The european central Bank has given the charge to Bags continental (watch here indexes), and even Wall Street has closed again in positive territory. The central institute has confirmed asset purchases at the rate of 80 billion a month until march 2017 and has additionally announced a further manoeuvre of ‘quantitative easing’ until December of next year even if with purchases of less than and equal to 60 billion per month. The Eurotower has, however, put the hands ahead: “If in the meantime, he indicated the Ecb – the prospects were to deteriorate or if the financial conditions were not more in line with a further progress towards an adjustment on a sustainable path of inflation, th e governing Council intends to increase the program in terms of volume and duration. Meanwhile, the Ecb has revised upwards its growth forecast for next year to 1.7% (from previous +1.6%), and also those on the development of prices, which in 2017 will mark a rise of 1.3% (from +1,2%). Milan has terminated the negotiations in progress of 1,64% (FTSE MIB).
Banks in the sprint, Bpm the best
In Piazza Affari have been requested the actions of the banks, which have celebrated the announcement that the Ecb will continue to buy assets until December 2017. They have over the actions of the popular, and in particular those of the Bpm (+10%) and Banco Popolare (+9,75%). Ubi Banca has risen on the wave of the hypothesis that the Ecb is about to give the ok to detect the 3 good bank of its interest (Banca Etruria, Cash Brands and CariChieti). Banca Mps has gained 4.1%, in the aftermath of the board of directors has asked for time till January 20 to complete the recapitalization. Il Sole 24 Ore argues that Saturday could be held a Council of ministers extraordinary to deliberate State intervention, in the case where the Eurotower decides not to grant time. Meanwhile, today the european commissioner for economic and monetary Affairs, Pierre Moscovici, has reassured that the same Eu Commission is “not afraid of a bankin g crisis in Italy”.
For Moscovici “the problems have not changed from last week: they have deteriorated or substandard. We have the opportunity in Europe to treat all of the situations banking”. After having several times changed the direction of travel, have ended up 2.98% of the Unicredit, in the day of the announcement of the sale of Bank Pekao. The operation by which the institute will collect 2.4 billion euros, even if the closing of the transaction expected in the first half of 2017. Salt meanwhile the wait for the presentation of the industrial plan on the calendar Tuesday. The number one of the institute, Jean Pierre Mustier, has ruled out the need for an intervention by the State.
Today, in addition, it has signed the sale of Bank Pekao for 2.4 billion euros. The operation will have a positive impact of about 55 basis points on the Cet1 ratio of the group as at 30 September 2016. Unicredit has sold in addition, the activities in poland of the Pioneer to 142 million euro. According to rumors, Monday, on the eve of the presentation of the plan, Mustier might also announcing the sale of Pioneer, which seems to be in pole position to Amundi, with a range from 3.2-3.4 billion euro. Always Monday, may be transferred 20 billion of Npls of the euro, in the view of Pimco, Cerberus and Fortress.
General under the lens, down Saipem and Triad
the General has claimed a rise of 4,58%, which is still on the wave of the hypothesis that the company is on the verge of yielding assets in France. In fact, it seems that there are ongoing contacts between the General and Allianz for the sale of Generali France, key assets of the business of the Lion, but the potential obstacle of Antitrust in the case of a big merger with Axa. Recently, however, a number of the company, Philippe Donnet, had declared that: “France is one of the three key pillars of the business of the General assembly in Italy and Germany. There we have other priorities, to relaunch growth, to increase the development. We are not sure leave the country”. The manager he flatly denied even the possibility of a merger with Axa. Meanwhile, Hsbc has revised upwards, to a 'Buy' recommendation on the General. Also Jefferies, while confirming the judgment of ‘Hold’, and raised the pric e target to 13.3 euros from the previous of 11.9 to 13.3 euro. Are instead go bad the Saipem (-1,94%), despite the rise of oil. Down the Triad (-2,1%) and Atlantia (down 0.4%), Recordati(-0,58%), and Snam rete Gas (-1%). Fiat Chrysler Automobiles has scored a rise of 1,98%.
Out of the basket the main, in the reverse Amplifon, eyes on Alerion
Outside of the basket main, Amplifon, has experienced a decline in the price of 5,99%, the worst of the milanese listing. The securities have been affected by the news that the Food & Drug Administration (Fda), the organ of american control over the drugs, has launched a series of initiatives that are focused on simplifying the purchase of hearing aids. In short, Overseas sector should be the subject of a certain liberalization, which could penalise the Italian group. Alerion is the ascent of 2.58%, taking the advantage of the proposed new bids for control of the company, currently disputed by the roped Edison and F2i and the group provides, the Fri-El. Finally, Safilo Group has lost 0,37%, as a result of the decision of Banca IMI to cut from “Add” to “Hold”.
Day volatile for the changes and spreads, oil above 50 dollars
On the foreign exchange, the euro has recorded a trend of the volatile, on the day of the Ecb (follow here the trend of the euro against the major currencies), arriving first to surpass 1,08 on the dollar and then do the reverse. It was a busy day for the spread ” on the end of the closed in area 147 points, a decrease on the values of eve. A slight rise and finally the oil price, with the Wti, which remains above the threshold of 50 dollars per barrel.
Ecb’s extension of Qe at the end of 2017. Reduced purchases to 60 billion monthly
Qe extended but the volume of purchases goes down
The Ecb has decided to confirm the Quantitative easing, the program of purchase of government and private securities in the Eurozone, up to march 2017, its original maturity date, the current volume of 80 billion per month, and has announced an extension of the same program from April to December 2017 (and beyond, if necessary”) a reduced volume of 60 billion per month. “If in the meantime, he indicated the Ecb – the prospects were to deteriorate or if the financial conditions were not more in line with a further progress towards an adjustment on a sustainable path of inflation, the governing Council intends to increase the program in terms of volume and duration. Net purchases of securities will be implemented together with the reinvestment of capital by those already purchased and in maturity”. Moreover, the Ecb has decided to modify some of the parameters of the plan, which will be announced in the press conference.
Dragons, confident that Italy will know what to do about the banks
revised upwards the outlook for the economy and inflation in the euro area
The Ecb has revised upwards the outlook for the economy in 2017, and has also certified that the recovery in the Eurozone “is in some way reinforcing”, as stated by Dragons , which, however, has pointed out that there is still a need to be “maintained the high level of settlement money”. For the banker the growth of the economy should be continued also in the fourth quarter. The number one of the Eurotower has announced that have been revised upwards their estimates for growth in 2017, up from 1.6% expected in September, by 1.7%. The growth to 2018 has been confirmed at 1.6% while that for 2019 (the first estimate) is fixed to 1.6%. Confirmed, finally, to 1.7% for this year. Even the prospects for inflation have improved: next year the price index will record a progress of 1.3% instead of 1.2% as previously indicated.
However, the estimate for 2018 has been lowered marginally to 1.5% from 1.6%. while the first estimate for 2019 has been set at 1.7%, close therefore to the objective of a rate close but below 2% in the medium term. The estimate for this year, finally, remains at 0.2%.
In-the-Usa weekly benefits fell less than expected
In the United States, it was announced that the initial claims for unemployment fell by 10 thousand units to 258thousand, against the 268mila of the previous week. The figure stands on average below the level of 300 thousand to 92 weeks, the series best since the 1970′s. The index is still worse than expected: analysts had been awaiting a given decline in 255mila requests.
the (Il Sole 24 Ore Radiocor Plus)
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