BUSINESS PLACE -3,41%, SPREAD – 353 BP
ITALY PAYS DEARLY “FAREWELL TO MONTI”
"Berlusconi is taking his revenge: the Italian market is on the verge of destruction". So Business Insider headlines, for many brokers Use the first online reading of the morning. Meanwhile, Piazza Affari, even before the operations rooms across the Atlantic Ocean, accelerates its descent. Not unexpected after all.
The Caporetto announced, after the resignation of Mario Monti (today in Oslo for the award ceremony of the Nobel Peace Prize to the EU), can be summarized as follows: at 12, the Ftse/Mib index marks a drop of 3,41% to share 15.163, without infecting the other lists too much: London -0,29%, Paris -0,65%, Frankfurt -0,6%. Only Madrid -1,9% suffers a significant loss.
The BTP fell on the government bond market, with the 10-year yield rising to 4,79%, from 4,50% on Friday. The spread shot up to 353, widening by 31 basis points. The euro slipped to 1,290 against the dollar, from 1,292.
The banks are sinking, among not a few downward suspensions: Unicredit -5,92%, Intesa -6,47%, Monte Paschi -6,87%, Ubi -5,55%, Banco Popolare -6,65%.
Insurance companies are not doing much better: Generali -4,06%, Fondiaria-Sai -5,5%, Unipol -4,1%.
The stable of the premier's investments is under fire: Mediolanum -6,63%. Mediaset -1,54% exhausted the effect of the buy promotion by Deutsche Bank in a few minutes.
Fiat drops by 5,59%, Finmeccanica -4,3%, Prysmian -4,09%.
On the darkest day there is an exception. After months of confirmations and denials, Stm +2,3% chose the occasion of the new industrial plan to make the most awaited announcement by analysts: the exit, by 2013, from the St/Ericsson joint venture which produces chip for mobile telephony, scuttled by the crisis of Nokia . After five quarters in the red and several attempts to relaunch, Carlo Bozotti's company is convinced that the recovery threatens to have excessive times and costs for Stm which will now concentrate on the business lines in which it is a leader, from mems to automotive and all 'power.
