WAITING FOR THE FED, AUTOGRILL FLIES. DEFLATES INWIT, REBOUND OF THE BANKERS
Session without history on the stock exchanges awaiting the decisions of the Fed. In Milan, the FtseMib index remained just above the 22 mark, closing at +0,2%. Same script in Frankfurt +0,10%, Paris +0,33%. The exceptions are Madrid +1,44% and London down by about half a percentage point. All stopped, or almost, even on the American Stock Exchange. The three main indices, Dow Jones, S&P500 and Nasdaq are almost unchanged.
There is a lot of uncertainty about what the decision of the Fed governors will be, uncertainty which is reflected in an almost stable dollar price, at 1,131 against the euro (from 1,129 at last night's close).
The yield on the two-year US Treasury bond, the one most sensitive to the Fed's hike in short-term rates, has instead reached its 4-year high in recent days.
In the last few hours, the thesis prevailing among analysts 2 to 1 is that, in the end, Janet Yellen will decide to postpone the turning point again until December. But it will be important to understand the pace of future increases, but you don't forget that US short-term rates will in any case remain below inflation rates until the end of 2017 and probably beyond. The Fed will raise rates above 2%, in short, only in the meantime will the price index have risen above 2%. On the Milanese price list to report Mediolanum +0,51% to 6,90 euros.
The CEO of Banca Mediolanum (on the stock exchange since 28 December to replace the current Mediolanum), Massimo Doris, during a presentation said that the turmoil on the financial markets in August translated into "zero" performance fees for Mediolanum , but that the group confirms the forecast of a net profit and collection for the whole of 2015 higher than those of 2014. The sale of 50% of Esperia has been set aside, 3,4% of Mediobanca remains strategic.
In the spotlight Rest with an increase that is close to 5% to 8,44 euros. CEO Tondato da Ruos announced that 2015 will close better than both 2014 and every other year since 2010. Since the beginning of the year, Autogrill shares have risen by 33% on the Stock Exchange. Back off Telecom Italy -0,5% in parallel with the descent of Inwit -0,73%: the Spanish Celltex has denied the former incumbent's entry into the tower company. Mediaset rises by 1% to 4,466 euros.
The company, through its marketing director Federico di Chio, reports that with the start of the Champions League, it has recorded "a peak in subscriptions" to its Pay TV. Yesterday Mediaset had released the audience data of Juventus' debut match : 0,80 million viewers with a share of 3,21%.
Collected in the afternoon on Banco Popolare +1,17% after the drop in the morning, caused by harsh judgments on the Italian banking sector by Berenberg, the broker, who has started hedging on Mps -1,5% convinced that Italian institutions will have to concentrate again on cost cutting because growth will continue to disappoint.
It has also turned up bpm +1,5%. From the communications to Consob it emerged that the Canada Pension Plan Investment Board holds 2,013% of the Lombard bank's capital. The operation is on 9 September. In positive ground Iunderstanding e Unicredit. The worst performance was by Bper -2,13%.
