MPS AND BPM LEAD THE MARKET SALE
YOOX PROMOTED AMONG THE BLUE CHIPS
Index FtseMib in slight progress +0,15% to 18481 on a day marked by the Telecom assembly, by the eve of the meeting of Bpm shareholders and by maneuvers awaiting the confrontation in Monte Paschi.
In rest of Europe the Stock Exchanges show modest variations. London unchanged, Paris -0,11%, Frankfurt +0,37%. Madrid -0,19%.
Standard & Poor's it downgraded the European Union's long-term credit rating from AAA to AA+, citing growing tensions over budget negotiations. EU Commissioner Ollie Rehn said he "totally disagrees".
Driving the markets continues to be the Fed's decision to gradually cut the stimulus program to the economy. The dollar is strengthening slightly: this morning the euro/dollar exchange rate is at 1,364, from 1,366 at yesterday's close.
After falling 2,5% yesterday, gold recovered slightly to 1.198 dollars/ounce (+0,7%).
Declining oil: Brent is traded at 110 dollars/barrel (-0,2%), Wti at 98,7 dollars (-0,2%).
Among the blue chips, the rise of MontePaschi +5,63% after the agreement with Deutsche Bank for the early closure of the derivative contract called “Santorini”. Popolare Milano also accelerates +4,15% on the eve of tomorrow's shareholders' meeting. Among the other banks Intesa -0,17, Unicredit +0,28%, Mediobanca +0,64%.
The race never stops Fondiaria-Sai +2,07% together with Unipol +1,7%. Generals +0,06%.
Telecom Italy -0,43% on the day of the meeting called to vote on the revocation of the current board of directors.
Mediaset still up +0,47%.
L'Espresso is weak at 1,317 euro, despite the fact that Equita, in an in-depth analysis dedicated to the media sector, has promoted the share to “buy” from “hold” bringing the target price from 0,8 to 1,6 euro.
Among industrial stocks, Pirelli drops by 0,17%. Tronchetti Provera's right-hand man, Francesco Chiappetta, leaves his operational positions at Pirelli and becomes the company's senior advisor to oversee the evolution of governance and shareholders over the next four years.
Positive Fiat +1,45%. “We have made some courageous decisions which mainly concern the Italian plants and which we are convinced will pay off in the coming years: instead of closing some plants, we have chosen to focus on the upper part of the market, fully exploiting the potential of our brands and the numerous advantages that we derive from the alliance with Chrysler'. Thus the president of Fiat, John Elkann, and the ceo Sergio Marchionne in a letter sent to all employees of the group worldwide.
Prismian -0,49%. Finmeccanica +0,76% and StM +0,92%.
Weak It is in the -0,77%, which suffers from the risk of nationalization of its subsidiary in Argentina.
Eni advances by 0,36%. Lastly, the new names in luxury are on the rise.
Yoox +2,4% after yesterday's rally (+7%). Starting next Monday 23 December, the share of the online luxury company will become part of the blue chips of Piazza Affari.
Cucinelli +1,3%.
Moncler slows down -1,1%.
