Mps +5,84% runs on the Ftse Mib, in contrast to the weak performance of the banking sector (Unicredit +0,38% and Intesa -0,81%). Over the weekend, the Foundations of Biella and Vercelli refused the sale of Biverbanca. In particular, the Foundations communicated to Mps "that they have not approved, at the moment, in the proposed formulation, the project for the spin-off of the stake in the Bank of Italy held by Biverbanca, prodromal to the finalization of the transfer transaction to CR Asti of 60,42, XNUMX% of Biverbanca owned by Banca Mps”. Thus, alternative methods are being studied for the purpose of finalizing the sale of the aforesaid shareholding. Sprint also by A2A +4,94%, Salvatore Ferragamo +3,49%, Lottomatica +3,28% and Atlantia +2,90% which placed a new bond with orders exceeding 8 billion.
But the Ftse Mib closed slightly down -0,11%, as did the other European stock exchanges: Frankfurt -0,01%, London -0,03% and Paris -0,37%. The markets are waiting to understand what will happen in the next few days with crucial appointments on the agenda. The verdict of the German Constitutional Court is expected on Wednesday bottom Save states Esm, the same day there are elections in the Netherlands while on Thursday the Fed could announce a third quantitative easing program to stimulate the economy. Ben Bernanke, at the helm of the US central bank, on the other hand, recorded a slower-than-expected US employment figure on Friday. Then there are the negative Chinese macroeconomic data with the collapse of imports. And for this reason we are also looking at the next moves of the Chinese central bank.
On the markets, the Btp-bund spread rises to 362 points from 353 at the opening. Today, Istat revised downwards its GDP estimates for the second quarter of 2012, bringing them to -0,8% per month against -0,7%. Over the year, the figure worsens to -2,6% from -2,5%. While questions are being raised about the conditionalities that will apply to the ECB's anti-spread intervention, Minister Grilli reiterates that as of today Italy has no need to ask for intervention from the Eurotower.
The meeting between the Troika and Samaras in Athens today resulted in a stalemate: sources close to the government have revealed that the troika has essentially remained on its positions and does not seem to have been convinced by the premier's arguments to adopt alternative measures in the cuts necessary to restore the country's budget
The request for safe harbors continues for now still continues to reward the Germany, despite last week's bund auction flop. Today's auction of six-month bonds recorded a negative average yield to -0,0147% against +0,0499 on August 13th. Berlin, however, aimed to raise 4 billion and received offers for 5,125. The euro retraces to 1,2794 (-0,18%).
Gold has also raised its head in recent days, returning to 1740 on Friday after a jump of 2%. Today as European markets close, it retraced to 1733.
In Piazza Affari Camfin is on the shields (+11,98%) after the endorsement from Ambrosetti to Marco Tronchetti Provera's leadership and while the market is wondering about the next moves in the tug of war with former friend Malacalza. Equita sim analysts reiterated the 'buy' recommendation, although they adjusted the price target to 0,61 euro (from 0,63 euro). "The disagreement between the main shareholders of the holding, namely Tronchetti (in favor of the issue of the convertible bond) and the Malacalza family (who would like a capital increase) does not justify the speculative appeal - Equita analysts argue - Our purchase recommendation it is dictated by the analysis of the fundamentals: the high discount on the net asset value and the prospect of an increase in Pirelli shares”. For Equita, a capital increase and the sale of Pirelli shares cannot be ruled out, while the solution of a bond convertible into Pirelli shares is still probable. RCS, protagonist of an unprecedented rally in recent weeks, closed the fourth session in the red, down 16,52%. The extraordinary meeting of the board of directors is scheduled for tomorrow which will probably discuss the new industrial plan expected for the autumn while the RCS syndicate pact could meet on September 21 At the bottom of the list Ansaldo Sts -3,58% that Goldman Sachs has cut the rating to sell from neutral, Stm -2,62% and Fiat industrial -2,03%.
