Il US employment boom pushes Wall Street and helps Piazza Affari to forget the electoral uncertainties. Milan rises by 1,5% driven by some titles that have meshed with the fifth. Fiat leaps by 5,53% thanks to the achievement of the agreement between Lingotto and the unions and Finmeccanica by 5,50% after the reorganization of the control procedures. Paris +1,22%, London +0,69%, Frankfurt +0,59 .2,85% and Madrid +XNUMX%.
Good in the morning too Tokyo Stock Exchange rising by 2,64% to 12.283,62 points, the highest since September 10, 2008, thanks to a further drop in the yen against the dollar on investors' expectations of monetary easing by the Bank of Japan at next month's meeting.
Lo Btp-bund spread eases tensions and returns to 307 basis points. After falling below 300 after the US unemployment data. Next March 12, the Treasury will offer annual BoTs in auction for an amount equal to 7,75 billion euro. As there are no specific cash requirements, says the Treasury, quarterly BoTs will not be offered. The quantity offered is lower than that expiring since on 14 March BoTs for 8,685 billion euros will expire.
Investors' cleaver this time fell on the UK and France with Norway's sovereign wealth fund trimming its exposure to both countries' debt after posting its second-best year in terms of returns thanks to equity investments.
The euro slides against the dollar to 1,2986 (-0,96%) with the greenback benefiting from the boost of data on new jobs in the US which beat analysts' expectations. The US economy created 236.000 jobs in February and the unemployment rate dropped to 7,7% from 7,9% in January. The Dow Jones intraday broke a new record above 14.400 points. At the close of the European market it rose by 0,29% to 14.370 points and the Nasdaq moved just above parity. According to the WSJ, 2013 will be a year full of dividends and buybacks for S&P 500 companies to distribute at least $300 billion in dividends and which announced buyback plans of $117,8 billion in February, the most monthly figure since 1985 .
Il Wti oil drops to 91,14 dollars a barrel (-0,44%). According to the OECD, the price of Brent could rise to 190 dollars a barrel by 2020, much higher estimates than other official forecasts and which raise fears that oil prices could represent a burden on growth.
In Italy the Study Center of Confindustria once again sounding the suffocation alarm with a third wave of credit crunches after those of 2007-2009 and 2011-2012: the Italian economy is blocked by a lack of credit with "loans to businesses have been falling for over a year: in January -5% compared to the peak of September 2011 (seasonally adjusted data, at current prices)”. The stock disbursed decreased by 46 billion euro: "an unprecedented event in the post-war period". For the csc, a measure that can unblock the credit stalemate is "the immediate payment to businesses of 48 billion euros of commercial debts of the PA".
In Piazza Affari puts the Fiat turbo +5,53%, after being suspended upwards to 11%, thanks to the reaching of an agreement between the Lingotto and the unions Fim, uilm, Fismic, Ugl and Associazione Quadri, regarding the renewal for one year of the collective agreement for the employees of the Italian plants of the group. Finmeccanica also flies +5,50% following the go-ahead by the new managing director of the group, Alessandro Pansa, of the new procedures that centralize controls on the activities of the subsidiaries in the holding company. Among the new features are the new honourability requirements for members of corporate bodies, directors and statutory auditors.
Also in the light Mediaset +4,39%, A2A +4,17%, Enel Green power +4,12% Gemina and Atlantia suspended for the entire session pending the announcements from the Boards on the merger. At the bottom of the FtseMib Diasorin -6,43% which closed 2012 with a consolidated net profit of 89,5 million euros, down 10,1% compared to the previous year. The BoD will propose the distribution of a dividend of 0,50 euro per share. Autogrill -3,84% following the 2012 accounts which archived a net profit of 96,8 million, down from 126,3 million in 2011 and after announcing that there will be no dividend.
Azimuth -1,63% after the cut by Cheuvreux to underperform and Campari dropped 0,51% following the accounts and affected by the cut in the target price of Ubs to 5,3 euros which confirms the sell opinion.
Mps -1,63% countertrend in the banking sector with Intesa +1,69%, Unicredit +2,81%, Ubi +1,27% and Banco Popolare +2,95%.
Saipem climbs 3,05% after the president of Eni (-0,11%), Giuseppe Recchi stated that the company is not evaluating any spin-off hypothesis of Saipem, in response to the letter fund shareholder Knight Vinke to the six-legged dog which asked Eni a spin-off.
