RAIN OF SALES ON BANKS. RCS SUPERSTAR
HOLDS THE SPREAD, SUCCESSFUL BONOS AUCTION
Sharp decline in Piazza Affari with the FtseMib index down by 2,11% at 16.121 points. The other European stock exchanges also fell, but with smaller losses: London dropped by 0,8%, Paris -1,19%, Frankfurt -1,01%.
The good success of the Spanish auction did not improve the climate, weighed down by the sales on the banks: Madrid placed 3,56 billion 12-month bonds yielding 2,83% from 3%, and another billion 18-month bonds at 3,07% from 3,3%. The Madrid Stock Exchange loses 1,5%.
Among the blue chips in the worst declines is Fiat, in the eye of the storm of political-union controversies over the cancellation of the 20 billion euro investment plan in Italy. The stock falls by 3,5%. Interviewed by Repubblica, the managing director Sergio Marchionne says that the group does not intend to leave Italy.
Fiat Industrial falls by 2,4%, Pirelli -1%.
Sales are substantial on banks: Unicredit loses 3% and Intesa 4%. Pop .Milan drops by 2,6% after HSBC downgraded the rating to "underweight" from "neutral".
On the market for government bonds the 10-year BTP is holding up well: the spread goes from 350 points this morning to 338.
THEeuro it is down to 1,308 against the dollar, from 1,311 at yesterday's close.
Publishing is in the spotlight. Mediaset down sharply -3%: in the afternoon the Biscione company will decide whether or not to submit a non-binding offer for La 7.
Telecom Italy Media is suspended due to an excess increase with a theoretical price of 0,2099 euro (+11%). It explodes, after confirmation of purchases of Diego Della Valle, RCS +22,7%. The entrepreneur from the Marches controls between 8 and 9% of the capital. Thanks to today's jump, the stock has reached levels it hasn't seen since mid-April.
Finmeccanica drops by 1,3%, StM loses 2%.
Saras it advanced by 4,2% after the announcement that it is negotiating a deal with the Russian Rosneft.
The rise of Ferragamo +1,5%, which Goldman Sachs has included in its "conviction buy list", the list of securities to buy without hesitation.
