US DATA LENDS A HAND TO THE BULL. FLY TOKYO. MILAN ATTEMPTS THE REBOUND. WAITING FOR THE GOVERNMENT
According to the latest data, the US recovery is not slowing down. Asia takes note of this and closes the week with a rise which bodes well for the G20 meeting in Sydney scheduled to start tonight. In great evidence Tokyo +2,8%, thanks also to the minutes of the Bank of Japan. Positive ground also Hong Kong and Shanghai.
Wall Street regains good humor after the data of the Superindex on the American economy (Leading Indicator of the Conference Board) up 0,3%, from +0,1% in the previous month: the Dow Jones index grew by 0,57 %, the S&P 500 by around 0,75%, returning to its all-time high at 1.848 points, and the Nasdaq by 0,7%.
The market has promoted Facebook+2,6% after the acquisition of WhatsApp for 19 billion dollars. It is the largest Internet deal since 2001, when the $124 billion merger between AOL and Time Warner was announced. It also runs Tesla +9%. The luxury electric car company announced fourth-quarter 2013 earnings higher than analysts' expectations and expects to increase Model S sales in 2014 to 35 from 22.450 in 2013.
On the contrary, pharmaceuticals remained almost unchanged Eli Lilly despite the announcement that treatment with one of his drugs, in combination with chemotherapy, has been shown to increase the survival rate of lung cancer patients. The good news arriving from the USA reversed the course of the European markets, which were negative in the morning both for the news arriving from Ukraine and for the disappointing data of the European PMI. After a morning of braking, the London and Madrid stock exchanges closed in parity. Paris +0,3%, Frankfurt -0,4%.
Thanks to a good recovery in the final stages, Piazza Affari also closed a session in which the FtseMib index had even lost more than 1%. The BTP is weak: the 3,64-year yield has risen to 3,58% from 195% yesterday, the spread widening to 3 (+XNUMX basis points).
ADVERTISING, UBS SEES GRAY: MEDIASET FALLS
Among the blue chips the strongest downside is Mediaset -4,9%, penalized by a Credit Suisse report which speaks of a "surprisingly weak" start to the year for television advertising sales in Italy. In its European Advertising Monitor, dedicated to the collection of the main European television groups, the Swiss broker estimates a 3% contraction for advertising in Italy in the first quarter.
Advertisers in the food and beauty and personal care sectors remain cautious in the first quarter so as to reduce investments in television channels. Telecommunications reduced spending in the first quarter and 2014 is expected to be down, while forecasts of a slight increase in spending by the auto sector find only limited confirmation from the trend in the first quarter. The signals from Spain are more comforting, where growth of 5,5% is already expected in the first quarter.
ON SAIPEM SHIELDS. A2A: THE SALE OF 5% IN THE SPRING.
The best blue chip is the other way around Saipem, which gained 2,9% on the wave of good results from its French competitorTechnip, which in Paris achieved a rise of 9%. Crude oil prices are down slightly: Brent at 110 dollars a barrel (-0,3%). Eni closed unchanged. Tenaris, after the drop on Wednesday (-5,5%) due to the lack of US sanctions on imports from South Korea, recovered 0,3%.
The utilities are effervescent thanks to the renewed vein of A2A +2,2%. Equita raised the target price from 0,95 to 1 euro. During the Milan city council meeting, the mayor Giuliano Pisapia announced that the sale of 5% of the company will take place in the spring and the two main shareholder municipalities, Milan and Brescia, by each transferring 2,5%, will maintain the public majority with 50 % plus two shares. Pisapia added that he sees "no reason for further privatisation, which would not have positive results." Enel rose by 1,7%, Snam + 1,1%.
RESTORATION, ZUNINO. IMPREGILO, CLEAR ON PANAMA
The spotlights are turned on again on two now old-fashioned games. Luigi Zunino returns to office in Cleansing +12,31% to 0,2381 euros. The company confirmed that on 17 February it received, together with the company's shareholder banks, communication from Colony Capital Acquisitions of the offer of Oui, a company that will be attributable 30% to Luigi Zunino and 70% to Colony Capital Acquisitions .
It also starts again Salini Impregilo +3,16% after the Panama Canal was finally unlocked. An agreement has been reached between the Consortium of the main international construction companies Unidos por el Canal Group (GUPC) of which the Italian company is a member and the Panamanian authorities on an imminent injection of funds.
A BUY FROM NOMURA IS NOT ENOUGH FOR MEDIOBANCA
Mediobanca does not take off -1,17% despite Equita Sim and Nomura having raised their target prices respectively from 7,6 to 8,4 euros and from 6,1 to 6,5 euros, confirming the buy and neutral rating. Moreover, it was a mixed session for the credit sector, both due to the tensions on government bonds and to fears related to the start of the second phase of the European tests.
He paid the price especially the Banco Popolare -0,2% after Standard & Poor's revised its rating downwards to BB-: the next capital increase, according to the rating agency, will not secure the institution. Banking Pop.Milano + 0,1%. Unicredit-0,5% Understanding unchanged, Ubi -1,8%.
Between insurance Generali it dropped by 0,6% after yesterday's board of directors decided to bring the liability action against the former managing director Giovanni Perissinotto and the former general manager Raffaele Agrusti. The backlash for Unipol was less -0,21% on the news that the Antitrust has opened the non-compliance procedure for failure to transfer the asfusion with Fonsai. set imposed by the authority as a condition for granting the go-ahead for the merger with Fonsai. UnipolSai -0,4%.
INDUSTRY, ONLY FIAT IN POSITIVE SOIL
Among industrialists good reaction in the final of Fiat which closed up 2%. Bad sitting for Finmeccanica -1% andStM -1,2%. Prysmian also fell slightly -0,05% which in any case recovered after the sales due to Goldman Sachs' decision to remove the stock from the Conviction List, while confirming the buy rating (Tp from 23 to 21 euros).
FERRARESI REMEDIATION AT AUCTION. BUT THERE IS NO GENERALI
Today is the deadline for submitting applications for Bonifiche Ferraresi, the agricultural company that was put up for sale by the Bank of Italy. Genacricola, the Generali subsidiary which examined the dossier in recent months, will not participate in the auction in which a consortium of Italian entrepreneurs in the sector is favouring. Via Nazionale's 62,3% shareholding has a market value of 130 million considering a market capitalization of 211 million. The stock has risen by around 8% since the beginning of the year.
Among the other small caps, Innovatec performed well +5,77%, a company active in the renewable energy sectors which presented its 2014-2016 business plan yesterday. Positive start to the stock market adventure of Expert System +5,27%, leader in the development of semantic software used by companies to manage information, which debuted two days ago on the Aim.
