MARKET
Milan , February 8, 2016 – 09:39
the volatility and bad humor are back on the Milan Stock and around Europe after a positive opening. And Wall Street begins down: the Dow Jones lost 1.65% to 15,930.17 points, the Nasdaq yields 1.96% to 4277.41 points while the S & amp; P 500 leaves 1 off road , 52% to 1851.38 points.
the chronicle of the Milan Stock
the Ftse Mib, the basket of the forty most representative stocks, now lost 3.5%, reaching new lows at 16,600 points. Negative also other European markets: the sectors most linked to the economic cycle, such as banking, auto, construction and technology, recorded declines of between 2.5 and 3%. In Asia, the session was positive for Tokyo (+ 1.1%) while Chinese Bags, from Hong Kong to Shanghai from Taiwan to Seoul, are closed from today until Wednesday to celebrate the New Year. Milan Stock Exchange, which in recent weeks has burned more than 19%, lost due to sales on bank stocks, which represent over 40% of the capitalization of our stock exchange, and are always linked to concerns about non-performing loans still in the balance sheets ( non-performing loans). The day began with an attempt (failed) to rebound after the difficult last week. But not only banks are suffering and there is a spread effect, given that the difference between the yield of our ten-year BTPs and Bunds counterpart widened to 140 points, the highest ever touched since last July, with the yield of ten-year BTP then back to 1.66%. Also on the rise, the differential with the Spanish Bonos, at an altitude of 148 points.
The hunt for quality drives up the prices of bunds
can it be said , as pointed out by some operators, that there is now a contagion to sovereign risk by the financial sector, which also extends to other suburbs, with the Athens Stock Exchange in deep red (-8%). the reverse was happening) and prompt investors to yet another “hunting qualities” in Germany and the most solid countries surveyed, with the yield of the German biennial -0.506% today it is the banks to weigh the BTP (in 2011, a negative performance record that is the other side of a rise in prices.
Banks & amp; other
In Milan Stock Saipem the oil is still in the volatility auction (-23% theoretical) together with MPS, Banco Popular and pace, while under securities normal negotiations after the enlargement of the parameters following the first stop is the worst Carige (-10%), followed by BPER (-8%) and Fca (-7%), suffering more than other groups in the sector falling more than expected the automotive market russo.I banking stocks slip in a crucial week for accounts. Today is the day of BPM, while continuing the negotiations for the merger with Banco Popolare, the accounts of Tuesday will unveil the institute Veneto suffering. Tomorrow it even at Unicredit. The bank led by Federico Ghizzoni is the center of attention: if the vice president Luca Cordero di Montezemolo has spent in favor of management, shareholder Leonardo Del Vecchio perhaps the bank needs to break to embark on a new journey. Also Ubi bank collapses (Wednesday accounts). Intesa Sanpaolo also declined last Friday presented its budget that sees profit growing to 2.74 billion;
The case Saipem
Saipem in freefall in the first day of trading after the end of the discussion of the rights on the stock market of the increase in iperdiluitivo capital of 3.5 billion euro. The title is being sold because it is at a premium compared to the theoretical value of the rights. Also weighs the decision by S & amp; P put the ratings under observation. By Thursday you can exercise the rights, while negotiations on the stock market closed last Friday with a fall of 94% compared to the debut price. They are offered as an option up to a maximum of 9.67 billion shares in the ratio of 22 new shares for every 1 ordinary and / or savings share held at an issue price of 0.362 euro. According to one analyst, “the title you are bringing to the subscription price of 0.362 euro.”
The possible takeover of Engineering
to detect the presence of Engineering sprint, after the investment of funds Nb Renaissance and Apax VIII., who have signed an agreement to purchase 37.1% of the company at a price of 66 euro per share. The transaction, if it is perfected, it will lead to the launch of a takeover bid for the mandatory price always 66 euro per share, a premium of 18.1% compared to the average stock market price over the last six months. The founder and president Michele Cinaglia – reads a note – invest with the funds continuing to be a shareholder of the company with a share of 12.2%, in the case of totalitarian takeover bid for membership. Bestinver, shareholder with a stake of about 8.5%, signed a commitment to adhere takeover bid if certain conditions.
the Bags of others
European shares extend losses further, with major indices that mark next losses or above 2 % and the pan-European Stoxx Europe index (-2.49%) fell to below 320 points for the first time since October 2014. on a day devoid of significant macroeconomic data, and with Chinese markets closed for the lunar new year, investors remain nervous and the negative attitude that had characterized the session on Wall Street last Friday. To maintain the high voltage contribute a strengthening euro, which penalizes exporters, and the volatility of the commodities market, with the price of oil that remains in the swing. Black shirt in Frankfurt, down 2.71%, with particularly intense sales of Commerzbank (-5.07%) and Deutsche Bank (-4.39%). In Paris (-2.30%) was particularly heavy on Airbus title (-4.38%). Sales spread across all sectors fairly evenly in London (-1.78%), where the raw materials sector retraces after a good start. Milan lost 1.78%, Madrid moves back of 2.44%.
8 February 2016 (amending 8 February 2016 | 16:12)
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