STOCK EXCHANGE, SPREAD AND BOT, THE DAY OF RECORDS
CNH AND PIRELLI RUN. US FUNDS FOR TELECOM
On the day of yet another political crisis in the Bel Paese, finance is breaking records.
In Milan, the FtseMib index rose by 1,3%, to 20.144, holding back on the wave of Wall Street.
Piazza Affari thus "holes" again the ceiling of 20 points from the records of July 2011.
The yield on ten-year BTPs fell to 3,67%, to its lowest since 23 February 2006. The spread fell to 201, after reaching 197. In the morning, the 12-month Bt auction recorded the lowest rates low since the birth of the euro: 0,676% from 0,735% at the January auction. Demand rose with the coverage ratio rising to 1,63 from 1,45 previously.
In the end, all the European markets held back, following the wave of Wall Street.
Paris +0,51%, Frankfurt +0,56%. Madrid – 0,15%.
The US stock market slows down after a lively start that pushed the Dow Jones index back above the psychological threshold of 16.000 points also thanks to the words of James Bullard of the Saint Louis Fed, optimistic like Janet Yellen on the US economy .
Then, thanks to the strengthening of the dollar, Wall Street slowed down: the Dow Jones index settled down at 15.965, down by 0,2%. The Nasdaq (+0,2%) and the S&P500 (+0,1%) weakened, but remained on the rise.
From privatizations "it is true that there will be modest amounts compared to the debt, but I think a signal should be given to Europe and to ourselves that we are trying to find more ways to reduce the debt". This was stated by Economy Minister Fabrizio Saccomanni, specifying in a hearing in the Senate that "an overall estimate in the order of 8-9 billion euros within the year can be considered reliable". Soon the appointment of advisors for Poste and Enav. Ok for the sale of the Fincantieri stake with a capital increase. Railways and Cdp are also on the list of share transfers.
The rush of the banks slows down in the finale. Always tonic Pop.Emilia +5,04% and Pop.Milano +2,87%, Banco Popolare ends up in negative territory – 1.02%.
The Bigs were also positive: Unicredit+2,16%, Intesa+0,47%, Mediobanca+1,19%.
Among the insurance companies, Generali +2,23%, UnipolSai +1,23% woke up.
In asset management, Azimut rose by 3,01%, Mediolanum +0,91%.
Among industrial stocks Pirelli gains speed +3,83% on the wave of Michelin data; Cnh Industrial also changes gears +2,83%, driven by the rise of the American Deere which announced prospects for 2014 better than expected in the tractor and agricultural machinery sector. Fiat gains 0,97%, neutralizing the effect of the relegation of Moody's.
Eni +1,25%, Tenaris +2,2%.
Finmeccanica +1,77%. The joint venture between Alenia Aermacchi and the Airbus Group has received two different orders: the first from the United Arab Emirates company Dubai Aerospace Enterprice which ordered 20 Atr 72-600s with an option for another 20; the second from Thai Bankok Airways which ordered 6 ATR 72-600s and optioned another 2. Mediobanca continues to underperform pending the 2013 accounts.
In luxury Yoox gains 2,08%, Tod's +1,24%. The clash between Diego Della Valle and John Elkann gives the charge to RCS Media Group. The share gains 7.24% to 1,60 euros, at the highs of the day.
The US funds, in search of "good" speculations, are heading towards Piazza Affari.
The American investment company Dodge & Cox holds 5,045% of Saipem +2,07% as a "discretionary management" of savings'. The update of the investment held by the San Francisco-based fund dates back to 4 February and emerges from Consob communications.
Telecom Italia +0,94% Meanwhile, after the Massachusetts Financial Services Company, which appeared on Monday with 5,7% of Telecom Italia savings +0,54%, another fund announced that it held 5,83%, again of savings : Brandes Investment partners, with 27,2 billion dollars of assets under management against the 0,1% registered at the assembly on December 20 last year. The purchase operation, like that of the other US fund, dates back to 31 December 2013. Since that day, Telecom savings shares have risen by 14,5%.
Good news for unchanged Impregilo. In the last few hours, the Panama Canal Authority and the consortium of companies led by Sacyr have reached "a preliminary agreement on a series of issues" on the 1,6 billion dollar extra costs for the works to expand the Canal. This was stated by the number one of the Canal Authority, Jorge Quijano.
