At the end of the morning the European stock exchanges they briefly regained share and then slowed down again in a nervous day conditioned by the auctions of Spanish and then French sovereign debts. Both Spain and France saw yields rise slightly but still filled up on debt issuance. Accomplices the tensions on the spread at 380 odds Milan moves uncertainly oscillating around parity. At 13 pm the index rose by 0,15%. The reassurances of the European Union help the price list: The deficit/GDP ratio forecast by Italy for 2013 (0,5%) "is in line with the forecasts formulated by the European Commission", thus commenting on the data disclosed yesterday with the Def. The other main European markets confirmed the plus sign more decisively: London rose by 0,58%, Frankfurt by 0,31% and Paris by 0,44%.
La Spain it placed a total of 2,54 billion in ten and two-year bonds compared to a maximum target of 2,5 billion. Ten-year yields rose slightly to 5,743% from 5,403% in January, while rates on two-year bonds stood at 3,463%. Well the question: 2,42 times for the tenth anniversary. It was also sold out in France with a placement of 8 billion in the short and medium term. But even here rates are up slightly: the five-year bond offered an average yield of 1,83% compared to 1,78% at the previous auction.
Even the bund spread reacted with a slight increase: after the Spanish auction, the Bono-bund differential rose to 414 points to then return to 410 points while the Btp-Bund, which was down to 370 points in the morning, reached 383 points to then retrace to 380.
Il Ftse Eb is weighed down by Campari, Telecom Italia and Fiat, at the bottom of the Ftse Mib. In particular, the Lingotto expanded the decline after the analysts' estimates on the quarterly and annual net income respectively at 205 million and 1,13 billion.
Between the best titles on the Ftse Mib Autogrill which rises by more than 4% after confirming the 2012 dividend in case of confirmation of at least the conditions of 2011 and after the declarations of Gianmaria Tondato, CEO of Autogrill, on the possible future spin-off of the activities: "We'll see, it will depend on the type of structure future we will have. Surely what we have already done is to make the debts of the two divisions independent”. “The more we go on, the more it will be like this.” Contrast the banks with Banco Popolare which rises by 3,19% and Bpm +1,98% while Unicredit moves slightly below parity at -0,19%, Ubi at -0,60% and Understanding to -0,51%. The balance sheets of Italian banks “must become more solid. It is necessary to review the criteria of the entries, further improve the financial structure, rebalancing it. It is necessary to extend the maturities and rebalance the sources of financing”, “commented today the deputy general manager of the Bank of Italy, Anna Maria Tarantola, during a speech at the 3rd Banca & Impresa forum. concluded Tarantula.
But the eyes of the market today are on Fonsai match with the board of directors of the insurance group which meets to discuss exchange rates and to fix the final details for the merger. Complicating the game in recent days was the intervention of the judiciary which requested the bankruptcy of Imco and Sinergia, two companies of the Ligresti family in which, among other things, 20% of Premafin is kept. Which could make the task of Fonsai's independent advisers on the basins more delicate than it already was
