It's Mps fever in Milan, where the Sienese bank's rush to purchases reaches +31% in the afternoon, to then close at +28,28%, after several suspensions of the stock due to volatility. Shares equal to 14% of the capital were traded, allowing Siena to exceed one billion in capitalization.
The Ftse Mib benefits from the result and the index is up by 0,81%, in an overall well-tuned European context: +1,27% Madrid, +0,56% Frankfurt, +0,43% Paris. Minus sign for London -0,38. The stock markets of the old continent are also positively influenced by the positive opening of Wall Street: +0,6% the Dow Jones, +0,58% the S&P 500, +0,7% the Nasdaq.
In Piazza Affari the Monte dei Paschi case dominates, on the day of board of directors on the industrial plan (which will be presented tomorrow) and on the quarterly. The market is betting on the rebirth of Rocca Salimbeni which today, with a value of almost 35 cents per share (0,347 to be precise), capitalizes around one billion euros on the stock market, after having dropped below 500 thousand. From 30 September to today, the stock has gained more than 88,79%.
In line with Mps the whole banking sector sees pink, starting from Unicredit +4,04%. According to Leonardo Del Vecchio, shareholder with 2%, a capital increase of the institute "is probable", but it is not yet known "whether it is necessary". The Popular travel supportedi: Bpm (+2,11%) Banco Popolare (+1,92%), Bper, +3,42%, the latter awaiting transformation into a joint stock company and subsequent corporate developments, also due to rumors about contacts with Credito Valtellinese and a hypothetical interest of the Unipol group in taking part in a possible merger between the two banks.
Unipol +2,16%, Unipolsai +2,23%. Among the major increases Ubi Banca +3,23%; Mediobanca (2,47%), Intesa San Paolo +2,08%. Luxottica (1,74%) Exor (2,22%).
Telecom Italia (+2,59%) runs, followed by Mediaset (+1,38%) to a certain extent driven by the US super news in the world of telecommunications: the agreement reached by the AT&T group for the purchase of Time Warner, major American owner of Hollywood studios, CNN and Hbo.
Out of the main list Stefanel's performance stands out (+16,2%), on which the company declined to comment.
Worst stocks of the day, Campari -2,21% and Salvatore Ferragamo -1,56%.
Among the news to report: an advance on Italgas accounts, in view of the debut on the stock exchange on 7 November. In 2016 pro forma consolidated revenues exceeded 1 billion euros; Ebitda margin of 65%; Ebit/Rab ratio above 6% while the 2016 dividend per share will be 20 cents.
In the positive context, we report a slide on the Frankfurt Stock Exchange of Aixtron shares company that supplies technology to the semiconductor industry, after the government's decision to review the procedures related to the proposed acquisition by the Chinese fund Grand Chip Investments. According to observers, this is a symptom of Berlin's concerns over an excess of Chinese acquisitions of German technology.
Good news on the macro front, for PMI data on European industry: the index, which gives a snapshot of the expectations of purchasing managers of industrial and service companies for the next 3-6 months, rose to 53,7 from 52,6, 2016 in September, marking the maximum of 52,8, while it was expected at XNUMX.
US manufacturing activity on the other hand also picked up pace in October. The flash estimate of the manufacturing PMI, compiled by Markit, came in at 53,2 points, up from 51,4 in the flash reading in mid-September and better than the 51,5 points in last month's final reading.
The US price lists are also crossed by large corporate movements. In the telecommunications sector, AT&T (-1,3%) and Time Warner (-2,7%) stand out, protagonists of an operation worth 85,4 billion dollars, even if it has yet to pass the scrutiny of the antitrust. In the aerospace sector, the purchase of B/E Aerospace (+16%) by Rockwell Collins (-3,8%) for 6,4 billion dollars, excluding debt, is at stake. In the financial sector, TD Ameritrade (-1,4%) buys Scottrade for $4 billion. And the Chinese do more shopping: HNA Group announces the purchase of 25% stake in Hilton Worldwide Group from Blackstone Group for 6,25 billion dollars (26,25 dollars per share). After the operation, the investment fund will retain 21% of the capital of the hotel chain.
These are enzymes for the market, which help to digest news such as the drop in oil prices (in December the Nymex showed -1,36% to 50,16 dollars a barrel) and Iraq's request to be exempt from the production cut agreed by OPEC at the informal meeting in Algiers. A position that risks causing a domino effect, given that others could follow Baghdad's example.
On the foreign exchange front, operators' conviction of an imminent monetary tightening by the Fed continues to fuel the run of the dollar against other currencies: the greenback is at 1,09 against the euro and at 104 against the yen. Although for James Bullard, president of the St. Louis Fed and voting member of the Federal Open Market Committee, rates will remain "exceptionally low" for a long time. “Low rates – he argues – will probably continue to be the norm in the next two or three years”.
Asian stock markets closed higher this morning: +0,29% for the Nikkei index in Tokyo, +0,17% for the Topix. The Chinese stock markets are more tonic, with Shanghai rising by 1,21% and Shenzhen gaining around 1%. Taiwan +0,17%, Seoul +0,73%.
