WEIDMANN AND TELECOM GELANO BUSINESS PLACE. THE BANKS GOOD, THE SPREAD CLOSES AT 140
They hold back Piazza Affari in the final. The Ftse Mib index lost 0,14% closing at quota. The coupon detachment of some stocks weighed 0,16% on the index: Atlantia +0,8%, Mediobanca +2,8%, Mediolanum +1,6%, Sias -0,6%, Tenaris and Terna -0,3%. Paris and Frankfurt gained about half a percentage point.
The words of Nowotny, an Austrian member of the ECB directorate, contributed to favoring the sales: the purchase of government bonds is not currently a topic of discussion at the ECB. Jens Weidmann's intervention was more abrupt: the European Central Bank could run into "legal constraints" if it were to implement further measures to counter the too low level of inflation.
The American Stock Exchange continues to rise: the Nasdaq rises (+0,5%), the Dow Jones (unchanged) has not moved much. The S&P500 index rose by 0,1% and returned to 2.066, the all-time high reached on Friday. Intel is the best blue chip with a 2% upside. Barron's, in its latest issue, wrote that the stock could rise by more than 30% in the next two years. The euro climbs back to 1,24.
The spread between the BTP and the Bund drops to 140 basis points, such a low level not seen since mid-October. The ten-year bond trades at a yield of 2,14%, down by 6 basis points. A Goldman Sachs report forecasts European QE in the first half of 2015, therefore recommends the purchase of BTPs and Bonos. For Crédit Suisse, the operation could take place within 2014.
Telecom Italia's sharp step backwards weighs 3,86% on the Milan stock exchange, despite the ferment in the sector caused by the talks between Telefonica and BT. But the market fears the prospect of a capital increase to finance the eventual Tim Brazil-Oì operation, also considering the heavy debt that characterizes the Oi group. There are those who hypothesize the risk of a capital increase.
Tiscali rises by 19%. Conversely, World Duty Free stands out among the best blue chips with an increase of 3,06%. The banks are on positive ground, even if earnings were reduced in the end due to Weidman's statements. Banco Popolare ends the session with a gain of 1,92%. The stock managed to mark a progress of 4,5% and an intraday high of 10,94 euros. Among other securities in the sector: Ubi Banca +1,86%. Bper +2,33%. Unicredit +0,52%, Monte Paschi almost unchanged at -0,07%.
Intesa rises by 1,02%. The Financial Times writes that the bank is studying an offer to take over Coutts & Co., a UK bank controlled by the Royal Bank of Scotland, which also carries out private banking and asset management activities. The value of the operation would amount to around 500 million pounds (about 630 million euros). Queen Elizabeth is also among Coutts' clients.
Among oil companies, Eni was unchanged after Friday's 4,6% jump. Saipem loses 2,5%. Brent-type oil was down 0,4% to $80 a barrel. This morning Petrofac, a British company operating in the same sector as Saipem, warned that 2015 earnings will be lower than those expected by analysts.
Enel -1%, Finmeccanica +0,3%. FCA is up 1,8%, StM -0,5%. Cattolica +4,5% rises outside the main basket.
