Continues this morning rally in European stocks. Square Business , in particular, advances on the wings of the rescue of the banks. The FtseMib index stretches rising by 0.9% abundant, more than 18 thousand share. Also rooms Paris + 1%, do best Madrid and Frankfurt + 1.6% + 1.3%. London + 0.8%.
The rise of the dollar , which consolidates the gains of the last two sessions (1.114 against the euro) and oil (Brent + 1.2% at 49, $ 2 per barrel, WTI at $ 49.2 + 1.3%), promote the recovery of the markets, which now discount the rise in US interest rates.
In the Eurozone the news of the day is the agreement with the creditors, which will open the next tranche of aid from 10.3 billion, but especially the green light to the restructuring of the Athens . The yield on ten-year Greek government contracts by 20 basis points to 6.85%, to 2 years collapses of 130 basis points to 5.90%.
Positive reception of the market to the next Federico Ghizzoni from the top of Unicredit + 2%. The Kepler Cheuvreux analysts today confirm the buy recommendation on the stock. Regarding the appointments toto, head Marco Morelli, former Intesa, now the head of Bank of America in EMEA. Also in the running Sergio Ermotti (UBS), the CEO of Mediobanca Alberto Nagel, and Jean-Pierre Mustier of Socgen. The decision will be made on the board of 9 June.
In soaring even BPM + 2.9% and Banco Popolare up 3.7% after the publication of the proposed merger between the two institutions. The group will be called Tour BPM and will have a board of directors consisting of 19 members.
Salt still Monte Paschi + 1% after a surge yesterday (+ 10.5%) in response to the announcement by Danielle Nouy, head of European supervision, a new plan for the Eurozone suffering. Ubi finally soars, up 4.6%.
The prospect of rising rates is also good for insurance companies and the asset management . General moves upward by 1.3% after + 5.8% yesterday and made up to 13.0 euro. The RBC analysts and Bernstein cut its price target on the stock. Bernstein for the new target price is equal to 11.5 euro from 13 euro earlier. To Rbc drops to 13.5 EUR from 18 EUR. Unipol + 1.1%, Soul + 2.8%, + 3.1% Azimut. Exception this morning Banca Mediolanum -1.8% (+ 5% yesterday).
Highlights also energy . Eni up 1.4%, promoted to Buy from Cheuvreux. The title is, according to brokers, the “most preferred” action in the sector oil & amp; gas. The group, say the analysts, “remains the undisputed leader in terms of costs”, with the technical costs in 2015 were 24% below the average of the competitors. Saipem + 1.5%.
Weak Tenaris -0.5%, the Brazilian subsidiary Confab is investigated, as local companies in other steel groups, with the possibility of corruption linked to obtaining orders by the public giant Petrobras.
Today is the agenda the Board of Directors of CDP, the largest shareholder of Metroweb (46% stake). “If you buy any Metroweb – said Francesco Starace, CEO of Enel – there are 10 areas that are its original mission; these innesteremmo a bit ‘at a time other 224 cities for which we are committed; synergies with the areas C and D which will be contiguous “from here we will evaluate. Enel + 0.8%: seems to be favored for the acquisition of the company that owns the optical fiber network in Milan. The competitor Telecom Italy earns 1.9%.
Positive Fiat Chrysler + 1.3% and + 1.5% StM. Leonardo + 0.5%, announced the signature with the Government of Pakistan of a contract for “several helicopters AgustaWestland AW139 twin-engine”, with deliveries expected next year. Highlights Finally Buzzi + 1.6%, the highest level for eight years supported by some brokers promotions.
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