ATHENS TO VOTE IN JUNE, EURO AND SPREAD UNDER FIRE
BANKS UNDER FIRE IN MILAN, ABI AGAINST MOODY'S
The Athens Dam has given way. The hypothesis of a caretaker government is skipped in Greece, we will return to the polls as early as next June. European financial markets are feeling the blow, expected but not taken for granted.
The spread goes back to 440, il yield of BTPs at 5,83%. The yield on Spanish 6,33-year Bonos climbed back to 10%. The yield on the 1,1-year German Bund, which fell to new historic lows yesterday, rose by 1,46 basis points to 5,75%. The BTP trades at 8,8%, +1,2788 basis points. No less significant are the consequences for the euro: the single currency slips to its lowest level since January at 0,3 against the dollar (-XNUMX%).
In Milan the FtseMib index -2,56% to 13.314 fell in the final closely followed by Madrid -2,4%, Frankfurt -0,81%, Paris -0,65% . London -0,67%. The Athens Stock Exchange plummeted to minus 4,4%. Banks lost more than 8%.
After a weak opening on Wall Street shows that it ignores the Greek tragedy, which has already been taken for granted: the Dow Jones -0,01%, the Nasdaq advances by 0,29%, while the S&P 500 scores an increase of 0,13% to 1.340,08 points. Fly Groupon +17,6%, after the quarterly profit.
"Moody's decision is an aggression against Italy, its companies, its families, its citizens", attacks the ABI after the rating agency's decision to lower the judgment on Italian banks. Confindustria is on the same wavelength.
Strong decline for Mps -7,11%, now rated by Moody's just above the rank of 'junk', ie with the status of "non-investment" and for Banco Popolare -6,31%. The other banks also suffered heavy losses: Intesa Sanpaolo drops by 5,81% after the release of first quarter results. Unicredit – 5,61%, Mediobanca – 4,11%. Ubi -5,26%.
Intesa Sanpaolo it plans to pay a dividend at least equal to that of last year, i.e. one billion euros. He indicated it during the conference call with analysts the managing director, Enrico Cucchiani, specifying however that "the net result for the first quarter is already equivalent to the payout for the previous year". The bank's financial director, for his part, pointed out that the rating cut imposed yesterday by Moody's on various institutions, including Ca' de Sass itself, "has no significant impact". The bank closed the first quarter of 2012 with: net profit of 804 million (+21,6%) including capital gains from the buyback of subordinated Tier 1 securities for 274 million and charges deriving from the adjustment of Greek securities for 38 million. Net profit is 746 million, down from 762 million a year earlier.
Mediolanum it is down by 5,61%. A2A falls by 5,22%. Mediaset loses 4,42%, Telecom -1,64%.
Fiat moves back -1,91%, already in positive ground, Finmeccanica -3%, Eni -1,7% Enel -1,89%. Campari +0,65% resisted Luxottica -0,04% and Tod's +0,3% in addition to Ferragamo -0,06%, Prysmian -0,62% and Parmalat +0,48%.
Favorable notes from Landi renzo +10%: Mediobanca has raised its opinion on the company that produces gas fuel systems for cars (methane and LPG). Engineering was suspended due to excessive increases, the stock marks a theoretical progress of 10% after the quarterly accounts.
Benetton will leave Piazza Affari next May 31st. The news was announced on the occasion of the quarterly, with results in decline. Revenues in the first three months fell by 5,5% to 428 million while net profit almost halved to 10 million from 19 million. The stock will be suspended from the Stock Exchange starting from May 28th to then be revoked on the 31st, after Edizione with the tender offer has exceeded the threshold of 95% of the capital.
