BTP BELOW 5%, THE STOCK EXCHANGE NEARS 16 THOUSAND
BANKS AND EDITORIALS, ALL WITH THE POSITIVE SIGN
The European stock exchanges recovered during the morning after the negative start. The FtseMib index of Piazza Affari rises by 0,66% to 15.997, just a whisker from 16 points. London and Paris swing on parity. Frankfurt rises by 0,24%. Madrid -0,08%. The market is not affected much by concerns about signs of a slowdown in the Chinese economy and the continuing uncertainty about Spain's intentions regarding the request for financial aid. On the contrary, the improvement underway on the government bond market continues, especially as regards Italian bonds. The yield of the 10-year BTP fell to 4,96% this morning (yesterday it was 5,00%), the spread is decreasing to 351 (down by 3 basis points).
The euro has recovered from the dips at the start of the session and is now trading against the dollar at 1,292, unchanged from last night.
La bad banks set up by the Spanish government to transfer the toxic assets relating to the real estate sector present in the balance sheets of Spanish institutions will be made up of at least 55% by private investors.
This was stated by the Spanish Economy Minister, Luis de Guindos.
Meanwhile, during the hearing in the Chamber on the Update Note to the Economic and Financial Document for 2012, Economy Minister Vittorio Grilli he declared that "economic activity should resume and expand in 2013, albeit at a limited pace, and then accelerate in the second half of the year". "Only recently - he added - are signs of greater financial stability emerging"'. Grilli also intervened on the disposal of public assets and, in particular, of the shareholdings in the large national energy companies. "The energy problem, the guarantees of energy supply - underlined Grilli - do not recommend at the moment the disposal of the equity investments in Eni and Enel".
All the banks are on the rise. Mount Paschi rises by 1,7%. Unicredit gains 1%, Intesa +1,3%, Banco Popolare +1,6%.
The rise of. completes the financial landscape Generali + 1,2%.
Ferragamo shines among the blue chips of Piazza Affari, which gained 2,2% after Bank of America started hedging with a buy recommendation and a target price of 19,5 euros. Finmeccanica downsizes - 2,1%, Ansaldo loses 0,5%.
Oil stocks fall in the wake of the decline in crude oil. The WTI loses 0,5% to 91,3 dollars a barrel, Brent to 110,6 dollars (-0,8%). Eni drops by 0,5%, Saipem -0,4%.
Good recovery of Telecom Italy +1,8% after yesterday's slide (-2,3%), caused by the news that the Brazilian subsidiary Tim Participações ended up under investigation for alleged accounting irregularities.
Great day for editorials. Among the mid caps, a leap by Mondadori which rises by 8% after the promotion to outperform of Mediobanca. L'Espresso salt of 3,8%, Rcs +2,7%.
