TELECOM AND BANKS HOLDING DOWN MILAN. RCS COLLAPSES
WALL STREET PRUDENT AFTER S&P PROMOTION
The index FtseMib, after losing 1,1%, closed at -0,81% at 16556.
Less heavy variations in the rest of Europe: London -0,18%, Paris -0,21%. Frankfurt +0,64% bucked the trend, supported by the good performance of Deutsche Telekom.
Wall Street slightly up after Standard & Poor's lifts U.S. outlook from negative to stable leaving the long-term rating unchanged at AA+. The decision "reflects above all the strength of the US economy, as well as the status of the dollar as a key world reserve currency".
The index Dow Jones up 0,1%, S&P 500 +0,16% and Nasdaq +0,36%.
THEeuro it weakened against the dollar to 1,319 from 1,321 at the close.
Il Btp r4,25% (+7 basis points) and the spread with the Bond widens by 4 basis points to 268 (+4 basis points).
La Germany placed 6-month government bonds for 3,23 billion euro, recording an increase in the average yield to 0,0231% from 0,0013% at the May auction.
On the stock market, the spread between Milan and Frankfurt is linked to telecommunications titles. Against the increase of Deutsche Telekom +1,41%, linked both to Softbank's offer for the American T-mobil and to the choice of 38% of the shareholders to have the dividend paid in shares and not in cash, stands the difficult situation of Telecom Italia -4,48%, which weighs on the main basket of Piazza Affari. Operators have convinced themselves that the birth of the network company will take years, not months.
The rise in BTPs weighs on the banks: Unicredit-1,87%, Entente-2,92%. The other institutions are worse off: -4,67%, Ubi Banca -3,41%, B. Pop. Milan -4,17%.
Stay strong, Fondiaria-Sai which gains 3,24% after the rumors about Warren Buffett's interest in the subsidiary Milano Assicurazioni, in turn +3,29%. Unipol is up by 0,45%.
Generali + 0,28%.
Sharp decline for Fiat -4,64%, sensitive to any mention of a probable capital increase after the planned merger with Chrysler.
Bright Pirelli + 2,34%.
The decline of Eni which loses 0,4%: UBS lowered the target price to 20 euros from 21 euros and removed the stock from its list of favorite European shares (European Key Call), while confirming the "buy" judgment.
Saipem is up 3,02%.
In the field luxury, Yoox +4,53% rises to a new historical record.
Between the mid cap, the drop of MaireTecnimont -9,5% and Rcs -9,09% should be noted one week after the capital increase operation.
