A troubled week on the financial markets closes in style. Business Square leads the recovery of price lists thanks to the "resurrection" of the banks. The Ftse Mib index recorded a rise of 3,94% at 17.481 points, more than offsetting the losses on Black Thursday (-2,4%). Shortly after the close of the price list, the green light from Mediaset to the agreement with Vivendi and the sale of Premium.
The two groups set up an industrial partnership: according to the agreements, according to a note from the French group, 3,5% of the capital of Vivendi will be exchanged with 3,5% of the capital of Mediaset and 100% of the capital of Mediaset Premium, the pay TV of the Biscione which thus changes hands. With the agreement, Vivendi strengthens its grip on pay TV by creating a European entity with "more than 13 million" total subscribers. The agreement also includes "initiatives for the joint production and distribution of audiovisual content and the creation of a global over-the-top TV platform" The finalization of the agreement, which is expected to be completed in the coming months, is subject to approval of the competent authorities, conclude the official press releases.
The day in Piazza Affari was not only marked by the wait for the Vivendi-Mediaset announcement, but also by the comeback of the banks. The movement, however, is insufficient to bring the weekly budget positive. The performance from Monday to Friday is down by 1,6%, the fourth consecutive week of decline for Piazza Affari. Since the beginning of the year, the index has lost 18%, a negative record among the main world stock exchanges.
The rebound favored the recovery of the other European lists, also supported by the recovery of raw materials: Paris +1,2%, increases of around one percentage point for Frankfurt and London.
Fixed income fever also subsides. The spread between Btp and Bund it drops to 122 points, the 1,320-year yield at XNUMX%.
In the meantime, go back up the Petroleum: Brent up 5% to 41,4 dollars a barrel (7% on the week). Thus, the raw material oil companies are pulling the sprint from Wall Street: Chevron +2%, Exxon Mobil +1,5%, ConocoPhillips +3,5%. Among the companies that service the oil industry, Halliburton is up 3,3%.
In Piazza Affari, the recovery of the barrel allows Saipem to leap by 7,7%, Tenaris +5,7%, Eni +4,3%.
Thanks to the commodity rally, Wall Street limits the week's losses below one percentage point. The Dow Jones and Nasdaq are up 0,8% today. The S&P500 index gains 0,8%.
Absolute protagonists of the scene le banks Italian: the sector index records a leap of 7,7% on the wave of expectations for the forthcoming launch of the Fund for the recapitalization of banks, expected by Monday morning. In this regard, some Foundations have confirmed that they have received a letter from the president of ACRI Giuseppe Guzzetti in which he is asked to evaluate membership of the fund quickly.
Fly on the Bper price list +14,3% followed by Bpm +11%. Banco Popolare +10,9%, boom also for Unicredit +9,7% guaranteeing the increase of Popolare Vicenza for 1,75 billion. According to CEO Federico Ghizzoni, the US private equity fund Fortress is interested in subscribing a part of the operation while at the same time purchasing the non-performing loans of the Veneto bank.
The recovery of the banks dragged down insurance companies and managed savings: Generali +2,9%, UnipolSai +2,3%, Banca Mediolanum +5,7%, Anima +4,7%.
Beyond the banks to report the wait for the agreement between Mediaset +5,36% and Vivendi, being examined by the board of directors of the subsidiary Fininvest. Mediaset closed up 5,36%, more calm Vivendi (+0,85%). The sale of Premium, reports a note from ICBPPI, "will bring out the profitability and cash generation of the free-to-air television activities", hitherto held back by pay-TV costs. The entire Premium, of which Mediaset itself owns 89%, has been attributed a value of approximately 800 million. The contribution is part of the share swap plan through the use of treasury shares: 3,5% of Vivendi is worth around 875 million, that of the subsidiary of the Berlusconi group around 140 million.
Even more effervescent Telecom Italy up by 6,3% to 0,8885 euro, thus reducing the loss since the beginning of the year which has reached almost 30%. The shareholder Vivendi declared that he did not rule out participation in Enel's initiative on the ultra-broadband project which should cable the whole country also thanks to the State contribution for areas that would not be economically profitable.
Roaring closure also for Enel +2,8 which started the corruption in the USA of the largest wind farm in the world. A2A still positive +0,5%.
Throughout Europe, the Automotive companies are gaining (Stoxx +1,5%). Fiat Chrysler leads the move with a 4,1% gain. Ferrari's cue +2,4% despite Kepler Chevreux having reduced the target price to 30 euros.
