6 MONTH BOTS RETURN ONLY 0,53%. FIAT MISSES, BANCO POPULAR UNDER FIRE
The Treasury has sold all eight billion euros of semi-annual Treasuries auctioned today against a demand for more than 11 billion. The rate fell sharply to 0,503%, an all-time low, from 0,831% a month ago.
The spread between Btp and Bund, near the auction, fluctuated around 288 bp (+7) for a yield of 4,11%. Weak Piazza Affari -0,84%, Ftse/Mib index at 16.504. The other markets also fell: London -0,64%, Paris -1,31%, Frankfurt -0,66%. Madrid down 1,11%. Euro unchanged against the dollar (at 1,301) and against the Swiss franc at 1,229.
WTI-type oil at $93,1, down 0,5%. Gold at 1.462 dollars an ounce (-0,4%). In the business square Fiat it lost 2,67% after a Delaware court judge yesterday ruled informally in favor of Veba's stance on the value of Chrysler stock. Fiat Industrial -1,12%. Finmeccanica + 0,26%.
StM -0,85%, after a string of five consecutive hikes yielding a 16% gain. This morning Jefferies analysts raised their recommendation to "buy" from "neutral" by setting a target price of 6,45 euros. Since the beginning of 2013, the stock has gained 20%.
Among the Milanese blue chips, the strongest decline is Banco Popolare -3,66%. Banca Popolare dell'Emilia -2,3% and Ubi Banca loses 2,48%. The other banks are dreaming of contained declines: Unicredit -0,26% Understanding -1,03% MontePaschi instead he earns 0,05%.
There is a 'low possibility for our lawyers' that Nomura's 1,8 billion will be subject to seizure on the basis of the request of the Sienese prosecutor. This was stated by the financial director, Shigesuke Kashiwagi, explaining that the amount is deposited in a German bank.
Among the insurance Generali down 1,24%, Fondiaria-Leaves -1,9%. Enel retreats 1,77%, Eni -1,3% Telecom Italy +1,29%. Good upside of Saipem +2,02%. This morning Morgan Stanley upgraded the judgment to "overweight" from "equalweight" and raised the target price from 25 euros to 30 euros. The new target promises an increase of 43%. The "overweight" judgment also confirmed by HSBC with a target lowered to 25 euros from 26 euros.
