THE EURO FLIES WAITING FOR THE FED. MPS +1,2%
BOTS FIND OUT, GREEK STOCKS BELOW 10%
Despite the successful conclusion of the Bot auction, the session in Piazza Affari was dominated by the minus sign. At the end, however, the Ftse Mib -0,03% almost broke even at 17891, a day dominated by currency and monetary issues.
THEeuro it surged in the afternoon to 1,348 on the dollar, the highest in the last 13 months. The euro devalues against the Swiss franc to 1,2427, from 1,2462 at the close.
The time has come for revenge for the sovereign debt periphery. The Tesoro without difficulty placed six-month bonds for 8,5 billion euro, equal to the entire amount envisaged. The demand amounted to 13,99 billion. The yield fell to 0,73%, its lowest since March 2010, from 0,94% at the previous auction. On the secondary market, the 10-year Bund Btp spread fell to 245, down 4 basis points to its lowest since July 2011.
Another "historic" result: the yield on the 10-year Greek bond falls below 9,93% (2010% to be precise) for the first time since October XNUMX.
The two-day meeting of the FOMC began today (Federal Open Market Committee), the Fed body in charge of monetary policy decisions. No major decisions are expected, but it will be important to catch any signs of a brake on the super-expansive policy conducted so far by the US central bank. Judging by the rush of the euro, the markets are betting that there is no tightening in sight.
Among the sectors on the European equity markets, fluctuations are limited. At the extremes we find the Tech +0,3% and the banks -1,1%, a circumstance that explains the worst performance of the Italian Stock Exchange, more linked to the credit sector: London +0,83, Frankfurt -0,03% and Paris +0,14%.
However, the recovery of MontePaschi, up by 1,2%, but among the other banks the minus signs prevail: Intesa -1,2%, Banco Popolare -1,1%, Ubi -1,5%. Unicredit is down 0,5% after the promotion of Goldman Sachs.
La American stock exchange absorbed the drop in the consumer confidence index: S&P index +0,14%, Nasdaq index -0,03% and Dow Jones index +0,45%.
Meanwhile, the Case Shiller home price index reported the strongest year-on-year rise in November since August 2006.
Profits grow but Ford -3,8% feel the pinch of the crisis of the European subsidiary.
Returning to Piazza Affari, new A2A exploit + 4,31%.
Sale Azimuth +0,62%, after the US broker Kbw started hedging with an outperform recommendation but Banca Generali -2,9% retreats from the recent historical highs. It also corrects Mediolanum -1,17%.
Among the insurance Generali down 0,91%, Unipol -1,1%, Fondiaria Sai -1,8%.
Among industrial stocks, Fiat fell by 0,81%, Fiat Industrial -1,9% after disappointing data on commercial vehicle sales in Europe.
Finmeccanica unchanged, positive Ansaldo +1,45% which in the morning reached new highs for the period on rumors of a GE offer.
In decline Saipem -3,52%, worst blue chip today, subject to a placement of shares among private investors. Eni rises by 0,52%. Crude is unchanged with Brent trading at $113,3 a barrel.
Positive Mediaset +2,18% and again above 2 euros, after Exane raised the target price to 2,1 euros.
To report Rcs -3,6%.
The cement manufacturers are bad: Buzzi -1,18%, Italcementi -4,3%.
Among the small caps, the case of stands out Seat Yellow Pages which collapses and loses a third of the capitalization value: -37% to 0,0033 euro. Yesterday evening the company warned that, due to the negative performance of the advertising market, the coupon of the senior secured bonds maturing on 31 January, for a total amount of 42,2 million euro, will not be paid. Seat is therefore in default.
