Best Italia Economy Portal: August 2014

Tuesday, August 26, 2014

Telecom Italy discovered the cards in the board of directors plan to Vivendi – La Stampa

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The spread below the threshold of 150 points – Corriere della Sera

government bonds

Milan , August 26, 2014 – 10:13

dip below the level of 150 – up to 147 points in the morning and also in the closure of day – for the spread between BTP-Bund, while touching a record low 2.41% on ten-year Italian bond yield. Traders call it “effect-Dragons’ indicating market expectations towards the ECB president from whom we expect the launch of the so-called non-conventional measures, or” quantitative easing, “the purchase of securities of private and public already experienced by the United States to stimulate the economy and fight deflation and stagnation in Europe.

130 points down to even the spread between Spanish Bonos and the Bund, with a Spanish bond yield at 2.24%. The differential Italian is even lower than that of the British ten-year bonds (gilts) and the Bund which marks 151 basis points, with a rate at 2.44%. The auction of Ctz is successful and the two-year title tricolor marked a new record low since the birth of the euro at 0.326% gross. Tomorrow, if the positive trend should continue for Italian bonds, the Semiannual Bot could reach the threshold of 0.10%, according to market estimates.

Piazza Affari, after a slow start contrasted, finished the day in net increase, + 1.33% with the FTSE MIB to 20,645 points. On the main list of purchases have focused mainly on energy and banking. The positive tone was reinforced after the publication of some positive macro economic data for the United States. But Piazza Affari, in line with other European markets, has also continued to benefit from the reassurance of Mario Draghi about the intention of the ECB to use all the tools ‘available’ to ward off the risk of deflation.

August 26, 2014 | 10:13

Spread below 150 points, the minimum rate for Ctz. Lists cautious before … – The Republic

Investors go to checkout after the sharp gains yesterday, driven the availability of Draghi to use innovative tools to fight deflation EU. Tokyo lima 0.6% with the recovery of the yen. Rally bond unstoppable: the spread between BTP-Bund falls again and the Treasury hits new record low in the auction Ctz. Rome pays the debt within London. The S & amp; P500 close to 2 thousand points

RAFFAELE Ricciardi

MILAN – 13:00 – The international equity markets pulling breath after a run by the beginning of the week, driven by confidence in Mario Draghi : The leader of the ECB, in his last public appearance in Jackson Hole, he used tones from “dove” opening up the prospect of a massive intervention Eurotower (a quantitative easing -style Fed, everyone thinks) to support the economy and do battle deflation. Words that were enough to ignite the enthusiasm of the markets and turn off the concerns related to the German data negative.

The propensity to trust in Frankfurt led a rally in the bond portfolio, with the periphery of the Eurozone – including Italy – to benefit from it even today. The dividend is picked up immediately by the Treasury, that the return to emissions after the summer hits record low yield for the two-year Ctz.

As expected, Italy has raised € 3 billion recognizing investors with a gross annual yield of 0.326%. This is the new historic low. Despite this new descent, the real rate of interest to two years remains largely positive (+ 0.22%) compared to Germany where traveling time in negative territory. A phenomenon that, in a situation of deflation discourages investment spending in favor of the annuity. And increases the actual weight of the public debt. Benificio for some accounts, however, comes from the decrease in the average cost, which is the narrowing of spread between BTP and the Bund. The differential

yield spreads between government bonds Italians and Germans broke down the door of 150 basis points and the yield of treasury bonds hit a new historic low of 2.4%. Investors pay a little more Italian debt than they do with the United States, even less so than for that of the United Kingdom.

The macroeconomic agenda, while the EU has exhausted; for the United States to be pinned dissemination of data on consumer confidence in August, those on durable goods orders in July and ending index of home prices in June. L ‘ OECD Meanwhile, certifies that the Italian GDP in the second half is the only one in decline (-0.3%) among the G7. The scene, on a day devoid of ideas macro striking for the Old Continent, back l ‘ Ukraine : the Minsk summit between the parties involved (Kiev, Moscow, Brussels) could lead to a relaxation after battles and tank incursions of the last days.

L ‘ € stabilizes after being under pressure for the series of negative data on the German economy and the effect expected for the next moves of the ECB. The European single currency hovering around $ 1.32 a share after hitting a low of $ 1.3178, its lowest level since September 2013.

In this context, the EU markets advance spotty but improve with proceed exchanges: London , yesterday closed for holidays, recovers 0.3%, Frankfurt lima 0.2%, Paris of salt 0.2% and Milan turns positive in 0.4%. A Piazza Affari you always look at Telecom Italy: Approaching the board of directors who will discuss the plan to get to the Brazilian Gvt, opening the capital of the French Vivendi as the main counterpart. Meanwhile it is expected a new day summit between Cesar Alierta, a number of Telefonica, and Vincent Bolloré, Chairman and shareholder of Vivendi. The summit could serve to present the new financier Breton group’s offer on the Iberian group Gvt, in its competition with Telecom. Outside the quoted price lists, but there is a business case for Italy prince, you look at the board of Alitalia , which takes stock of the situation on the agreement with Etihad and the business plan.

In the morning there was the closure of the negative Tokyo Stock Exchange , in the wake of realizations triggered by the strengthening yen. The Nikkei-225 index ended the day down 0.59% at 15,521 points. Opaque data also from the macro front: the index that measures the business confidence in Japan in August showed a drop to 47.7 points from 48.7 points in the previous survey. Analysts had expected a figure of 49.5 points. Shinzo Abe , the conservative prime minister of Japan, confirmed then that will make the cabinet reshuffle next week to try to revive the popularity and political action.

Thanks to the recovery of ‘ m & amp; ae hypothesis of new stimulus by the European Central Bank, Wall Street closed higher with the S & amp; P 500 that closed the twenty-ninth record year. Eventually, however, the benchmark index has not been able to keep the psychological threshold at 2000, won for the first time ever in during. The enthusiasm of European investors was followed by those Americans who have ignored the unexpected drop in new home sales in July. After clearing transactions, the S & amp; P 500 has finished rising 0.48%, to 1997.92. The Dow Jones added 0.45%, to 17,076.87 and the Nasdaq posted a + 0.41%, to 4557.35. Among the stories of companies, Burger King (+ 19.51%) ran on rumors of negotiations to buy the Canadian Tim Hortons (+ 18.91%) to implement the so-called reverse tax.

Oil is up Asian markets to $ 93.55 per barrel WTI and $ 102.78 for Brent. Gold a slight decrease of 0.1% in Asia to $ 1,279.60 an ounce.

First data on the spending review, a subsidiary out of four … – The Press

First data on the spending review, a subsidiary out of four negative return

At the sieve of the Commissioner Cottarelli over 5000 companies. Of these 1075 have published budgets and 143 have negative equity or no

ANSA

commissioner for the spending review Carlo Cottarelli

08/26/2014

1.424 (about 1 in 4) the investee local authorities with a negative return on capital employed (Roe). This is what emerges from a study of the Commissioner to the Spending Review, Carlo Cottarelli passing a sieve 5,264 companies for which accounts are available for the 2012 study is on the site of the spending review.

Among the subsidiaries of local authorities surveyed by the Ministry of Economy, there are 1,075 in 2012 whose financial statements are, at the moment, “off limits” for the Commissioner Spending Review. In the study published today are referred to as companies’ financial statements are not available. ”

There are 143 companies invested in by the local authorities in the financial statements 2012 have negative equity or no. Emerges from the study of the Commissioner Spending Review on budgets. The three with a “red” are the largest real estate Cmv of Venice (20.3 million), the Fiera di Roma (15.7 million), the transport company Lazio Cotral (14.9 million)

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School, towards the elimination of substitutes

lapresse

25/08/2014

AFP

26/08/2014

All chapters of the Third World War

GIORDANO OF STABLE

The Third World War, fought only into small pieces, in chapters. The Pope’s words. Expression by the innocence and simplicity of the Gospel, but insightful as a geopolitical analysis. It is the world of today, born after the end of the War …

Here comes the passport, Sanchez Mino ready for the match against Inter

lapresse

26/08/2014

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Unlock Italy, Lupi covers law Stability – Reuters Italy

RIMINI (Reuters) – The shell of the decree Unlock the Italian Council of Ministers will consider Friday evening will be found in the next law of stability: some of these covers will be anticipated, therefore, already in the decree, while others will be in the law that will be launched in early October and will be valid from 1 January 2015

This was stated by Minister of Infrastructure Maurizio Lupi, during a press conference hosted by Fs in the halls of friendship Meeting being held in Rimini.

“The decree Unlock Italy and the Law of Stability traveling in parallel. Could it be that some parts of the shell will be anticipated in the decree Unlock Italy discovered as not to leave these four months, others will start January 1, 2015,” said Lupi.

The minister has denied that there is a clash between his ministry and the Treasury on the roofs of the decree.

“We have worked in the month of August and the previous one on the lines of the press conference by President of the Council Matteo Renzi,” said Wolf, referring to statements by the Prime Minister in which he said that the measure will make cantierabili Unlock Italian public works 43 billion already provided for.

“The measure will declinations very proactive. We had already met before mid-August with the Minister of Economy. During this week, engineers are working on. Wish to operate on cutting spending, the spending review” for the procurement of resources , said the minister.

Lupi said that the definitive encounter to decline the contents of the decree which will be held in cdm Friday evening with him, Pier Carlo Padoan, Federica Guidi and the President of the Council Matteo Renzi Thursdays at Palazzo Chigi. The minister, however, is not entered in detail the measures that will be in the decree.

www.reuters.it On other news Reuters in Italian. The top news also on www.twitter.com/reuters_italia

The spread falls below the altitude of 150 to historic lows. Italy best of … – Rai News

Dragons overwhelming effect on the performance of Italian bonds. ECB President announced new measures to stimulate the economy and fight deflation

August 26, 2014 Spread between btp bund and still falling in the opening session, held back by the effect-Dragons markets after the relaunch of possible non-conventional measures of “quantitative easing”, or the purchase of securities of private and public already experienced by the United States to stimulate ‘ economy and fight deflation in Europe. The yield spread between the ten-year benchmark Italian and German the same maturity came early in the session to 150 basis points, losing two points compared to the end of Monday, with a return of btp still down 2.4% on the minimum already registered. Down 130 points also the spread between Spanish and bonos bund, with a Spanish bond yield at 2.2 per cent.

Best of UK
And after touching a new low in the ten-year yield on treasury bonds fell below the equivalent title tenth anniversary of the United Kingdom. The treasury bonds traded on the secondary market gets a yield of 2.4% with a differential of 147 points on the Bund mind the bond to ten years in Her Majesty offers a yield of 2.47% with a spread of 153.5.

Monday, August 25, 2014

Challenge for the tower symbol of the City – The Press

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Sardinia, banks do not make loans and mortgages: wear increases – Altopascio.info

The crisis does not seem to ‘pack their bags’ and leave Italy. Families and businesses are struggling to survive, particularly in certain regions such as the Sardinia , where banks are reluctant to provide loans and mortgages. Compared to a year ago, according to the CGIA Mestre , were granted to households and businesses in this region, well 100 billion euro in less .

“The funding to the regional economy are again reduced, confirming the continuing crisis . The loan demand remained weak and the credit quality has deteriorated, “reads the report of the CGIA Mestre. Such a situation, unfortunately, excessive wear.

Germany, the locomotive of Europe is jammed. Down the confidence of … – The Press

Germany, the locomotive of Europe is jammed. Down the confidence of businesses: drop more than expected

The Ifo index down for the fourth consecutive time: 106.3 points against 107 expected. Weighs the sharp slowdown in GDP quarterly: a contraction of 0.2%, the first negative figure since 2012

Chancellor Angela Merkel is now an official visit to Spain

08/25/2014

The German economy still in trouble: after braking GDP scored from -0.2% in the second quarter, down for the fourth consecutive month the index of business confidence, its lowest level since 2013 The Ifo index, which records exactly the sentiment of German companies , stood at 106.3 points, less than expected. In fall, the index that measures the current situation, which goes from 112.9 points in July to 111.1 in the current month. To weigh, according to economists Institute of Monaco, it is mainly the Ukrainian crisis and the standoff of the Russia-EU sanctions which is dangerously affecting trends in exports of enterprises in Berlin, particularly exposed to Moscow.

And if this is not rosy turning point is not around the corner, according to Klaus Wohlrabe, Ifo economist, in the third quarter of the year, German GDP growth will be close to zero. The entire 2014, according to Wohlrabe, German growth should reach 1.5%, compared with an increase of 2% expected. Consumption, however, hold up, reports the Ifo and the German economy is still “far from recession.” The Ifo economist confirms that the German braking is mainly due to the crisis in Ukraine is difficult to quantify, especially on penalties in Moscow, which have limited the turnover of enterprises: German companies that have close ties with the Russia are very pessimistic. In particular, as is clear from the analysis of the Ifo both the Henkel group that the defense giant Rheinmetall have cut their profit forecasts for the next few months just because of the Ukrainian crisis and sanctions against Russia. A particular worry is therefore the slowdown in exports to Moscow: the percentage in the first six months of the year fell by 15.5% to EUR 15.3 million mainly on the front of the machines. And the German manufacturing fears a further braking.

The Ukrainian crisis is having an impact on the progress of the German economy, but Germany is expecting a “good” GDP growth for this year, from Spain reassures the German Chancellor, Angela Merkel, who collects a sort of victory at the distance against the French Minister of Economy, Arnaud Monteburg that in a long interview with Monde, had questioned the German rigor and excessive austerity advocated by Berlin.

Today, the French Prime Minister, Manuel Valls delivered to the President of the Republic on its mandate and are expected by tomorrow a government reshuffle. Without Montebourg. Nothing has changed in relations between France and Germany, favorable policies for growth and jobs remains a priority, ensure the spokesman of Merkel, who has not commented on the news of the resignation instead of Valls, stressing that this is an internal matter for the French .

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AFP

25/08/2014

Rome, kills and beheads maid blows of the ax.The officers assaulted shoot and kill him

ANSA

08/24/2014

shock of an earthquake in California. Dozens of injured, three are serious. The alarm sounded on Twitter

lapresse

08/24/2014

Dead Richard Attenborough, the Oscar-winning film

08/24/2014

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Germany has stopped. Crolla business confidence – Rai News

New drop in August Ifo index. Deflection worse than expected following the first fall in GDP in the last quarter

August 25, 2014 New drop in August Ifo index. The index that measures the German business confidence fell for the fourth consecutive time points to 106.3 from 108 for the month of July. The agency reported Bloomberg , explaining that the decline was worse than expected, still 107 points in the new decline in the index reflects the slowdown in the Eurozone and political tensions with Russia and the escalation sanctions internazioni toward Moscow to whom it is paid the embargo by Putin to different foods.

The new fall follows the first fall of German GDP in the last quarter which recorded a contraction of 0.2%.

Alcoa, closed the plant in Portovesme: “It’s not competitive.” The … – The Press

Alcoa, closed the plant in Portovesme: "It's not competitive." The … – The Press

Alcoa, closed the plant in Portovesme: “It’s not competitive.” The CGIL: “Respect the commitments”

The company statement: “High cost of production limited prospects.” For employees set up “a program of financial and social support for the search for a new job.” The union: “And ‘broken record’

ANSA

A protest of the workers at the port of Alcoa Cagliari

08/25/2014

Closes the Alcoa plant in Portovesme. Announcing the decision to close the smelter is the same company that pole Sulcis Iglesias produced primary aluminum. “The closure will reduce Alcoa’s overall production capacity of 150,000 tons to 3.6 million tons per year – according to a note – The interruption of production had been implemented in 2012 due to high production costs, among the highest in the smelter Alcoa, and the limited prospects for competitiveness of the plant. ”

The note also the reasons that have pushed the company to the decision. “The underlying reasons that made it uncompetitive plant Portovesme are unfortunately not changed – said Bob Wilt, president of Alcoa Global Primary Products -. We will continue to meet its commitments with our employees and stakeholders acting in good faith as we always have. ”

The company explains “how to commitments made by the government and unions,” has prepared for the employees, “a program of financial and social support services including outplacement and search for a new job . The closure of Portovesme – he said – is consistent with the strategy of Alcoa to establish a business in the commodity globally competitive and with the goal of improving its position on the cost curve of world aluminum production reaching the 38th percentile by 2016 . ”

The well-known American company also explains that “the total charges for the restructuring, which will be recorded in the third quarter of 2014 following the closure, will amount to between 170 and 180 million dollars, net of taxes, or between about 0.14 and $ 0.15 per share, of which approximately 60% and non-cash. ”

The Alcoa “is a broken record. The company goes ahead with these statements for the past three years. ” This was stated by the secretary of the CGIL Sardinia, Michele Carrus, after confirmation of the American colossus want to close plants Portovesme. “What matters is all’Adnkronos–emphasizes the union that the company confirms its commitment to maintain the facilities and the ease of transfer to other operators that can detect and maintain control” structure. “We know that from the point of view of Alcoa’s decision is irrevocable,” says Carrus. “The company looks at its own interests and is oblivious to the disasters that can result in a reality, a territory, a production system.” The factory Portovesme, reminiscent of the union, “produces primary aluminum, and with its closure will be forced to import not only the final product, but also the intermediate, to carry out a large part of our manufacturing activities.” The CGIL therefore calls for a “commitment to the region and the government to find a buyer interested in the establishment.” “We would like that you put in the whole field capacity to act, to a large industrial country, to find out who can successfully detect activity that is vital to the economy of Italy.”

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AFP

25/08/2014

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08/24/2014

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08/24/2014

British special forces in Syria and Iraq: the hunt is on to

ANSA

08/24/2014

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Milan Stock Exchange in a 1% rise after Draghi, well Mps, Carige – Reuters Italy

MILAN, August 25 (Reuters) – Piazza Affari moves in a tight range in thin market and sluggish for the summer and for the closure of London for holidays, supported by comments from ECB President Mario Draghi, on a possible further easing of monetary policy.

Draghi said that the ECB is ready to act with all means possible if inflation were to fall further.

At 11:30 the FTSE Mib index rises 1.04%, the All Shares of 1.01%.

Exchanges to 470 million euro.

Futures FTSE Mib at 20,115 after falling 20,000 in the support area.

The European FTSEurofirst index rises by 0.59%.

Banking positive, with Unicredit and Intesa Sanpaolo up by more than 1%.

MPS rises by more than 5%, with a volume of about 43 million, compared with a daily average of 63 million, pending the board of directors of the Foundation, where, according to the papers will discuss governance. According to a trader, today there is no news can move the title. “The downside risks of MPS are now considerably reduced. Purchases of today seem linked only to this awareness.” Read more …