SLIDE UNICREDIT. SNAM AND TERNA CELEBRATE. EXCHANGES SUSPENDED IN ATHENS AND KIEV, OIL DOWN
The meeting of the Eurogroup dedicated to Greece began at 16,30. However, President Jeroem Djissmbloem said he did not expect concrete results from the summit. Meanwhile, the Greek government has made it known that it can count on Russia's help and has widely publicized the phone call from Chinese premier Kequiang.
Instead, the delicate Minsk summit is underway in which a solution will be sought to avoid a war in Ukraine. Meanwhile, however, tension is also rising in Syria: US President Barack Obama is asking Congress for authorization for the use of force.
In this context, the nervousness of the financial markets is not surprising. In Milan, the Ftse Mib index drops by 0,77%. Paris -0,43%, Madrid -1,39% and London -0,21% are also down. Better Frankfurt -0,03%.
Athens, in sharp decline, leaves 4,02% on the ground. The American stock market is currently recording a slight decline, after yesterday the S&P500 index had reached its highest levels since the beginning of 2015. Tensions remain on the markets due to the situation in Greece and Ukraine. The Dow Jones falls by 0,2%, the S&P500 index falls by 0,1%, the Nasdaq rises +0,3%.
Apple +1,3%, meanwhile, reaches a new all-time high. The euro/dollar exchange rate is at 1,130, little moved compared to yesterday's close at 1,132. On the government bond market, the 5-year Greek bond is trading at a yield of 15,84%, from 15,13% yesterday. The ten-year spread widens by another 35 basis points. In the morning Athens collected 1,032 billion in 13 weeks at a rate of 2,50%. The 1,66-year BTP is stable at 130%. Spread with the Bund at 12 points. This morning, during the auction, the 2,09-month Bot was placed at XNUMX%, a new all-time low.
Oil is down again: Brent falls by 2,2% to 55,1 dollars a barrel, Wti to 49,4 dollars (-1,2%). While awaiting the Mps accounts, the drop in Unicredit stands out - -4,2% after the 2014 results: the impact of the Russian and Ukrainian crises had an impact of 1,1 billion on the accounts for the year. The institution ended 2014 with a dividend of 12 cents, however proposing a script dividend instead of cash.
Intesa rises by 0,8%, MontePaschi -1%. Among the popular ones, Pop.Milano cinemas +1,5%, down Ubi -1%. Energy stocks took care of limiting the damage: the Constitutional Court rejected the Robin Hood Tax, introduced in 2008 as an additional IRES on companies in the sector, with an annual levy of 1 billion euro. Snam +3,3% and Terna +3,8% run. Citigroup promoted both stocks bringing the judgment to Buy: Snam's target price was raised to 4,40 euros from 4,0 euros, that of Terna to 4,15 euros from 3,20 euros.
Enel Green Power rises by 2,5%. Enel +1%, Iren +3,5%. Oil is down again: Brent falls by 2,2% to 55,1 dollars a barrel, Wti to 49,4 dollars (-1,2%). The drop in crude oil affects the prices of Eni -2,2%, Saipem -2,4% and Tenaris -1,7%. Telecom Italia drops by 1,5%.
