Employment in the private sector in America is on the rise: in November the number of employed people rose by 215 units, much better than the 170 expected. And the Stock Exchange, sniffing the risk of tapering, goes down. The data on the sales of new homes in September are disappointing (354 against the 425 expected). And the markets breathe a sigh of relief: the start of tapering may not be anticipated.
The Dow Jones dropped 0,38% to 15.854 points, the S&P500 dropped 0,45% to 1.787 points and the Nasdaq lost 0,27% to 4.026 points. London lost 0,3%, Paris -0,5%, Frankfurt -0,9%. The Milan Stock Exchange closed with the FtseMib index down by 0,2%.
The fear of an early reduction in monetary stimuli made itself felt on the bond market with a general rise in yields: the 10-year German Bund rose to 1,81% from 1,72% on the previous day. The 2,85-year t bond rose to a yield of 10%. The 4,15-year BTP rose to 4,08% from 233%. The spread with the Bund even narrowed to 3 (-5 basis points). Spanish 2017-year auction today: Madrid is offering 2018 and 3,5 bonds for amounts up to XNUMX billion.
In Piazza Affari the worst title was Mount Paschi -5,2%, influenced by rumors according to which the MPS Foundation would like to sell its stake before the next shareholders' meeting on 27 December.
From the sale of the package of hybrid securities of the subordinated convertible Fresh 2008, which took place between 19 and 27 October, the entity that owns a 33,5% stake in Rocca Salimbeni would have collected 95,2 million. The other banks moved little: Understanding + 0,06% Banco Popular + 0,3% Unicredit + 0,1% Mediobanca -1,2%.
On the other hand, a positive performance was noted by Fiat +1,71%, which accelerated upwards towards the end of the session, marking an increase in volumes. As reported by analysts, there was no particular news on the title. An analyst then cited rumors that sales are in sight to finance the purchase of Chrysler's minority interests, while another expert reported that tomorrow the CEO of Lingotto, Sergio Marchionne, will participate in a conference on cars organized by Goldman Sachs in London. GS has also suspended coverage of the stock.
Purchases on Pirelli +0,91% with Exane which has restarted coverage with outperform rating and target price of 14,5 euros per share. They go down Prysmian -2% and Ansaldo -1,4%.
In view of the Telecom Italia shareholders' meeting, called to resolve on the request for revocation of the board of directors in office advanced by the shareholder Findim, the Ecgs (Expert Corporate Governance Service) proxy advisor recommends institutional investors to vote against the zeroing of the board.
The Telecom Italia assembly of 20 December may not cause the current board to lapse, but Marco Fossati's battle to push Telco out of the control of the Italian group will continue. Fossati himself said so on the sidelines of a conference of Telecom Italia small shareholders in Rome.
In decline Enel -0,3% and other utilities: A2A -2,5% Enel GreenPower -0,8%. Despite the rise in oil, Eni it fell by 0,3%. The subsidiary Saipem gained 0,2%. After three consecutive sessions on the rise, US crude oil WTI rose again by 1% to 97 dollars a barrel. Brent at 112,7 dollars (+0,1%).
Sharp decline of Rest -2,9%: the Benettons have denied wanting to sell a stake in the company. World Duty Free -0,06%. Limit the damage Mediaset -1,2%: after Nomura cut the target price from 3,65 euros to 3,5 euros, and closed down 1,25% to 3,16 euros.
