TODAY THE BOT AUCTION “BLESSED” BY DRAGHI. ASIA AND WALL STREET ALSO FOLLOW THE BULL
“I have a clear message to give you: within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me: it will be enough”. "If the premium paid on government funding prevents the transmission of monetary policy, then this is within our mandate."
Thus Mario Draghi yesterday morning at eleven, Greenwich time, at the Global Investment Conference in London, reiterating that it is unthinkable for a country to leave the euro. An “epochal” intervention, just a few days after the meeting of the ECB directorate on August 2, which is filled with exceptional expectations. Like the FOMC on Tuesday and next Wednesday in Washington.
In the same London conference, Christine Lagarde, director general of the International Monetary Fund: "Europe is at the heart of the crisis, but the USA is still at risk due to its very high deficit and debt". The director general of the Washington institute also pointed out how the price of oil could cause imminent geopolitical risks and noted a clear rebalancing with regard to the Chinese economy. In the United States, on the other hand, the tax peak could cause serious risks.
In any case, today's appointment with the auction of 6-month BOTs (6 billion offered) takes place under much better auspices than yesterday morning's Ctz offer. The spread between Btp and Bund, after Draghi's intervention, collapsed to 469 (43 basis points less than yesterday). The government bond yield fell to 6,00% from 6,39%. The wind from the ECB has also hit Asia. The Tokyo Stock Exchange rises by 1,2%, Hong Kong +1,89%.
Toyota takes the lead again in the GP for the record of sales. The Japanese company, with a leap of 46% in the first half (but the comparison is conditioned by the 2011 tsunami), recorded the sale of 4,97 million cars against 4,67 million for GM and 4,45 million for Volkswagen. According to the Financial Times, two Chinese private equity firms are completing the purchase of Dexia's asset management.
Facebook's share price dropped to a new low of $24 against the IPO's $38. The decline coincided with the quarterly expectations of Marc Zuckerberg's company which closed with a turnover of 1,18 billion, in line with analysts' estimates. But conditioning the title is the admission that the use of the social network spreads at much faster rates than advertising revenue.
However, the problems of the social network did not affect the session. The American stock market moved sharply higher with the Dow Jones and Nasdaq indices rising by 1,67% and 1,37% respectively. The S&P500 gains 1,65%.
In addition to the statements coming from the president of the ECB, another stimulus came from the data on the US economy, which showed strong growth in June in orders for durable goods, in addition to the expectations of economists, at the same time the requests for unemployment fell below forecasts.
The most robust increases involved Milan and Madrid, but all of Europe responded to Mario Draghi's words. In Milan, the FtseMib index closed up by 5,6%: the London Stock Exchange rose by 1,3%, Paris +4%, Frankfurt +2,7%, Madrid +6%. In Piazza Affari, bank shares jumped: MontePaschi rose by 9%, Banco Popolare +6,9%, Mediobanca +4,7%, Unicredit +9,2%, Intesa +8,8%.
The rises of Generali +9,3% and Mediolanum +8% complete the panorama of the financial sector. In Piazza Affari, the increases are those of great occasions. Leap by Mediaset which gained 9,6% after the better than expected results of the subsidiary Mediaset Espana. The rise in oil drove Eni +5,7%. Among utilities, Enel gained 5,8%, Enel Green Power +5,9%, A2A +7,4%. After a declining morning, Telecom Italia reversed course and closed up 2,8%.
Among the industrials, the best performances are from Ansaldo +7,7% and Finmeccanica +5,3%. Fiat less brilliant +1,3%: CEO Sergio Marchionne accused Volkswagen of damaging the market with its policy of discounts on the European market. Among the mid caps, Indesit rose by 6,8%.
The Milan prosecutor's office is looking for the original sheet of the alleged agreement last May between Salvatore Ligresti and the CEO of Mediobanca Alberto Nagel, in which the former owner of Premafin and FonSai makes some requests in exchange for his family's exit from the group .
This was reported today by judicial sources after last Tuesday the Milanese prosecutors seized what appears to be a copy of the alleged agreement, without signatures. The prosecutor is looking for the original of the text to verify if there are the signatures at the bottom of Ligresti and Nagel as can be deduced from the recording of a conversation between one of Ligresti's children, Jonella, and the lawyer Cristina Rossello.
