Stock exchange day started with the victory of the no to the Independence of Scotland, continued with the record IPO of the Chinese e-commerce group Alibaba and passed through the sudden resignation of Silicon Valley pioneer Larry Ellison, founder of Oracle.
The European lists have closed around parity despite the good start after the no to the independence of Scotland. Paris -0,08%, Frankfurt +0,01%, Madrid +0,15% and of course London +0,27%. For the rating agencies, Great Britain does not risk impacts on the rating in the light of the Scottish referendum.
More marked decline for Milan, where the Ftse Mib is down by 0,74% weighed down by Stm (-4,2%) and luxury goods after the 20% drop in Prada's profit. The Btp-bund spread closes at 133 basis points. The new issue of Btp Italia will start on 20 October, the government bond indexed to the national inflation rate designed especially for individual savers.
For this new issue there will be a novelty regarding the distribution dedicated to institutional investors who will be able to invest in the title on the morning of the last day of the offer, 23 October. The placement could in fact provide for an allotment in the event that the total of orders received is higher than the final offer established by the Treasury. The euro-pound exchange rate dropped 0,13% to 0,7870 to and the euro-dollar exchange rate dropped 0,58% to 1,2848. WTI oil loses 1,17% to 91,98 dollars a barrel and gold continues its descent to 1.217,6 dollars an ounce. In the USA, the super-index of the economy disappointed, rising by 0,2%.
On Wall Street the indexes rise: the Dow Jones gains 0,20%, the Nasdaq 0,10% and the S&P500 0,2%. Rain of sales, however, on Oracle affected by concerns over the resignation of the founder Ellison. Investors do not seem reassured by the fact that Ellison will not leave the company, but will remain as president and as chief technology officer, handing over the role of CEO to Mark Hurd and Safra Catz.
In the meantime, at the close of Europe, the market was still awaiting the first trades from Alibaba, which began trading around six in the afternoon in Italy at 92,7 dollars a share from the 80-83 reported at the start, thus bringing a valuation of 200 billion dollars, more than some of the banks that helped it go public, including JP Morgan and earning the record for the largest IPO in history.
Alibaba, after setting the IPO price at the top of the range yesterday evening, 68 dollars, delayed the debut of trading because the Nyse wanted to operate calmly in order to avoid technical problems in managing expected large orders.
At Piazza Affari, purchases and sales transversely involved various sectors. Profits were taken on Stm which lost 4,05%. Luxury hit: Moncler -2,92% and Ferragamo -2,03%. Today Prada, which is listed in Hong Kong, released data for the first half of 2014, which closed at the end of July, which closed with a net profit of 244,8 million, down 20,6% compared to the same period of 2013. Yoox instead rose by 1,23% due to the effect of the wait for the listing of Zalando. At the bottom of the Ftse Mib also A2A -2,46% and Atlantia -2,36%.
Telecom Italia sells 1,32% on the day in which the future structures are outlined: a note from Vivendi communicated that as part of the agreement with Telefonica for the sale of Gvt, Vivendi will also obtain 5,7% of the capital of Telecom Italia, whose stock market value is 1,01 billion euros. The deal is subject to approval by the relevant regulatory authorities, Anatel (telecommunications) and Cade (competition) in Brazil. The closing is expected “before the end of the first half of 2015.
Banks closed in the red following the auction Tltro: Unicredit -1,79%, Ubi -1,21%, Intesa -1,95%, Bpm -1,63%, Banco Popolare -1,35%. However, Mps rises by 0,28%. Among the financials, Cattolica Assicurazioni collapses by 6,75% after the announcement of a recapitalization of 500 million which surprised operators above all due to the size.
The biggest increases on the main basket of the Milanese square concerned Unipolsai +2,5%, Wdf +1,69%, Cnh +1,55 which rebounds after having reached historic lows in the 6 euro area during the week.
