RENTI TODAY FACE THE TEST OF THE CTZ. WALL STREET ATTEMPTS A NEW RECORD
“Rarely have I been so calm on the eve of an auction” said Maria Cnata yesterday, responsible for the Italian public debt. Graziano Del Rio's lunge on the Bots did not create turbulence even if, he added, on the subject "a little caution is not bad" recalling that the small saver is also affected by the increase in the tax on the securities dossier which is added at the rate of 12,5%.
But the markets flaunt a calm that borders on indifference in the face of the first steps taken by the Renzi government. Piazza Affari welcomed the presentation of the program to the Senate with an increase of 0,42% in line with the other lists of the Old Continent. On the debt front, the 10-year BTP was traded at a yield of 3,61% with a spread at 193, unchanged compared to Friday. The real test, however, begins today with the offer of up to 3,5 billion Ctz and Btpei, while on Wednesday it will be the turn of 8,5 billion six-monthly Bots. But the highlight, as usual, will be the medium-long term auctions on Thursday's agenda when, as anticipated by the Cannata, a new 5-year will go up for auction. The overall supply of 10-year BTPs, Ccteu and BTO 3,75 (coupon at 7%) will be between 9 and XNUMX billion.
ROARING BULL IN USA, ASIA FOLLOWS
The Tokyo Stock Exchange rises +1,5% in the wake of Wall Street. The star of Softbank shines +3,5%, one step away from the conquest of Naver +6,5%, the Korean WhatsApp. Hong Kong +0,50%, more cautious Shanghai +0,12% after the crash on the eve.
Record time on Wall Street. The S&P 500 index +0,62% reached a new all-time high during the session and then fell back to close at 1847,61, less than a point from the peak reached on January 15th. From the lows of 3 February, the list recovered 5,8%. The Dow Jones rises by 0,64%, the Nasdaq does better by +0,69%.
Carl Icahn has targeted another prey in Siicon Valley: eBay +3,1% on the wave of the raider's request to proceed with the PayPal stew, the secure payment system headed by the online auction company.A the rally in health sector stocks was also pushing the lists: the cuts expected by Medicare were lower than expected.
LONDON AT THE HIGHEST SINCE 1999. THE KIEV EXCHANGE UP 15%
Stock prices on the rise throughout Europe: the Eurostoxx 600 index +0,6% is at its highest level since 2007. In Paris, the Cac-40 gained 0,87%, the Dax in Frankfurt 0,54%, Madrid, euphoric after the Moody's promotion, it rose 1,21%. In London, the FTSE 100 is at its highest since 1999.
Of note, however, are some discounts. In London, HSBC dropped by 2,8% after disappointing results. PostNl, or the Dutch Post Office, suffers a 20% drop. Finally, Volkswagen retreats by 6,5% after the offer to acquire the entire capital of Scania +32%. The index of the Kiev Stock Exchange jumps: +15%. The yield on Ukraine's 2023-year bond (maturity 9,25) drops to XNUMX%.
LUXURY STARTS AGAIN WITH FERRAGAMO. THE ACCOUNTS OF MONCLER
In piazza Affari the best title of the Ftse Mib was Salvatore Ferragamo +2,22% thanks to the words of CEO Michele Norsa, who spoke of a good start for 2014, growth forecasts for the entire year and a price increase starting in May.
At closed markets Moncler +1,61% announced the 2013 accounts filed with a normalized net profit of 96,3 million euros, an increase of 17%, on revenues of 580,6 million, an increase of 19% (+25% at rates of constant exchange rate). The data is in line with the consensus. Goes down Yoox -0,32% despite Mediobanca Securities raising its recommendation from neutral to outperform.
The Mediobanca report also dealt with Brunello Cucinelli +0,48% (underperform from neutral) and confirmed Luxottica +1,34% among favorite stocks. Tod’s + 0,66%. sapphire + 0,84%.
CHINA SPEAKS UP ON THE FINMECCANICA FRONT
Day of hikes for the state industry. Ansaldo Sts advances +1,41% followed by Finmeccanica +0,7% with the hypotheses of the weekend according to which China Cnr Corporation, world leader in the construction of locomotives, would be betting on Italy and would be interested in acquiring both the listed company and by Ansaldo Breda.
In the industrial sector Fiat fell by 0,7%, StM 0,7% salt, Pirelli -0,08%. Indesit gained 5,45% to 10,65 euros. For Fidentiis experts, the good performance in the last period is due to the M&A appeal, which has already been partially discounted.
HOT DUEL IN CARIGE, WAITING FOR THE POPULAR BANK
In great evidence Banco Popolare +1,89% which will present the 2014-2016/2018 business plan on Friday. Understanding rose by 1,8%, Unicredit +1,3%, while Ubi lost 0,24%, B for 0,37%. Closures unchanged for Banking Pop. Milano e MontePaschi.
Avanza Cariges +1,15% on the day of the remote comparison to evaluate any moves after the bank's announcement of the establishment of a guarantee syndicate for the capital increase of up to 800 million euro by 31 March. Today CEO Pier Montani will go to the Bank of Italy. Meanwhile, the governing board of the Carige Foundation has given a mandate to President Momigliano to discuss in the board of directors the postponement of Carige's capital increase to June.
Also noteworthy is the leap of Bank Profile +15,27%, rallying from the publication of the targets of the 2014-2016 industrial plan of the institute controlled by Matteo Arpe. Negative assurances: Generali -0,3% UnipolSai -0,2%.
BARCLAYS BRAKES ENI, SARAS IN FLIGHT
Telecom Italy retreats by 0,2%. Down Atlantia -0,6% after UBS cut its rating from buy to neutral with a target price rising from 17 to 18 euros. Same fate for Eni +0,35%, with Barclays having reduced the recommendation on the stock from overweight to equalweight, with the target price instead down from 23,5 to 20,5 euro.
Enel +0,2%. New steps forward by Saras +3,45%. The title benefited from a series of positive assessments after the publication of last Friday's accounts but, above all, also from the prospect of new purchases by Rosneft.
SMALL TITLES RUN: TISCALI AND MONDO TV
At the top of the list once again Tiscali +25,48%, which benefited from rumors according to which the group could close the 2013 financial statements with a profit, for the first time since the day it was founded.
Follows TV world he finished the session with a +19,78% at 0,8265 euro. Last week, the company announced that it had signed a licensing agreement with Almaz Productions, a Tunisian audiovisual production and distribution company, which provides for the transmission in Tunisia of Gormiti and other programs on free-to-air channels.
