USA CRISIS: THE DOLLAR SLIDES, THE STOCKIES DOWN. FINMECCANICA TODAY SELLS ANSALDO ENERGIA
The curtain falls on the Italian political crisis, and the tug of war takes place on Capitol Hill between Barack Obama and Congress. Nervousness about Washington's stalemate grows. The Asian price lists, as has not happened since the end of August, close the week in the red.
Tokyo -0,16% limits the damage thanks to the improvement in confidence that emerged from the Tankan and reaffirmed at the central bank meeting. Hong Kong -0,5% (Chinese listings closed) and the Korean Stock Exchange did worse Samsung anticipated the data for the third quarter, the best in its history: profits of 9,4 billion dollars (+6%).
On Wall Street, where until yesterday the expectation of a quick and painless solution prevailed (except for the bears in Yellowstone park, closed due to lack of funds), fears the appearance of the bear on the stock market. International Monetary Fund managing director Christine Lagarde said that "failure to raise the US debt ceiling could hurt not only the US, but the rest of the world economy."
Meanwhile, the crisis is weighing on the dollar, which has slipped to 1,3625 against the euro, the lowest since the beginning of February. The US stock market indexes closed down: the Dow Jones dropped 0,9%, the Nasdaq 1,07%, the Standard & Poor's 500 0,8%.
But even in Washington there are doves: the leader of the Republicans in the American House, John Boehner, has told members of his party that he does not intend to let the country go into default. The news was reported by the New York Times, quoting a deputy of the Grand Old Party who wished to remain anonymous. Boehner also reportedly said he was willing to approve a measure to raise the debt ceiling with the votes of both Republicans and Democrats.
Meanwhile Twitter has taken another step towards the listing: yesterday evening, as already anticipated by a tweet, the official file was presented to the Sec.
EUROPE IN DOWN, RECORD FOR SPANISH BONOS
The stalemate in the USA also continues to weigh on European lists: bad Paris -0,73% and Frankfurt -0,39% while London managed to close at +0,02%.
The Milan Stock Exchange retreats after two consecutive rising sessions, the Ftse Mib index, which yesterday reached its highest level in the last two years, ended the session with a drop of 0,44% to 18.018 points. Piazza Affari remains above the threshold, not only psychological but also graphic, of 18.000 points.
Calm situation on the government bond market where this morning Spain placed 1,17 billion euros of 10-year bonds at the lowest rate in the last three years. The yield of the ten-year BTP is 4,36% (+1 basis point), spread at 256 (+2 basis points).
TELECOM, AFTER BERNABE' HAS BEGUN
It was the day of Franco Bernabé's resignation from Telecom Italy +1,7%. Following his resignation, reads a note, the board of directors "started the process aimed at identifying the new president" and provisionally attributed Bernabé's powers to the current CEO Marco Patuano. The management of the board is instead entrusted to the vice president Aldo Minucci. In place of director Elio Catania, Angelo Provasoli, president of RCS (director of Telco expression, reference shareholder of Telecom) was co-opted to the board. Director Jean Paul Fitoussi was appointed chairman of the control and risk committee and of the nomination and remuneration committee (the latter acting as a substitute), again replacing Catania.
Bernabé will receive a total of 6,6 million euros from the company. In detail, 3,7 million euros represent, as contained in the remuneration report for the 2012 financial year, the treatment to which Bernabè "would have been entitled until the natural expiry of the mandate (fixed and variable remuneration, benefits and other of the tax charges applicable to the taxed benefits). The other 2,9 million euro is the consideration for the non-competition agreement, with a duration of 12 months, the stipulation of which was approved by the board of directors, in line with the possibility provided for by the existing contract.
The race continued Finmeccanica +3%, after yesterday's +7%. Uil issued a press release stating that the company is holding a board meeting today at 16 pm dedicated to the Cassa depositi e prestiti (Cdp) proposal for a "significant stake", around 85%, of Ansaldo Energia. In a second moment the entry of the Koreans of Doosan is not excluded.
Ansaldo Sts it gained almost 2%.
FIAT, FOR FITCH RATING AT RISK
Fiat -1,5%. Sergio Marchionne said talks of buying Fiat's Veba stake in Chrysler were continuing, but there were no improvements. For Fitch analysts, if Lingotto had to pay out 5 billion dollars to buy Chrysler's minorities without making a capital increase, there would be a negative impact on the rating. However, the impact would not exist if the difference between the outlay for Chrysler and a capital increase did not exceed 2,5 billion. In both cases, the outcome is negative for equity: in the first case there is a downgrade, in the second a recapitalisation.
Industrial Driver's License -3,2%. The company announced the launch of a $500 million bond.
UNICREDIT EXPANDS IN POLAND
Among the banks, Banca Popolare di Milano + 4 % Understanding -0,8% Mount Paschi + 0,2%. Unicredit -0,7%. The bank confirmed that it has presented a preliminary purchase offer for the Polish BGZ and that it is evaluating the sale of the banking business in Ukraine. In the segment of financial and insurance companies. Mediolanum + 2,4% Unipol + 2,8% Fondiaria Sai + 2,8%.
Little moves World Duty Free e Autogrill. Positive closure for the luxury sector Luxottica + 0,2% Ferragamo+ 1,2% Yoox +1,4%. Out of the main basket, Rcs +5% after the CEO, Pietro Scott Jovane, said that he continued on the path of exclusive negotiations for the sale of the offices in via Solferino and via San Marco in Milan.
On the rest of the price list it is also noted Cairo communications +4,06%: analysts appreciated the advertising sales of La7 (+3,5% in the third quarter) and consequently confirmed their positive recommendations.
