Gallop Business Square waiting for the stress tests. The Ftse Mib index rises by 1,9% to 16.900. Alone Madrid maintains a comparable pace (+1,2%): Frankfurt +0,4%, unchanged Pariseven in negative territory London (-0,25%).
Several reasons justify the rally of the Italian Stock Exchange, starting from the banks: the Eurostoxx Banks index rebounds by 2,4%, above all thanks to the push of Italian institutions. In addition to the probable promotion of four out of five institutions in the Bel Paese in the stress tests, the ECB's ok to the plan is beneficial Mount Paschi (+7,2% at 13 pm), on perhaps the most memorable day in the half-millennium of history of the bank of Rocca Salimbeni.
The Board of Directors is still in progress, already grappling with the alternative proposal illustrated by two letters from Ubs and Corrado Passera, an intervention that is nonetheless considered positive because it confirms that, even if at prices per share close to zero, someone thinks there is value.
The advance of the Generali: +9,5% to 12,04 euro, best blue chip of the day. The insurance company closes the first half of the year with profits above analysts' estimates, but down due to low interest rates, the higher write-downs made in the second quarter due to the effect of the stock markets and the application of a prudent policy . Management has confirmed its intention to improve shareholder remuneration: this year a dividend per share of 0,72 euro was distributed for a yield of 6,55% on today's listing. CEO Donnet then announced that the company will join in Atlante 2 with 200 million euros.
The descent continues Petroleum: Brent loses 1,5% this morning to 42,1 dollars a barrel. Under the pressure of crude oil falls Eni (-1%) on the day of accounts. The company announced a loss of 290 million euros, from a profit of 505 million in the same period last year. Saipem -1,2%.
Heavy thud of Mediaset (-7%): in addition to the conflict with Vivendi, the disappointing results weigh. Société Générale cut the rating to Hold da Buy.
Recover instead Fiat Chrysler (+2%). Goldman Sachs reiterated the Buy, target 7,50 euros. Among other stocks on the rise Telecom Italy (+2,4%) ed Enel (+1,6%). Among industrial stocks, Leonardo +2% and StM + 2%. That +5% after the Caltagirone-Suez agreement.
On the macro front, looking forward to the US GDP which will be communicated in the afternoon, the drop in the dollar against the yen and euro holds the ground. It weakens the Waist: the yield falls by two basis points to -0,07%.
