rose by 1,8%. In Athens National Bank of Greece National Bank of Greece climbs 29% to 3,60 euros on a positive day for the Greek banking sector, with the reference index up 20%. The securities of Greek credit institutions benefited from the news of a possible merger between Eurobank and Alpha Bank, respectively the second and third largest banks in the country.
Also in Milan it is the banks that are pushing the Milanese list into the start of negotiations. The Ftse Mib gains 1,4%, with Banco Popolare (+2,5%) in the pink jersey after the results announced last Friday with the stock market closed. Followed by Fiat Industrial (+2,08%), Prysmian (+2,28%), Ubi Banca (+1,89%), Intesa Sanpaolo (+1,87%) and Unicredit (+1,43%). Purchases also on Bpm (+1,87%). Banks Credit Suisse (+2,24%) and Ubs (+2,13%) rose in Zurich. Societé Generale (+2,44%), Gdf (U+1,85%) and Total (+1,42%) performed well in Paris.
The cyclical sector par excellence, the auto sector, bounces back. Sprint by Porsche (+2,63%), followed by Renault (+2,13%), Daimler (+1,69%) and BMW (+1,55%). Fiat's initial increase of 1,58% was on average, then reduced to 0,5%. Still in evidence, after the good performance on Friday, Prysmian starts with a +1,99%, among the best in the list. Plus signs also for Enel with +1,16%, Enel Green Power with +0,66%, Eni and Saipem with +1,22%, A2A with +1,59%, Terna with +0,37 .1,38% and Tenaris with a +0,37%. More contained earnings for Snam Rete Gas which sees +6,51%. In the All Share, the +0,60% of Falck Renewables should be mentioned, which today will present the results for the first half year. The accounts of Kinexia and Iren are also expected for today (+3,06%). Bad Pramac (-1,01%). On the other hand, Edison (+XNUMX%).
Piazza Affari accelerates which, after more than two hours of trading, returns to the levels of the opening, with the Ftse Mib up by 1,67% to 15.047 points. Among the Milanese blue chips Impregilo stands out (+3,94%), already positive last Friday in the wake of the half-year results. The stock is favored today by a recommendation from Intermonte analysts. Followed by Buzzi (+2,69%), Autogrill (+2,63%) and Intesa Sanpaolo (+2,67%). Mediolanum gains 2,28%, Fonsai 2,24% pending the results. All the blue chips, with the exception of Lottomatica (-0,7%) are in positive territory. The recovery of luxury stocks is also significant, led by Lvmh (+2,5%) on the Paris Stock Exchange.
THE ECB HAS A CREDIT PARACHUTE IN MIND
LONG WAITING FOR TRICHET'S SPEECH
The ECB is working on a "radical plan" to avert the risk of a credit crunch for European banks. This is what the Times of London wrote yesterday, quoting unspecified sources in Frankfurt who reveal how the Central Bank is evaluating the possibility of accepting various types of collateral, hitherto not allowed, as collateral for loans. In Jackson Hole, Jean-Claude Trichet himself alluded to the fact that the central bank has sufficient means to avoid the credit crunch, emphasizing "that it will not hesitate to use them". Thus, attention is growing for the hearing that today the outgoing president of the ECB will hold in the European Parliament.
