EXCHANGES RECORD, BTP RATE AT 4,46%
VOLA STM, TELECOM POSTPONED TO OCTOBER
The surprise withdrawal of the candidacy of Larry summers from racing to driving the Federal Reserve gave breath to the markets. The agreement on Syria also contributes to the recovery.
In Milan the FtseMib index it rose by 1% to 05, preceded only by Frankfurt +17731%: during the day the Dax index of the German Stock Exchange marked a new all-time high.
Paris gains 0,82%, Madrid +0,68%. The City climbed 0,59%. On the European Stock Exchanges, the rise was driven by insurance stocks (Stoxx of the sector +1,4%) and construction stocks (+1%).
The German Allianz rises by 2,5%, the French Axa gains 1,8%.
In Milan Generali increases by 0,84%, Fondiaria-Sai +1,17%.
In New York the indices Dow Jones and S&P rose 0,8%, the Nasdaq advanced 0,3%.
The dollar is weak with the euro rising to 1,335 (up from 1,329 on Friday night). In tomorrow's and the day after tomorrow's meeting, the Fomc, the Fed's monetary policy committee, should approve a moderate revision of the economic stimulus policy, reducing the bond purchase program from the current 85 billion dollars a month to 75/70 billion .
In the afternoon, the data on the US industrial production in August, up 0,4%, perfectly in line with forecasts.
Even more significant are the positive news of the money market.
The Italy/Germany yield differential on the 258-year bond, yesterday evening it reached the lows of the session in the area of 263 basis points, below the 4,46 bp of the closing on Friday evening. The ten-year rate stands at 4,58% from the previous 3%. The gap between the Italian and Spanish ten-year yield has narrowed: after having widened up to about ten basis points, tonight it narrowed to just XNUMX basis points.
The yield on the 2,78-year US Treasury fell today to 5% (-3bp) from the XNUMX% it touched at the beginning of September and the highest level for two years.
Among the best titles is StM which net of the detachment of the dividend rises by 3,81% on the rumors according to which Google would adopt one of its processors within the Google TV programme.
Recommended Mediobanca which rises by 1,29% on the eve of the accounts for the entire 2012-2013 financial year.
Among others banks Unicredit goes up by 1,84%, Intesa +1,22%, MontePaschi goes down by 0,58%. Positive cooperative banks: Pop.Milano +0,95%, Ubi +2,37%.
Finmeccanica gains 1,01%, Pirelli rises by 1,48%, Tenaris +1,84%.
Enel up 1,3%, Eni positive +0,23% despite the drop in oil prices.
Gtech salt by 2,18%.
On the downside:
- Telecom Italy which drops by 0,82% after the downgrade of Citigroup which cut the rating to "sell" from "neutral". In the meantime, the board of directors already scheduled for 3 September has been postponed to 19 October. 'There is no specific reason - commented the chairman Franco Bernabé - two boards of directors had been convened shortly after and we decided to do so on 3 October'. The meeting of the directors will be held after the closure of the window foreseen for the cancellation of the agreement, set for 28 September.
– Down too Fiat -0,34%: the lack of agreement for the purchase of the share in Chrysler owned by Veba weighs on the quotations.
