AFTER THE FED TOKYO ALSO PROLONGES THE STIMULUS
FACEBOOK BOOM: +14% AFTER STOCK
Money rain, da Washington to Tokyodoes not stop.
Last night the fomc, the monetary policy arm of the US central bank, decided as planned to keep market purchases unchanged at $85 billion a month. Also in line with expectations is the decision to leave interest rates at a range between 0 and 0,25%, the all-time low to which they had been brought in December 2008.
This morning the Bank of Japan he confirmed the objective of creating a monetary mass of 700 billion dollars for next year, ie an injection of between 60 and 70 trillion yen in order to bring the inflation rate back to 2%. Imoresa titanic given that the price index is stuck at 0,9%.
The monetary stimulus did not surprise the markets: the "sell on the news" rule prevailed.
A Tokyo the index is down by one percentage point, as is Hong Kong.
After the announcement of the fomc the US stock markets slightly reduced the losses and then resumed their descent: the Dow Jones index closed with a 0,4% drop at 15.616,9, the S&P 500 lost 0,5% at 1.763 and the Nasdaq 0,55 .3.930,62% to XNUMX.
Facebook thought about giving the shivers to the markets. The quarterly accounts of the social newoek are much better than expected: the quarterly profit per share is 25 cents (against the 19 expected) thanks to the boom in advertising on mobile phones, a business which now accounts for around half of turnover. Net income was $425 million on revenue of $2,02 billion, compared with a loss of $59 million in the same period last year.
The title Facebook, jumped 14% in post-exchange trading.
Twitter goes to court before Wall Street. The company would have planned a private sale of its shares, without completing it, just to secure a higher price in the next landing on the stock exchange. Two companies believe they have been defrauded due to the possibility of a purchase which then vanished and have reported the fact today. The attempt could cost $24,2 million in compensation and $100 million in fines.
WEAK MILAN. GOOD BTP, BETTER BONOS
Weak session for the European indices waiting for the FOMC. London ended the session tied, Paris -0,1%, Frankfurt -0,13%, Madrid fell by 0,86%.
Negative closure also for the Milan Stock Exchange with the FtseMib index which falls by 0,47%.
Definitely positive conclusion of the month-end auction round, which saw declining yields and good demand BTP at 5 and 10 years.
But the mood turned sour in the afternoon: the Btp/Bund spread on the ten-year stretch, it widened from 241 to 251 basis points, the highest for about three weeks. In closing, the yield of the ten-year Italian benchmark was 4,188% from 4,149% at Tuesday's close.
In the meantime, the differential with respect to the analogous Bono widened to 12 basis points, which yields 4,068%. Yesterday Spain released the preliminary data on GDP for the third quarter which shows +0,1%, the first increase since the beginning of 2011. On the contrary, Istat confirmed that the third quarter should still show a decline in GDP albeit declining.
BITTER BRAZIL FOR FIAT. MEANWHILE VOLKSWAGEN +4,9% FLIES
Business Square reversed course in front of yesterday Fiat's profit warning. The stock plummeted until it was suspended due to excessive price variance, then gradually recovered to end the session down by 2,3%.
Fiat has revised its estimates for 2013 downwards: trading profit at 3,5/3,8 billion euro, compared to the previous indication of 4/4,5 billion; net income between 900 million and 1,2 billion euro (against 1,2/1,5 billion). In the third quarter, the group recorded a trading result of 816 million euros (against 915 expected). Net profit amounted to 189 million, also below market forecasts. Debt rose to 8,3 billion (at the end of the year it was expected to be between 7 and 7,5 billion). The weakness of Brazil and the lower contribution to the consolidation of Chrysler weighed heavily, penalized by the exchange rate effect.
About the negotiations with the US union on 41,5% of the Detroit house, the CEO Sergio Marchionne said: "We are moving forward with the IPO, there is nothing that continues in parallel, the oxen have escaped". Responding to a question about possible divestments in view of a possible increase in Fiat's stake in Chrysler, Marchionne replied: "We don't have a divestment plan."
The parent company Exor fell together with Fiat -2,5%, while CNH Industrial gained 0,8%.
A completely different film for the sector: yesterday the Eurostoxx sector index rose by 1,9% driven by Volkswagen's exploits +4,9% after the brilliant quarterly results. The group's march continues in China: sales up by 18%, the target of 4 million cars sold in the Land of the Dragon is within reach.
In the negative automotive too Pirelli -2,1%.
In addition to the Lingotto, Finmeccanica -2,62% contributed to dragging down the market: the cancellation of the order in India for 12 helicopters worth 560 million euros seems increasingly probable.
StM it closed down 1,5%.
RCS, TODAY FOR SALE VIA SOLFERINO
Since yesterday, the shareholders' agreement has been officially dissolved RCS MediaGroup -0,61%. "Each participant - reads the note from the group - reserves in full autonomy any decision regarding the exercise of the rights inherent in their shares, expressly including the full right to dispose of their shares free from any constraint of prior pre-emption offer to the others participants". The pact bound 60,274% of the ordinary share capital. An extraordinary RCS board of directors will meet tomorrow to evaluate the sale of the properties in via Solferino and via San Marco.
slips Mediaset -2,86% after the company denied any merger plans between Publitalia and the advertising agency Mondadori -2,23%.
THE BUY BACK SUPPORTS ENI. GTECH BLACK JERSEY
Good performance ofEni up 1,3% after the announcement this morning of better-than-expected third-quarter results and the start of the buyback.
Enel it lost 1,6% and among the other utilities A2A fell by 1,3%.
Telecom Italy it fell by 0,6%.
Positive Luxottica +2,2%, favored by the good quarterly performance.
Good upside of Yoox which rises by 1,2% after the promotion of Citigroup to "buy".
At the bottom of the list was instead Gtech with a drop of 3,4%. Credit Suisse has initiated hedging on the stock with an underperform rating and a target price of 20 euros per share expressing concern about the size of potential cash outflows linked to up-front payments and further negative regulation in Italy.
In the group Benetton positive World Duty Free +1,1% after Citigroup started hedging with a buy judgment and target price at 9,30 euro. Autogrill rose by 0,6%: Citigroup raised the target price to 7,9 euros from 6,25 euros, confirming the buy opinion.
SAVINGS DAY IS NOT GOOD FOR AZIMUTH -2,5%
Contrasted the sector of bank stocks: Unicredit -0,1%, MontePaschi -1,2%, Intesa -0,7%, Banco Popolare +0,6%.
bpm -014%.
Between the insurance, Generali -0,9%, Fondiaria-Sai gained 0,6%.
Azimuth fell by 2,5%: Deutsche Bank cut the rating to hold from buy.
