DRAGHI BOOSTS THE STOCK MARKETS: MILAN +2,1%.
The European Central Bank will continue to provide the banks with the necessary liquidity if necessary. President Mario Draghi said this in a speech in Frankfurt, however he underlined that “we have reached the point where political choices have become predominant over monetary ones regarding the instruments to be used in the future”.
Draghi's confirmation boosted the positive tone of Piazza Affari and the other European stock exchanges, galvanized by the news that the world's main central banks are ready to intervene, if necessary, to stabilize the markets after the elections to be held this Sunday in Greece.
In Milan, the FtseMib index rose by 2,1% to 13.330, London rose by 0,89%, Paris +1,13%, Frankfurt +0,85%. After last night's rise, the euro is trading at 1,261 against the dollar. Sharp improvement of the ten-year BTP: on the government bond market, the yield fell to 6,00 from yesterday's 6,09%, BTP-Bund spread down to 453 (-8 basis points).
Among the Milanese blue chips Finmeccanica flies +5,78%. Fiat rises by 3,5%: in an interview conducted in Madrid, the CEO Sergio Marchionne said the situation on the European car market remains weak and Fiat could postpone the launch of two new Punto models and cut investments in Europe by 500 million euros. Pirelli rises by 1,9%.
Enel increases by 2,91%: the Spanish subsidiary, Endesa, ha concluded the agreement with Scottisch and Southern Energy (Sse) for the sale of Endesa Ireland. An operation, a press release announces, which will lead to a reduction in Enel's net financial debt estimated at approximately 382 million euros. The consideration recognized by Sse for the entire share capital of Endesa Ireland is equal to 270 million euros (subject to an adjustment mechanism at the closing and including the valuation of the company's CO2 emission rights and fuel reserves).
Positive too Eni +2,4%: crude oil is up with the WTI at 84,5 dollars a barrel (+0,7%). Saipem salt by 4%. Raises d among banks: Unicredit +2%, Mediobanca + 1,5% Understanding + 2,74% Ubi + 1,94% MontePaschi +3%. The rise in financials is completed by the rise of Generali +2% and Mediolanum + 1,84%.
