The European stock exchanges are weak, the euro continues to fall against the dollar, while the government bond markets show little movement. The Ftse Mib index loses 0,17%. Reductions also for Paris -0,119% and Frankfurt -0,02%. London +0,03%.
The euro traded at 1,223 against the dollar from 1,224 at Friday night's close, on the lows of the last two years.
The yield of the 10-year BTP is 6,03% (+1 basis point). The Bund with the same maturity rose slightly, yielding 1,24% (-2 basis points). The attached Statistical Bulletin of the Bank of Italy shows that in May the Italian state was in debt for over 1,966 billion, an increase compared to the all-time record reached in April (1.949,242 billion). Tax revenues in the first five months of 2012 amounted to 142,101 billion euros, an increase of 1,14% compared to 140,494 in the same period last year.
Modest changes for sector indices. Stoxx of mining companies -0,8%, Stoxx of utilities -0,7%, Stoxx of automotive companies -0,7%.
There are no significant repercussions on the Milanese price list from the announcement that the State will proceed with a colossal campaign of disposals and privatizations worth 15-20 billion euros a year for the next five years. Even the rumors about the interest of the Qia, the sovereign wealth fund of Qatar for a share of Snam -0,6% do not excite the market: the news has already been known for some time.
The utilities are withdrawn: Enel -1% A2A -1%. But Enel Green Power scores +0,4%. Banks are also down: Unicredit -17% Understanding -0,7% Banco Popolare -0,5% Popular Emilia-1,7%. In an interview with the Financial Times, EBA number one, Andrea Enria, says that banks must equip themselves to make the constraint, currently only temporary, of a core Tier 1 at least equal to 9% a permanent measure. Generali salt of 0,8%.
The topic of the day remains the start of the capital increases Unipol e Fonsai. The latter has not yet managed to make a price. Unipol flies by 34,88% with fees down by 21%. Milan Insurance loses 0,1%, Premafin +1,5%%.
Worst Italian blue chip is Tod’s, with a drop of 2,7%. Salt instead Poltrona Frau +3,5%. Well too Fiat (+3,5%) in the wake of a JP Morgan report. Ansaldo Sts it is up 1,8%, the best blue chip of the morning. This morning the railway signaling company announced that it has entered into an agreement for the licensing of a technology used in urban rail transport to a consortium of Chinese companies, it is a system that eliminates the catenary, the suspended power supply line of trams.
