FIAT AND MONTEPASCHI STILL ON THE SHIELD
MEDIASET AND RCS ALSO LONG THE PACE
banks, banks and more banks.
It still goes up in Milan the FtseMib index +0,57% and goes to 21.800 points (21.817) on levels not seen since May 2011.
The manufacturing activity in March it rose to 52,4 points from 52,3 the previous month, above economists' expectations of 52,1 points.
The positive trend of the market continues government bonds, which continues to shorten the delay on Germany.
Lo BTP/Bund spread is just over 170 points against 173 at yesterday's close, the ten-year yield is equal to 3,25%.
The growth is in line with that of Frankfurt +0,53% and London +0,39%. Paris performs better, gaining 0,78%. Madrid rises by 0,5% also thanks to new macro data: manufacturing activity in March grew at the fastest pace in the last four years with the index rising to 52,8 from 52,5 in February.
The Mps race continues in Piazza Affari after the rally on the eve following the sale of a further 6,5% stake. Today Rocca Salimbeni gains 4,23%, while Equita analysts do not exclude that the Foundation "later decides to buy shares on the market", even if the share "could hardly reach 10%". "The speculative appeal – they explain – remains very high", since after the increase the share of the Foundation "will drop further".
The other banks were also positive: Unicredit +1,51% to new highs since October 2011. Fineco's listing is expected by the end of the first half of 2014 (31 billion in assets under management and 19 billion in assets under management).
Sale Understanding +1,3% also promoted by HSBC to Overweight from Neutral.
Slow down after yesterday's boom (+15%) the Banco Popolare -1,9%. Kepler Cheuvreux this morning reiterated the Reduce (lighten) recommendation, cutting the target price to 9,4 euros from 11,50 euros.
Pop Etruria advances by more than 5% following the results. Icbpi notes that "the catalyst for the share's market performance remains the progress of the merger process with another bank: binding offers from Bper and Banca Popolare di Vicenza are expected shortly".
Positive Fiat +2,6% maximum since November 2007.
Brembo climbs 7,9%: Hammer Partners set an Outperform recommendation.
Among other industrialists Finmeccanica +1,905%, Pirelli +0,53%, StM -0,2%.
Weak Telecom Italy -0,2%.
Avanza Mediaset +4,83%. In the media sector, Rcs also jumped +4,8%, after John Elkann ruled out capital transactions.
Enel it falls by 0,1% and ignores the good Spanish data, where it is present with Endesa.
Eni -0,22%.
Luxury still negative: Yoox -0,36%, slips to new lows for the year, Ferragamo -0,05%, Tod's +1,49%, Moncler -0%.
Finally, a new exploit by La Doria, +3,40% to new historical highs.
