THE MARKET REWARDS TELECOM (WITHOUT DIVIDEND). EU EXCHANGES DOWN. RCS HALLS IN VIEW OF THE BOD
In Piazza Affari, roller coasters are all the rage these days. After the emotions on Banca Monte Paschi today marginally up. Also Telecom Italy it experienced the thrill of the sudden change of direction: it started off sharply down -2,9% after the announcement that this year it will not pay dividends to ordinary shares, it has wiped out the losses and recorded an increase of 2,9%.
The data for the fourth quarter of 2013 highlight a drop in debt higher than expected (below 27 billion) and some positive signals from the Italian market: the drop in revenues was less severe than in the first part of 2013. All Stock Exchanges European countries are however weak in a morning in which prudence prevails in anticipation of the data on employment in the USA this afternoon.
In red the price lists of the Old Continent. In Milan, the FtseMib index fell by 0,29% to 20.776. London and Paris fell by 0,28%, Frankfurt -0,73%, Madrid -0,3%. After yesterday's rise, the euro consolidates its positions against the dollar at 1,387, the highs of 2014. On the government bond market, the 10-year BTP is traded at a stable yield of 3,41%, spread unchanged at 177.
The drop in utilities and banks weighs on the Milanese stock market. Enel retreats 1,14%, Atlantia -1,28%. Snam +0,4%. Between banks Understanding drops by 0,43%, Unicredit -0,17% Mediobanca -0,19%. Consistent losses among cooperative banks: Banco Popular -2,27% Pop.Emilia -3,67% Pop.Milano -1,23%. Still shopping on Mount Paschi, up 0,42%.
Rcs +2,79%. An indiscretion from Il Fatto anticipates that the board of directors convened for Monday could resign the director of Corriere della Sera Ferruccio De Bortoli. Mediobanca fell to 9,93% from the 14,997% it held in the publishing group, according to what emerges from Consob communications on significant equity investments. The operation is dated February 28.
Among the industrialists they rise Finmeccanica +1,44% and StM +0,83%. positive Pirelli +0,72% after the classification of the Banca Intesa package. Brembo +3,96%. Mediobanca analysts raised the target price to 27 euros from 24 and confirmed the Outperform rating thanks to growth prospects in the USA and a 25% increase in the dividend.
Benefits taken up Fiat -0,92%. Italcementi rises by 1,7%. The action explodes saving +14% after the announcement of the mandatory conversion in view of the takeover bid on Ciment Français. On the rise, out of sympathy, also the Buzzi savings +4,1%, ordinary shares lose 1,6%.
Among the mid caps it shines Geox +3,6%, judged Buy by Kepler Cheuvreux. The company closed 2013 with a net loss of 29,7 million euros from a 2012 profit of 10 million, on revenues down 6,6% to 754,2 million. Ebitda stood at 10,7 million from 61,6 million.
