MARCHIONNE RAISES THE PRICE OF FERRARI. AZIMUT MAKES A GIFT TO MEMBERS. BTP SUPERSTAR
Few emotions for Piazza Affari at the end of a financial day dominated by quarterly reports and the new exploit of government bonds. The Ftse Mib index closed at -0,11%. Paris lost 0,1% as did Frankfurt, while London advanced by 0,7%. Wall Street recovers: the Dow Jones index is up 1,1%, the S&P 500 up 0,92%, Nasdaq +0,50%. Highlight the banks. Goldman Sachs, Morgan Stanley and JPMorgan Chase post gains of between 1 and 4%.
The yield of the BTP fell to new historic lows of 1,05%. The spread vis-à-vis the Bund fell below 90. The auction of three-year, seven-year and thirty-year bonds was very successful, for a total amount of 7,5 billion euro. Demand was very strong, especially for the three-year bond, assigned a record yield of 0,15%, 30 basis points less than the last issue of this maturity which took place in February. The 30-year bond was placed at 1,86%, from 3,29%.
The Treasury is evaluating the launch, through a syndicate, of a new 15-year BTP next week. The euro rebounded against the dollar to 1,061 from 1,054 at last night's close. In Milan Generali loses 4,6% after having released the 2014 results this morning: against a profit in line with expectations and a dividend that has risen by 33% to 0,60 euro, a disappointing figure weighs on the Solvency capital solidity index II. Among the banks, the purchases of the popular ones continue. This morning the Chamber approved by a large majority (290 against 149) the conversion into law of the decree reforming cooperative banks, the ball passes to the Senate.
Avanza Pop.Milan +4% ahead of Pop.Emilia + 1,8%. Unicredit, pending the council on the appointment of top management, rises by 1,3%, Understanding + 0,8%. Mount Paschi +0,4%. The pink jersey of the day belongs to Azimuth +5%. Despite the 41% drop in profit to 92 million euros due to extraordinary tax charges of 105 million related to the dispute with the Revenue Agency, the group will distribute a dividend of 0,78 euros, beating consensus estimates analysts (€0,59).
Among the utilities, Snam, after an upward start, closes at parity on the day of the 2014 data release. Enel it is down by 0,9%. Brake Telecom Italy -0,4%: yesterday it gained more than 7%. Among the oil companies, they go up Saipem +0,5% and Tenaris +1%. Back off Eni -0,4%. The rise of Fiat Chrysler +1,6%. “Ferrari is worth more than 7 billion, I don't care about 7 billion”. Thus Sergio Marchionne yesterday in Geneva, on the sidelines of the assembly of Sgs.
Pirelli, after Wednesday's leap, it is down 0,2%. It also moves back Finmeccanica -0,8%, after Wednesday's jump of over 5%. stm loses 3,3%, following Intel's revenue alarm: the world's leading computer chipmaker said sales for the current quarter will reach $12,8 billion, up from $13,7 billion expected.
