REPORTS SUPPORT BANK SECURITIES
BUT MEDIASET AND TELECOM ARE BEING CLICKED
Starting up and down the week for the Milan Stock Exchange where the FtseMib index is now in perfect balance at odds of 17.554.
Le banks benefited from widespread target price increases by the two French brokers Société Générale and Exane: Unicredit +1,13%, BancoPopolare +1,4%, Ubi +1,06%. Understanding is tied.
From today on International Monetary Fund will be in Italy for the final meetings with the main Italian banks (including cooperative banks) to verify the real status of the credits (particular focus on real estate ones) and the respective coverage. At the same time, the Bank of Italy's inspection of the main 25 institutions continues and the first rumors confirm a strong moral suasion from the regulator so that the banks raise the coverage on problem loans already with the 2012 financial statements.
The European Stock Exchanges are positive in the first session of the week, coinciding with the meeting of EU economic ministers in Brussels. Frankfurt is not affected by Angela Merkel's electoral defeat in Germany.
also the London and Paris Stock Exchanges rose by 0,2%, Frankfurt +0,37%. The luxury giant Richemont slips in Zurich (-5,91%), which closed the 3 months in December with lower-than-estimated sales in Asia. Swatch was also weak (-2,31%).
In Europe the best stocks are utilities (Stoxx of the sector +0,8%) and tech (+0,4%). The media are down (-0,8%).
The euro is down this morning against all currencies: traded at 1,330 against the dollar, from 1,332 at Friday's close; against the Swiss franc is indicated at 1,2419 from 1,2443 on Friday. Against the pound the exchange rate is at 0,8383 from 0,8393.
On the government bond market, the Btp to 10 years is stable with the yield at 4,17% and the spread unchanged at 258.
Piazza Affari only partially reflects this climate with the fall of Mediaset -2,97%, downgraded by Deutsche Bank which cut the rating to “hold” from “buy”. Heavy too Mondadori -3,8%.
Bad too Autogrill, down 1,08%: Natixis cut the rating to “reduce” from “neutral”.
Among the lowest-bearing blue chips, Finmeccanica fell 1,53% after S&P downgraded its rating to junk bond level.
Telecom Italy loses 2,55% after a report by Morgan Stanley that casts doubts on the stability of the dividend in the coming years. On the Telecom Italia Media front, the renunciation of Equinox is looming.
Negatives luxury stocks: Luxottica -0,45%, Ferragamo -1,28%
Positive StM +0,24%, Fiat +0,62%, Pirelli +0,6% and Fiat Industrial +2,29%.
