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Milan rises but Finmeccanica collapses

The positive outcome of this morning's Bot auction is felt in Piazza Affari, which goes back up – The Btp-Bund spread is down, but the eyes remain on Finmeccanica, which continues to fall after the arrest of Giuseppe Orsi – The rest of the list remains relatively unscathed compared to the new cyclone: ​​Eni and Saipem positive, the banks moved little

Milan rises but Finmeccanica collapses

It falls steeply Finmeccanica -8% after stopping Giuseppe Orsi in the context of the investigation conducted by the public prosecutor of Busto Arsizio with the hypothesis of a crime of international corruption for the order of 12 Aw 101 helicopters from India when he was at the top of AgustaWestland.

Ansaldo Sts, subsidiary of Finmeccanica, loses 2,8% after a suspension due to excessive reductions. Yesterday evening the railway signaling company presented the preliminary data for 2012. Chevreux raised the target price while Equita brought the rating to "Hold" from "Buy".

But the new surprise from the front of public companies, after the cases Eni and Saipem, does not currently have repercussions on the rest of the list or on the public debt front. This morning the Tesoro has placed all 8,5 billion euros of annual BOTs, the placement rate rose to 1,094%, against 0,864% in January.

In the same hours also the Greece completed a placement of state bond by placing 1,3 billion euro of securities with a 13-week maturity, a yield of 4,05%. The BTP-Bund spread it is down to 295 basis points (-5). The Milan Stock Exchange recovers after the auction of the Bots: the Ftse Mib index gains 0,18%.

The euro moved little against the dollar to 1,339 from 1,340 at the close. L'euro it weakened on the franc to 1,2297 from 1,2337 yesterday evening. The dollar index rose by 0,2% to 80,49 points, it is the fifth consecutive day of rise. This morning i G-7 countries issued a statement in which they pledged not to interfere with currency dynamics, a stance that should help ease fears of an international "exchange war" breaking out. Gold is at the expense of it, falling to its lowest level in the last five weeks at 1639 dollars an ounce.

Eni salt of 0,7%. Saipem -1,2%. The Financial Times writes that Black Rock sold 2,3% of the capital the day before the profit warning. The bulk of the shares, about 2%, would have been acquired by Massachusetts Financial Services, a large US fund.

Little moves the major banks. Unicredit +0,1% and Intesa -0,1%. Banca Popolare di Milano rises by 4%. Monte Paschi loses 2,3%, Banco Popolare -1,5%.

Among the industrialists. Fiat loses 2%, Fiat Industrial -1,8%. Exor is down 0,7%. Yesterday evening the financial company controlled by the Agnelli family announced the launch of an offer to convert Exor privileged and Exor savings shares into ordinary Exor shares with a 1:1 ratio. The ratio represents a 10% premium before the payment of the 2012 dividend. The transaction is subject to the approval of the shareholders' meeting. Exor privilege is up 7,8%.

Campari loses 2% following the "Sell" arrived this morning from Ubs: the Swiss broker has lowered the rating from the previous "Neutral".

Telecom Italy -0,3%. Moody's downgraded the rating to BAA3 with a negative outlook. Nomura lowered the target price to 0,68 euro from 0,82 euro.

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