The rebound in Piazza Affari continues: shortly after noon, the gains of the Ftse Mib exceed 5%, bringing the index above 16.700 points. The banks are always the protagonists, the great defeats of the last seven sessions, all consecutively closed - for the Milanese Stock Exchange - in negative territory, with losses that have come to wipe out the capital accumulated in the last two and a half years.
However, today is the day of recovery, especially for Unicredit which yesterday presented not exactly exciting accounts: the stock had been punished by falling below 3 euros per share, a threshold above which it returns today, gaining over 11%. Other banks are also above 10%: Banco Popolare above 7 euros, Intesa Sanpaolo around 2,4 euros, Bpm on the threshold of 60 cents per share. Around 12,20 the only blue chip that turns out to be in negative territory, albeit very little, is Telecom Italia with -0,06%.
Good news is also coming from other fronts: Italian industrial production in 2015 returned to growth after four years, despite the slowdown in December. The Bot auction also performed well: the entire amount (6,5 billion) was placed with rates rising even if still negative. Also from the banking front, signs of relaxation also from the other European stock exchanges: the leap of Deutsche Bank in Frankfurt to above 15 euros per share after the -13% accumulated in the last two sessions. Today the Financial Times writes that the German institution, thanks to liquidity reserves of 220 billion euros, is studying a plan to buy back bonds worth several billion euros. The bank has not confirmed at the moment but that was enough to trigger the purchases of the shares. In recent days, panic had spread over the rumors according to which the German banking giant could have problems paying the coupons on the riskier bonds in the event of disappointing operating results or higher-than-expected costs for ongoing lawsuits.
The Btp Bund spread is falling below 140 basis points. Oil rises slightly, while the euro is worth around lunchtime today 1.126375 dollars.
