The depressive effect of S&P was short-lived: as early as 10 a.m Milan Stock Exchange started recovery after initial losses. The Ftse Mib index fell by 12% at 30, in any case above the psychological threshold of 0,24 points (20.000). Frankfurt - 20.040% and Paris - 0,42% are doing worse. Madrid -0,59%. Outside the eurozone London loses 0,17%. There German industrial production is in retreat: +0,8% in October against +1,1% in September. Even more modest the impact on BTP: after a flare up to 2,04%, the yield returns to its historic lows of 1,97%. The spread is little moved at 126.
The euro traded to 1,225 against the dollar from 1,228 at Friday's close.Oil Brent is low the last 5 years at 67,1 dollars a barrel, down 2%. Eni -2,2% slides to new lows for the year. Saipem rebounds +0,4%. Tuesday's board will discuss 2015 targets, which are at risk after Russia's decision to cancel the South Stream. Tenaris is firm on parity.
The thud of weighs on luxury Prada -8% in Hing Kong after the disappointing data of the third quarter: Tod's -2,2% pays the price for Prada's bad data. Between banks Intesa restarts +0,5%: Keefe Bruyette has raised the rating to Outperform from hold. Unicredit unchanged, Montepaschi loses 0,9%.
In the banking segment Popular. Banco Popolare +0,2%, Keefe Bruyette cut Market Perform rating from Outperform. The target price was reduced to 10,30 euros from 16 euros. Banca Popolare di Milano -1% (target from 0,70 to 63 euro). Ubi Banca +0,8%: kbw cut the target from 6,7 to 5,3 euro.
The rise of General Bank +2,2% thanks to the excellent collection data for November. Among industrial companies, Finmeccanica remains at the highs for the period with a gain of 0,7%: the market is betting on developments in the sale of the railway division.
FCA -0,2%, at the start it touched the highs of the last 14 years.
Prysmian is up by 0,9%, this morning Barclays analysts raised the target price on the stock to 18 euros from 17 euros. salt Mediaset on the wave of hypotheses on the M&A front. Bernstein relaunches the possible marriage with Sky Italia.
