TELECOM DOWN, BANK MPS RUNS
EXPORT SUPPORTS PIAZZA AFFARI
It doesn't scare Milano the unexpected drop in the German confidence index. The Ftse Mib index canceled the decline (initial -0,5%) and now rises by 0,16% to 15.622.
down, Paris -0,38% and Frankfurt -0,23%. Madrid loses 0,64% after the Bono auction which saw Madrid place 4 billion bonds at 6 and 12 months, the issue target was 4 billion.
Go positive too London + 0,14%.
Setback in July for the confidence of the German investors. The Zew index, in fact, dropped to 36,3 points from 38,5 points in the previous month of June. The figure is lower than the market consensus which estimated an increase of up to 39 points in July.
On the contrary, it improves the balance of Italian trade balance: 3 billion euros in May, it is the strongest monthly recovery since January. Imports fell by 10% and exports by 1,5%. Since the beginning of the year, the improvement in the balance is equal to 11,9 billion euro.
New record for the debt of Public administrations which in May reached 2.074,6 billion, with an increase of 33,4 billion compared to the previous month. The Bank of Italy communicates it in the Supplement to the Public Finance Statistical Bulletin.
The Bank of Italy also announced that in April the amount of Italian government bonds in the hands of foreign investors fell to 674 billion euros from 689 in March, in percentage terms, from 40,5% to 39,4. XNUMX%.
The BTP moved little at 4,47% and the spread with the Bund rose by two basis points to 291 basis points. The spread between the Bono and the Bund also moved little (+3 basis points to 316 basis points).
They go down with a crash Telecom Italy –3,44%, in the aftermath of the extraordinary board of directors who decided to verify the network spin-off project in the light of the recent decisions adopted by Agcom. The stock hits a new low since 1997.
The board announced that, before proceeding with further implementation phases of the network unbundling process launched at the end of May, "the consistency of the contents and the regulatory path with the assumptions underlying the project should be verified".
On the contrary, the actions of shine Ps +2,53% in the aftermath of the decision by the MPS Foundation to override the statutory provision which limits the ownership of MPS shares to 4% for shareholders other than the Foundation itself, which will thus be able to better place 10-15% of the capital on the market "to raise cash and close exposure to the banking system".
Among the other banks they recover Banca Popolare di Milano +2.02% and Banco Popolare +0,9%. Unicredit +0,62%, Intesa -0,16%.
Retrace Mediaset -5,06%% after yesterday's leap.
In recovery it is Enel +0,42%, either Eni + 0,12%.
Fiat it is down by 1,01%. Car registrations in Europe (EU 27 + EFTA) stood at 1,175 million vehicles in June, down 6,3% on the same period of the previous year. Fiat recorded a decline of 13,6%. Fiat Industrial unchanged, Exor 0,25%.
Pirelli up 2,18%, in line with Michelin's +2,5%. Yesterday evening the French tire maker said that in June the market for original equipment tires rose by 2%, that for replacement tires by 3%.
Buzzi Unicem is down by 0,94%. UBS cut its target price to 12,3 euros from 13,3 euros, maintaining its "neutral" rating. Exane BNP Paribas lowered its target price by 12% to 15 euros, maintaining the "outperform" rating because it still considers Buzzi the best mid-cap stock in the European construction sector.
