The week ends in style in Asia. Tokyo marks an increase of more than 2%, followed by Hong Kong (+0,8%) and the other main markets. Almost unchanged Shanghai, which reopened its doors after a week of closure for the New Year holidays.
Brilliant session yesterday on Wall Street in the wake of good news on the employment front and positive quarterly results. In the end the Dow Jones index gained 1,22% as did the S&P 500, Nasdaq +1,14%
The Draghi effect instead galvanized the European stock exchanges: Paris rose by 1,7%, Frankfurt +1,5%, London +1,5%. In Milan, the FtseMib index gained 2,2% to 19.504 points.
FLY DISNEY. THE SOCIAL NETWORK BUBBLE EXPLODED
Spotlight turned on today on US employment statistics, the most awaited data of the week. Yesterday the Bull was able to count on some positive elements: the higher-than-expected drop in claims for unemployment benefits and the better-than-expected quarterly results of some corporations.
In the limelight Disney +5,3%, thanks to the excellent results of the cinema division and Green Mountain Coffee Roasters +26% of which Coca-Cola +1% acquired a 10% share, thus entering the coffee capsule market. Investors are betting that Pepsi will respond with the purchase of SodaStream, the Israeli company that produces devices that allow you to do at home, in addition to coffee, sparkling water or various fizzy drinks.
Hard times instead for social networks: after the thud of Twitter (-24%) due to the weak growth of users, it's the turn of Linkedin, -11% in post-exchange trading. Profits and turnover beat estimates but the social network's quarterly report, released after the closure, predicts a weak 2014, with only 2 billion in revenues. Finally, Apple announced a 14 billion dollar buyback: it is unlikely that the raider Carl Icahn, who was asking for 50, will be satisfied.
AFTER THE ECB THE SPREAD DOWN TO 205, SPAIN BELOW 200 BP
Mario Draghi assured that the ECB is ready for "decisive action, if necessary". But, for the moment, given the "complex situation", the ECB has postponed any decision to its meeting in March, when the data for the fourth quarter of 2013 and forecasts up to 2016 will be known. The markets welcomed the central banker's approach
Draghi's words, which among many things said caused an increase in risk appetite and led to a weakening of the German Bund: the yield rose by 6 basis points to 1,69%. Thus the spread between BTPs (yield at 205%) and the German ten-year bonds narrows to 6 basis points (-3,74 basis points).
Yesterday Spain placed 5,59 billion euros of three-year and five-year bonds, with falling rates: the spread fell below 200 bps. France also issued 7,986 billion euros of OATs at 10, 13 and 18 years. The 2,25-year yield was down to 2,51% from XNUMX%
“We have a much more balanced view in the euro area than we did a year ago,” S&P analyst Moritz Kraemer said yesterday, “we have a negative outlook on three countries: Belgium, Italy and Portugal, and a positive outlook on two : Ireland and Lithuania”.
LIKE THE MEDIOBANCA BAD BANK. AZIMUTH TO THE STARS
For Italian banks it was a day of strong increases: Unicredit +1,3%, Intesa +2,9%, Banco Popolare +3,7%, Monte dei Paschi +5,4%, Ubi +3,65% and bpm + 2,39%. Then the rumors continue about Mediobanca (+3,67%), at work on a project for the creation of a bad bank into which non-performing loans will flow. The Bank has already had contacts with Bper (+4,65%) and Creval (+4,48%).
Azimut achieved the best performance of the main basket with an increase of 6,3% triggered by the new and astonishing data on funding: 701 million in January. Banca Generali +3,66%, with markets closed, announced last night that it had raised funding of 226 million euro, in line with analysts' expectations. Mediolanum+3,1%.
TELECOM ITALIA, MINUCCI PRESIDENT WAITING FOR GAMBERALE
Telecom Italia rose by 2,4%. The board of directors appointed the vice-president Aldo Minucci as president with the powers of the law and the statute, without changing the powers held by CEO Marco Patuano. On the Brazil question, the board approved the definition of an enhanced procedure for a possible sale of Tim Brasil.
The board of directors instead postponed the reform of the statute to future and unquantifiable times, but a compromise on governance is making its way between Telco, the reference shareholder, and Marco Fossati, a dissenting shareholder, which could lead Vito Gamberale to the presidency of the group.
Lastly, the board reviewed the trend of the main operational and market indicators for the year 2013, although the result will be examined by the board scheduled for March 6. The group's adjusted net financial debt falls to a lower level at 27 billion euros and a trend in line with expectations for the EBITDA target. The board also decided to cancel the hybrid bond issue program for a total of 3 billion euro.
ENEL STILL SHINES. BREATHE THE LUXURY
The increases in all sectors were numerous and widespread. The recovery day was attended by Enel +4,4%, Snam Rete Gas +2,3%, Enel Green Power +2,1%. Mediaset +4,1% and Autogrill +3% were also highlighted. In luxury, Luxottica +2,6% and Ferragamo +2,8% advance.
RCS, DELLA VALLE DA' BATTLE EVEN IN THE COURT
The board of RCS will be held on Monday 10 in Madrid, an appropriate venue given the bullfighting climate. Diego Della Valle has sent a tough letter to the directors and the board of statutory auditors in which he announces the launch of legal action against the corporate bodies that approved the sale at "almost final" prices (120 million) to the US fund Blackstone of the properties in the center of Milan, in particular the one in Via San Marco, headquarters of the Gazzetta delo Sport and the integration of the advertising revenues of La Stampa, owned by Fiat, the leading shareholder with 20,55%, with that of RCS. The perplexities about the sale of the buildings are, according to rumors, shared by Giovanni Bazoli, by the former president Piergaetano Marchetti and by Urbano Cairo, a shareholder with 2,845%.
BIALETTI, THE STRANGE RUN OF THE MAN WITH THE MUSTACHE
Bialetti's run was impressive +25,31% . The stock of the "little man with the moustache" continued its recent rally after registering +20,08% yesterday and +60,3% since the beginning of the year. Beyond the mystery for this ride, there are numerous ideas between medium and small caps.
Danieli +2,04% to 25,45 euros which benefited from the positive newsflow linked to the order in Oman. Cementir +3,98% thanks to the better-than-expected preliminary results for 2013 published yesterday with the markets closed. Cairo +6%: Kepler Cheuvreux raised the target price on the stock from 5,8 to 7,3 euros, confirming the buy recommendation.
Sorin also rose, +1,38, which closed 2013 with revenue growth of 4,8%A to 738,5 million euros. Profit recorded an increase of 41,2% to 59,1 million, while net financial debt amounted to 68,7 million compared to 87,8 million as at 31 December 2012 and 91,3 million as at 30 September 2013.
