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Mps, Passera retires but the title goes up

The former minister withdrew his relaunch proposal due to the Sienese bank's "explicit closure attitude" - However, there is talk of an emergency plan for Rocca Salimbeni discussed by the government with Brussels - In light of the Ftse Mib also Mediobanca, Enel and Leonardo – Male Cnh Industrial and Stm

Mps, Passera retires but the title goes up

Clear-variable at Milan Stock Exchange, on a limited trading day for All Saints' Day. In the middle of the day, the Ftse Mib travels just above parity (+0,1%), like the other main European indices: Ftse 100 + 0,28% Ibex 35 + 0,32% Dax + 0,24% cac 40 .

Among the titles of weight in Piazza Affari shines Ps (+1,65% after a sprint start). Today's news is that Corrado Passera withdrew his proposal as a “consequence of the Bank's explicit closure attitude – he writes in a letter to the board of directors and the board of statutory auditors -. Three weeks after the meeting, it has still not been possible to initiate any further investigation. Ours was a serious proposal for recovery and relaunch, which would have given a central role also to the current shareholders". All thanks to "leading investors who had already expressed official interest for 2 billion". The former banker is convinced that the current recovery and recovery plan, "not 'rescue' as it is too often defined", must be more "robust than the one presented in recent days" in order to attract significant investors.

According to press reports there would also be an emergency plan for Rocca Salimbeni, discussed by the government with Brussels, with a public guarantee on the increase against the mandatory conversion into shares by subordinated institutional bondholders only. Meanwhile, CEO Marco Morelli's roadshow kicked off yesterday from Qatar to arouse investor interest in the 5 billion capital increase. The tour will continue in Europe and the USA and, according to Radiocor, an appointment in Singapore with Temasek, already a shareholder of Moncler, is also being prepared. Tomorrow a meeting of the Mps board of directors is scheduled (Morelli will be connected by videoconference) for the approval of the reports for the assembly,

The Mps chapter archived, other titles highlighted among the blue chips are Mediobanca, (+2,17%), recovering after yesterday's bad session, Brembo (+ 1,15%), Enel (+1,43%) and Leonardo (+1,06%). Among the worst of the morning Cnh Industrial (-2,12%), stmicroelectronics (-1,84%) And Tenaris (-1,32%).

Starting with the minus sign for the Italian secondary, which moves in harmony with its German counterpart. The yield gap between the ten-year BTP and the equivalent Bund has risen to 151 basis points. 

Moderately positive day for the stock market Tokyo and the other Asian stock exchanges, thanks to data from the Japanese PMI (the top for nine months at 51,4 points in October from 50,4 points the previous month) and the Chinese PMI (up to 51,2 points from the previous 50,1, resulting in the top since July 2014).

The expansionary policy of Japan also contributes to supporting the Japanese market Bank of Japan, which confirms negative interest rates and asset purchases, postponing the 2018% inflation target to 2. However, a big name like Sony reports a profit drop of 86% in the quarter from April to September. The Nikkei closed up 0,10%, while the Topix gained 0,02%. More uncertain is Seoul, which limits 0,04%.

On the macro front, in addition to the data from China and Japan and the choices of the Japanese central bank, it should be noted that the Australian central bank has left interest rates unchanged at 1,5%, as expected, confirming the monetary policy.

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