Final in style for the European markets after a mixed day. In Milan, on the day of the Italian council of ministers, the Ftse Mib index closed at +0,72 at 16232. while in Berlin +1,41% and Paris +1,55% work is being done on drafting the possible agreement for Wednesday .
There is attention to bailout plan for European banks which the countries of the Eurozone are discussing these days: according to some sources, a "voluntary agreement" is in the offing with the banking system to devalue the nominal value of Greek government bonds by 40%. This would be a worst case scenario than the 21% already agreed, but better than the 50% requested by Germany and the 60% indicated in the latest rumors. The Greek stock market falls by 5%.
Lo BTP/Bund spread it moves on the highs of this morning at 387 basis points.
The run of the euro stopped, trading at 1,383 against the dollar, from 1,389 on Friday evening, previously, the European currency had appreciated for four consecutive days.
The securities of Italian banks contrasted: Intesa -0,86%, Unicredit -0,55%. Bpm lost 3,35%. The bank's travails did not end with Saturday's meeting. After winning the Friends of Bpm list, the Bank of Italy has stopped the appointment as managing director of the current general manager Enzo Chiesa, appointment foreseen by the Friends program. Among the final super insurance for Fondiaria 3,24%; Generals +0,40%
The best blue chip is Impregilo +6,89%, supported by hypothetical changes in the shareholding structure. Excellent session also Stm +3,51% which tonight, with Wall Street closed, will announce the results of the third quarter.
Among the industrials, Fiat Industrial stands out +5,87%, driven upwards by the good results of Caterpillar. Fiat makes +1,87%, Exor +1,5%, Pirelli +0,5%.
Edison is down 5%. Edf said this morning that it will ask Consob to be exempt from the takeover bid. The offer to Italian shareholders is a three-year put for a price calculated on the average of a basket of securities in the sector plus the swap between Edison renewable energies against the shares in Edipower held by Iren and A2A-1,99%.
In Europe, commodity stocks rose, driven by the prospect of a return in Chinese demand, the sector index marks a rise of 2,5%, cement manufacturers also did well, rising by 1,5%.
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Wall Street accelerates upwards supported by company merger announcements and by Caterpillar's quarterly results above expectations: Dow Jones +0,8%, S&P500 +1,2%, Nasdaq +2%. The three indices leap to levels not seen since the beginning of August.
Among the acquisitions announced today are Oracle's offering of RightNow Technologies and Cigna's offering of Healthspring. Meanwhile, reveals The Wall Street Journal, Google has contacted two funds to kick off the purchase of the core business of Yahoo!.
Good increases for raw materials, supported by the prospect of a recovery in Chinese demand. Gold climbed 1% to $1.653 an ounce. Oil is doing well, the Wti rises by 2,9% to 89,9 dollars a barrel.
The dollar lost ground against the euro and was traded at 1,394 on expectations of a strengthening of the bailout fund circulated in the afternoon.
