Wednesday, June 29, 2016

Stock exchange, banks and Telecom leading the rebound back again today – FIRSTonline

It consolidates the rise of European stock exchanges. Leading the pack is still the Milan Stock Exchange: the FtseMib + 2.52% index went close again the 16 thousand points to a neck from Paris + 2.75% + 2.6% and Madrid but ahead of London +2 , 44%, Frankfurt +1.89%.

He continued recovery of the pound against the dollar to 1,341 (+ 0.5%). The euro / dollar is stable at 1,106. Advancing oil with Brent back above $ 49 per barrel (+ 1.1%) and WTI $ 48.5 (+ 1.3%). The rise pushes the securities industry: Eni + 2.1%, + 2% Saipem, Tenaris was up 3.6%.

Despite the signs of détente in the international arena, the traditional demand remains strong ” safe harbors “for the investment of capital: gold rises to $ 1,321 per ounce (+ 0.7%).

The yield of the ten-year Bund remains close to historical low at -0.11%. Retrieve our BTP with the performance that goes down to 1.36%, from 1.40% yesterday. The biggest gains relate to the banks, the sector that has suffered the most in the two days of tremendous decline that followed the referendum in Britain. The European salt industry index by 2.7%.

Unicredit is up 4% to 1.97 euro, modest rebound after three consecutive days of strong decline (-31%). Tomorrow, 40 days after the resignation announced by CEO Federico Ghizzoni could be some news on the substitute selection process: meets in the day the nominations committee. An agreement on the name of the members of the committee, would pave the way for the appointment by the Board on 11 July.

This is highlighted even Mediobanca + 5.2%, Banco Popolare + 4.6% and + 3.6% Pop.Milano. The Euro Stoxx Insurance index rises 2.4% today. Also advances General + 3.8%. The CEO Philippe Donnet has acquired 200,000 shares of the company for a total of 2.233 million euro between 24 and 27 June. Stands out among the numerous day hikes the rally of Telecom Italy + 4.7% in the wake of the rise of the whole telecoms sector in Europe (Stoxx + 2.5%).

Great interest in Snam + 2.8%. The company has approved the separation of Italgas controlled through the partial and proportional demerger. Italgas, a company that deals with the secondary distribution of gas, will be listed on the Milan by the end of 2016. Shareholders Snam will be assigned an action of the new company Snam Italgas every five shares held. When finished, presumably by 31 December 2016, Snam will retain a stake of 13.5%, compared to the 100% held today, CDP Networks will have 25,08% and CDP Gas 0.97%. Enel also positive that rises by 2%, Terna and A2A + 1.2% + 1.9%.
               

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