On the eve of the meeting of the ECB, ten-year BTP broke a historic barrier: this morning the Treasury benchmark was traded at a yield of 1,998%, its lowest ever. The spread with the Bund of the same duration (0,743% yield) fell to 125,7 points, the narrowest gap since April 2011. Obviously, the bet on the outcome of the Frankfurt meeting is not limited to Italian bonds: the passes Iberian is at 1,84% (spread and 110bp), theOat French at 1,01%, spread at 27 cents.
The Ftse Mib index is up by 0,49% to 19877 after the publication of some data on the conditions of the services sector.
In October, the Markit purchasing managers' index PMI fell in the euro area to 51,1 from 51,4 in October, but rose in Italy for the second month in a row. The Parisian Cac falls -0,15%, Frankfurt stable +0,07%. The best square is Madrid + 0,72%. Down London -0,19%.
Among the leading stocks, the rise of stands out FCA +2,5% to 10,79 euros, a new all-time high, following the release of data on Chrysler registrations in America. The rally in Telecom Italy + 2,8%. The analysis work on the Oi dossier accelerates: in the new entity Telecom aims to have at least 51%. President Giuseppe Recchi said that there won't be a board meeting on Brazil before Christmas.
It bounces Saipem +0,5% after the South Stream shock: the abandonment of the project, if confirmed, will have an impact of around 1,250 billion euros in lower turnover, according to CEO Umberto Vergine. Mediobanca downgraded its rating to Neutral from Outperform.
Eni rises by 0,1% and Tenaris loses 0,1%.
Among the utilities, A2A is up 2,4%. Yesterday the main shareholder municipalities of the company, Milan and Brescia, began the sale on the market of shares equal to 0,5% of the capital.
Enel +0,8%.Between banks Entente salt +1%. UniCredit +0,3%. The CEO Federico Ghizzoni said he was confident about a positive conclusion of the ongoing negotiations with Fortress and Prelios + 4,8%. BPop Milan +1,9%.
Purchases of securities in the real estate sector that could take advantage of the Sblocca Italia to simplify the transition to Siiq, listed real estate investment companies. Aedes gains 6,3%, Bastogi +7,8%, Risanamento +7%.
