Piazza Affari in decline: the Ftse Mib index -0,75%. Strong sales on bank – Printing

Piazza Affari in decline: the Ftse Mib index -0,75%. Strong sales on the bank

Piazza Affari in decline: the Ftse Mib index -0,75%. Strong sales on the bank.

The Ftse Mib index marks -0,75%, the Ftse Italy All-Share -0,70%, the Ftse Italy Mid Cap -0,35%, the Ftse Italy Star -0,57%.

european equity Markets positive and the DAX BY 0.1%, CAC 40 UP 0.3%, FTSE 100 UP 0.6%, IBEX 35 +0,9%.

a Few minutes after the opening of Wall Street: S&P500 +0.2% For the Nasdaq Composite Up 0.1%, the Dow Jones Industrial +0,1%.

Euro always on the defensive against the dollar, oscillates just above the minimum by the end of 2015 to 1,0666. EUR/USD is currently trading at 1,07 about. the Janet Yellen, president of the Federal Reserve, in a brief speech prior to the Hearing at the Us Congress (in the programme to 16 Italian time) said that a rate hike could occur relatively soon if the macroeconomic data will continue to show progress. To Yellen the job market and the american economy still have room for improvement.

bond Markets, the eurozone, uncertain, weak, ETC. The yield on the ten-year Bund falls 2 bp to 0.30%, that of the BTP salt of 6 bp at 2,09% (+2 bp for the Bono Spanish to 1,57%). Spread salt 8 bp to 179.

Bank of Italy in strong decline: the FTSE Italy Banks marked down by 3.4%, the EURO STOXX Banks -1%. Under pressure Banco Popolare (-6%), BP Milano (-5,8%), BPER (-5%).

In difficulty UniCredit (4.1%) and in the wake of rumors of the Sun 24 Hours, according to which the bank posted net provisions on impaired loans amounting to 7-8 billion euro, and then point to an increase in capital by eur 13 billion (the upper part of the assumptions made recently), including the possible voluntary conversion of some bonds. The provisions envisaged would result in an increase of coverage on the suffering of the 75% and the failure likely 40%: these are parameters aggressive that if applied to all the Italian banks could create the need for additional coverage at the system level.

Weak Mediobanca (-2,5%) which has approved the guidelines of the Plan 2016/19 that sees the final strategic repositioning of the Group’s banking specialist, high profitability, with operating profit from these last to the end of the period to €1.0 bn (CAGR three-year +10%) and priority development of the new division Wealth Management (intake estimated at 40% of the boards of the group). Planned budget € 1 billion for acquisitions in the three-year period.

give in to the sales of Banca MPS (by 2.4%) after the good start, and the favourite-as reported by the Corriere della Sera, that the ten investors were admitted to the data room (in-depth analysis of the data of the bank) to assess the possible intervention in the recapitalisation of the Rocca Salimbeni. Among these is the Qatar Investment Authority and the groups that USE Atlas, Apollo and Soros. It is noted that the listing of the bonds subject to September 2020, coupon of 5.6%, has fallen below the level prior to the announcement of the buyback operation.

red General (-3,1%): Alberto Nagel,.d. Mediobanca, said that below 10% of the General “is an option that we always have in the measure in which we create a positive impact.” In the plan 2016-2019 Piazzetta Cuccia approved yesterday contains the forecast of the sale of a 3% General down to 10%. Currently, Mediobanca is the largest shareholder of General with the 13,465%.

The dollar consolidated its strength: positive performance for Buzzi Unicem (+1,7%), Campari (+0.8%) and among the securities of the luxury sector with Tod’s (+2,1%), Luxottica (+1%), Safilo Group (+3,1%).

Very good De’longhi (+6,6% 20,73 eur) to take a report of UBS: improved recommendation on the stock from hold to buy, raised target from 23 to 26 euros.

Net progress for Beni Stabili (+4%) after the announcement of the forthcoming establishment of the greater SICAF Italian real estate, which the group will present the portfolio leased to Telecom Italia (more than 1.5 billion euro on the basis of the appraisal value at the end of June 2016), together with the related debt (eur 810 million). Beni Stabili will keep 60% of the share capital of the new vehicle, while Credit Agricole and EDF-Invest (EDF Group), will acquire each 20% of the SICAF.

with regard To the remaining appointments macroeconomic calendar today, we in the USA at 16:00 waiting for the hearing of Janet Yellen (Fed) to the U.S. Congress.

(Simone Ferradini)