THE SHOCK COMES FROM ENEL. HIGHLIGHTS ANSALDO. DEFLATION ADVANCES, MILAN NOT MOVED
Piazza Affari +0,13%, Ftse Mib index at 21.119, Madrid +0,02%. London +0,07%. The negative changes in Paris and Frankfurt (both -0,2%) are slightly more significant. The Stock Exchanges of the Old Continent are starting to close the week with a flat trend. Even the 10-year BTP is moving little, with the yield at 2,45% (yesterday 2,46%).
The euro is unchanged against the dollar at 1,292. The markets, awaiting news on the geopolitical front (Ukraine) and macro data from the USA, meanwhile snub the usual, not comforting news of the euro situation. On the corporate front, the counter-takeover bid by the Chinese of Fusn on Club Mediterranée stands out: 22 euros against the 21 offered by Bonomi. Above all, the market ignores the Italian macro data: in July, industrial production recorded a drop of 1% on the previous month, a much worse figure than expected which indicated a drop of 0,2%.
Compared to the same month in 2013, the drop is 1,8%, economists had expected +0,1%. Italian production is at its lowest since 2009. Meanwhile, deflation is advancing: in August, prices in Italy decreased by 0,2%. Brent-type oil rebounds, rising by 0,6% to 98,69 dollars a barrel. However, the pressure on Eni stock continues -0,8% after the news of the investigations into alleged international corruption in Nigeria.
Matteo Renzi, meanwhile, defends the appointment of Claudio Descalzi. In the spotlight Enel +0,5%. Yesterday evening the board of directors approved the reorganization of the activities in Latin America which provides for the purchase of the majority of the Chilean Enersis (premium on the listing expected in the order of 10%) from the 92% subsidiary Endesa. At the same time, the proposal was presented for Endesa to distribute an extraordinary cash dividend equal to the proceeds from the Chilean company.
In the utility segment, Snam +0,3%. Finmeccanica +1,5% and the subsidiary Ansaldo Sts +2,2% were also very evident: yesterday the number one of Hitachi confirmed his interest in the railway signaling sector in Europe. Among the banks, Unicredit +0,1%, Understanding unchanged, According to the EBA, the capital deficit of the major system banks in the eurozone was reduced to 11,6 billion (against 36 billion a year ago). Monte Paschi Salt +1,6%.
