Stock exchanges little moves in the morning, in the face of significant movements on the currency market. After five bearish sessions, the euro/dollar exchange rate is back this morning at 1,069, in line with yesterday evening's close, on the highs for a month. The pound consolidates +2% yesterday, the best session since June (euro/pound cross 0,867).
At Piazza Affari the index Ftse Eb it loses 0,2%, around 19.200. Stronger the decline of Paris (-0,4%). In positive ground Frankfurt e Madrid. Up by 0,2% too London, despite the rally in the Queen's currency. The British publisher Pearson has reduced its profit prospects for the next two years and by the end of the morning it had lost 27%.
Shortly after 11 o'clock orders for the new 15-year Btp have already passed the threshold of 18 billion. At 11,20 the BTP of 1 March 2032 with a coupon of 1,65% was traded up by around 0,2 points to 91,67, for a yield of 2,32%: this would result in a yield for the new share in the area at 2,52%. The operation is managed by Banca Imi, Barclays, Credit Agricole, Ing Bank and Natwest. Pricing is expected within the day.
The downgrading of the Italian debt by Dbrs and the reliefs of Brussels on the MEF document have not prevented the new bond from taking off. In the late morning, the secondary appears to be down slightly, however outperforming almost all of the European sector. The yield differential between the BTP and the Bund on the 10-year segment stands at 166 basis points from 167 at the end of the session, while the 1,92-year rate trades at 1,91% from XNUMX% at the last closing.
THEinflation in the euro area rose by 1,1% in December (+0,6% on a monthly basis) in line with forecasts, supporting the forecast that tomorrow the ECB will not make any changes to the Qe programmes. Bank of America-Merrill Lynch pundits believe Draghi will try to be "as boring as possible" by sticking to the message given in December to avoid creating expectations about further monetary policy changes.
Data on US inflation will be released in the afternoon, rising to 2,1% from the previous 1,7%.
Petroleum up slightly with Brent at 55,8 dollars a barrel (+0,5%). Crude Oil Stocks Rise: Eni + 0,1% Saipem + 1,2% Tenaris + 0,7%.
Saras drops by 3,5% to 1,591 euros: with a flash sale announced yesterday evening, Rosneft sold the entire 12% stake it still owned to institutional investors. According to rumors, the price should be 1,53 euros per share, against yesterday's closing price of 1,651 euros.
Weak banks (-0,2% the sector index). Unicredit -1,1%: reverse split of ordinary and savings shares will be effective from 23 January. Capital Group, the first shareholder with 6,7%, is betting on the relaunch of the bank under the direction of CEO Jean Pierre Mustier.
in the rest of the sector Understanding loses 0,5%, Bpm bank + 0,1% Ubi +0,1%. Creval made a big show (+8,6%) after the announcement of the choice of advisers on strategies rekindled speculation on M&A. Exchanges are intense with around 21 million pieces treated, just over double the average.
In decline Generali (-1,3%). Bucking Cattolica Insurance (+1,7%). Scor, one of the leading reinsurance groups in the world, based in France with a 10% share of the Italian market, entered the company's capital with a 2% share. An operation that brings a stable shareholder into the capital and adds to Banca Popolare di Vicenza with 15,07%.
Mediaset -0,4%: the presentation of the new industrial plan is underway in London, which plans to reach an Ebit of Italian average activities of 2020 million in 468 and to rise from 37,4% today to over 39% of the share of advertising market. Premium will open up to other operators. The plan is divided into three strategic business areas: TV, digital and radio, and is based on four growth drivers, i.e. Content Multiplier, Ad Tech Platform, Audience Profiling and Cross-Media approach. 200 million of EBIT improvement in 2020 will come from the new pay TV
Telecom Italy falls by 0,7%. Fiat Chrysler regains positions: +0,4% even if Dbrs has placed the rating, which had been assigned a BB (low) rating with a positive trend, under observation with "developing" implications.
