GERMANY BRINGS CONFIDENCE BACK TO THE STOCK EXCHANGE
RAIN OF SALES ON MPS, DERIVATIVES WEIGHT
Germany ahead. The jump in the index of Zew trust has given the charge to stock lists, waiting for the reopening of Wall Street after the long weekend.
La Milan Stock Exchange reversed course and the FtseMib index gained 0,38% to 17.710.
European Stock Exchanges recover from the lows reached in the morning after the publication of good macro data; Frankfurt -0,28%, Paris -0,33%, London +0,34%.
So Piazza Affari breathes again, with one exception: Mount Paschi -3,67% on which the Alexandria bomb weighs, a new derivatives contract that dates back to the management of Giuseppe Mussari, perfectly aware of the agreement, says Nomura.
Two notes, one from the Sienese bank and one from Nomura, in fact provide some information on the derivative, following the indiscretions published today by Il Fatto Quotidiano which led to a new wave of sales on the stock. The newspaper hypothesizes that the operation could lead to huge losses for MPS.
According to Mps, the analysis on Alexandria is nearing completion and the dossier could be presented to the bank's board of directors by mid-February. During the meeting, the note continues, the board of directors may adopt "any measure necessary to ensure, even retrospectively, the correct accounting representation of the transactions in question". Mps therefore seems to open up the possibility of rewriting the balance sheets of the past few years.
Le other banks improved: Intesa -0,07%, Unicredit +0,98%, Banco Popolare +0,6%, %.
On the government bond market BTP it still improves with a yield of 4,18% and a spread of 256, -6 basis points.
Between the insurance, Generali gains 0,4%. Unipol leap +4,5%. Land +1%.
Fiat salt of 1,02%, Pirelli -0,3%, Fiat Industrial +0,1%. leap of Finmeccanica + 2.95 %
Enel earn 0,9%, Telecom Italy +0,8%. Enel Green Power did well +2,8%, supported by the new SocGen "buy" recommendation.
