european stock Exchanges is still uncertain (here, the trend of the main indices after the weakness yesterday, in a session that promises to be free of the particular ideas given the climate of the holiday.
In the FTSE MIB in milan is under the spotlight in the Bank Mps on the eve of the meeting of the board of directors and during the roadshow of the to.d. Marco Morelli, to present to investors the business plan and the capital increase of the institute. Shortly before the opening of the Bag, meanwhile, came in the back-step of the former banker and former minister Corrado Passera, who has withdrawn his alternative proposal for the revival of the bank.
Well, Telecom Italia, after the publication of the quarterly of the brazilian subsidiary and the increase in the target price by analysts at Macquarie. Light instead of Unipolsai, StMicroelectronics.
The withdrawal of Plaice from the game Mps: “there are conditions”
the Mps the pink jersey, all the while continuing the roadshow Morelli
As for the Mps, Corrado Passera announced that it had withdrawn its proposal as a “consequence of the attitude of closure of the explicit of the bank.” With a letter sent to the board of directors and the board of statutory auditors of Mps Flounder has communicated the decision to withdraw its proposal. “Three weeks from the meeting still was not able to start any depth – writes Plaice in the letter – ours was a serious proposal of a reorganisation and re-launch, which would have given a central role to existing shareholders. We have been denied the minimum conditions to proceed.” Passera has explained that his “primary investors that had expressed interest the official already for 2 billion”. The bank’s shares are still under the spotlight during the road show of the to.d. Marco Morelli, to present the new industrial plan and try to arouse the interest of the investors in respect of the capital increase from 5 billion. Tomorro w is later in the calendar, a meeting of the board of directors of Mps (which Morelli will be connected in videoconference) for the approval of reports to the assembly, which could also provide the opportunity for an update on the progress
the roadshow.
Good Telecom after the accounts of Brazil, to perform on the St
the In Piazza Affari Telecom Italia is primarily supported by a report of Macquarie, which has confirmed the recommendation to “outperform” and raised the target price to € 0.93. In view of the quarterly that will be approved
Friday, Macquarie expects “a gradual improvement sequentially in the trend of loss of lines”. The estimate of the analysts is of 120 thousand lines lost against the 134mila of the second quarter, compared to 40 thousand new contracts for broadband. Macquarie also provides a new growth of the gross operating profit for the home, especially thanks to cost-cutting. The experts then raised by 8% the estimates of useful 2016, and between 10% and 13% for subsequent years, explaining that “two-thirds of the corrections arise from the improvement of exchange rates, while the remaining third comes from the margins home more consistent and cut costs”. In the Italian night, in the meantime, have been disclosed in the accoun ts of the subsidiary brazil’s Tim Participacoes has filed the third quarter, a decrease of 48% of the net profit of 184 million reais, a figure higher than analysts ‘ expectations. The Ebitda amounted to 1.27 billion, a decrease of 18% on the same
the hamlet of 2015, while gross revenues totalled 5,62 billion, with a fall of 9.6%.
On the Ftse Mib milan the perform strike instead of St, which in the last three sessions, it had gained more than 20% in the wake of the presentation of the quarterly. Light rain also Cnh Industrial Recordati, while highlights Mediobanca, Enele Brembo.
In the rest of Europe, Lvmh brings to light in Paris, while London stands out Shell thanks to the return to profit in the third quarter. The oil company, has announced profits of $ 1.4 billion, but said that he was still worried about the current low oil prices.
Euro strengthening, go down the yen. In an uncertain oil
Tokyo-stable (+0,1%). BoJ cuts outlook on growth and prices
On the foreign exchange market, the euro, strengthening to 1,1015 dollars (1,0981 yesterday’s close). Weak the yen, after the central Bank of japan has revised once again to the downside the outlook on price developments. The yen is shown to the 115,57 for a euro (115,10) and 104,91 for a dollar (104,82).
Bucked the trend in the price of oil after the declines of the past: the future December Wti marks -0,47% to 46,64 dollars per barrel, while the delivery in January on the Brent is +0,27% 48,74 dollars.
Spread BTp-Bund is stable at 151 basis points
Just moved the bond market. The spread between the BTp ten-year Italian and the same expiry date, the German moves to the start of the day, to 151 basis points, unchanged on the values of the closure of the eve. The yield on ten-year Italian continues to climb and leads to 1,70% from 1,68% in the final yesterday.
(Il Sole 24 Ore Radiocor Plus)
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