The dam of Piazza Affari is holding, supported by the positive data published this morning by Istat on the consumer confidence. The indication arriving from Germany has the opposite sign: the Ifo index, a measure of business confidence, fell to 104,7, down for the fifth consecutive month. The index Ftse Eb (+0,21%) advances to 20.395. Paris +0,13%. The other European lists are in negative ground: Frankfurt -0,22% London -0,27% Madrid -0,80%.
In the afternoon, the Italian Treasury will announce the details on the medium-long term securities in auction on Monday. Yesterday evening the ministry announced that on Friday it will offer 7 billion euros of six-month BOTs at auction. The yield differential between Italian and German ten-year government bonds rises to 140 points for a 10-year BTP yield of 2,42%.
Featured on the Ftse Mib Telecom Italy (+1%) on the eve of the BoD dedicated to strategies in South America. Tim Brazil has been accredited for the 4G auction, unlike the Brazilian operator Oi, news that has revived speculation about upcoming M&A operations.
"The decision may signal Oi's confidence in a consolidation of the mobile sector", explain the analysts of Kepler Cheuvreux (buy and target price at 1 euro on Telecom Italia). In the meantime, the company led by Marco Patuano is evaluating the listing of the Italian transmission towers on the stock exchange, to be built in, instead of the already planned sale.
It does even better Fiat (+1,5%). The most consistent loss on the contrary is of Buzzi (-2,9%), accompanied by minor stocks in the construction sector: Cementir -2,7% and Astaldi -2,4%. Positive Enel (+ 0,3%) and A2A (+1%). Stable oil: Brent unchanged at $96,9 a barrel). Eni advances 0,6%, Saipem +0,2% and Tenaris + 0,1%.
Banks are mostly down: Unicredit (-0,2%) And Understanding (-0,6%) recorded limited losses; they go down more Banco Popolare (-2,1%), Mediobanca (-1,4%) And Popular Milan (-1,6%). It's an exception MontePaschi, which rises by 1,3%.
Counter the insurance: Generali + 0,3% UnipolSai -0,6%. Mediaset loses 2,2%, Atlantia it is down by 0,9%. Among the titles of luxury Yoox lose 1,4%, Moncler-0,5%. Retrieve Tod’s (+1%) after two bearish sessions.
