BAGS AND SPREADS, COLLECTED IN MILAN AND MADRID
THE BANKS RISE, DJ RISES ABOVE 14 THOUSAND POINTS
Le European stock exchanges recovered after yesterday's sharp drop. At Piazza Affari, the FtseMib index rose by 1,05% to 16.724, outclassed by Madrid +2,36%. London is up 0,56%, Paris is up 1,1%, Frankfurt is up 0,4%.
After yesterday's blaze on the front of the sovereign debt core/periphery spreads are all slowly returning to less taut levels.
Lo BTP/Bund spread 10-year bonds fell by 9 bps to 275 basis points, for a yield of around 4,42% (the minimum in January was 4,12%).
The Spanish spread drops by 13bp to 366 for a Bonos yield of 5,33% (the minimum for the period is 4,86%). Greece also sees the spread down by 6 basis points to 902 for a yield of 10,7% (the minimum for the period is 9,98%.
More serene weather also a Wall Street: Dow Jones +0,86%, S&P +0,8%, Nasdaq +0,56%. Computer maker Dell – 0,8% to exit the stock market following the buyout by its founder Michael Dell and investment fund Silver Lake. The operation, in which Microsoft also took part, is worth 24,4 billion dollars (about 18 billion euros). Buyers will pay $13,65 per share at a premium of about 23% over Dell's average price before the market rumors.
On the European Stock Exchanges all sectors rose, in particular banks (Stoxx +1,5%), utilities (+1%) and insurance companies (+1%).
In Milan it is banks leading the rebound: MontePaschi rises by 3,22%, Unicredit +3,7%, Intesa +3,9%.
Growing too Generali + 1,06%.
Meanwhile, the ordinary shareholders' meetings were convened yesterday for 13 and 14 March Fondiaria-Sai and Milano Assicurazioni to resolve on the proposed liability action against some former directors and statutory auditors, including the entire Ligresti family and the former CEO Fausto Marchionni. The ad acta commissioner of Fonsai Matteo Caratozzolo underlines in the report on the liability action that "the consultancy entrusted to Salvatore Ligresti in the real estate sector served at most to give shape to the interference of the same in the strategy of use of the Fonsai group's available funds.
In short – writes the expert – Salvatore Ligresti received abnormal fees for the purpose of making the Fonsai group buy exclusively properties owned by related counterparties”. it is huge, in the order of hundreds of millions of euros”.
Conversely, the TLCs are under pressure after the surprise announcement of theDutch Kpn – 21% of a capital increase of 4 billion euros, almost as much as the current market capitalisation. Kpn closed the fourth quarter of 2012 with a loss of 162 million euros, when analysts on average expected a profit of 362 million.
Kpn drags the sector down: Deutsche Telekom falls by 0,9%, Telecom Italia falls by 1,8%.
At Piazza Affari the oil: Eni +2,01%, Saipem +0,2%.
English BP it rose by 1,8% on the day of the presentation of the quarterly data. Refiner Neste Oil is down 6%, in this case the quarter was disappointing.
Fiat loses 0,51%, Fiat Industrial earn 1,41%, Finmeccanica earns 2,02%. It's down StM -1,85%.
Positive Enel +1,2% and the subsidiary Enel Green Power +0,7%.
Seat loses 20% at 0,001 euros, the company announced this morning that it will ask for composition with creditors and debt renegotiation.
