The yield of ten-year BTPs fell to 5,72% (-22 percentage points compared to yesterday) and lo spread finally breaks through the obstacle of 400 basis points: the scissor with the Bund it shrank to 390 points. The good intonation of the sovereign debt market this is reflected in the stock lists, which have gathered courage after the cautious start. In Milan the FtseMib index it rose by 2,19% to 16,154, London advanced by 1,38%, Paris +1,5% and Frankfurt +1,93%. Towing the Bull are the banks (European Stoxx +2%), and financial stocks in general. In great evidence the Banco Popolare and MontePaschi +6,7%, Unicredit gains 3,2% and Intesa 3,7%. The increases of Ubi and Pop.Milano exceed 4%.
Why the rally? In part, the explanation lies in the belief that a positive conclusion of the Athens debt negotiations is now imminent. The loss for individuals could reach 70%. Another good news comes from China: the PMI index of manufacturing activities rose to 50,5 in January against 50,3 in December and 49,5 indicated by the consensus of economists, thanks to new orders: growth stronger than last three months.
In this frame the spotlights are focused on theyet another trial by fire for the eurozone: the Portuguese auction. Between 1,25 and 1,5 billion in total Portuguese short-term, 3- and 6-month bonds are currently on the market. The 14,73-year Lisbon bond yields 23%, -XNUMX basis points.
Blaze in Piazza Affari for Fiat Industrial, which came to gain up to 5% after the publication of the results for the 2011 financial year. The share, after falling back from the maximum, now rises by 3,20% to 7,73 euros. Yesterday the stock had plunged by 5,5% on the wave, it was said, of "disappointing" results of Cnh which also had practically doubled the profit. A judgment to which speculative currents based on algotrading arriving from the USA are certainly not extraneous. Today the accounts of the company, which controls Iveco as well as CNH, restore some order: in the first year of activity the company, born from an offshoot of the old Fiat, announced a total dividend of 240 million. 2011 closed with revenues of 24,3 billion euros, up 13,8% on the previous year. Fiat Industrial, which owns Iveco and CNH, closed 2011 with revenues of 24,3 billion euros, up 13,8% on the previous year
The Fiat data will be communicated in a few hours +2,83%. Among industrialists, StM rises by 2,6. European oil companies are running: in Milan Eni gains 1,4%, Tenaris +1%. Saipem +0,2%, was downgraded by JP Morgan. Enel down -0,4%: the board of directors announced that the company will no longer pay advances on dividends.
