STOCK MARKET, A2A AND BPM RUN, HEAVY TELECOM
THE EURO RISES AGAIN. HERE COMES THE RCS STANGATA
Go back up the euro against the dollar (1,342 from 1,336), the Swiss franc (1,229 from 1,2264) and even more against the pound (0,8544 from 0,8455) with a rebound of 1%. The markets are thus betting that the Eurogroup, the Council of finance ministers of the euro area convened to deal with Cyprus and Greece, will not take a position on the issue of the euro exchange, despite pressure from Paris.
Weak session for the stock markets. In Milan the FtseMib index closed down by 0,61%, London +0,21%, Paris +0,03% while Frankfurt recorded a decrease of 0,24%.
Also the US Stock Exchange moves marginally lower: Dow Jones - 0,12%, S&P 500 - 0,02% and the Nasdaq down 0,05%.
Google drops 0,9% in the wake of former CEO Eric Schmidt's plans to sell a large chunk of his stake in the internet giant.
Apple Lossless Audio CODEC (ALAC), instead it rises by almost 2% after the rumors of the New York Times according to which the iPhone manufacturer is experimenting with the design of a device similar to a wristwatch.
Among the best stocks on the Milanese list is A2A which rises by 3,49%.
Heavy Telecom Italia -3,54% which reacts badly to the halving of dividends over the next three years and the raising of fresh funds with hybrid instruments. Barclays and Cheuvreux have lowered their target prices.
Fiat -1,82% down with the entire European automotive sector (Stoxx -1,3%). Citigroup reiterated the sell recommendation and the target price of 3 euros.
Daimler loses 1,8%, BMW -1,9%.
Fiat Industrial falls by 0,31%, Pirelli +0,11%. StM-0,79% is also weak.
In banking sector Pop. Milan jumps up by 4,34% due to rumors about the plan for the transformation of the cooperative bank into a joint-stock company. Banco Popolare +0,71%, Ubi -1%, Pop.Emilia +2,49%. Down Unicredit -1,1% and Intesa -1%. Heavy MontePaschi closes at +0,58%. Mediobanca, on the other hand, earns 2,5%. Among the insurance companies, Generali lost 0,75%, Unipol -2,07%.
Saipem drops by 2%, Eni loses 0,69%. CEO Paolo Scaroni declared today that he sees no reason to resign. Down Tenaris -0,94%.
Between the mid cap Rcs drops -2,89%.
Eight hundred redundancies of which 80% in Italy (640) and 20% in Spain and the closure or sale of ten Rcs Periodici titles. These are the main data of the plan presented by the CEO. by RCS Pietro Scott Jovane at the group's European Works Council. In the plans announced by the CEO – sources close to the situation indicate – also the move of the Corriere della Sera and Gazzetta offices to via Rizzoli and a 10% cut in top management salaries. The company did not further specify the distribution of the expected cuts to journalistic and non-journal staff, nor to individual divisions. The magazines being closed or disposed of – he indicated instead – are A, Bravacasa, Yacht & Sail, Max, Europeo, Astra, Novella, Visto, Ok Salute and puzzles
“There is time, there is time”. This is how Beniamino Gavio replied regarding the decision whether to join or not to the takeover bid launched by Salini on Impregilo. Gavio, which controls 29,9% of Impregilo through Igli, was questioned when Mediobanca left and was accompanied by Igli's CEO, Bruno Binasco.
