FIAT SWAPS AFTER THE QUARTERLY, BTP AT 2,60%. THE DOLLAR FLYING, OIL STOCKS UNDER FIRE
New all-time lows for yields on 5 and 10-year BTPs at the Treasury auction. 2,5 billion 3,6-year bonds were assigned (against demand for 21 billion) with rates down by 2,60 basis points to 3% and 4,36 billion 16-year bonds (demand for 1,20 billion) with yields in down 1,5 basis points to XNUMX%. XNUMX billion CcTeus have also been assigned with a five-year maturity.
The BTP trades on the secondary market at 2,63%, on historic lows. Meanwhile, pending the Fed's statement (expected for 20 pm), the dollar is making progress: the euro has slipped below the 1,34 threshold for the first time since November. The uncertainty of the new sanctions against Moscow weighs on European lists. The Stock Exchanges are slightly down: London -0,1%, Frankfurt -0,1%, Paris -0,4%. In Milan, the Ftse Mib index drops by 0,11 to 21061.
The exception is Madrid, up 0,1% after the release of Spain's GDP in the second quarter, growth was 0,6%, in addition to being the strongest increase in the last six years, it is also a larger change to expectations. The Moscow Stock Exchange rises by more than 2% in the aftermath of the decision by Europe and the United States to tighten sanctions against Russia.
In Milan, Fiat loses ground -1,6% after the release of the quarterly accounts. The data shows a net profit halved to 197 million euros, the 2014 targets were confirmed while debt fell to 9,7 billion euros. Revenues increased by 5% to 23,3 billion euros. Analysts' estimates forecast higher revenues to 24,6 billion from 22,3 and a net debt to 9,8 billion from 10. Ebit in the period marked a drop to 598 from 733 million in the NAFTA area, a 62 from 224 million in Latin America, an increase to 106 from 88 in Asia and the Pacific, while the EMEA loss decreased to 6 from 69 million. Luxury brands reported an increase in Ebit to 166 from 105 million.
Finmeccanica rises by 1%. Pirelli loses 0,9%, Prysmian 1,3%. In Europe, oil companies retreat, the Stoxx index loses 1%, the French Total is down 3% after the presentation of data for the quarter: the adjusted net profit fell by 12% to 3,15 billion dollars. In Milan, Eni loses 0,7%, Saipem +0,3%.
The worst blue chip in Piazza Affari is Mediaset, down by 2,4%: yesterday the company published its quarterly data and provided disappointing indications on the trend in advertising sales. Banks are positive, Unicredit rises by 0,3%. Binding offers for 50% of Pioneer are expected today. Among the luxury companies, all down, the worst is Yoox -1,4%.
