Il Petroleum is in sharp decline, with Brent trading at 39,4 dollars a barrel (-2,2%), after the rise of 4,3% last week. WTI at $37,1, down 3,6%. Iran will not join any production freeze plan until it reaches an output of 4 million barrels per day. Tehran's oil minister, Bijan Namdar Zanganeh said so yesterday.
At Piazza Affari Eni it closed up 0,5%. The company announced yesterday the start of production in the large Goliat oil field, located in the Barents Sea off the coast of Norway. Tenaris -0,4% Saipem + 0,2%.
Saras +9,46%: the company has announced that it will pay a dividend of 0,17 euro per share on 2015 results. Compared to the current quotation, this means a gross return (yield) of 12,5%. The consensus expected a penny more.
The Exchange of Milano, unchanged, was held back by profit-taking after Friday's sharp rise (+4,8%). Last week Piazza Affari was the best stock exchange in Europe with a rise of 3,8%. The other markets were positive yesterday: Paris + 0,3% London + 0,5%.
The Exchange of Frankfurt achieved an increase of 1,6%. Judging by the performance of the Dax index, investors were not upset by the weakening of Angela Merkel in Germany, after the regional elections yesterday in three German states.
THEeuro it was losing ground against the dollar to 1,096, from 1,109 at Friday's close.
The Treasury proposes again BTP Italy: between 4 and 7 April next, the new security indexed to the trend of national inflation will be offered. The issue has a duration of eight years and expires in April 2024. This is the ninth transaction designed for retail investors, which will be placed on the Mot market of Borsa Italiana.
The guaranteed minimum annual real rate of the new operation will be communicated to the public on Friday 1 April, explains the note from the Treasury. The placement method is the same as the last three issues: a first phase from Monday 4 to Wednesday 6 April (three days which can be reduced to two in the event of early closure) reserved for individual savers and similar; the second, on the morning of Thursday 7 only, reserved for institutions.
Day of adjustment for bank stocks, after the boom on Friday. But there was one exception: Monte dei Paschi +10,3%, great protagonist of the chair among exceptional volumes (over 200 million in value).
The rumors of Repubblica pushed the title, according to which the premier Matteo Renzi would be trying to convince Cdp and Banca Intesa to acquire control of the Tuscan bank. The title reduces the loss since the beginning of 2016 to 48%.
Among the banks protagonists of Friday's rise are backwards Unicredit (-1,1%) And Understanding (-2%), held back by rumors about participation in the acquisition of Mps. Instead, the Populars went up: Pop Bank. Milan + 1,4% Pop. Emily + 1,3% Popular Bank +2,6% and Ubi + 1,2%.
Among the insurance Generali fell by 0,8%, UnipolSai + 0,4%.
In great evidence Campari, which finished the session up 5% after confirming that the group will buy the distribution assets of France's Grand Marnier. But in the evening, the Le Figaro website revealed that the Italian company is preparing to launch a friendly takeover bid on the French brand. According to reports from the newspaper, the heirs of Jean-Baptiste Lapostolle and Louis-Alexandre Marnier, who control the majority of the capital of Grand Marnier and 60% of the voting rights, have agreed to sell their shares to the Italian group. The transaction values Grand Marnier at over 1 billion euros, i.e. more than double the market capitalization of 426 million. Grand Marnier mandated Rothschild last November to explore various possibilities, including that of a sale. The French stock is up 17% over the past twelve months.
Enel finished down 0,3%, Telecom Italy -0,9%, brilliant increase of Mediaset (+2%). In the luxury sector Ferragamo marks a progress of 1,7%, Yoox + 2,6%. Fiat Chrysler rose by 2,8%. This morning Kepler-Cheuvreux reiterated the Hold recommendation, lowering the target price to 7,50 euros from 8 euros. Thanks to a 40% rebound in the last month, the FCA stock has reduced the loss since the beginning of 2016 to 19% and has also reduced the gap with the European automotive sector (+12%).
Sergio Marchionne said Fiat Chrysler is considering offering a bond issue. Cnh Industrial +2,9%: today there will be the placement of a dollar bond between 500 and 750 million dollars.
Positive day also for Finmeccanica +2,9%. L'Hitachi's takeover bid on Ansaldo Sts it closed with acceptances equal to 10,705% of the shares offered, 6,416% of the capital. The Japanese company, which now controls 46,482% of the share capital, will now be able to increase its market share. Some funds have lined up against the offer, contesting the price, deemed too low, and appeals have been presented to the administrative judiciary. Hitachi also contested Consob's request for a price increase. A hearing before the Lazio Regional Administrative Court on Hitachi's appeal against the Consob resolution is scheduled for today.
