Flat day for the European stock exchanges, with the Ftse Mib turning positive only at the end: +0,11%, reaching and exceeding 19 points at 19.014,75. The other price lists of the continent are in line: +0,6% Madrid; +0,33% Frankfurt; +0,29% Paris, +0,18% London. In the middle of the day Wall Street travels in no particular order, with the Dow Jones positive and close to 20 points.
On the other hand, the end of the week looks rather rough on the bond front, with the spread between the Btp Italia and the ten-year Bund which rises by 6,42% to 157.40 basis points, yield 1,90%. The growth in yields could be influenced in part by the approaching holidays and the consequent suspension of bond purchase operations by central banks and in part, as far as Italy is concerned, by the uncertainties linked to the recapitalization of MPS, which today , after many ups and downs, closes at +1,31%.
For the oldest Italian bank A race against time has begun, with many hurdles to overcome. During the day we learn that there has been one heavy reduction in commercial direct deposits starting from the referendum, savers fled, frightened by the critical situation. Thus, according to Reuters, there would also be a liquidity alert. This was revealed by a trader who cites the "supplement to the prospectus of the capital increase in which it is written that, according to the ECB, MPS would have 29 days of liquidity left from 4 December".
All while there are 5 days ahead, until 21 December, to close the 5 billion capital increase. Then all that remains is the last council of ministers before Christmas, convened for Thursday 22 December 2016, with the famous plan B and the substantial nationalization of the Sienese Institute.
In this climate, the rest of the list holds up well, which offers hints of optimism: Salvatore Ferragamo +2,9; Unicredit +2,64%; Stm +2,05%; Saipem +2,88%; Recordati +1,17%; generals +1,62%; People of Milan +1,39%; Banco Popolare +1,08%.
In the popular area it is worth noting the thud of Sondrio (-6,53%), after emergency provision of the Court of Milan to inhibit the carrying out of the Extraordinary Assembly for the transformation into a joint-stock company, as a consequence of the decisions of the Council of State and pending clarifications from the Council.
Among the blue chips, the worst title is Luxottica, -2,02%. Out of the main basket great exploit of Snai +13,29%, which has completed the early repayment on non-convertible secured senior and subordinated bonds and announced that it will incorporate the subsidiary Trenno.
On the hot front of Mediaset there was a slight drop in the share (-0,51%) and the board of directors scheduled for 20 December, the first after the purchases of Vivendi (now at 20%). Telecom did well (+1,83%) on the day of the board meeting. At the end of the meeting, the vice president Arnaud de Puyfontaine, CEO of Vivendi, would have met with the minister of economic development Calenda. Brent up 2,13% to 55,17 dollars a barrel
