RALLY, BAGS. AND THE GREEK STOCKS GO BOOM
FINMECCANICA SALT. DISCOUNT MARCOLIN TAKEOVER OFFER: -12%
The European Stock Exchanges gain share pending the quarterly accounts of Citigroup and the data on the trend of consumption in the USA in September. Leading the race is Paris +1,33%, in front of Piazza Affari where the FtseMib index gains 1,03% AQUOTA 15.672. London advanced by 0,5%, Frankfurt +0,77%. Madrid also performed well, up 0,8%.
The leading sectors are banks (Stoxx of the sector + 1,2%) and insurance companies (+1,8%).
The day was also positive for government bonds, the 10-year BTP shows a yield of 4,93% with a spread of 346, down by 5 basis points. The calmer climate on the front of the Greek crisis is comforting.
In fact, the decline in yields on Greek bonds continues, reaching their lowest since September 2011, the ten-year Athens now yields 17,03%, down 65 basis points. The hypothesis of a buyback on Greek government bonds is strengthened by exploiting the liquidity of the ESM rescued fund.
In Milan, Unicredit rose by 1,1%, Intesa +1%, Mediobanca +1,7%, MontePaschi +1,5%.
Generali gains 1,4% supported by the promotion of the American broker Keefe, Bruyette Woods (KBW) which raised the rating to market perform from underperform.
Among the Milanese blue chips, the greatest rise is from Mediaset which rises by 3,3% on the rumors according to which Al Jazeera is interested in Mediaset Premium.
Finmeccanica rises by 2,4%: CDP has announced the birth of an Italian consortium to buy a minority stake in Ansaldo Energia, a company that Finmeccanica wants to sell and for which it has received an offer from Siemens.
Fiat turns negative and falls by 0,5% while Fiat Industrial falls by -0,8% after the independent directors of the subsidiary CNH rejected the merger proposal.
Among the utilities, Enel rose by 1,1%, A2A +1,5%, Terna +1,6%.
Green light from Hera shareholders for integration with Acegas-Aps. You voted in favor of 99,96% of the share capital present at the meeting. Virtually all of the 232 shareholders present said yes to the wedding, despite the various positions taken and rejection by some large municipalities of the resolution on the merger, as happened in Rimini, Forlì and in many municipalities in the Bologna and Modena areas. But the dissent did not emerge in the meeting.
Sharp decline of Camfin which loses 4,4%.
Marcolin -12%, the stock had been suspended all morning. The Pai fund will acquire 78,39% of the capital with a takeover bid at 4,25 euros, the price is 4,78 euros lower than Friday's closing. –
