THE EURO RISES. DRAGONS: OMT, WE ARE READY
HIGHLIGHTS FINMECCANICA AND SAIPEM
Bags at a slow trot despite positive data from the German confidence index, theIfo: rose to 101,4 in November as economists expected seventh consecutive drop.
THE Ftse Mib index marks a drop of 0,41% at 15.489 equal to Paris -0,1%. London +0,15% and Frankfurt +0,03%.
Closing at these levels would in any case allow Milan to achieve an overall weekly gain of more than 4%.
“I can address you with a relative return of confidence in the prospects of the euro area behind me” Draghi said in a speech given at the 'European banking congress' in Frankfurt. "The return of trust is justified."
"Given that this return of confidence has been linked in part to the announcement of the WTO, I would like to assure the financial markets that we are ready to implement the program if and when it becomes necessary", he added, also inviting governments to go ahead with structural reforms.
The euro strengthened for the fifth consecutive day against the dollar to 1,290 from 1,288 yesterday, it is on the highs of the last three weeks.
The Bund-Btp spread is unchanged at 337 basis points.
The yield on Greece's ten-year bond rose by 7 basis points to 16,12% in the aftermath of the drop to its lowest since the day of the debt restructuring in March this year.
The rating agency Standard & Poor's confirmed France's long-term sovereign credit rating at AA+ with a negative outlook (A-1+ for the short term).
Wall Street will only be open for half a day today.
As for Piazza Affari credit titles are declining. Ubi-1,8% Mount Paschi -2,2%.
Intesa Sanpaolo loses 0,8%. Yesterday the bank launched a 1,25 billion euro bond. It is a 10-year fixed-rate covered bond (OBG) secured for the most part by residential and commercial mortgage loans assigned by Intesa Sanpaolo.
Banco Popolare -0,1% Société Générale cut the target price to 1,15 euro from 1,30 euro.
Generali -0,5% . The company is ready to start the auction for the sale of the Swiss subsidiary BSI, there would be many international names interested.
Telecom Italy loses 0,5%. On December 4, Tim Partecipacoes' board of directors should discuss the new industrial plan relating to the Brazilian activities. The document will be presented by the CEO Andrea Mangoni. The title was promoted by HSBC to neutral da underweight.
Finmeccanica +1,5%. According to rumors, Agusta Westland will participate in the 5 billion dollar tender for the supply of rescue helicopters to the US Air Force.
Saipem earn 1%. The stock accelerated after the company announced it had won new onshore drilling contracts worth a combined approximately $500 million in Saudi Arabia, South America and Kazakhstan, for the utilization of 13 rigs, three of which will be specially built.
Mediaset -2% scales last days rebound.
Meanwhile Atlantia earn 0,5%. The group of motorway concessionaires raised the amount of its retail bond to 1 billion from the initial offer of 750 million and brought the closing of the offer forward to today, having placed the issue entirely.
The Bundesrat, the German Chamber of Laender, has rejected the tax agreement concluded by the Government with the Swiss authorities which was to come into force on 2013 January XNUMX.
