THE STOCK EXCHANGE IN ATHENS FALLS, HOLDS MILAN. FINMECCANICA AND SAIPEM WELL, FIAT AND STM WEAK
Piazza Affari slows down, Athens crashes. The Ftse Mib index decreased by 0,81%, worsening in the final at the end of a session also marked by the first quarterly reports of Corporate Italy. Down also Paris -0,56% and Madrid -1,61%. Frankfurt +0,53% is on positive ground. London unchanged.
The upward revision of the estimates for 2015 by the Confindustria Study Center leaves no mark. The trend of the other stock exchanges in the Eurozone is similar, albeit conditioned by the Greek collapse. The Athens Stock Exchange closed with a generous 9% loss, posting the third consecutive decline with the titles of the first four banks in the country which left between 25% and 29% of their capitalization on the ground. Government bond yields have taken off. The two-year maturity saw an upward movement of as much as 3%, bringing yields close to 17%, while the 10-year term exceeded XNUMX%.
Slight deterioration on the government bond front: the BTP 10 yields 1,6%, the spread goes back to 124. But the 6-month BOT auction was a success. Tomorrow it's the turn of the most eagerly awaited appointment: the offer of BTPs at 5 and 10 years. The market expects a drop of more than 10 basis points in the 0,85-0,90% area on the five-year maturities and by 30 basis points in the 1,60% area on the ten-year maturities, in both cases below the respective historical lows of 0,98 .1,89% and XNUMX%.
Meanwhile, awaiting the decisions of the Fed's monetary committee (excluding interest rate interventions) Wall Street is thrilled with the performance of Apple Lossless Audio CODEC (ALAC), +7,4%, on the wave of the best results ever. the October-December quarter closed with a profit of 18 billion dollars, up 37%. Boeing +4,5% and Yahoo! +2% after the split of the controlled stake in Alibaba. The Dow Jones is stable +0,07%, the S&&P unchanged, only the Nasdaq is up +29%.
Returning to Milan, new confirmation of the "sell on news" rule. Finmeccanica it is up by 2,5% after the presentation of the new industrial plan which foresees a 2014 with better results than the previous indications. The stock moved to prices it hadn't seen since May 2011 to 9,25 euros.
StM however, it lost 2,3% after announcing results for the fourth quarter of 2014 in line with expectations. FCA Chrysler -0,3% closed slightly lower at 11,55 euros: in the afternoon after the publication of the accounts it fluctuated between a minimum of 11,21 euros and a maximum of 11,88 euros. The group's turnover and objectives are in line with expectations, but the positive note that emerges from the accounts approved by the London board of directors is the reduction of the debt: 7,7 billion against 11,4 billion at the end of September. No dividend will be paid for the 2014 financial year, because all resources will be placed at the service of the business plan.
Among the oil companies, the race of Saipem + 4%. Eni +0,9% will sell its investment when market conditions permit. This is what the CEO, Claudio Descalzi, announced today during a hearing in the Chamber. “There was a queue of funds that wanted to buy the subsidiary, but it's clear that we can't sell off. The market is what it is and therefore the sale is not close ”, he said, recalling that the price of the share has gone from 12-13 euros to the current 7-8 euros.
The turbulence coming from Greece and the prospect of sanctions on the movement of capital to and from Russia weigh on the banks. They especially suffer Ps -5% and Unicredit -3,34%, which continues to be affected by the worsening of the Russian situation. Ubi -3%, Intesa -1,22%. Outside the main index they shine Ternienergy +7% and D'amico + 3%.
