THE STORK MAKES THE HONG KONG STOCK FLY +2,6%
CORPORATE ACCOUNTS HOLDING BACK THE RACE FOR BUSINESS
Long live the stork. This morning at Hong Kong powdered milk producer Yashili advanced 12%, ahead of Goodbaby +6% baby food. This is the reaction of the price lists to the news, official since Friday, that China is about to cancel the one-child restriction. This is not the only consequence of the publication of the 60 directives that emerged from the CCP Plenum: after the initial disappointment, the markets have acknowledged that Xi Jingping is serious. In Hong Kong, the H index, which includes companies from the People's Republic, rose by 3,9%. The Hang Seng index advanced by 2,6%%, Shanghai also positive +0,9%.
The other positive news from the global economy comes from Dubai: on the first day of the aeronautical show Boeing placed orders worth $100,5 billion. Airbus follows bookings with bookings up 20% for the A-380, which Western airlines have renounced, given the costs (the only exception is Lufthansa) but was able to console itself with purchases by Eitihad. The Abu Dhabi-based company also announced the purchase of the medium-haul Swiss company Darwin, which is also active on Italian routes.
WALL STREET HUNTING FOR THREE HISTORIC RECORDS
Will Wall Street continue its run? Yes, according to JP Morgan. Thomas Lee, US bank strategist, after noting that the S&P index (+26% in 2013) has already exceeded the target set for the current year, corrected the forecast upwards: the new high it is set at 1825, for price earnings of 16 times, higher than the average of the last five years (14,6 times).
Janet Yellen's debut it has given new breath to stock lists, both in the USA and in Japan as well as in "core" Europe. On the contrary, Brussels' negative judgment on the budgets of Italy (and Spain) has, for the time being, interrupted the flow of capital towards “peripheral” Europe.
In summary, the result is:
- New historic records on Wall Street. The Dow Jones index +1,64% is one step away from the threshold of 16 points (15.849). The S&P 500 +2,36% has already breached the barrier of 1.800 points (1.788).
– Even the Nasdaq at an altitude of 3.985 it sees the peaks of the XNUMXs again. The Time Square price list has taken its revenge on the Nyse: the company born from the merger between American Airlines and Us Airways has chosen the technological price list, as opposed to Twitter which has preferred the "old" Wall Street.
– Meanwhile, the index MsciWorld advances by 0,98%.
– And also the Nikkei +1,9% is above 15 as has not happened since May.
Frankfurt (+1%) celebrates new historic records for the second consecutive week.
In Piazza Affari, the FtseMib index closed the second consecutive negative week with an overall loss of 1,5%, strongly conditioned by the decline in bank stocks.
Milan was the worst price list in the euro area, considering that Madrid, the other peripheral market, lost a total of 0,6%.
CORPORATE ITALY, THE MEN SIGN PREVAILSO
The recovery that does not exist makes itself felt on the accounts of Piazza Affari. The figure that emerges from the accounts for the first nine months indicates a total turnover which stood at 415 billion against 432 in 2012, with a drop of 3,9%.
Same trend for ebitda; dropped from 78,1 to 70.4 billion, with a drop of 9,9% in the space of a year. The net operating result is also down, as are net profits from 18,1 to 14,3 billion, with a drop of approximately 21%. The write-down of Telecom Italia's goodwill weighs heavily in this case.
Same rating for banks. The sample of the top 12 banks that have already delivered the third quarter numbers records a total profit of 158 million against 2,146 million a year ago. In this case, the very heavy cut (1,3 billion) to Carige accounts weighs.
Today they release the interim dividend: Mediolanum (0,1 euro; down payment).- Tenaris (0,13 dollars; down payment).- Terna (0,07 euro; down payment). – Recordati (0,22 euro; down payment).
It makes its debut at the Bioera subsidiary Aim Ki Group.
Spotlight on Snai: the company has closed the dispute relating to the new slot network by supplementing the payment of 21,8 million with the one already made at the beginning of the month (43,8 million).
Baxter International and Cell Therapeutics (+18% on Friday) have entered into an exclusive worldwide license agreement for the development and commercialization of pacritinib, active against genetic mutations correlated with the onset of myelofibrosis and leukaemia. Baxter will make an upfront payment of $60 million, which includes a $30 million equity investment in the publicly traded company.
ANSALDO STS IN THE LIGHT. MEDIASET SUFFERS
At the top of the World Duty Free ranking +8% which has benefited, in addition to the good quarterly, the conquest of the license at Helsinki airport.
Follows Ansaldo STS, which closed the week at a new high since April 2010 at 8,17 euro, on the wave of an upcoming sale by Finmeccanica +2,5%.
Positive quarterly results boosted Fondiaria Sai+3,7% and Salvatore Ferragamo.
The black shirt of the week belongs to Mediaset -11%.
Bad week for the banks, sold after the quarterly: Banco Popolare -9%, Unicredit -5,5%, Pop Milano -5%, Banca Intesa -4%.
Azimuth – 4.7% was penalized by the issue of 250 million euros of convertible subordinated bonds.