Positive US economic data pushes Wall Street, after the prudence of Ben Bernanke's words, and reassure Europe in anticipation of the weekend in which the expected agreement on the Greek debt should mature, which should be close.
Already because if Bernanke defined the recovery so slow as to be "frustrating" and warned of the future threat of debt (citing the European lesson), in January the unemployment rate surprised analysts and fell again to 8,3, 56,8%. Not only did the ISM non-manufacturing index always signal an unexpected acceleration in January for activity in the US non-manufacturing sector, settling at 53,0 points from 2011 in the previous month and reaching the highest since February 53. Here too, beating the estimates that indicated an unchanged value at XNUMX.
There was the usual timing of the number one killjoy: S&P. Whose intervention, however, this time did not disturb the operators too much. In an interview with Bloomberg John Chambers of the Standard & Poor's rating agency said that American growth remains below potential and a change in prospects is not expected at least until the vote, underlining that it takes an average of 9 years to recover the rating YYYY.
The European Stock Exchanges closed up: the Ftse Mib rose by 1%, the Dax by 1,67%, the Cac by 1,52% and the Ftse 100 by 1,81%. Nasdaq and Dow Jones soar more than 1% as Europe closes. The Btp-bund spread confirms the decline, which at the closing was around 376 points, after exceeding 387 basis points during the day with an intraday low of 372 points. The spread of France also decreased below 100 (to 95) while Spain travels to 305.
The euro fell slightly by 0,20% to 1,3120 while US WTI oil continued to rise by 0,5% to 96,90 dollars a barrel. In Greece, the debt agreement between private individuals and Athens is expected for the weekend with the markets closed and, according to what emerges from Athens, the definition of the counterparts for the second aid package is also in its final stages. Meanwhile, the meeting of the Eurogroup which should evaluate the development of the situation in Greece has been postponed: scheduled for Monday, it should now be on the agenda "later in the week".
BPM IN RALLY. MPS IN THE SIGHT OF MOODY'S
The Bpm is rallying on the Ftse Mib which is suspended due to an excessive increase (+11,23% theoretical) and then closes up by 9,48% after having already recorded +4,7% yesterday. These days the bank has the exit of the general manager Enzo Chiesta on the table, more than supported by Bank of Italy which aims at a total renewal of the bank's top management after the new shareholding structure. The resignation could be announced as early as the next few days. Purchases also rained on Banco Popolare +5,20% and Unicredit +3,62%. In red instead Mps -3,53% after Moody's placed it under observation for a possible downgrade the individual rating D+ (“Bank Financial Strength Rating” or Bfsr), the long-term rating “Baa1” and the short-term “Prime-2”.
FONDIARIA CONTINUES THE RACE. GENERALI IN LIGHT ON THE KEPLER BUY
Insurance companies are also in the light: it is still boom for Fondiaria-Sai which jumps today by 14,74% after being suspended. A rally that now lasts for several sessions and which suggests movements linked to new investors or in view of the integration with Unipol. The insurance company announced a 1,1 billion recapitalization earlier this week. Generali was also lively, rising by 2,49%, after cashing in on Kepler's buyout. The broker has improved judgment from hold. The stock reacts and recovers after a week of weakness on fears that the company could launch a raise to buy Kellner's stake in the Eastern joint venture, in the event that PPF, Kellner's company decides to exercise its put option . CEO Giovanni Perissinotto announced that Generali and PPF have agreed that the joint venture will continue until it expires in 2014 and there will be no early termination.
ATLANTIA RUNS AFTER THE BOND. THE MARKET IS HUNTING FOR FUTURE DELISTINGS, BUT CUCINELLI SUBMITS A LISTING APPLICATION
Atlantia (+5,56%) benefits from the positive issue of the 1 billion 7-year bond loan. The operation was successfully placed with institutional investors, with orders exceeding 90 billion in the first 9 minutes and funding closed early. "With today's issue - said Giovanni Castellucci, CEO of Atlantia - we have further strengthened the group's capital solidity by recovering important resources for the refinancing planned for 2014 and for the huge investment plan of over 20 billion euros in Italy which make the group the leading investor in motorway infrastructure in Europe”.
Mediaset rises by 2,17%. In the crosshairs of the market bets on a possible wave of new extraordinary operations, which may perhaps imitate the delisting of the Benettons. Instead, Benetton slows down (-1,64%), while today Bruno Cucinelli announced that it has filed the request for listing on the Stock Exchange and on Consob.
BENEFIT TAKEN ON FIAT
It does not participate in the rise of the Fiat markets -3,68% which falls on profit taking after the recovery of recent days triggered by the data released on Wednesday. A duel between brokers is underway on the stock today: Citigroup confirmed the sell opinion with a target of 3 euros, Ubs raised the target to 5,7 euros with a buy opinion. Ansaldo -1,28% and Telecom Italia -0,83% also down among the worst of the FTSE
