The hour of redemption has struck: Business Square stretch. The Ftse Eb rises to +3,09% to 14.846 points and the Ftse All Share to +2,77% to 15.658 points. Leading the charge are rights Unicredit (+66,17%) followed by the shares (+4,81%) of Piazza Cordusio. Among the growing banks also bpm (+ 7,19%), Intesa Sanpaolo (+6,36%). Marginal gain for Ps (+ 0,56%).
“The good news is that Ghizzoni it has entered into an iron pact with the investment banks from which it will have the necessary capital even if – never be – the price should fall below the discounted price of the shares issued”. But that may not be enough for long-term shareholders, "particularly foundations." This too can be read in a critical article by Financial Times who blames the "disaster" on CEO Umberto Ghizzoni, who "knows all too well that he made a big mistake when he resisted the request to increase the capital at the beginning of 2011" then made by Bank of Italy and the Ministry of Economy . In the meantime there was the bank's strategic plan, but "it took a year - writes the editorialist Patrick Jenkins - a dangerously long period in normal times, and in the midst of a crisis like the current one the punishment was brutal" .
At the end of the morning the European stock exchanges are all on the rise and the Milan Stock Exchange +3,09% is the best, thanks to the strong rebound of the banks. London earn 1,12%, Paris + 2,39% Frankfurt + 2,47%.
The declarations of theFitch rating agency who announced that, as far as she is concerned, in 2012 there will be no downgrading of Germany, France or Austria, countries that can continue to count on their triple A. The situation is different for Italy and Spain: the downgrade, in these cases, is more than possible.
THEeuro it strengthened to 1,28 against the dollar, from 1,276. Also for this reason, no improvement has been recorded on the front of the Italian government bonds: the yield of the ten-year BTP remains close to the maximum, at 7,10%, with the spread with the Bund at 522 points.
The pressure on sales today has shifted to the "spoiled bride" front FonSai (-4,6%) and, above all, of the "hunter husband" Unipol . The shares of the Bologna-based company plunged by 14% before recovering to a less dramatic -6%. Almost stopped Milan Insurance -0,6%; the only real benefit from the restructuring plan of the companies is Premafin, the holding company that controls Fondiaria where they should come from the Ligresti. Otherwise, positive assurances in Europe with Allianz and Axa earning 4,5% and 5,2% respectively. Generali salt by 3,4%.
The best sector in Europe is that ofauto (+3,7%) where the rises of the German women stand out Volkswagen +4,2%, world queen for sales in 2011, e bmw +3,8%, after forecasts of further strong growth for these manufacturers in 2012, released yesterday by Detroit Auto Show.
Fiat, on the wave of rumors about new mergers (not excluding PSA) recovers and rises by 4,8% after yesterday's heavy slide. Pirelli advances by 3,5%, Fiat Industrial rises by 3,3%. Among the industrialists they advance Prysmian +4,9% and StM +2,5%. Negative instead Finmeccanica -0,7%.
