Volatile morning in Piazza Affari which has to deal with the collapse of Fiat and the ups and downs on the banks. The Ftse Mib after a few passages in negative territory is now traveling up by 0,28%. Frankfurt +0,27%, Paris and London uncertain around parity. After S&P rejected Great Britain, Fitch confirmed the triple A rating on France with a negative out look which could lead to a downgrade in the rating in 2013. The BTP-Bund spread is around 323 basis points.
Shanghai leaps +4,32% driven by the data processed by HSBC on the expansion of Chinese manufacturing activity in December speculation about possible new money grafts and new stimuli from the government.
Fiat loses 2,54% with trading boom and halves losses after a collapse of about 6% and being suspended due to excessive reductions on rumors of a possible capital increase by the Turin company to finance the acquisition of 41,5% of Chrysler. In the morning, Lingotto specified in a note that "there is no project in this regard and believes that there is no need to resort to a capital increase".
At the end of the morning, however, banks regained positive territory cnot the Bpm which stands out among the best stocks of the Ftse Mib +1,56%. The other popular companies are also above parity: Ubi Banca +0,69%, Banco +0,17%. Yesterday a Mediobanca report hypothesized a scenario of future mergers in the popular world. Intesa +0,24% and Unicredit +0,11%. Mps +0,64%. Meanwhile in Warsaw Banca Alior di Zaleski (controlled by Carlo Tassara) debuts with a rise of 4%.
After the difficult agreement on the banking union, the integration works of the European Union have suffered a setback: the leaders of the 27 countries of the Union have postponed to June the other issues to be addressed in order to tighten the integration between the countries. Meanwhile, according to Eurostat, the employment rate in the Eurozone and in the EU-2012 returned to a negative sign in the third quarter of 27: both fell to -0,2% while in the second half of this year the number of employed persons had remained stable in the euro area and had increased by 0,1% in the EU-27. Also in Italy the employment rate returned to a negative sign to -0,1% against +0,6% in the second quarter of 2012 and -0,7% in the first. In the Eurozone, annual inflation is confirmed to be down in November at 2,2% based on the consolidated data published today by Eurostat. Italy at 2,6%. Bank of Italy has announced that the public debt has broken through the ceiling of 2.000 billion dollars to the highest level ever.
Generali (+0,45%) specified in a note that it is being examined by today's board of directors “no resolution concerning the partnership with Ppf” after press rumors that give for certain the purchase of the 49% not yet owned.
Telecom Italia (-0,84%) placed a 1 billion bond which received a good response from the market: books closed one hour after opening, demand above 6,5 billion euro and price better than initially expected with the spread down to 295 basis points on the midswap compared to 310-320.
