Amazing day for the banks and for the spread. The markets are betting on the signing of the agreement in Athens which will defuse the mine of default.
The perfect timing chosen by Goldman Sachs which this morning, just as it begins, also contributes to calming the climate the EBA meeting on the assets of institutions, promoted all the Italian banks: Sanpaolo rises by 3%, Unicredit by 4%, Ubi by 2,7%, Banco Popolare by 2%, Banca Popolare di Milano by 4%.
Piazza Affari marks an increase by 1,55% (FTSE/Mib index at 16), Paris +746%, Frankfurt +0,43% and Madrid +0,58%. The yield of the 0,16-year BTP rises by 10 basis point to 1%, the spread with the Bund widens again and reaches 5,57 basis points from 360 basis points in the early morning.
to 11 the Bundesbank announced that the Treasury has placed 3,29 billion euros of government securities with a 5-year maturity and a yield of 0,91% from 0,90% at the previous auction. Berlin's appetite for paper is down, the bid to cover fell to 1,8 from 2,9.
Start today monetary policy meeting of the European Central Bank, ends tomorrow with the announcement on rates and the press conference by Mario Draghi. Meanwhile, an agreement is looming on the Greek front: the ECB would be willing to exchange the Greek bonds in its portfolio (about 50 billion euros) in exchange for other bonds issued by the EFSF fund, the conversion will take place with a discount of 11 billion euros compared to the nominal value of the bonds which will translate into a reduction of Greece's debt by the same amount. The ECB does not incur losses because it boasts a 2011 billion capital gain on the securities purchased in 12.
THEeuro trades at 1,327 on the dollar from 1,326 at the close, the maximum in the last two months. The weakness of the dollar fuels the rush of gold, which has risen to 1.748 dollars an ounce, on the highs of the last two months. Still on a roller coaster are the titles of the nascent insurance hub, now the preferred prey of speculation, regardless of the Consob spotlight. This morning the stocks point upwards: Unipol, Fondiaria Sai and Premafin suspended due to excessive increases. Life shot for Finmeccanica +1,5% . Rumors suggest possible entry into the capital of Ansaldo Breda and Ansaldo Energia of the Strategic Fund of Italy. CEO Giuseppe Orsi intends to get his companies out of the consolidation. Now extraneous to the perimeter of the activities considered strategic. The intervention could also involve Ansaldo Sts +1,4%, which will present its business plan tomorrow.
Competitor accounts are good at Prysmian +3%, after the brilliant results of the French Nexians, and Pirelli + 1,8%, after the positive numbers of the Finnish Nokia.
