BANKS MAKE BUSINESS PLACES FLY
SPEAK YELLEN, WALL STREET RISES AGAIN
Once again Milan boasted the best performance in Europe, thanks to the performance of the banks. The Ftse Mib index rose by 0,90% to 21.691 points, the highest since May 2011.
The spread between the BTP and the Bund it closed stable at 173 basis points with the 3,29-year Treasury yield at 166%, a three-year low. Spain's spread closes the session at 3,22 basis points with the Bonos rate at XNUMX%.
The rest of Europe is less effervescent which was affected by the fear triggered by the bad data on inflation which in the euro area slowed down to 0,5% in March: Paris -0,45%, Frankfurt -0,33%, Madrid +0,07%. London loses 0,26%.
Positive Wall Street in the afternoon, with the S&P500 index positioned for a second consecutive upward session, thanks to the leap in technology and financials. Around 17,30, the Dow Jones rose by 0,61% to 16.422 points, the S&P500 by 0,65% to 1.869 points, while the Nasdaq rose by 1,05% to 4.199 points. The rebound is linked to comments from Fed chair Janet Yellen: the central bank, she said, will still have to make an extraordinary effort to support the economy and, above all, the labor market, will need a little more of time. Around 17,30, the Dow Jones rose by 0,61% to 16.422 points, the S&P500 by 0,65% to 1.869 points, while the Nasdaq grew by 1,05% to 4.199 points.
Banco Popolare flies to Piazza Affari which recorded an increase of 15,79% on the theoretical price after the detachment of the right (terp), on the first day of the 1,5 billion capital increase and after the managing director, Pier Francesco Saviotti, in the meeting talked about interest from foreign funds.
The Mps (+ 4,87%) were also popular, on the day in which the Foundation, surprisingly, announced that it had sold a further 6,5% of MPS shares to two strategic investors, with whom it has entered into a shareholders' agreement. These are Fintech Advisory and Btg Pactual.
The rally continues Banca Intesa +2,41% supported by the judgments of analysts. Soc Gen raised the target price from 2,5 to 2,7 euros, confirming the buy rating, Rbc from 2,3 to 2,6 euros, reiterating outperform, Ubs from 2,45 to 2,75 euros with a buy rating, Bank of America-Merrill Lynch from 2,4 to 3,1 euros (buy), Morgan Stanley from 2,4 to 2,8 euros (overweight), Equita from 1,9 to 2,6 euros (hold), Kepler Cheuvreux from 2,1 to 2,8 euros (upgrade from hold to buy), while Credit Suisse confirmed the outperform rating with a target price of 2,8 euros.
Mediobanca +4%. Bpm +3,77%. More cautious Unicredit +1,45%. The Italian stoxx of the banking sector rises by 3,26%, the European one by 0,89% Fiat also did well by +2,55%, on the day of the shareholders' meeting during which the CEO, Sergio Marchionne, confirmed the targets for 2014 and announced that the car company wants to market 4,5-4,6 million euros by the end of the year.
Pirelli it dropped 1,55%. Maire Tecnimont jumped by 5,74% to 2,688 euros.
Mediobanca analysts raised the company's target price from 1,76 euro to 3,4 euro, following the increase in profitability estimates for the two-year period 2014/2015. Experts also improved the rating from “Neutral” to outperform.
In Piazza Affari on the rise it is Salini Impregilo +0,88% that Ansaldo Sts +1%. Analysts of Banca Akros (buy and target price at 9,30 euros) judge the news to be good above all because the order should raise valuations in view of a change of ownership and therefore facilitate the sale process started by the parent company Finmeccanica +0,77, 3%. Interest in category B Rcs resp is ignited after the announcement of the conversion. Category A answers are quieter, while ordinary ones drop almost 8%. Astaldi celebrates the promotion to 'accumulated' by Banca Akros with a +XNUMX% after the accounts published on Friday.
