BUSINESS SQUARE REACTS TO THE FALL OF THE GDP
THEY CORRECT THE TITLES SHORTLY AFTER THE RALLY
Macro data is striking Business Square which reduced earnings after Istat indications. Then the price list resumed its run: Ftse/Mib at 14428 at +0,61%. In Europe, Frankfurt rose by 0,14% and Paris by 0,35%. London –0,14%.
THEeuro it strengthened to 1,241 on the dollar from 1,240 at yesterday's close.
Il drop in GDP in the second quarter of 2012 it is, on a trend basis (-2,5%), ie compared to the same quarter of the previous year, the worst since the fourth quarter of 2009, when the decrease was 3,5%. In the same period – reports Istat again – GDP increased in cyclical terms by 0,4% in the United States and decreased by 0,7% in the United Kingdom. In trend terms, GDP increased by 2,2% in the United States, and decreased by 0,8% in the United Kingdom.
The seasonally adjusted index of industrial production it decreased by 1,4% compared to May but, corrected for calendar effects, decreased by 8,2% on a year-on-year basis. In the April-June quarter, the index decreased by 1,7% compared to the previous quarter. On average for the first six months of 2012, production decreased by 7% compared to the same period of the previous year. In June, the industrial production of motor vehicles in Italy, net of calendar effects, decreased by 22,5% compared to May 2011, 20,1% in the first six months.
Il recovery of stock lists for the last three days accompanied by the sudden drop in interest rates on Spanish and Italian bonds, purchases, especially those on short-term maturities, could anticipate Madrid's request for help to Europe: Prime Minister Mariano Rajoy said over the weekend that before to make a decision, he will wait for clarifications on the unconventional measures that the ECB will implement.
After the recent rally, the biennials of Spain and Italy rebounded: the yield on the 2-year BTP rises by 27 basis points to 3,34%, the yield on bonds with the same maturity rises by 28 basis points to 3,36%.
Unicredit +2,03%, Intesa -0,18%, Mediobanca +0,5%, Ubi +0,42%%, Banco Popolare -1% restarts among banks.
Generali now earns 0,38%%. Mediolanum salt by 2,3%.
Eni it gained 1% while WTI-type oil trades at 92,3 dollars a barrel, up 0,1%.
Enel it has reduced earnings and is now only up by 0,4%, A2A +1%, Terna +0,5%. Telecom Italia is up by 0,7%. Fiat Industrial is up 1% and Pirelli up 1%. Prysmian is down 2,68% on the day of the presentation of the quarterly data. Among the small caps, Yoox's decline continues - 4%.
