FIAT BOUNCES, POSITIVE BANKS AND GENERALI
THE REFERRAL TO GREECE DOES NOT PUNISH BTPs
After a slightly declining start, the Milan Stock Exchange absorbs the disappointment of the new postponement of the agreement on Greece. The FtseMib index rises by 0,29% to 15.314, also thanks to the partial recovery of Fiat + 1,57%, after having lost almost 5% yesterday.
The London Stock Exchange rises by 0,24%, Frankfurt +0.05%. Paris falls by 0,02%.
The euro recovers from this morning's lows (1,274) and is trading at 1,277 against the dollar, up from 1,281 at last night's close.
The BTP held up well with the yield at 4,87% and the spread at 346 (+ 4 basis points).
In Piazza Affari, the price variations between blue chips are contained.
Among the banks, Unicredit 0,06% salt, Understanding + 0,66% MontePaschi drops by 1,34%. Banking Popular di Milano salt of 0,68%.
Positive Generali , up 0,48%. Positive too Mediolanum + 0,62%.
In reverse, Unipol it falls further by 0,6%.
Among industrial stocks, Finmeccanica 0,4% salt, Pirelli + 1% StM +0,13% . Down Parmalat -1,32%.
Luxottica earn 0,07% . This morning the broker Cantor Fitzgerald brought the target price to 33 from 30 euros, the judgment confirmed buy. Yesterday the stock reached a 12-month high at €30,56. Cantor Fitzgerald's report states that Luxottica deserves its current valuations as its earnings growth prospects "are formidable".
Meanwhile, to remain in the Del Vecchio galaxy, Stable Goods yesterday signed a preliminary agreement for the sale of a property in Rome, not far from Piazza di Spagna, for a consideration of 40,5 million euros, in line with the market value as at 30 September. In this way, the total of Beni Stabili's preliminaries rises to 125 million euros, which added to the sales already closed brings the total of 2012 sales to 179 million euros, already beyond the target for the year (150 million).
Among the minor titles, in great evidence Ancient Leather Goods which celebrates the general agreement reached with the banks for debt restructuring: in the volatility auction the company marks a theoretical increase of 18,13%.
