BAGS HANGING ON THE VOTE OF NICOSIA
WEAK BANKS, TELECOM BOUNCES
La Milan Stock Exchange it starts to descend again together with the other European squares. The FtseMib index is down by 0,31% at 15.874, London -0,3%, Paris -0,7%, Frankfurt -0,6%.
Investors are worried about the controversial plan rescue of Cyprus which provides for a tax on bank deposits.
The market today expects the Cypriot Parliament vote on the plan, but according to a statement by the government spokesman, the plan is likely to be rejected. The spokesman for the Cypriot government also stated that Nicosia will have telephone contact with the Russian president, Vladimir Putin, during the day.
Trading on the Cypriot stock market is suspended today and tomorrow. This is what the website announces Cyprus Stock Exchange, explaining that the decision was taken because the banks will be closed until Thursday and because of the very serious developments for the economy of Cyprus, linked to the decisions of the Eurogroup on the economy and the banking sector of Cyprus.
Il German Finance Minister Wolfgang Schaeuble he does not believe that the euro is at risk. "We don't have to worry about the euro," he told the Boersenzeitung newspaper. During the crisis, the common currency remained stable, and confirmed itself as the reserve currency on a global level. ”Economic data shows that our strategy to counter the crisis is having an effect: a fact that the markets have also registered”L Berlin's optimism is confirmed by the Zew confidence index at its highest level since spring 2010.
Il Btp 10 years it is trading at a yield of 4,65% with a spread that is not moved at 326 (+5 basis points).
Supported the German bund, which moves above 144 points, the 1,4-year yield is just under XNUMX%.
Euro down slightly against the dollar to 1,293 from 1,295 last night.
After yesterday's sharp declines, this morning i bank securities are still weak: Unicredit drops by 1,08%, Intesa -0,58, Mediobanca -1,55%. It's positive Mount Paschi + 0,25%.
It is iThe board of directors is scheduled today, and subsequent conference call, on Bpm's 2012 financial results -0,69%. The issue of the capital increase could be addressed, aimed at the repayment of the 500 million Tremonti bonds.
All major world banks in mid-June 2012, around 208 billion were missing to meet the Basel 3 requirements on capital. This is what the Basle Committee affirms at the end of the monitoring of 210 credit institutions, of which 101 of the 'big' group. The committee notes an increase over the previous survey based on end-2011 data.
Generali drops by 0,55%, Fondiaria Sai -1%.
Fiat loses 0,22%.
They dropped by 10,5% in February new car registrations in the European Union, touching the lowest levels at 795.482 vehicles. This was communicated by Acea, the European Association of Manufacturers which also notes that in the first two months of the year the drop is 9,5%. The Fiat group reported a decline of 15,8% to 54.828 vehicles with a market share down to 6,9% from 7,3% in February 2012. Sales of the Fiat brand fell by 6,8% (share of market to 5,4% from 5,2%). The performances of Lancia/Chrysler (-38,5% sales and market share at 0,7%), Alfa Romeo (-41,8% and 0,6% respectively) and Jeep (-15,7% respectively) were decidedly worse sales and share unchanged at 0,2%).
Positive Ansaldo StS +1,53%. Down Finmeccanica -0,3% and Pirelli -1,22%.
After yesterday's sharp rise, StM it is still positive +0,89%. The increase also continues for A2A +1,14%.
Weak Eni -0,83%, while Enel advances by 0,46%. Moody's confirmed the Baa2 rating.
It does better Telecom Italy +2,54%, potential beneficiary of the release of state payments to companies. Telecom Italia should have receivables of around 1 billion euros from the Italian public administrations.
