THE BOUNCE OF THE MARKET PLACE FAILS. SPAIN, AUCTION OK BUT WITH RISING PRICES
La Spain it placed 3,05 billion euro of government securities (waiting for an offer of 2-3 billion) in three and six months, but at sharply rising rates. The three-month issue yielded 2,650% versus 2,5% on the last issue, while the six-month government bonds were placed at a rate of 3,950%, up from 3,369% previously.
The attempt at a rebound by the markets ended, after an encouraging start, even before the outcome of the auction on the Iberian Letras. The yield on our ten-year BTP, which had fallen to 6,23% in the first trading days, rose to 6,41%, a new high in 2012. Similarly, the spread with the Bund went from 498 to 517 in just a few minutes.
The yield on the 10-year Spanish Bono is 7,43%. In Piazza Affari the index FtseMib drops by 0,85% to 12598. The stock exchanges of Paris drops by 0,06%, Frankfurt -0,11%, goes up London +0,11%. Among the banks there are still some recovery attempts, such as that of Unicredit + 0,08%.
According to the Financial Times Unicredit (which has seen the recent entry of hedge funds and foreign shareholders) could be a first break-up test aimed at creating value. The newspaper claims that, in light of the growing regulatory complexity and lower income prospects, European banking shareholders are ready to push for a simplification of the banking industry, which has become too complex both in geographical and business terms (retail/investment banking mix) .
Salt too PopularMilan +2,76%. But most stocks are down: Understanding down 1,57%, Mediobanca -2,15% MontePaschi -1,71%. This morning the Financial Times published an interview with Alessandro Profumo: "There is no plan B - says the new president - if we go bankrupt it will not be possible to maintain the independence of the institution".
The Bags of Paris e Frankfurt drop by 0,2%, London -0,1%. Impregile it rose 0,5% after announcing a $650 million order to build a bridge in California. Thump of StM -4,2% after quarterly results announced tonight. The loss was $75 million, broadly in line with analyst expectations. Down Enel Green Power -2,3% and Terna -0,8% who will announce the results for the quarter in the afternoon. Among the industrialists it rises Pirelli +3,15%, down Fiat -2,8%. The landslide continues Mediaset -3,5%, which has now reached the threshold of 2,5 euros. Sharp decline of Unipol -8,4%. Downhill too Mayor Tecnimont -2,7%.
