MONTE PASCHI LEADS THE FINANCE RALLY
THE EURO, THE REDEMPTION ON THE DOLLAR AND THE FRANC IS ADVANCING
Long live the euro. There single currency, after starting the greek buyback and the go-ahead for aid to Spanish banks, it takes its revenge: it rises for the fifth consecutive day against the dollar, reaching 1,308 from 1,305 yesterday evening; cornered the Swiss franc at 1,214, at its lowest in five weeks.
La Milan Stock Exchange is up, the Ftse Mib index closes above 16 (16.041) +1,04%. London is down 0,12%, Frankfurt -0.06%. Paris closes at +0,32%.
The improvement of the government bonds of peripheral countries: the yield of the 10-year BTP is down again this morning to 4,40% with the spread at 299, from 303 at the closing yesterday evening. The Bund yields 1,41% (-1 basis point).
Wall Street opens mixed and not far from parity, with the blue chips below 13.000 points. Dominating is the uncertainty about the outcome of the debate on the fiscal cliff. President Barack Obama rejected a proposal by Republican lawmakers that included tax reform and public spending cuts, but did not contain tax increases for the wealthier classes, which is the White House's strong point.
Il Dow Jones advances by 0,3%, the Nasdaq drops by 0,13% and lo S & P 500 marks -0,02%.
Goes down Apple Lossless Audio CODEC (ALAC), -1,2%, Google loses 0,4%. Intel earn 1%.
Nothing done in the EU for the new banking supervision rules. A new meeting of European finance ministers was convened on December 12 by the Cypriot presidency to find "a political agreement". On the 13th at 10 in the morning the finance ministers of the Eurozone will meet to discuss the 'buy back' of the Greek debt and the loan to Cyprus.
The news didn't stop the euro zone bank index from climbing 1,8%. The Spanish Bankia, after the European OK to aid, rebounds and rises by 7%. But it is above all the Italian credit institutions that stand out, starting with Monte Paschi + 7,26%, after a postponement due to an excessive increase, the most involved in sovereign government bonds.
The Stoxx sector index rose by 0,7%. Unicredit gained 2,51%, Intesa Mediobanca +1,9%.
Strong earnings for too Ubi + 3,8% Pop.Milan +2,29% and Banco Popolare + 2,2%.
- positive effects of the spread they also affect insurance companies: Generali rises by 1,77%, Fondiaria-Sai +1,1%, Unipol +0,7%.
Both are advancing in asset management Azimuth +1,55% that Mediolanum + 1,44%.
Positive data on car sales in Brazil (market share up to 24%) push Fiat up 0,79%, despite the continued fall in sales in Europe.
Finmeccanica rises by 2,19%: the French Safran presented a new offer for Avio, the aeronautical company 14% owned by the holding.
Telecom Italy +1,79% two days after the board meeting.
Among mid-cap stocks, Rcs rises by 3,2% and a strong recovery of Maire Tecnimont +5,2% which announced a new order of 191 million dollars in Mexico.
