CANNITA: THE MARKETS NOW LIKE THE LONG BTP
MILAN IN BALANCE, FINMECCANICA IN RECOVERY
La Italian finance, at least for now, seems crisis-proof. After the reassurances of S&P comes the judgment of Maria Cannata, Head of the Treasury Debt Department: the market, he said in London, is showing great interest in long-term Italian government bonds. “After two years in which the market has remained frozen – are his words – there is a great appetite for longer maturities. Italy offers the ideal combination of low risk and high return,” she says.
The confirmation comes from the sovereign bond market: the BTP recovers and the 10-year yield falls by 4,63 basis points to XNUMX%. The Waist yields 1,46% (+1) and the Bond 4,97% (- basis points).
Lo spread against Germany it narrows to 317 basis points and that with Spain widens to 33 basis points from 20 yesterday morning. It's less good at Business Square, which folds back after a successful start. The FtseMib index falls by 0,26% to 15932. The other European stock exchanges are up: London and Paris they earn 0,17%. Frankfurt 0,86%, unchanged Madrid.
Finmeccanica +1,97% is the best blue chip. Among the banks, they are positive Unicredit + 0,57% Understanding +0,32%. They go down Banco Popolare -0,08% and MontePaschi -1,08%.
Mediobanca -0,18%. This morning the institute launched two buyback offers on its own bonds maturing in 2014 for a total of two billion euros. "The voluntary repurchase offers, even partial, will allow Mediobanca - reads a note - to change the time distribution of its liabilities in order to reduce the relative weight and the time concentration of those maturing in the 2014 calendar year as well as to invest efficiently the significant liquidity. Mediaset earn 0,6%.
Tonic in the luxury sector cucinelli + 3% Ferragamo -0,68% Luxottica -0,88% Yoox +1,4% following the 2012 data and the positive forecasts for 2013 which led Deutsche Bank to raise the target price.
Among the industrialists Fiat loses 0,07%, StM -0,4%. Tenaris -1%. Enel down 1,14%, Eni up 0,39%.
Enel Green Power + 1%.
