Another record placement of the Treasury. They were placed this morning 7 billion BTPs with returns to absolute minimums. In detail: 3 billion Btp 3 at 0,51% (against the previous 0,78%); 2,5 billion BTPs over 7 years at 1,29% (1,74%); 1,5 billion BTPs over 15 years at 2,46% (2,97%).
After the auction it BTP/Bund spread it dropped to 129 basis points, the 1,76-year rate is at 1,61%, the gap between the Spanish Bonos (115% yield) and the Bund is XNUMX basis points.
After the outcome of the auction, the Borsa di Milan accelerates upwards. Highlights too Telecom Italia +3,5%: yesterday the group issued a 1 billion 3,33-year bond (yield 3,35%) and announced a bond buyback offer for XNUMX billion. According to the Financial Times, the most probable prospect for Tim Brasil is the stew between the various competitors.
Oil marks new declines to almost six-year lows after the energy minister of the United Arab Emirates, one of the major OPEC producers, reaffirmed the correctness of the decision not to cut production. At 12 Italian the Brent futures dropped 3,23% to 45,93 dollars per barrel. The US WTI loses 3,13% to 44,63 dollars.
Back off Eni -0,5% after S&P Capital IQ downgraded its rating to Strong Sell with a target price of €10,4. Tenaris drops by 1,5%. Saipem reacts with a recovery of 2,2%, after yesterday losing 9,7%: Consob has today banned short selling on this stock. In Italy, in November, industrial production rose by 0,3% on the previous month, the highest value since the +0,9% in June. The year-over-year change is -1,8%. Fiat Chrysler rises by 1,4%, after yesterday's declarations by the CEO Sergio Marchionne, who expects single-digit growth for the car markets of the United States, Europe and Brazil in 2015. The increase continues for Pirelli +2,3%, Cnh Industrial +1%.
StM rises by 0,7%. Banks on the rise: Unicredit +1%, Intesa +0,9%, MontePasch unchanged. Banco Popolare +1%, Ubi +0,5%, Pop.Milano +1,4% are up.
