Bags cautious. Fly Parmalat with the Opa, the French, the weak banks – The Republic

MILAN - 12:00. There is still an episode of the French to warm up Piazza Affari: after the blitz of Vivendi, led by Vincent Bolloré Telecom and Mediaset, or going further back in time the acquisition of Edison and Bulgarian, Lactalis announced a public tender offer on the 12,26% of the capital not yet owned Parmalat to 2.8 euros per share, aimed at the delisting of the Italian subsidiary. The price is a premium of 8.5% on the last close of the Stock exchange, and the title brings above the figure bid (follow): the disbursement total will be over 600 million for a complete adhesion.

Milan is meanwhile, in cautious rise, with the Ftse Mib up 0.1%. To hold the counter there are always the vicissitudes of the Monte dei Paschi (it was suspended by the exchanges sine die), for which the Ecb has set at 8.8 billion the need for capital: the banking sector is in trouble, with Bpm and Banco Popolare weak even for the recent cut in the rating by Fitch. All eyes are then on Mediaset, still under the spotlight for the ascent of the Vivendi, that it is brought close to the threshold of the Opa, with almost 30% of the voting rights. Cautious other european stock Exchanges: Frankfurt salt 0.1%, Paris is unchanged while in the Uk markets remain closed for holidays. In general, the volumes are thin during the days of the end of the year.

euro: is stable on the dollar at an altitude 1,045 greenbacks and 122,56 yen. The spreads between the Btp ten-year and the corresponding German Bund is stable just below 160 basis points. The yield on Italian government bonds is to 1,82%.

In the morning Tokyo Stock exchange has closed a little move. The Nikkei index of 225 titles guide, registered a +0,03% and amounted to 19.403,06 points. Of note, the negative day of the Toshiba, that could be big write-downs linked to nuclear power. Light up the Shanghai Stock exchange, that at the end of the session marked a rise of 0.17%. On the macroeconomic front, Japan recorded growth of the indicator of confidence of small businesses, that rose-48.8 in December from 48.3 in November. Still down, however, consumer prices with a down 0.4% annually in November, while the unemployment rate of 3.1% remained on the minimum twenty years.

The oil rose above 55 dollars per barrel, in the expectation that the agreement to cut production among Opec and non-Opec to take effect starting Sunday. The index Brent crude rose 5 cents to 55,21 dollars a barrel in morning european, while the future u.s. Wti marks a level of 57,89 dollars the batile, the highest since July 2015. Also the prices ofgold are on the rise: the metal with immediate delivery, rises 0.4% to 1138 dollars an ounce.

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