BANKS IN RECOVERY, THE BTP 3 MARKS A NEW RECORD. INDESIT CLOSE TO THE TENDER PRICE
European stock exchanges recover after the crash of Espirito Santo. In Piazza Affari, thanks to the rebound of the banks, the Ftse Mib index rose by 1,24% to 20.744. The spread between the BTP and the Bund narrows by 3 basis points to 172. The 2,93-year yield is 7,5%. At this morning's auction, the Treasury sold all the BTPs offered (3 billion): the rate on BTPs 0,84 drops to a new all-time low of 7%. The 2,17-year BTP was placed at 2,12% (against 15%). The BTP 3,44 was assigned at XNUMX%.
The other price lists are also positive: Paris +0,58%, Frankfurt +0,22, London +0,26%, Madrid +1,13% contending with Milan for the top spot on the Stock Exchange. In Europe, the sectors showing the greatest growth are Automotive +0,9% and Banks +0,7%. In Lisbon, the epicenter of the financial earthquake of recent days, the Psi index of the Portuguese Stock Exchange recovers 1,9%. Banco Espirito Santo is suspended.
The most important event of the day are Wells Fargo's quarterly accounts, the first really significant piece of data to verify the state of health of Corporate America.
Indesit +2,5% to 10,80 euros was close to the price of the takeover bid announced by Whirlpool (11 euros), after the US group announced that it had reached an agreement to buy 67% of the group from the Merloni family for 758 million euros. The reaction of the main banks was robust: Intesa +2%, Unicredit +2%, Popolare Milano +4%, Banco Popolare +1,9%, MontePaschi +1,5%.
The rebound of the banks is accompanied by the recovery of the insurance companies: UnipolSai +2,4%, Generali +1,1%. Positive trend in asset management Mediolanum +2,6%, Azimut +2,2%, Banca Generali +0,7%. Finmeccanica still in evidence among industrialists +1,7%. Same change for StM +1,7% and Fiat +1,7%. The utilities are positive: Enel gains 1,3%: yesterday the board of directors officially decided to put the assets in Slovakia and Romania up for sale, giving the relative mandates to some investment banks. Enel Green Power +1,5%.
A2A rises by 1,9%, Snam +1,2%. Moderate progress for Eni +0,7% in a scenario of oil prices still falling: Brent falls by 0,5% to 108 dollars a barrel.
