FONSAI AND UNIPOL FIND SPARKS. NERVOUS BAGS WAITING FOR BERNANKE
All in the red, after a positive start, the stock exchanges awaiting the hearing of Ben Bernanke. In Milan, the Ftse Mib index lost 0,16% to 15504. The Stoxx 600 index, which yesterday reached its highest level in the last six weeks, recorded a drop of 0,3%. In Milan, the Ftse Mib index lost 0,4%. The heaviest drops in Paris (-0,55%), Frankfurt (-0,58%) and London (-0,54%). Madrid -0,96% is the black shirt.
In Europe, what stirred the waters was the news, published by Bloomberg, of an extraordinary conference call scheduled for next week by the finance ministers of the euro area to address Greece's problems. This morning Portugal, which has practically no government in office, placed 1,5 billion euros of short-term bonds. Lisbon has placed 1,2 billion euros of 12-month bonds with a rate of 1,72%, the highest since October 2012 from the previous 1,232%, the coverage ratio drops to 1,8 times from 2,2 times.
The spread remains at high values, at 291 pending the German auction. The BTP yields 4,47% (+1 basis point), the Spanish Bono 4,68% (+2 basis points), the Bund 1,56% (+2 basis points).
The Ligresti affair does not weigh on Milan. Fondiaria-Leaves, after a negative start, is even among the best stocks: +1,97% after this morning the Guardia di Finanza of Turin arrested Salvatore Ligresti, his two daughters (Paolo is missing, apparently in Switzerland) and two former directors delegates of the Fondiaria-Sai group, Emanuele Erbetta and Fausto Marchionni. The alleged crimes are aggravated false accounting and market manipulation.
Unipol it even rises by 2,51%. In a press conference, the prosecutor Vittorio Messi spoke of pecuniary damage estimated at 600 million euros. Generali -0,22%. Reverse course after successful start MontePaschi -1,1%. Banca Popolare di Milano -2,57%. Understanding 0,63% salt, Unicredit lose 0,4% Where's Banca -0,4%.
Among industrial stocks, Fiat drops by 2,04%. StM -0,13%. Dutch this morning Asml, the European leader in chip printing machinery, raised its targets. Finmeccanica drops by 0,27%. The company was yesterday downgraded by Fitch to BB+ from BBB- with a negative outlook.
Weak utilities: Enel -0,6% Enel Green Power loses 1,31%. On the rise Telecom Italy which gains 2,32% after the reopening of Franco Bernabè on the spin-off of the network. Eni -0,12%.
Rcs Media Group trades around 1,15 euro, down by more than 5% compared to the value of the issue of 1,235 euro.
