Effervescent Blue Chips at Piazza Affari: the Ftse Mib gains 2,45% driven by Generali but also Telecom Italia and A2A. Among the banks in evidence the Bper and Mediobanca.
In closing, the Milanese list confirmed itself as the best European market on a positive day for the markets: Frankfurt +1,10%, Paris +0,93%, London +0,74%.
The Btp-bund spread closes after a peak above 320 points and closes at the opening levels at 317. The euro regains ground against the dollar and rises to 1,2981.
The injection of confidence on the price lists was favored by an ECB which, despite having confirmed the downward revision of the 2013 growth estimates, said it optimistic about the gradual recovery in the second half of the year. While waiting for the EU summit on austerity and growth to kick off this evening in Brussels, Europe has drawn impetus from the good performance of the US stock market with the Dow Jones +0,47% which set a new record above 14.500, at its tenth consecutive session of increases. The S&P index +0,38% and the Nasdaq +0,37% also performed well. Highlight the banks.
Market confidence benefits from surprise drop in weekly US jobless claims. The data on the current account deficit was also better than expected, while the raw producer price index was in line with expectations. In the Old Continent, on the other hand, signs of an improvement on the employment front are lacking. Eurostat numbers released today indicate that the number of employed people in the Eurozone fell in the fourth quarter of 2012 by 0,3% compared to the third quarter. In 2012 the decrease was 0,7%.
Generali under "Greco management" conquers the scene on the Milanese price list: the leap is 9,35% to 13,3 euros thanks to a better than expected operating profit and the CEO's intention to gradually increase the dividend. And so the market is also promoting the mega clean-up of the financial statements, which is also expected, which has reduced the profit for the year by over 80% to 90 million. Mediobanca +5,99% and Bper +7,09% also run among the banks, which however closes 2012 with a net loss of 32,6 million euros (+237,359 million in 2011) due to the high level of provisions on loans on a prudential basis. You confirm the capital solidity with a Core Tier 1 ratio of 8,27%, the low financial leverage and the good liquidity position. Rcs, suspended due to excess increases, rose by 6,6%.
Also highlighted is A2A +6,25%: the accounts that mark a return to profit in 2012 (+260 million euros) against a loss of 423 million in 2011. A coupon of 0,026 euros per share is proposed (double that of 0,013 distributed in 2012). Enel Green Power +5,58%.
Telecom Italia rises by 5,57%.This morning Fitch confirmed Telecom Italia's BBB rating with a negative outlook due to the weakness of the Italian economy. Today the Agcom Board approved a draft provision relating to the approval of the reference offer for 2013 of the unbundling services on the Telecom Italia copper network. In the draft provision, which will be subjected to a public consultation among the interested parties, the offer conditions have been defined which refer to the monthly rental fee that the alternative operators (OLOs) pay to Telecom Italia.
Eni +3,12% after the announcement of a new shareholder remuneration policy which envisages a progressive dividend (€2013 in 1,10, +2% on 2012) and a new buyback programme. "With the sale of Snam we are a different company: more Exploration & Production and less regulated, more growth and more volatility, less debt and more liquidity", said the CEO of Eni, Paolo Scaroni, who today presented the 2013 strategic plan -2016 illustrating the new remuneration policy.
Among the smaller stocks, Reply rises (+2,55%) which closed the 2012 financial year with a consolidated turnover of 494,8 million euro, up by 12,4% compared to the 2011 financial year. The net result was equal to 27,1 million euros (+12,2%). A dividend of €0,57 per share is proposed.
At the bottom of the Ftse Mib bucking the trend Bpm -2,7%, Ubi -1,47%, Tod's -1,33%, Pirelli -1,14%.
