GERMANY SHOCKS THE BULL
FINMECCANICA FLIES THANKS TO PLAN B
In Milan the index FtseMib it rose by 1,8%, exceeding 17 (17.194) with widespread increases throughout the list and in particular among industrial stocks.
La London Stock Exchange salt by 0,72%, Paris +1,02%, Frankfurt +1,11%.
On the market for government bonds we note the outflow of capital from the 139,61-year German Bund, a traditional refuge for difficult economic periods: the futures price dropped to 140,1 (from 1,91 yesterday), the yield rose to XNUMX% .
The yield of our ten-year BTP is 4,39%, spread at 248 (stable).
The confirmation of the next tapering by the Fed did not slow down purchases in the Old Continent. On the contrary, the bull's recovery owes much to the PMI indices which, based on surveys of company purchasing managers, give an indication of the evolution of economic activity in the next three to six months. Above 50 the index shows expansion, below it contraction.
In China, surprisingly, the bar of 50 points was exceeded this morning (from 47,4 to 50,1), easing the risk of recession. But the real propellant of the relaunch comes from Germany where, above all, the indices in August exceeded 52 points, clearly beating the forecasts.
It goes in the opposite direction France. The August flash estimate of the French composite PMI came to 47,9 points, down from 49,1 in July.
A Business Square the exploit of Finmeccanica stands out +6,61%, after the uncertainties accumulated in six downward sessions. The turning point is favored by "plan B" which would have been developed by the management to collect fresh funds in the event that union and political vetoes block the disposals of Ansaldo Energia and Ansaldo Breda. Among other things, the listing of Agusta Westland is expected. Meanwhile, news arrives from Seoul that Doosan is about to launch a 500 million dollar recapitalization, a fundraiser intended to finance the acquisition of 55% of Ansaldo Energia.
Very lively Mediaset + 3,25%.
Among the industrialists, Fiat rises by 2,16% According to the local press, the Turin group has reached an agreement with the Gac group on the production of Jeeps in the joint venture plant in ChangSha.
Among other industrialists StM +1,63%, Prysmian +3%, Fiat Industrial +2,63%.
Banks also rose starting from Unicredit +3,04%. The bank launched a seven-year euro covered bond targeting a yield of 95-100 basis points above the midswap rate. The orders collected so far exceed 1,2 billion euros.
Entente +2%, MontePaschi +0,56%. Banco Popolare scores +3,45%.
Generali is also on the rise + 1,80%. Fonsai recovers +1,64%
Oil-related stocks rose sharply: Eni +1,9%, Saipem +3,28%, Tenaris +1,58%. The Wti-type crude future trades at 104 dollars a barrel (+0,3%).
The luxury segment is also on the rise. Tod's +2%, Ferragamo +1,5%
