OI'S OFFER MAKES TELECOM ITALIA FLY
FALLING RATES PUSH BANKS RISE
Thanks to the good hold of the bank stocks Piazza Affari closed the session with an increase of 0,57% at 20.763.
In rest of Europe Frankfurt was down 0%, Paris is nearly unchanged +$0,19. London climbs 0,04%.
La American stock exchange it is little moved, it consolidates its positions after yesterday's new record. The three main indices are just above parity, volumes are modest also because there are no relevant macroeconomic data.
European financial markets are supported by expectations of unconventional measures by the European Central Bank. The bond buyback program is about to take shape, a spokesperson for the institute confirmed today that BlackRock, the world's largest asset management company, has been commissioned to revitalize, making it more liquid, the market for bonds coming from securitizations.
In reverse German Finance Minister Wolfgang Schaeuble throws water on the fire on Mario Draghi's statements: “I know him well – he said – I think he was misunderstood”. Meanwhile he continues the decline in government bond yields. The Btp to 10 years it strengthens again and its yield falls to levels never seen before at 2,37% (-3 basis points). The spread between Btp and Bund fell to 147 bp.
With today's movement, the yield on the XNUMX-year benchmark for Italy is lower than its counterpart in the United States. Returns never seen in history also for the tenth anniversary of Germany, France, Spain, Holland, Belgium, Austria, Finland and Ireland.
The limelight is all for Telecom Italia +3,17%. While awaiting the offer on Gvt, the surprise move was made by Oi, the Brazilian manager about to be merged into Portugal Telecom which announced yesterday that it had given a mandate to Btg Pactual to define a proposal for Tim Brasil. Telecom Italia's Brazilian subsidiary is up 9% in Sao Paulo. Oi salt of 6%.
Among banks, co-operative banks rise more on expectations of progress in governance: Ubi Banca +4,6%, Banca Pop. Milan +4,2%. Intesa scores a modest +0,1%, Unicredit +0,8%, Monte Paschi falls -1%.
Among insurance Unipol +4%, UnipolSai +1,4%, Generali -0,5% advances. The best blue chip is Yoox, up 6,7% on eBay's bid for UK-based Asos, itself up 13% in London.
The rest of the luxury: Tod's +1,3%, Ferragamo +2%. Luxottica +0,5%.
Sale Enel +0,2%, included in Ubs' list of recommended stocks. Snam -0,2%.
Eni -0,3% and Saipem -0,5%.
Finmeccanica is up 0,2%.
Fiat +1% awaiting the verdict on the withdrawal.
