Stock markets in the window today, waiting for the Fed to reveal its monetary policy decisions tonight (a 0,25% rate hike is expected) and that Janet Yellen tell us how the American central bank will interpret the 2017 path of the largest economy in the world. In this suspended climate, European lists close lower, while Wall Street opens cautiously, as if taking a breath, after a succession of rises since the start of the Trump era.
The Ftse Mib today is Europe's black jersey: -1,18%, partly due to profit taking after yesterday's rally; followed by Madrid -1,09%; Paris -0,57%; Frankfurt -0,16% and London -0,08%. The rapid resolution of the government crisis helps in part the spread of the Italian 150.40-year bond, which drops to 0,79 basis points: – 1,82%; yield at XNUMX%.
In the seemingly gray landscape, a small light illuminates Mediaset even today (+ 1%) after yesterday's fires, for the start of the battle between Vivendi and Fininvest. The calm may only be apparent. The French last night exceeded 12%, while the Biscione brought its controlling stake close to 40%. For the Financial Times, Vincent Bollorè is a cat ready to eat the mouse, but the Berlusconis don't seem so much in the role of prey. Meetings to find a way out also followed one another with the top management of the company. According to the president Fedele Confalonieri: "It will be tough, but we will defend ourselves and it won't be easy because French companies tend to cannibalize". Mediaset will have to get used to not only looking at "external competition", but also at "internal competition", paying attention to what "happens in the corridors". And in fact, with the markets closed, the news arrives that Vivendi has risen to 20%.
Day of suffering for Unicredit -6,41%, yesterday on the shields with double-digit percentage increases. The bank today placed an 'additional Tier1' bond for an amount of 500 million, through a private placement. This type of bond, with no maturity date, allows the issuer, even if only temporarily, to increase its Cet1 in the event that the latter falls below a certain minimum threshold. The security, issued at par and with a "BB-" rating, will pay an annual coupon of 9,25% and Unicredit has reserved the right to redeem the same in June 2022.
Mps -2,05%: the MPS board of directors meeting in Siena will continue tomorrow as well, considering the many open points still to be addressed on the bank's rescue plan. In the meantime, according to Reuters, Consob's decision should also have arrived on the request to reopen the conversion of the retail subordinated bond, a fundamental part of the 5 billion euro market plan.
Bper (-1,63%), denied interest in Carife. In contrast Bpm (+1,8%) and Banco Popolare (+1,58%), after yesterday's crash and ever closer to the merger which will lead them, on January 0,93st, to become Banco Bpm; Positive Mediobanca +2,78%. Industrialists suffer: Cnh -1,61; Buzzi -XNUMX%.
Tenaris drops by 0,67%, but obtains, from the ICSID court of the World Bank, the victory in an arbitration against the state of Venezuela for a total of 165 million dollars in relation to the expropriations of investments in Tavsa and Comsigua in recent years. The proceeding, which began in 2012, provides the company with compensation of 137 million dollars, 24,6 million in interest and 3,3 million in legal fees.
Leonardo was slightly negative -0,3%, which further strengthened itself on the Chinese market by signing a contract with Sino-US Intercontinental Helicopter Investment for the sale of 30 AgustaWestland helicopters. On the oil front: Brent -1,24%, at 55,05 dollars a barrel, per some uncertainty around the agreement to reduce production. Euro +0,26%, traded at 1,065 against the dollar.
