Italian Stock Exchange fell sharply: Ftse Mib -2.45%. Sell-off on bank
Italian Stock Exchange fell sharply: Ftse Mib -2.45%. Sell-off bank.
European stock markets weak. Wall Street in red: at the close of the European markets, the S & amp; P 500 marks around -1%. The Ftse Mib ended at -2.45%, the FTSE Italy All-Share to -2.15%, the FTSE Italy Mid Cap to -0.24%, the FTSE Italy Star at -0.69%.
Euro volatile against the dollar. At the beginning of the morning touches the highest from October to 1.1454, then retraces down over about 1.1340: the ECB has published the minutes of the monetary policy meeting on March 10 which shows that the board members discussed long on whether to make a more drastic cut in interest rates, thus not excluding a new intervention. New recovery in the final up in 1.14 area.
Bond markets in the eurozone decided divergence, purchases on the Bund, strong sales on the BTP. The yield of the ten-year Bund compared to the previous close drops by 3 bp to 0.09%, that of BTPs rooms full 12 bp to 1.41%. The spread is rising by 15 bp to 132 (source: MTS). Today the Treasury closed the placement of the ninth issue of the Italian BTP, maturing April 11, 2024, with amount issued amounted to 8.01 billion euro.
As for the macroeconomic data of the day today we note that the US new requests for unemployment benefits in the week ending April 2 totaled 267,000 units, below expectations (270,000) and the figure reported the previous week (276,000 units). In the UK, the Halifax Index of Real Estate Prices in March recorded an increase of 2.6% on a monthly basis. Compared with March 2015, the index and ‘grew by 10.1% compared to expectations of 9.5%. The Spanish National Institute of Statistics announced that the industrial production in Spain in February grew by 2.2% over the same period of 2015 by +3.4 y / y recorded in January. Analysts had estimated an increase in industrial production by 3.2% on an annual basis.
New sell-off on bank: the Italian FTSE Banks index ends at -4.41%, the ‘EURO STOXX banks -3.2% approximately. With yesterday’s vote in the Senate became law the government decree on the reform of the cooperative banks and the establishment of a public guarantee on the securitization of loans ( Gacs). Continue to circulate rumors about the creation of two guarantee funds, managed by the CDP, for the recapitalization of banks and the purchase of non-performing loans. The worst performances were those of MPS -8.09% Bank, Banco Popolare -7.55%, UBI Banca -6.27%, -5.92% UniCredit, Banca Carige -5.24%.
also sales of FCA (-3.93%) : weigh signs yesterday of Anfavea, the Brazilian association of motor vehicle manufacturers, which published new findings on the month of March on sales of cars, trucks and buses, dropped by 23.6% compared to March 2015 (+ 22.1% since the month-on-month). Luiz Moan Yabiku Junior, president of Anfavea, admitted that the figure has been placed under the expectations that were of greater growth in the pace of sales. FCA is the market leader in Brazil.
In red Mediaset (-3.77%). According to press reports the agreement with Vivendi for a reciprocal exchange of shares of 3, 5% and the sale of Mediaset Premium to the French will be announced tomorrow.
Heavy decline for Astaldi (-6.78% to 3.60 euro) pointing dangerously close to the minimum multi-year at 3.58 euro touched in February. This last reference is positioned close of 3.4620 touched in summer 2011, the last source useful to ward off an attack toward the minimum of 2009 to 2.50.
In sharp contrast STMicroelectronics (+ 4.31% to 4.79 euro) bouncing after the minimum tests in February to 4.50 Euros. The title will demonstrate their intentions only by overcoming the peak of 23 March to 5,145, for targets at 5,525, up to the beginning of March.
Positive Performance for Danieli & amp; C (+ 3.61% at 18,67 EUR) thanks to Exane BNP Paribas, which confirmed the OUTPERFORM recommendation and raised its target price to 25 euro from 22.
(Simone Ferradini)
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