RECORD DEBUT FOR THE NEW BTP ITALIA
US (AND TOKYO) CONSUMPTION PUSH EXCHANGES
In first day of trading for the new BTp Italia, now in its third issue, has collected subscriptions for almost 2,5 billion. Some operators report it to Radiocor. A total of 40.930 contracts were signed. The new indexed BTP expiring in October 2016 also surpassed the subscriptions of the first Italy BTP issued in March, which collected requests for 1,56 billion on the first day of placement and total subscriptions for 7,2 billion.
ASIA
I US consumption data export-related stocks such as Samsung +2,1% galvanized it. Tokyo rises by 1,23%, Hong Kong marks +0,23%. Shanghai is also recovering +0,6%. From the lows of 26 September, Chinese stock markets recovered 5,6%.
An unexpected overtaking is looming, that of Japan over China in the ranking of the first lenders of US debt, which rewards Tokyo on the day of the last samurai landing in the States. According to the latest data, Beijing controls US government bonds for 1.115 billion dollars (-0,2%) while Japan rises to 1.112 billion (+5,6%).
Meanwhile Masayoshi Son, owner of Softbank, son of Korean immigrants, therefore on the edge of imperial Tokyo (despite delighting in honoring the rites of the samurai) he carried out the most demanding landing of a Japanese company since the XNUMXs (or, even, since Pearl Harbor): the purchase of 70% of Sprint Nextel, the third largest telecommunications operator in the USA, for 20,1 billion dollars. If the operation is successful, according to The Economist Masayoshi will be the most important "wireless mister" on the planet.
AMERICA
At the end of the session Dow Jones +0,72%, Standard & Poor's 500 +0,81%. The Nasdaq scores +0,66%.
Even Wall Street is about to sit down in front of the TV to watch tonight's big match when President Barack Obama and challenger Mitt Romney will cross the virtual boxing gloves.
Meanwhile the encouraging results of Citigroup and by retail sales higher than estimates in September offset the poor performance of commodities: weak oil with the WTI at 90,1 dollars a barrel (-1,7%); gold at 1.732 dollars an ounce (-1,2%), silver -2,3% on the lows since mid-September. Platinum -1,6%. Agricultural raw materials were also bad: corn -1,4%, soybeans -1,9%. .
Microsoft +0,3% announced that the Xbox Music digital device, which rivals Apple's iTunes service and Amazon's Cloud Player, will be available on Thursday for new Xbox consoles.
EUROPA
Positive day for the European Stock Exchanges with widespread increases in all sectors, in particular banks (+1,1%) and insurance companies (+0,9%). Frankfurt +0,4%, Paris +0,97%, London +0,2%.
Swedish Finance Minister Anders Borg predicts that Greece will "probably" leave the euro within six months. German Finance Minister Wolfgang Schaueble he cuts off his words: "I don't think there will be a state bankruptcy in Athens".
The markets believe in Berlin: the Greek 17,4-year yield falls to 2011%, the lowest since August 1.563 for a spread of 63 (yesterday -27 basis points), the lowest since last March. In July, the respective values were 2.560% and XNUMX basis points.
Il next EU summit therefore born under good auspices, even if in Brussels we will talk above all about banking union, little of Greece. Nothing or almost nothing of Spain.
Lo XNUMX-year Btp/Bund spread German contracted to 347 basis points (-5bp) for a yield on the 10-year BTP of 4,94%. The movement of the Spanish spread was more modest, rising by 5 basis points to 418, Bonos 10-year yield at 5,65%.
ITALY
In Milan the FtseMib index rose 0,5%
Three featured stories.
Mediaset (+3,3%) on the hypothesis of a Premium-Al Jazeera joint venture.
Impregile it (+1,9%). Today's board of directors is called to decide on the sale of 19% of Ecorodoavias.
Finmeccanica (+1,5%): CDP has announced the birth of an Italian consortium to purchase a minority stake in Ansaldo Energia, a company that Finmeccanica wants to sell and for which it has received an offer from Siemens. Meanwhile, the pressure on the president and CEO Giuseppe Orsi is growing. According to his lawyer, Ennio Amodio, the manager does not intend to resign "unless the government asks him to take a step back". But so far, underlines the lawyer assisting Orsi in the investigation into the alleged bribes for the sale of 12 AgustaWestland helicopters in India, "there is no sign that the government wants to resign him".
Among other themes: good upside of Eni +1,2% which announced the conclusion of the sale of 30% of Snam +0,9% to Cassa depositi e prestiti. For analysts, the six-legged dog can now cancel the holding discount.
Weak Fiat Industrial -0,3% after the independent directors of the subsidiary CNH rejected the merger proposal.
They will be released this morning data on car registrations in Europe. "In September, the market still recorded a decline of 11%," Pierluigi Bellini of Global Insight told Reuters. The Fiat group (yesterday -1%) fares worse than the market and sees a decline of 19,6% on an annual basis, added Bellini. The European market share of the Italian group settled last month at 5,7%, from the 6,3% it had in September 2011. The recessionary picture is now making itself felt heavily also on the German market, "which in September suffers a drop of 11%, after the decreases of 5% in July and August, despite the discounts on the price lists and the strong use of zero km sales”, underlined Bellini.
The banks are highlighted: Unicredit +0,8%, Intesa +0,08%, Mediobanca +1,2%, Banco Popolare +0,7%, MontePaschi +1,8%.
Generali gained 1,2% supported by the promotion of the American broker Keefe, Bruyette Woods (KBW) which raised the rating to market perform from underperform. Asset management also took advantage of it, Azimut +1,6% Sharp reduction of Camfin – 4,1%. In a note, the first official communication since the start of the clash with Marco Tronchetti Provera and Vittorio Malacalza he accuses that "the proposal for a capital increase by Camfin 'was deliberately ignored by the board of Camfin which on August 10th decided not to discuss or comment on it". According to Malacalza, the capital increase "was the subject of a specific commitment by Camfin to the lending banks" and was supported by a 'highly confident letter' from UBS and a commitment by Malacalza Investimenti (which owns 12% of Camfin and 31% of Gpi) to subscribe its share, to finance the subscription by Gruppo Partecipazioni Industriali and to subscribe any unopted shares.
Marcolin lost 12% after the announcement that the private equity fund Pai will acquire 78,39% of the capital from some shareholders and will launch a tender offer on the rest of the capital at 4,25 euros: the price is lower than Friday's closing last (4,78 euros).
