ALL CRAZY ABOUT THE BTP 15. THE SNAM BOND IS LIKED
STOCK MARKET RECOVERY, THE BIG BANKS START AGAIN
Piazza Affari absorbs without trauma both Obama's ultimatum on the debt ceiling and the slowdown in German GDP (-0,7%) in the last quarter of 2012. The data on inflation is also not worrying, slowing down (0,2% against the 0,3% expected) along with industrial production. And so, at the end of the morning the Ftse/Mib index marks an increase of 0,32% to 17.446 ahead of Paris unchanged, London + 0,07 and Frankfurt -0,21%.
Lo spread between Btp and bund is down to 261 points.
In a few hours it was achieved sold out for the 15-year BTP announced yesterday: 6 billion reserved which will allow the Treasury to close the operation as early as the day. The new 15-year BTP is offered with a yield of just over 30 basis points over the yield of the BTP maturing in March 2026, which today fluctuates around 4,50%.
Il debt market it was also favored by the excellent outcome of the Spanish auction: Madrid placed 5,75 billion in 12 and 18-month bonds, with falling rates and good demand. Greece also moved on the primary market, placing 1,625 billion of 3-month bonds with slightly decreasing rates.
In the business square strong recovery of the banks: MontePaschi gains 1,33%. Ubi +0,63% and Bper +0,67%.
More effervescent i big: Unicredit +1,12%, Intesa gains 1,7%.
Corre Ferragamo +2,1% after the interview with the CEO Michele Norsa at the Financial Times.
The descent continues Generali, down 1,06%. Among the most consistent declines is Tenaris which lost 1,36% also following Mediobanca's decision to lower its recommendation to underperform from neutral. Fiat reverses course - 1,36% after yesterday's leap (+6%).
They also recover Finmeccanica +1,74% and StM+0,0,67%.
They recover Enel +0,37% ed Eni +00,9%. The six-legged dog will launch an offer of bonds convertible into Snam shares +2,66% for a total amount of approximately 1.250 million euro.
Telecom Italyfinally, it recorded a drop of 0,1% on the indiscretions of the opposition of France and Germany to a single telecommunications network.
