USA, CONFIDENCE NEVER SO HIGH. WALL STREET STARTS AGAIN
FINMECCANICA AND TELECOM “SAVE” THE BUSINESS PLACE
Other than a fiscal cliff. An injection of confidence arrives from the USA, through Wall Street, it overturns the European session, up to that moment heading towards the weekend in full depression.
In fact, the consumer confidence index calculated by the University of Michigan gave the signal of the turning point, rising to 84,9 from 82,6 in the previous month of October. This is the highest level in the last five years, reached only before the great subprime crisis. The average forecast by economists was 82,9.
Piazza Affari has practically eliminated the substantial decreases of the day: the Ftse Mib index falls by 0,09% to 15.181. The decline in Frankfurt was more marked – 0,58%, shocked by the increasingly less brilliant data from industry. Sale Paris +0,47%, London – 0,33%.
The reaction of the US Stock Exchange was more energetic: the Dow Jones gained 0,36%, S&P500 +0,44%, Nasdaq +0,78%.
To note the collapse of Groupon-25% on the new all-time lows at $2,90. The online discount site closed the third quarter with a loss of $2,98 million and sales up 32% to $568,6 million, below analysts' expectations of $591 million. A year ago Groupon was worth $31…
The Btp/Bund spread rises by 4 basis points to 368, while the German Bund future reaches 143,3 points on the new highs since the beginning of September.
The euro lost all of this morning's gains and slid to 1,271 against the dollar, a level it hasn't seen since September 7 last year.
The Eurogroup will release the third tranche of aid to Greece only after the meeting on Monday 12 November. Only on Sunday, in fact, will there be the final vote of the Greek Parliament on the budget. The latest useful date is November 16 when the country will need liquidity to repay the maturing bonds
In Milan, however, the minus sign prevails, with some significant exceptions.
Shines Telecom Italy , up 3,68% after the announcement of third quarter results: profit was slightly better than analysts' expectations, net debt much better.
“Debt reduction proceeds in line with our plan, we confirm the debt targets also for 2013 and 2014 and we maintain the current dividend as the basis for shareholder remuneration for the same period'. So stated the executive chairman of Telecom Italia, Franco Bernabe', during the conference call for the presentation of the accounts. 'The net proceeds from the sale of Matrix and TiMedia Media will be positive and will allow us to fill the gaps to reach the net debt target of 27,5 billion' expected by the end of the year, as defined by the 2012-2014 business plan, he said Bernabe'
Finmeccanica rises by 6,3% after the results which sanction the company's return to profit. Furthermore, the subsidiary Ansaldo Breda was awarded a 300 million dollar contract for the construction of the subway in Miami. Well too Ansaldo StS + 0,8%.
In Piazza Affari the strongest losses remain those of financial stocks. Among the banksUnicredit drops by 1%, Understanding -0,66% Mediobanca-2,66% Banco Popular -2,21% MontePaschi [BMPS.MI] -1,84%.
Among asset management stocks it sinks Mediolanum -4,96%, after yesterday the CEO Ennio Doris said that the 2012 dividend will be modest.
Generali drops by 1,21%: the results for the third quarter were in line with expectations. The new business plan will be presented on January 14, said the CEO. Mario Greco.
Rest falls by 2,75%: after the results announced yesterday, Cheuvreux cut the rating from underperform to outperform and confirmed the target price at 8,5 euros. Exane has cut the target price to 8,2 euros and reiterates its neutral opinion.
Banks all in red: Understanding -0,66% and Unicredit -0,99%.
Geox it loses 6,2% and is among the worst stocks of the session: the results were lower than expected.
