REBOUND (LATE) FROM ECB
THEY PULL THE BANKS. MILAN +1,4
Financial stocks rebound and drive stock markets: albeit late, investors show that they appreciate the significance of the great refinancing operation of the European banking system orchestrated yesterday by the ECB. The stock exchanges rise throughout Europe, with the index FtseMib of Milan up 1,38% to 15.024, Paris gains 1,3%, Frankfurt +1,47%, London +1,1%.
After stocking up on theFrankfurt Institute, the Italian banking system has 116 billion euros, also exploiting the impact of the 40,4 billion euros guaranteed by the State, activated in a very short time with the support of the Treasury and Bank of Italy to be able to participate in the operation. At this point it is estimated that Italian banks have solved around 80% of the problem of medium-term funding for 2012. In Europe this morning the Stoxx index of the banking sector rose by 1,2%. In Milan Understanding advances 2,07%, Unicredit + 1,7%. MontePaschi earn 1,4%, Pop.Milan + 3,66%. Ubi e Banco Popolare they rose by 1,52% and 1,1% respectively.
in Frankfurt Deutsche Bank rises by 2,8%, in Paris BnpParibas earns 2,2%. The euro marks a slight recovery against the dollar to 1,309, from 1,304 yesterday.
on the government bond market the ten-year BTP it is not benefiting much for now: the yield is at 6,68% (2 basis points less than yesterday). The spread with the Bund is at 473 points. In Rome, the definitive go-ahead for the "save Italy" maneuver is expected today, with the vote of the Senate. The government decided yesterday to raise the question of confidence in the provision, shielding it from the amendments of the Chamber.
Positive morning also for i oil stocks (European Stoxx of the sector +1,3%), driven by crude oil which is on the fourth consecutive session of rise. The WTI is traded at 99 dollars a barrel (+0,3%). Eni rose by 1,5%, Saipem +2,58%, Tenaris +2,18%.
In the financial sector, Generali salt of 1,5%, Azimuth + 1,7%. Fondiaria Sai +0,41, while the prospect of a capital increase becomes more concrete; as a consequence, the parent company Premafin lost -2,41%. Positive Enel + 1,07% Telecom Italy +0,95%, A2A +2,57%. Among the industrialists, Pirelli +2,4% is the brightest, StM advances 1,7%, Fiat Industrial + 1,8% Fiat +2,14%. Among the mid caps it goes up Piaggio + 2,9%.
