US DATA GIVES WALL STREET CHARGED
EUROPE FORGOTTEN THE EURO AND BTP CRISIS
I US data they launch the sprint of the Stock Exchanges. Europe, including Milan, forgets the pains of the euro and the still uncertain outcome of the Btp auction and closes on the rise.
In Milan the FtseMib index rises by 0,76% to 14, Frankfurt advances 1,34%%, Paris jumps 1,8%.
THEeuro it weakens further, but recovers positions in the final and settles at 1,29 against the dollar, from 1,294 at yesterday evening's close, in any case one step away from the lows of the year. The dollar index trades at 80,5 (+0,3%), on the highs since mid-January.
To charge the US price lists (Dow Jones + 0,82% Nasdaq +0,53%) were above all the data on the real estate market. Pending home sales rose 7,3% in November from a month earlier, when they rose 10,4%, economists were expecting a more modest 1,5% increase.
Furthermore, the data on new requests for unemployment benefit, 381 against the 375 expected, for the fourth consecutive week remains below the psychological threshold of 400 units, the likes of which has not happened since July 2008.
The Chicago area manufacturing purchasing managers index finally rose to 62,5 in December, economists had expected 61. Returning to our home markets, the ten-year BTP it is trading at a yield of 7,04%, up 13 basis points from last night. The spread with the Bund widened to 516 points.
"There is nothing in the fundamentals of our economy that justifies such a high spread", remarked Monti to those who asked him what he thought was the spread "Right". With regard to the difference between the Italian and Spanish spreads, the premier remarked that “the Spain has a decidedly smaller stock of debt than ours and a different financial system with two large banks very active in ensuring coverage of the auctions of passes.
THEgovernment bond auction it closed with a marked improvement in yields, but the Treasury placed only 6,9 billion of bonds, less than the maximum amount envisaged of 8,5 billion euros. As for i BTP2,5 billion euro of 6,98-year bonds were placed at 7,56%, up from 2,5% in the previous auction at the end of November, and 5,62 billion of three-year bonds at 7,89%, up from XNUMX, XNUMX% of the end of November.
For both categories of securities, demand exceeded supply by 1,3 times. Yesterday the bid-to-cover of the Bots had been better, equal to 1,7. A "very good" result for Monti, a "disappointing" result for the Financial Times website, which underlines how Italy hasn't managed to sell the entire offer. A judgment destined to circulate and make opinion in the City.
A Milano the banks move in random order. Unicredit -1,5% Intesa Sanpaolo + 1,49% Where's Banca + 0,71% Banca Popolare di Milano -0,3%. The worst is Pop Bank. Emilia -2,62%. On the contrary, the shares of the subsidiary are flying Banco di Sardegna resp. +15%: delisting rumors are back. Generali salt of 0,68%, while Fondiaria Sai loses 1,8% and reaches new all-time lows: this morning the company that is preparing to face a dramatic recapitalization was downgraded by Standard & Poor's. It also falls Milan Insurance -4%.
Azimuth stands out together with Mediolanum +1,2% and General Bank +0,5%. The rise comes in the aftermath of the release of November data on the asset management industry released by Assogestioni: last month net outflows amounted to 8,5 billion euros and the mutual funds segment was particularly negative. In this gloomy picture, which sees, for example, Intesa Sanpaolo accusing an outflow of 2,2 billion euro, Azimut shines with positive inflows of 122 million euro.
Eni e Saipem are little moves while the Petroleum type Wti trades at 99,7 dollars a barrel (+0,3%).
The Supervisory Board and the Management Board of A2A, -0,13% approved the terms and conditions of the restructuring of the stake held in Edison -0,24% through Delmi. The chairman of the Board of Directors, Giuliano Zuccoli, and the general manager, Renato Ravanelli, were also given a mandate to negotiate and enter into a renewal of the shareholders' agreements with EdF until February 15, 2012, an agreement which expires tomorrow, December 30, 2011 Automotive stocks are down. Fiat -1,3%, Fiat Industrial -0,15% Pirelli -0,08%. Goes down Prysmian -1,31%. Outside the main basket, Rdb +4% and Servizi Italia +4% stand out.
