BUSINESS PLACE +2,13% CANCELS A MONTH OF REDUCTIONS
NEW GOVERNMENT IN ATHENS, HOPE FOR BERNANKE
Piazza Affari cancels five weeks of discounts. Today the Milan Stock Exchange, up by 2,13%, with the Ftse Mib index at 13.732, celebrated positive news and indiscretions. A much more euphoric attitude than the other markets except for Madrid +1,23%: Frankfurt rises by 0,35%, Paris by 0,18% and London by 0,6%. Zurich is even down by 0,4%.
What's the good news? First, it is certain that Greece will present tomorrow at the Eurogroup meeting with a new government, led by Antonis Samaras of Nea Demokratia, but also made up of Pasok and Sinistra Democratica. Vassilis Rapanos, president of the National Bank, will go to Finance.
The second good news is that the intervention, as proposed by Mario Monti of the European institutions in support of the sovereign debt securities of Italy and Spain, is finding more and more credit. On the government bond market, however, risk appetite rises: the Btp Bund spread narrows to 411 basis points (-24 basis points compared to yesterday). The yield on the Bund rises by 10 basis points to 1,62%.
THEeuro it strengthened against the dollar to 1,271 from 1,267 at the close. Gold deflates, dropping 1% to 1.602 dollars after eight consecutive rises.
The third good news could come from Washington. The FOMC meeting ends at 18 pm Italian time. At 30pm Ben Bernanke will hold the awaited press conference. Pending the eventual Quantitative Easing or other measures to give liquidity to the markets, Wall Street is little moved: Dow Jones index +22%, S&P index -0,02%, Nasdaq index +0,1%. There is concern for the numerous profit warnings that arrived during the morning, among which those of Adobe and Procter & Gamble stand out.
A Business Square we are witnessing a collective rise of banks and industrial companies.
Among the warmest, Mediobanca +6,27% and Finmeccanica + 6,87%. Mediolanum +6,7% has been suspended due to excessive increases. Also on the rise Mediaset + 4%.
It's another very lively day for Telecom Italy + 4,2%.
Banco Popolare +5,84%, Monte Paschi +5,89%, B. Pop. Emilia-Romagna +6,35%. Unicredit +2,55%, Ubi +3,75% Telecom Italia lengthens the pace +3,86%%. Fiat marks +5,14%.
