PIAZZA AFFARI +0,23% ARCHIVE THE WEEK OF RECORDS
IN RECOVERY BTP AND EURO. BLACK SEAT ONLY FOR PIRELLI
La Milan Stock Exchange a "historic" week ends in a positive zone. The Ftse Mib index closed with a gain of 0,23% at 17,502.
Sul market for government bonds and currencies meanwhile, the recovery of the BTP and the euro continues.
Lo spread Italy Germany it dropped to 252 basis points (-6 basis points) and the euro strengthened against the dollar to 1,332 from 1,327 yesterday evening, the highest since the end of March.
This morning the Italian treasure placed government bonds for a total of 5 billion euro, of which 3,5 billion three-year BTPs at a yield of 1,85%, the lowest since March 2010, down sharply from the 2,50% yield of the auction mid-December. In addition, 1,5 billion Cct eu were placed, maturing in June and October 2017.
Lo spanish spread drops by 10 bps, the Portuguese one drops by 12 bps.
London was unchanged, Paris was down 0,4% and Frankfurt was down 0,2%.
La Wall Street Stock Exchange proceeds little move after yesterday the S & P 500 closed on the highs of the last five years. Dow Jones and Nasdaq -0,1%, S&P500 -0,2%.
Between the Piazza Affari's blue chip Pirelli's decline stands out, losing 3,2% after the rejection by Goldman Sachs which cut the recommendation to "sell" from "neutral" and lowered the target price to 8,9 euros from 11,5 euros. Producers will not be able to pass on rising raw material prices to customers this year and will have to deal with a new problem, overcapacity. Goldman Sachs believes that at the first signs of a worsening scenario, the Stock Exchanges will react by lowering the valuations of companies in the sector.
In Europe the run of Nokia -1% was interrupted. StM loses 1,5%.
After the gains of the last few sessions, the banks stopped. Banco Popolare drops by 0,4%, Ubi Banca -0,5%, Mediobanca +0,3%, Intesa +0,2%, Unicredit -0,6%, MontePaschi -1%.
Between the insurance, Generali falls -0,6%, Unipol +0,2%, Fondiaria-Sai is down by 1,4%.
among the industrial titles, Finmeccanica down 3,1%, Fiat Industrial -0,3%, Fiat +1%.
Positive Eni +0,2% and Saipem +1,1%. Mediaset backslide -2,5% after yesterday's positive outburst.
