THE EU: ITALY NEEDS REFORMS
IN GREECE JURES PAPADEMOS
The Monti effect invigorates the stock market and is already worth 100 spread points less than yesterday. The prospect of a short-term caretaker government led by Mario Monti, who received the yes from the president of Confindustria Emma Marcegaglia, in fact brings the spread between the ten-year BTPs and the German bunds back to 456 points. In Piazza Affari, the Ftse Mib rose by 3,68% to 15.778 and the All Share by 85%. On the other hand, the EU is also rooting for the caretaker government: the president of the European Council Herman Van Rompuy has urged to take the path of reforms and not elections, adding that he will do everything to ensure that the Eurozone is not reduced to a selective club . Meanwhile, the stability bill has been given the go-ahead in the Senate and is now moving to the House, approval is expected for the weekend.
While in Greece (where unemployment reached 18,4% in August) the government of Lucas Papademos is sworn in, other European markets are also breathing, supported by the hope of a resolution of the Eurozone crisis: the Dax rises by 3,22% , the Cac of 2,76% and the Ftse 100 of 1,85%. The Eurostoxx50 rises by 2,97%.
The good tone of the markets also extends overseas: Wall Street starts positive and accelerates after the publication of the data on consumer confidence measured by the University of Michigan which rises to 64,2 from 60,9, beating analysts' estimates. At the end of the European markets, the Dow Jones rose by 2,32% and the Nasdaq by 1,77%. Euro strengthens against the dollar to 1,377 and WTI oil rises to 98,9 dollars a barrel BPM + 11,66%
ON THE LAST DAY OF RIGHTS NEGOTIATION
CALTAGIRONE SUSPENDS ITSELF FROM THE MPS BOD
In Piazza Affari, no stock in the main basket closes in the red. Among the best, Banca Popolare di Milano is in a decisive rally, jumping by 11,66% on the last day due to the negotiation of rights (+4,44%) But the whole banking sector supports the good performance of the list: Intesa Sanpaolo which closes at + 8,82% to 1,283 euros per share, Ubi Banca at + 9,34% to 2,81 euros and Unicredit, awaiting the amount of the recapitalization and the new three-year plan on Monday's agenda, rises by 5,43, 0,825% at €3,28 per share. Mps registers + 5,41% after having released the accounts for the quarter yesterday. "We will do everything to avoid having to resort to the market again", assured the top management regarding the EBA's recapitalization requests. Meanwhile today Francesco Caltagirone, who was sentenced in the first instance to three years and six months in the trial for the attempted takeover of the BNL by Unipol, with a letter dated November 258 suspended himself from the position of vice-president of director. Banco Popolare del xxx. On the insurance front, Allianz (+1,3% in evidence in Europe) spreads a net profit for the quarter of 931 million (from 37,1 billion) which was weighed down by write-downs of 329 million relating to investments in the financial sector and Greek government bonds but confirms the targets for the entire year. Results in chiaroscuro also for Assicurazioni Generali which archives a profit over the nine months in line with expectations and down by 2,31% also due to XNUMX million euros from Greek bonds. The stock closed up XNUMX%.
ORDERS PUSH IMPREGILO AND ASTALDI
TELECOM ITALIA BEATS ANALISTS' EXPECTATIONS
Impregilo runs (+11,83%) after the signing of the contract for the Third Giovi railway crossing, between Milan and Genoa, with Rfi (FS). Together with Impregilo, Maire Tecnimont also participates in the consortium of companies acting as General Contractor and the share jumps by 23,75%. Astaldi also stands out (+14,43%), which today released its quarterly accounts, but which benefits above all from a new order in Turkey for the design, construction and management of the Etlik Hospital Complex in Ankara Telecom Italia is also highlighted (+5,32%) which in the morning released quarterly accounts better than analysts' expectations with debt falling more than expected and positive signals on the domestic business front.
