SPREAD AT 515 BASIS POINTS
BAGS CLOSE IN POSITIVE
Operators are also preparing to get ready for Christmas lunch. Today's session confirms the reduced trading in a day with few ideas. The price lists, refreshed already yesterday by the auction ECB, closed the last session before the holidays in positive territory: il Ftse Eb rose by 0,31%, the Dax by 0,46%, the Cac by 0,99%, the Ftse 100 by 1,02%. The Dow Jones rose 0,6% and the Nasdaq 0,48%. The price lists were also supported by some macroeconomic data arriving from the USA which beat expectations (sales of new homes and orders for durable goods). The need for companies to complete the last operations before the closing of the financial statements also affects purchases. The euro-dollar exchange trades at 1,3040 while WTI oil trades at around 100 dollars a barrel.
The banks are back in the red. During the week, the first maxi 36-month auction of the ECB was held, which filled up with requests. European banks (which have borrowed 489 billion). Now the attention of the operators is turned to see how they will be used. The hope is that the liquidity will be poured into the real economy, households and businesses, or that it can help the sovereign debt. For now, the BTPs are not drawing any benefit from the injection of liquidity into the banks, indeed the spread between the ten-year BTP and the Bund has flown again to 515 basis points with the rate hovering at 7,09%, with the ECB having has practically eliminated the purchases of Italian government bonds.
ECB ONVERNIGHT DEPOSITS AT HIGHEST SINCE 2010
S&P: DOWNGRADE THREAT REMAINS FOR BANKS
For now, the ECB's overnight deposits are benefiting from the liquidity, which reached their highest level since June 2010: Eurozone institutions parked 347 billion euros in Frankfurt against 265 billion the day before. Institutions remain in the crosshairs of rating agencies. For S&P "the flow of liquidity poured into the banks of the Eurozone by the ECB provides them with a breath of fresh air but will not be sufficient to protect them from the threat of a downgrade".
At Piazza Affari Unicredit it dropped 3,43%, pending the capital increase starting in mid-January and for which the underwriting syndicate was extended to 26 banks. Understanding loses 2,17%. Ubi loses 2,67%. bpm closed in positive territory at +0,06%.
FONSAI TODAY THE BOD ON CAPITAL STRENGTHENING
EXOR SELLS ALPITOUR
After a 7% jump, Fondiaria Sai closed up 0,79% on the day of the board meeting on the capital strengthening of the insurance group. The solution could lead to a capital increase and a gradual disengagement of the Ligresti family. Also scheduled for today is the board of directors of Milano Asssicurazioni which meets to evaluate Gavio's offer on 33% of Igli parent company of Impregilo (-3,46%) which expires today. Generali rises by 2,14%.
Exor rises by 1,60% after reaching an agreement with the Wise Sgr and J.Hirsch&Co funds. to sell Alpitour for 225 million with a capital gain of 140 million. Edison leaps by 4,20% on the openness of the French to the proposal of the Italian shareholders of Delmi, which finds strength in the support of the minister Corrado Passera. The largest shareholder of Delmi A2A +2,36% is also doing well, best stock of the Ftse Mib.
