MILAN RISES WAITING FOR BERNANKE. ON THE BANKS
HIGHLIGHTS PRYSMIAN AND STM. RCS MEDIAGROUP LANDSLIDE
After yesterday's crash, the Milan Stock Exchange goes back. The FtseMib index gains 0,91% to 18.088.
Le European stock exchanges opened higher and extended gains, recovering yesterday's losses, after the release of the German data on business confidence (Ifo), the highest since April 2012. London gains 0,33%, Frankfurt +0,93%, Paris +0,61%. Madrid +0,87%.
Banks improve (Stoxx index +0,8%).
News arrives from Brussels that a preliminary agreement would have been reached during the night on the issue ofbanking union. But the ECB is not satisfied and asks for: a clear distinction between supervision and resolution, a faster decision-making process with an emergency procedure for systemic cases, and a backstop (financial parachute) formed by a credit line that can be accessed by the common fund of resolution.
On the rise it is Understanding +1,19% that Unicredit +0,97%. The best is Mediobanca +2,51%. Banca Popolare di Milano warms up +1,64% ahead of Saturday's shareholders' meeting. Banco Popolare +1,19%.
Mount Paschi is down 1,02%.
On the rise the insurance. Generali +0,61% and Fondiaria Sai +0,75%.
Telecom Italy falls by 0,87%.
In great evidence Prysmian +4,15% and stm + 2,08%.
Enel +1,79%: surprisingly, the Spanish subsidiary Endesa has decided to distribute an advance dividend of 1,5 euro per share. Enel Green Power unchanged, Snam +1,14%. Eni advances by 0,49%.
Saipem -0,4% after the alarm raised by the French Saipem Technip on the margins of the Subsea subsea infrastructure division. Analysts divided on Saipem, for Mediobanca it is outperform, while Equita is cautious.
Highlights of the luxury titles: Luxottica +2,04%, HSBC raised its recommendation to Outperform from Neutral, a high target price to 46 euros from 42 euros. Ferragamo +2,75%, Tod's +1,03%, Yoox +2,91%.
It starts again Moncler +1,2%. On Aim, freshman Leone Film gains 2,92%.
In sharp decline Rcs -3,54% on the eve of a Board meeting to verify the sustainability of the profitability objectives of the business plan. Mediaset -1,23%.
Among the industrialists it stands out Finmeccanica +1,57%, Norway has confirmed that it will sign a contract with AgustaWestland, a company of the Finmeccanica group, for the purchase of 16 helicopters).
Fiat -0,55%, Pirelli +1,86%.
