Today will be the richest day of dividends of 2013 in Piazza Affari, with the indices that will therefore open under the effect of the coupon detachment. The impact on the Ftse Mib at the start of the session will be 1,6%, due to the drop in prices corresponding to the amount of the dividend. However, the start in Milan was better than expected: -1,6%. The companies with the highest capitalization of the main list will detach the coupon today, 22 out of 40 in total, including Eni (1,08 euros per share), Unicredit (0,09 euros), Intesa Sanpaolo (0,05).
Among the financial stocks, Azimut (0,55), Generali (0,2), Mediolanum (0,18) and Ubi Banca (0,05 euro) also detached the dividend. In addition to Eni, among the energy stocks there are Enel Green Power (0,0259), Saipem (0,68), Snam (0,25) and Tenaris (0,3261). Luxury is also the protagonist, with Luxottica (0,58), Ferragamo (0,33) and Tod's (2,7). Finally, appointment with the detachment also for Pirelli (0,32), Ansaldo Sts (0,18 euro), Atlantia (0,746), Buzzi Unicem (0,05), Campari (0,07), Diasorin (0,5 euro ), Lottomatica (0,73) and Parmalat (0,039).
The index could recover a large part of the "coupon decline" during the day. In fact, dividend day happens at an exceptional time for price lists. This morning all the Asian lists opened upwards. In Tokyo, despite the yen's rebound. The Topix index is at its highest level since August 2008. The Nikkei index is up 1.$%. Among the best Hong Kong +1,7%. But the plus sign unites all markets: Shanghai rises +0,2% along with Seoul, Singapore and Taiwan. Major Asian exporters (Toyota +1,9%) lead the rise. This is the effect of Friday's US data, especially that relating to American consumer confidence, the highest since July 2007.
EVEN WALL STREET STARTS FROM NEW RECORDS
On Friday, the S&P 500 index +1,03% reached yet another record on Wall Street: Dow Jones +0,80, Nasdaq +0,97%. Since the beginning of the year, the gain is 16,9%m against around 45% in Tokyo. To give a measure of the race on the stock markets is the flow of capital towards the funds: in the last week 14,7 billion dollars (globally) went to the stock funds, of which 6,8 billion to the funds Japan against 3,4 billion for bond funds. Since the beginning of the year, equity funding has risen by 176 billion, slightly above bonds (165 billion).
More modest numbers for Europe: only 468 million for shareholders. But the return of interest in peripherals is striking. Greece also closes the week with a positive balance (5 million). During the week, Piazza Affari gained 9%, bringing the performance since the beginning of the year to +1,8%. On the government bond market, the yield on ten-year BTPs fell to 8,1% and the spread narrowed to 3,89 (-257 basis points).
The overall index of the Stoxx 600 European Stock Exchanges rose by 1,1% in five sessions. The performance since the beginning of the year is +10,2%. In Europe, the strongest increases are from automotive stocks after the positive data on car sales in Europe in April (+1,8%). Peugeot and Renault rose respectively by 9,9% and 3,8%, Volkswagen gained 3,1%, Daimler +3,7%.
SPOTLIGHTS ON ON PIRELLI/CAMFIN
In Piazza Affari, however, Fiat ended up down by 1,4% after Bernstein (American broker) lowered the recommendation to "market perform" from "outpeform". Pirelli's scenario is different, up 3,8%. The first shareholder Camfin is up by 3,1%. Today Mtp, the holding company of the Tronchetti Provera family issued a press release stating that "there are talks and contacts with industrial and financial investors interested in accompanying processes for rationalizing Camfin's ownership structure". In Milan the banks went up: Unicredit gained 0,7%, Intesa +0,4%, Banco Popolare +2,9%, Monte Paschi +1,4%, Pop.Milano +1,6%. EBA, the European Banking Authority, has announced the postponement to 2014 of the next stress tests for banks in the European Union.
