TENARIS ADVANCES, NIGERIA WEIGHTS INTO ENI
BTP RECORD. FIAT: FOR NOW, THE TARGETS HAVE NOT CHANGED
Slight progress for Piazza Affari after the success of the BTP auction.
The Milan Stock Exchange advanced by 0,13%, the Ftse Mib index at 21.167 bps.
In balance Paris +0,02%, better than Frankfurt +0,26%. In red Madrid -0,14% and London -0,14%.
Another record for the Treasury. BTPs were placed for 9,95 billion euro of medium and long-term securities at rates on new historic lows. In particular, 2,45 billion euro of BTPs maturing in 2017 were assigned at a yield of 0,52% from the previous 0,84%. €2,5 billion of bonds maturing in 2021 were also placed at a yield of 1,71% from 2,17% on the previous issue. Finally, the Treasury issued 2 billion euro of BTP maturing in 2030 at a rate of 3,03% from 3,44% of the last similar issue. Meanwhile in Piazza Affari ga.
The 10-year BTP is traded at a yield of 2,36% (2,39% yesterday's closing), the spread drops to 133 points.
The dollar fell slightly against the euro to 1,293, from 1,290 in early morning trading.
The descent of oil continues, with Brent at 97,4 dollars a barrel (-0,5%), the lowest since April 2013.
In Europe oil stocks are down (Stoxx in the sector -0,2%) and in particular Eni falls -1%, after the news that the managing director Claudio Descalzi is being investigated by the Milan prosecutor's office for the payment of a bribe in Nigeria.
On the contrary, Tenaris rises +1,7%: The title has been promoted by Morgan Stanley to Overweight from Equal Weight. The target price on the ADR listed in New York was raised to 60 dollars from 47 dollars. Each Adr represents two Tenaris shares, for which the target price on the share is around 23 euros.
Among the utilities Enel shines +0,7% promoted Sector Perform from Underperform by Rbc. Terna falls -0,1% to Underperform from Sector Perform. Snam also decreased -0,1%.
Fiat's advance +1%. "At the moment I don't see a reason to review the guidance for the end of 2014," said Sergio Marchionne at the presentation of the Jeep Renegade. But the situation could be reviewed at the end of the third quarter. "Let me close the accounts in peace and then we'll see," he replied to a journalist.
Telecom Italia unchanged, good increase by Mediaset +1,5%.
The banking sector was flat: Unicredit +0,2%, Intesa +0,3%, MontePaschi -0,4%, Pop. Milano unchanged.
