Italian Stock Exchange in fall – Il Sole 24 Ore

03/05/16

Italian Stock Exchange in fall

03/05 – FTAOnLine – COMMENTARY ON THE MEETING – Italian Stock Exchange Down: Ftse Mib -0,49%. Oil down, well FCA The Ftse Mib marks -0,49%, the FTSE Italy All-Share -0.45%, FTSE Italy Mid Cap -0.37%, the FTSE Italy Star -0.21%. European stock markets down. DAX -1.3%, CAC 40 down 0.8%, FTSE 100 down 0.4%, IBEX 35 -0.8%. Futures on US stock indexes at the time downward of 0.2-0.3 percent. The closures of the previous session on Wall Street: S & amp; P 500 + 0.78%, Nasdaq Composite + 0.88%, the Dow Jones Industrial +0.66%. Tokyo from today for three days closed for Festivities . uncertain Chinese stock exchanges: the Shanghai Composite Index and Shenzhen CSI 300 closed at + 1.80%, while Hong Kong’s Hang Seng index marks around -1.5%. After ten consecutive meetings without intervene, the Reserve Bank of Australia (RBA), with a decision expected in part, has cut interest rates from 2.00% (value reached in May last year with the cutting of 25 basis points) to 1.75% in an effort to combat low inflation and the strengthening of the local currency. And in Sydney has been rallying, relying heavily on financial stocks jumped in front of a seated opposed to the commodity sector. In a session countered at large for Asian markets Shanghai and Shenzhen join the rally in Sydney (the S & amp; P / ASX 200 closed with a 1.95%) jumped, although for most of the day have emerged downward pressure. The reopening of the eighth (Monday Chinese bags had been closed the celebration of Labour Day) Shanghai Composite and Shanghai Shenzhen CSI 300 have finally seen their performances consolidate into closure, marking advances of 1.85% and 1 , 80% respectively. Definitely better did the Shenzhen Composite , which recorded a jump of 2.94% at the end of trade. In the opposite direction, however, the session in Hong Kong that even aggravates the losses at the close of the session: the Hang Seng closed declining 1.84% (even worse did the Hang Seng China Enterprises Index, subindex reference in the former British colony to China Corporate, deprezzatosi 2.13%). the euro rises further against the dollar and touches share 1.1586, up from August . At the moment EUR / USD fluctuates in 1.1580 area. Bond markets Eurozone slightly wavy . The yield on ten-year Bund is stable compared to the previous close at 0.27%, that of BTPs drops by 1 bp to 1.53%. The spread drops 1 bp to 126 (source: MTS). retreat CNH Industrial -2.2%, -1.2% Campari, Ferrari -0.6% probably penalized by the weakening of the dollar over the euro. on oil sales in the wake retracement crude from the highs from November touched on Friday. The Brent futures on the swings now $ 46.40 / barrel (from 48,28), one on the WTI $ 45.30 / barrel (from 46.77). Red Tenaris -2.2% (on which Kepler Cheuvreux worsens the recommendation from HOLD to REDUCE) and Eni -1.2%, just move Saipem (PERN yesterday that he had lost more than 5%). in green FCA (+ 0.9%) than in April increased its sales in Italy of 12.15% , slightly better than the 11.5% of the market. According to press rumors within the day today going to be announced an agreement with Google in autonomous driving technology: the prototypes will be made based on the Chrysler Pacifica. Just moved my bank since the slump of yesterday in the wake of the failure listing of BP Vicenza and pressochč total supply coverage by the Fund Atlas: the latter holds 99.33%. TITLE oF tHE DAY : B POPULAR Banco Popolare suffered yesterday the flop consequences of the capital of Popolare di Vicenza. Today an attempt to rebound, however, does not erase the perplexity ‘of the previous sitting. Italian stock exchange has not in fact approved the IPO Popolare di Vicenza because of the limited float, equal to about 8%, and compared to a minimum of 25% provided for in Regulation threshold. Even Banco Popolare must ‘soon pass from the market for the recapitalization of one billion euro expected from the planned merger with Popolare Milano and although the leaders say they are confident about the success of the transactions between operators winds nervousness. Banco Popolare has touched an intraday low monday ‘to 5.67 Euros after finishing Friday’ last year to 6,165 Euros. Prices have attempted in the past two weeks exceeding the minimum of February, to 6.27 euro, support breached on March 31 and revised as resistance from 15 April. Failure to pass the obstacle after repeated attempts has discouraged the market that has’ reported sharply ahead of the 50% retracement of the rise taking place from the lows of April, support around 5.45. The estate of this support would leave open the way for an attempt to bounce over 5,825, the low of April 20, could again groped the assault to 6.30 euro. The break also imposed in those levels would distance the fears of being in the presence of a new phase of weakness and prospetterebbe hand movements to 8 euro. Below 5.45 area however the return on the April record lows to 4.35 would become likely. Difficult to provide targets for exceeding those levels for the lack of historical references, but test area at least 3.50 seems likely. For those wishing to buy the stock to wait for the break of 5.83 for intervene with target 6.50, stop loss below 5.60. for those who already ‘holds the title maintain positions with stop just below 5.45, increase them over 5.83 for the six tests , € 50. EXPECTED DATA : as for the macroeconomic calendar appointments today we point at 10:30 UK manufacturing PMI at 11 : 00 index prices to the euro zone manufacturing and spring economic forecasts from the European Commission. in the US at 16:30 intervention Mester (Fed), the sales of motor vehicles, the Williams intervention 20:00 (Fed) .