ALL BAGS ARE REDUCING. MILAN -0,2%
BANCA MPS LIKES IT, IT ACCELERATES THE TELECOM LANDSLIDE
Business Square he attacked at the beginning of the session at 18.500. Then the rise was reduced and there was a trend reversal. At 12 the market was down : -0,22% to 18385.
London -0.72% Paris -0,45% and Frankfurt -0,23% are slightly down on par with Madrid -0,31%.
Alcatel-Lucent gains more than 1% on the Parisian market after announcing the cut of 10.000 jobs globally by 2015, as part of a restructuring plan that should allow the company to save one billion euros.
Il exchange euro Dollar traded at 1,356: the US currency recovered at least partially from the most recent lows in response to the first brightening on the possibility of an agreement on the US budget.
Moody's Investors Service considers a US debt default at the end of this month extremely unlikely.
"We have AAA ratings and a stable outlook (for the US), which reflect our view that a default is an extremely unlikely event," said the rating agency's president and COO, Michel Madelain, at a conference in Tel-Aviv.
On the front of sovereign bonds the spread is 250 basis points (rate at 4,33%). Today Athens is offering one billion six-month bonds at auction, placed last month at a yield of 4,20%.
Once again the banks are in the spotlight.
Mps is still up 1,6% after the board of directors approved the new industrial plan for 2017. The president Alessandro Profumo, in an interview, says that the bank will do it alone, "but we are willing to evaluate all the options in Italy and abroad, to now there is nothing concrete. For the moment, no one has come forward ”, he answered the question about alliances with other banks. And to a specific question on a possible integration with Intesa Sanpaolo he replies: “If there are large banking groups interested in 100% of the bank, we have a duty to examine every proposal. We have no foreclosures towards anyone”.
Mediobanca Securities he wrote this morning that, for banks in the Eurozone, the conditions for accessing the collection of liquidity to be used in lending are continuously improving.
Understanding + 0,93%.
The other banks are in negative territory.
Unicredit -1,12% reverses course and after an upward start it lets itself go to profit taking.
This morning Equity raises the weight of the stock in its main portfolio by 0,5%. The measure is due to the belief that there is "further restructuring potential". With the increase, Unicredit becomes the most represented bank in the broker's portfolio.
Also declining Ubi -0,65% after hitting the maximum since June 2011).
The ascent also continues Popular: Pop.Milan +0,55%, Pop. Emilia+38%, Banco Popolare+0,38%. Fondiaria Sai drops by 1,5% to 1,779 euros.
The company will waive credits of 348,5 million euros against IMCO. This is what emerges from the bankruptcy arrangement proposal presented today to the Court of Milan.
In the industrial companies segment, Finmeccanica +1,67%: Bank of America raised its recommendation to “neutral” from “underperform”.
Car stocks fell in Europe: Peugeot -1,39%, Fiat -1,35% and Renault -0,76%.
Landslide Telecom Italia -3,34%%, Standard & Poor's placed the rating on creditwatch (under observation) for a possible downgrade. For Telecom Italia bonds, it would mean losing their "investment grade" qualification and ending up at junk level.
Mediaset +1,79%.
Campari unchanged.
World Duty Free is still running, up 2,3% after yesterday's +5,7%.
Autogrills -0,66%. The market awaits news from the Investor Day that the world leader in eyewear is holding today in Cincinnati, in the USA. The event will start at 15.00 Italian time.
L'Espresso rose by 3,4% to 1,344 euros. Yesterday evening, the publishing group announced that it had signed a non-binding agreement with Telecom Italia Media +11% regarding the integration of their respective network operator activities.
Luxury stocks: Tod's unchanged, Salvatore Ferragamo +0,88%, Yoox -0,1%.
