US stocks turned negative in the afternoon, despite better-than-expected data on retail sales and the labor market. The Dow Jones fell 0,68%, the S&P 500 index fell 0,58% and the Nasdaq fell 0,8%.
Piazza Affari closed in the red and at the lows of the day: the Ftse Mib index lost 0,91% to 20.591 points, after having reached 20971 points in the morning. The decline of the other European Stock Exchanges was heavier, with Frankfurt losing 1,7%, Paris 1,1%, London 0,7%, Madrid -1%.
Tension is rising in Ukraine in view of the referendum in Crimea, the appeal of safe-haven assets is growing again. Gold travels to the highs of the last seven months: 1.366 dollars an ounce, the highest since September. The German 4-year yield fell by 1,55 basis points to 2013%, on the levels of the summer of XNUMX.
Threats of trade retaliation on Moscow by the array of countries backing Arseny Yatsniuk's new Ukrainian government weakened the Russian stock market: the Micex index closed 2% down, its lowest since mid-2010.
Yesterday's auctions, after that of the Bots on Wednesday, once again confirm the good appetite on the Italian paper, especially the long-term one. The maximum amount of the range was placed between 6 and 7,75 billion with rates at new lows. The yield of 7-year BTPs fell to 2,7% from 3,02% in February and that of 3-year BTPs fell to 1,12% from 1,4% in February; both at their lowest since the introduction of the euro.
With this issue, since the beginning of the year the Treasury has issued 55 billion nominal and indexed BTPs, around 28% of the issues planned for this year. Among the individual stocks, the run-up to Pop Milano continues (over +4%), driven by the positive assessments of brokers on the bank's development prospects under the guidance of the new management.
Pop Emilia also did well, jumping by 4,6%. An analyst recalls that the bank is holding a roadshow with investors today in Paris and tomorrow in London to present its 2013 accounts. MontePaschi +1,5%, Deutsche Bank raised its recommendation to Hold from Sell. Weak Ubi -1,6%, the time has come for Equita to take profit. The Bigs go down: Unicredit is realized (over -3% at the close) after the recent increases. Down 1,9% Understanding.
Strong purchases even today on Enel which rises by 1,9%, promoted by some international brokers after the announcement of the 2013 accounts yesterday and of the industrial plan to 2018 which also provides for an increase in the dividend policy from 2015. Enel Green Power -2%, Mediobanca raised the target price to 2 euro from 1,7 euro.
Generali closed down by 0,9% after 2013, slightly below expectations. “The stock was up a bit yesterday on the expectation of emotional short covering. But given the less than excellent data, which could not have been different given the write-offs and calamities, the stock soon returned to the ranks ”, observes a trader. Record profit for Generali, the best in the last six years. The company has announced that it will distribute a dividend of €0,45 per share, more than double that of last year.
Eni -0,7%. Telecom Italy + 0,1%. Fiat + 0,3% Finmeccanica -1% StM -0,9%. Down even today the luxury, with Tod's in drop of 2,3% e Ferragamo 1,8%. sapphire -5%.
In cash (+4,4%) Rest which today released its 2013 results, filed with revenues and Ebitda down but substantially in line with the guidance. In the first weeks of 2014, however, there was a recovery, with sales up by 3,7%. Out of the basket it rips Rcs which gained more than 7% on the back of some broker promotions following the announcement of new cost cuts in the coming years.
Salini Impregilo -3%, Kepler Cheuvreux downgraded the recommendation to Hold da Buy. Campari -0,8%, Exane cuts the target price by 9%, bringing it to 4,9 euros. Confirmed the negative rating Underperform. Among the minors kinexia jumped by almost 25% after the announcement of the strengthening of the presence in China following the collaboration agreement with China Energy Conservation.
Among the small caps there is also +2,7% of Primi sui Motori, +5% of Exprivia and -6% of Prelios. On the downside, Central Milk Turin it drops more than 22% after the strong rise of the last few sessions. The football clubs are also heavily retracing after yesterday's race. There Lazio loses 12%, the Roma more than 7% and the Juve by almost 5%.
