BTP ITALIA, EASTER GIFT FOR THE TREASURE
MPS, TODAY THE INCREASE RISES TO 5 BILLION
Closes in positive ground this morning Tokyo Stock Exchange +0,4%, the only one open among the main Asian markets. Lists almost flat yesterday also a Wall Street: the Dow Jones index ends just below parity (-0,1%).
They do better S&P500 +0,18% and Nasdaq +0,23%. For both price lists, the short week (the American and European price lists are closed today) was the best since last July. In great evidence yesterday Morgan Stanley +2,9% and General Electric +1,7%, thanks to the good results of the quarter. Goldman Sachs disappoints -0,1%. In sharp decline after the accounts IBM -3,3% and Google -3,7%.
La quarterly campaign is considered satisfactory so far: 63% of the companies in the S&P basket beat the estimates Good news also from the macro front: claims for unemployment benefits slipped to just over 300 units, around 2007 values. In the tech sector, it should be noted the rebound of Weibo, the Chinese Twitter, up 25% the day after its disappointing post-IPO debut.
Le European stock exchanges, after a colorless session, they took the upward path after the arrival of US data. Frankfurt finished up 0,99%, Paris up 0,59%, London up 0,62% and Madrid up 0,24%. On the foreign exchange market, the pound is in great turmoil, at 1,6836 against the dollar, the highest since November 2009, pending measures by the Bank of England to curb the euphoria of the real estate markets. In Piazza Affari, the Ftse Mib closed at +0,37%
BTP ITALY RECORD. CANNATA: THE MOMENT MUST BE EXPLOITED
The most positive note comes from the front of sovereign debt: the sixth issue of the BTP Italy was a great success: 20,5 billion in total funding (against an expert forecast of 15 billion) divided between the 10,5 billion that went to institutional investors in just 40 minutes before the early closure, 10,06 to small investors. The six issues of Btp Italia, from 2012 onwards, have yielded a collection of 87 billion. Since the beginning of the year, the Treasury has placed government bonds for 174 billion, around 37% of the target for 2014 (470 billion). Despite the record result (the forecast was around 15 billion) the Treasury is not thinking about the time to reduce emissions, which can be assessed in the second half of the year. This is what the head of the Treasury said Maria Cannatin an interview with the TV station Class CNBC. “It seems appropriate to take advantage of the favorable moment, in the second part of the year we will be able to issue less” said Cannata. The presence of foreign investors at the subscription of the Btp Italia, you added, "has taken place and has not been insignificant" and should be considered "strategic" and not "hit and run".
In the afternoon, the Treasury communicated the amounts of the April 24 auction. 3-year Ctz will be offered (amount from 3 to 3,5 billion) plus a total of 1,5 billion Btpei, maturing in 10 and 12 years. Meanwhile, on the secondary market, the yield on 10-year BTPs reached a new all-time high of 3,08% in the morning before rebounding to 3,12%. The recovery of the Periphery of Europe continues with the ten-year yield of Athens falling by 15 basis points to 5,92%.
FIRE SUMMIT IN SIENA. BPM STARTS AGAIN
Day of fire today for the top management of Monte Paschi +2,81%. The board of directors meets today to evaluate the proposal to increase the amount of the capital increase up to 5 billion euros from the initial 3 billion euros envisaged. The orientation of the guarantee consortium seems positive. The moods of the Foundation a little less. But the operation seems necessary to pass the European tests.
In Piazza Affari the best blue chip was Banca Popolare di Milano with an increase of 5%. The bank communicated that the non-approval of the governance review proposal will not delay the execution of the planned capital increase of up to 500 million euro, which is expected to start in the first days of May. The company explains in the note that it is able to repay 750 million euros of Ltro funds by the end of April, with the aim of a full repayment of the funds taken from the ECB by the end of 2014 Full success for the Banco's capital increase Popolare -2%: 99,138% was subscribed, for a total value of Euro 1.485.346.79.
Among the Popular Banks, Banca Popolare dell'Emilia Romagna suffers, closing down by 2%
The performance of the Bigs was positive: Mediobanca rose by 2,5%. Intesa +1%, Unicredit + 0.06%, Ubi 0,5%.. . Among the small assets Banca Ifis +4,1% and Popolare dell'Etruria +3,1% after the recent decreases.
Asset management contrasted: Azimut +2,42% and Mediolanum -0,31%. On the second day of listing, after the decline on its debut, Anima scored a leap of 5,68%, exceeding 4,28 euros, above the offering price.
CHINESE STRETCH ON DRINKS. CAMPARI ALSO SLIPS
Black day yesterday for the European drinks sector. The tightening ordered in China by President Ji Xingping on luxury goods considered a weapon of corruption, including fine liquors, weighs heavily. The British giant moves back Diageo -6% which, alongside Smirnoff vodka and whiskey Johnnie Walker, has baiju in its catalogue, the white distillate that seems to be the most coveted gift for party members, expressly mentioned in the president's ordinance. Bad slide also for Remy Martin -3,8%, leading brand for cognacs. In the last quarter, sales in China fell by 32%. On the wave of sales in the sector on the black day of drinks, Campari also falls -3%.
CAR GOODS AND PUBLISHING. TELECOM
Good day for the media after the positive signals coming from the good data of the advertising agency Publicis. Mediaset advances by 1,2%. Highlights too L'Espresso +3,3% and Cairo Communication +2,89%. Mondadori scores +2,37%, Rcs +1,85%. Classes +2,15%.
Telecom Italy it lost 0,1% the day after the shareholders' meeting which renewed the composition of the board of directors. The new board will include 3 members from the Assogestioni list (Lucia Calvosa, David Benelli and Francesca Cornelli), while Telco proposed Marco Patuano (confirmed CEO of Telecom), Giuseppe Recchi (appointed chairman by the assembly) and Denise Kingsmill. After the data on registrations in Europe, the automotive sector was positive (+2,11% the European sector index). Fiat closed up 1,5%. Pirelli +1,7%. Cnh Industrial unchanged, Exor +0,47%. Positive StM+2,2%, driven by Sandisk's +9% after the quarterly.
PARMALAT, FEWER PLACES FOR FUNDS. TXT TO THE STARS
Among other titles: Parmalat +1,36%. With the funds voting against and Sofil (Lactalis) voting in favour, Parmalat's shareholders' meeting set the number of directors on the next board at seven. Six members of the majority therefore enter the council, with Umberto Mosetti remaining to represent the minorities.
Registered +4% after the advances on sales in the first quarter of 2014. It closed the first quarter with sales of 260,4 million, up 6,5% on the year. D'Amico +3%. Italcementi Salt +2,39%. BofA said the group will benefit greatly from the merger between Lafarge and Holcim. Deursche Bank confirmed its hold rating by raising the target price from 6 to 9 euros. Salini Impregilo also did well +1,27%: the company was awarded a contract worth 410 million euros for the construction of a stretch of motorway in Slovakia.
TXT e-Solutions salt by 5,4%. The company specialized in the creation and sale of software solutions for the luxury, fashion and specialized retail chains sectors, yesterday reported the preliminary data on the first 3 months of 2014.
