AT PIAZZA AFFARI ON POPOLARI AND FINMECCANICA
BOT, YIELD AT HISTORIC LOW. SPREAD AT 198
Il return on twelve-month Bots slips to all-time low thanks to very strong demand at the mid-month auction. The BoT expiring on 13/2/2015 was placed with a weighted average rate of 0,676% from 0,735% in the previous auction. Demand slightly exceeded 13 billion euro, for a coverage ratio of 1,63.
On the government bond market ithe 10-year BTP rises with the yield decreasing to 3,68%. The spread with the Bund returns below 200 points to 198.
Accelerates, after a cautious start, the Milan Stock Exchange: the FtseMib index rises by 0,51% to 19888.
The other price lists also advanced: Frankfurt +0,92%, Paris +0,55%, Madrid and London +0,31%.
Finmeccanica +1,55% thanks to new orders. The supply contract for the fuselage components of the Boeing 787 Aircraft (ten-year term) was redefined. At the Singapore air show, the ATR, joint venture between Alenia Aermacchi and the Airbus Group, received two different orders: the first from Dubai Aerospace ordered 20 ATR 72-600s with an option for another 20; the second from the Thai company Bangkok Airways (6 Atr 72-600 plus another 2).
Le banks consolidate the strong increases achieved on the eve. Unicredit rises by 1,21%, Intesa +0,56%, MontePaschi -0,29%.
They fly Popular, Pop.Emilia +3,69%, Bpm +1,96%.
The relegation by dthe Moody's it does not weigh much on Fiat-0,14%.
Pirelli +1,83% in the aftermath of the Michelin accounts.
Brembo it is up by 2,3% to 20,45 euros. This morning Mediobanca decided to raise the recommendation to Outperform from the previous Neutral, adjusting the target price to 24 euros from 21 euros.
StM -0,24% Tenaris + 0,9%.
Tod’s, at the center of a rough controversy between the main shareholder Diego Della Valle and the president of Fiat, John Elkann, rises by 1,24%.
The duel is good for the title Rcs + 5.76%.
Mondadori +0.7% the managing director Ernesto Mauri anticipated that 2013 will be at a loss also due to restructuring charges, while from 2014 there will be "a clear improvement": the goal of the publishing company is to reach 2016 with all the profit divisions.
Still on the rise Mediaset + 0,15%.
In fashion it starts again Moncler +4%. Equita has started coverage of the jacket stock with a Buy recommendation and a target price of 16 euros. The stock was also included in the recommended portfolio with a weighting of 200 basis points.
Telecom Italy advances by 0,24%.
Eni salt of 0,48%.
Saipem it rebounded 1,94% after losing 3,4% yesterday following disappointing fourth quarter 2013 results.
This morning many brokers, including Goldman Sachs, announced a downward revision of the target prices.
