BAGS: MILAN THE WORST, MADRID THE BEST
FINMECCANICA FLYS, RATING AT RISK FOR FIAT
The European stock exchanges, driven by Wall Street. Business Square, after a very negative day under the double effect of Italian and Syrian political tensions, he recovered only halfway.
Finally in Milan the Ftse/Mib index yields 1,35% to 16712.
Most of all, as always happens in such moments, he suffers Mediaset (-2,5%).
Things are better for other European markets: London +0,1%, Paris +0,16%, Frankfurt +0,19%. Madrid, once again the best, +0,53%.
The spread between the BTP and the German Bund. The yield differential stands at 249 basis points with the ten-year rate at 4,43%. The Bonos-Bund gap is 251 basis points with the yield on Iberian government bonds at 4,45%.
A Wall Street positive indices: Dow Jones +0,65%, S&P 500 +0,75% and Nasdaq +0,85%.
Il trade balance deficit it rose to 39,15 billion in July from -34,5 in June which was a four-year low.
The market is waiting for the Federal Beige Book while the debate continues in Congress on a possible go-ahead for military intervention against the regime of Syrian President Bashar al-Assad. Even in the event of a green light from Congress, the attack is not imminent, we'll talk about it again in 10 days: meanwhile, the G20 opens tomorrow in St. Petersburg.
Treasury prices are mixed, with the 0-year benchmark dropping 32/XNUMX.
It recovers better than all Telecom Italia, unchanged on closure after losing up to 3,7%. The title reverses course after five consecutive upward sessions. This morning Ubs cut its target price to 0,34 euro from 0,45 euro, the recommendation remains "sell".
Enel it is down by 2,19% following the issue of two very long-term bonds, also known as hybrids, for 1,25 billion euros and 400 million pounds. Enel Green Power-2,32%, A2A-3,33%, Terna -1,84%.
Eni loses 0,29%.
They move back banks. Intesa-1,5%, Unicredit-2,32%, Ubi +2,42% Mediobanca-3,69%, Banca Popolare dell'Emilia Romagna -3,73%.
Banca Carige marks a decline of 3,5%. Today the Carige Foundation, the body that controls 47% of the bank meets to make a decision regarding the next board of directors, the Bank of Italy has asked for a strong renewal.
Insurance is also heavy. Generali -1,37%, Fondiaria Sai -2,91%.
Among industry stocks, Finmeccanica rises by 3,58% thanks to a series of news and indiscretions. The subsidiary Drs has been awarded a contract with the US Army with a potential value of 455 million dollars. A second order, worth 440 million euros, was won in South Africa by a group of companies which Ansaldo Energia is a part of. Finally, there is talk of pressure from the government so that Finmeccanica sells Drs.
Stm loses 0,23%.
Fiat is down 0,43%. Green light for investments of one billion at Mirafiori for the Maserati SUV. According to Moody's, Fiat's rating is at risk due to the slowdown in Brazil. The same condition for Renault, which is affected by the slowdown in the Russian market.
In the field retail/luxury, Luxottica -2,81%, Ferragamo salt -+0,31%, Tod's -0,79%, Yoox -0,8%, Brunello Cucinelli -0,8%.
