EXCHANGES BET ON GREEK AGREEMENT
MEDIASET SHOW. MARCOLIN'S TAKEOVER DISAPPOINTS
Land Stock Exchanges closed on a crescendo. In Milan, the FtseMib index rises by 0,51% at 15590 behind Paris +0,92% but ahead of Frankfurt +0,4% and London +0,21%. The euro is trading at 1,294 against the dollar, unchanged from Friday night's close.
The result better than Citigroup's expectations + 2,3% (earnings per share of 1,06 dollars, against estimates of 0,97 dollars) and positive indications of retail sales (+1,1% in September) support Wall Street: the Dow Jones +0,29, 0.1%, S&P +0,21, the Nasdaq +XNUMX%.
On the government bond market, the 10-year BTP shows a yield of 4,96% with spread at 350, stable.
The steep decline in Greek bond yields continues reached the lowest since September 2011: the 17,23-year Athens now yields 47%, with spreads down by XNUMX basis points. The hypothesis of a buyback on Greek government bonds by exploiting the liquidity of the fund to save ESM states is gaining ground.
All banks closed in positive territory: Unicredit rises by 0,81%, Intesa +0,1%, Mediobanca +1,27%, Banco Popolare +0,73%, MontePaschi +1,81%.
Generali gains 1,28% % supported by the promotion of the American broker Keefe, Bruyette Woods (KBW) which raised the rating to market perform from underperform.
Managed savings also benefited, Azimut +1,6%.
Between the Milanese blue chips, however, the greatest increase is from Mediaset which rises by 3,8% on the rumors according to which Al Jazeera is interested in Mediaset Premium.
Also on the rise Telecom Italy Media +0,9% and Seat + 3,8%.
Finmeccanica rises by 1,7%: CDP has announced the birth of an Italian consortium to purchase a minority stake in Ansaldo Energia, a company that Finmeccanica wants to sell and for which it has received an offer from Siemens.
Fiat -1,04%. Fiat Industrial limits the loss to 0,32% after the independent directors of the subsidiary CNH rejected the proposed merger.
Among the utilities, Enel rises by 0,5%, A2A -0,45%, Terna +1,1% decreased.
Hera's shareholders' meeting gave the go-ahead for the merger by incorporation of Acegas. Thanks to the operation, a group is born with over 4 billion in production value, over 750 million in industrial margin and a net profit of 140 million euro, which ranks second behind A2a. The entry of the Italian Strategic Fund (Cdo) with approximately 6% is also envisaged in the shareholding structure. “Combinations are levers for growth – commented I, president Tomaso Tommasi di Vignano – every time an ideal solution comes up again, we will try again”.
Sharp reduction of Camfin which loses 4,4%.
Marcolin finally, it loses 12% after the announcement that the private equity fund Pai will acquire 78,39% of the capital from some shareholders and will launch a takeover bid on the rest of the capital at 4,25 euros: the price is lower than on Friday's closing last (4,78 euros).
