Closing weak for the european stock Exchanges (follow here the trend of the indexes), with activity reduced to a minimum in view of the christmas festivities and the end of the year. The european central Bank, in its monthly Bulletin, has indicated that in the Old Continent continues the expansion of the economy, even if at a moderate pace. Inflation is bottoming (+0,6% in November after +0.5% in October and +0,4% in September), but more due to the trend of crude oil. For the Eurotower, instead, “there are still signs of an upward trend in core inflation”. So the extension of the programme of purchases by the institution is essential to the achievement of the objective of an inflation rate cl ose but below 2% in the medium term. In the united States-arrived data to the lights and the shadows, even if the gdp of the third quarter grew at a much faster pace than initially planned, i.e. by 3.5%, revised upwards from +3.2 percent. Milan ended the trading down by 0,49%.
At Piazza Affari Mediaset (12.4%) and Banca Mps (-7,48%) have continued to attract the attention.
Mediaset shift to reverse, down also Telecom
The securities of the Biscione were suddenly debunked, after having scored a sprint in the 70% from the 12 December to yesterday. The market speculates on the moves of Fininvest and Vivendi. “Fininvest may not buy, Vivendi, perhaps, has already arrived to the desired threshold of around 30%, while the market began to fear that I will launch a takeover bid, so investors bring home the gains made in a few days”, explained a trader . In fact, in the evening, it emerged that Vivendi is up to 28.8% of the share capital and 29,94% of the rights to vote. Meanwhile, the Consob has today convened for the vertices of the Mediaset and tomorrow, will see those of Vivendi. The Commission of supervision of markets, in addition to assessing the correctness of the modus operandi of the French company, will have to check also the relationships that run between the same Fininvest and Vivendi: any agreements or understandings could result in the obligation to launch a takeover bid on the part of the two groups.
Also, the Nra has started an investigation to ascertain whether Telecom Italia, which has a market share of more than 40% of the tlc sector can also check a company (Mediaset), which has a share of over 10% integrated communications system, also through subsidiaries or affiliates. The actions of the telephone company have left on the parterre 2.2%, after the good performance of the last few days.
Mps, here is the Treasury’s plan in three steps
For Banca Mps looming state operation
The actions of the Bank Mpssono instead go on the roller coaster, closing in the fall of 7.48%. Waiting to understand the results of the capital increase, the market is already betting on an intervention by the state to secure the institute. Late yesterday it emerged that from the conversion of the subordinated bonds, the Rocca Salimbeni managed to collect 2.4 billion euros. Level higher than expected, but that makes it necessary for a recapitalisation to over 2 billion euros. As it is also the anchor investor are now coming out of the radar, it is increasingly likely that the bank’s top management, gathered in the board of directors, are forced to haul down the white flag and ask the public intervention. Just yesterday the Parliament has approved the draft to create a so-called rescue fund to banks by € 20 billion.
Well the banks, which are under observation Bper
On the front of the banks, which have been popular Bpm (+2,6%) and Banco Popolare(+2,45%). They also go well with the Bper (+2,2%), while the market speculates on the future of the group, after the move of the Unipol (+2,4%) to detect the 5% of the share capital. The move, as reported by The Sun 24 Hours, should be framed in view of the strengthening of the partnership in bancassurance. “We believe it is probable that an investment of the kind (approximately 125 million), is a prerequisite for any negotiation that includes the Unipol Banca”, commented the analysts of Equita. In addition it could be closer to the bank of emilia the acquisition of the 4 banks that were born from the resolution of the Banca Marche, Banca Etruria, CariChieti, and CariFerrara, especially after the president, mr. Roberto Nicastro, has announced the cutting of 400 employees of Carife, one of the four so-called 'good bank'. Ther e are also also up leUnicredit(+0,6%), despite the bank led by Jean Pierre Mustier at the beginning of 2017 will be confronted with an operation on the share capital by eur 13 billion.
Saipem on the rise after successful underwater robot
And yet, you are also put in evidence the Saipem (+2,69%), in a positive context for all the oil sector. Yesterday, the company has stated that it has successfully completed sea trials of its new robots used in the oil fields, even at great depths in the sea. This is an excellent product that provides a competitive advantage to the company. In more today, it emerged that the azionistaEni (inv) has been selected for the award of two exploration blocks in the offshore area of Cyprus. The areas allocated have affinity to geological features with those being explored with success by Eni in the adjacent offshore of Egypt, through the discovery of super-giant gas Zohr.
Leonardo in reverse
they Have lost 0.6% of the shares of the Leonardo – Finmeccanica, partly as a consequence of rumors about a non-renewal of the mandate of the ad, Mauro Moretti, that will expire in the spring. According to rumors, the minister of defence, Roberta Pinotti, would share the project to sell to Airbus for 25% of MBDA.
Euro remains above 1,04
On the front of the exchange, the cross euro-dollar goes above the share of 1.04 (follow here the trend of the euro against the main currencies). Raises the head the price of crude oil: crude oil contract with delivery in February, earns the 0.8% 52,91 dollars a barrel, follow the progress here on the price of crude oil).
Usa: growth in the third quarter, better than expected subsidies to the maximum 6 months
Gdp Usa running longer than expected, but is waiting for a new braking
The american economy has grown more than expected in the third quarter: the Gdp was revised upwards to +3.5 percent from +3.2 percent. This is the third reading of the data. Given the worst-case expected instead is result to on the weekly benefits to unemployment with 21mila new requests to share 275mila, the highest since mid-June. In the fall, but less than expected, the orders for durable goods in November: -4,6% against expectations for a -4,8%. Net of voice transport, the increase is 0.5%. In addition, the inflation calculated on personal expenses (the index preferred by the Fed) last November, has remained at the stake on a monthly basis and climbed 1.4% on an annual basis, going worse than expected. And yet, in November consumption in the United States are grown for the third month in a row, but less than the forecast (+0,2% per month), while personal incomes have remained steadfast, even in this case, disappointing analysts. Finally, it is disappointing result the Superind ice calculated by the Conference Board, stood firm in November at 124.6 points, while analysts were expecting an increase of 0.1 per cent.
the Ecb continues on its economic recovery. Inflation soon more than 1%
The latest data “indicate the continuation of the growth trend in the fourth quarter of 2016″. Writes it to the Ecb in the economic Bulletin. In perspective, the governing Council “expects that economic growth will proceed at a moderate pace, but in the process of consolidation”. On the inflation front, the Ecb expects that increases in “still significantly at the turn of the year, reaching more than 1%”, because of statistical effects in the energy sector. In addition, the institute of Frankfurt stresses that the extension of the time horizon of the program to purchase government and private securities) of the Eurosystem, extended recently until December 2017 although at a pace reduced, “allows for a more sustained on the market, and then a transmission is more lasting than the stimulus measures of the Ecb”.
(Il Sole 24 Ore Radiocor Plus)
© Reproduction reserved
No comments:
Post a Comment