Italian Stock Exchange down: FTSE Mib -0.98%. Enel in sharp decline, purchases of CNH
Italian Stock Exchange down: FTSE Mib -0.98%. Enel in sharp decline, purchases of CNH.
European stock markets weak. In New York, near the end of the continental squares, the S & amp; P 500 rising by 0.8% approximately. The FTSE MIB index ended at -0.98%, FTSE Italy All-Share at -0.86%, FTSE Italy Mid Cap to -0.04%, the FTSE Italy Star to -0.00%.
The euro touched a new low against the dollar from April right next to the closure of European stock markets at 1.0623. There waiting for the appointment of 20:00, when it will be published the minutes of the last FOMC: they seek information to see if the Fed will raise rates in December or if you decide to put off to 2016. Meanwhile, Dennis Lockhart, Atlanta Fed President and FOMC member, He said in an interview to be in favor of a rate hike soon and that the increase will be somewhat slow.
European bond markets on the rise . The yield on ten-year BTP is down from the previous close to 5 bp to 1.52%, that of Bund yields 3 basis points to 0.51%. The spread is therefore a decrease of 2 basis points to 101 (source: MTS).
As for the macroeconomic data published during the day in the US point out that the National Association of Realtors reported that the housing starts fell in October rising from 1,191,000 units ‘to 1060 thousand units’. The figure ‘well below the expectations of analysts who had expected a value of 1.16 million units’. Increase instead Building permits rose to 1.15 million units’ from 1105000 units’ (consensus 1.15 million units’). The EIA (Energy Information Administration) announced that, in the week ending November 13th, oil inventories in the US rose by 252,000 barrels. Analysts’ estimates were fixed on an increase of 1.9 million barrels. In the previous week the crude oil inventories had increased by 4.224 million barrels.
Enel (-2.99%) and Enel Green Power (-3.44%) in negative protagonists of the session ok after the plan for the integration of EGP in Enel and, above all, the presentation of the strategic plan 2016-2019 of Enel. During the period provided an average annual rate of growth in recurring EBITDA of 4% about (with worsening of the estimate of 2016 and 2017 than indicated in March), and approximately 10% of net income ordinary. Updated efficiency targets, aiming for savings of 1.8 billion euro during the period from 2014 to 2019. Reducing the time needed to create and increase in EBITDA of 2.7 billion euro investment for growth to support industrial growth, with the aim of generating an overall increase in EBITDA growth from 6.7 to 7.2 billion euro over the period 2015-2019. Dividend policy confirmed: payment of a minimum dividend per share of EUR 0.16 for 2015 and 0.18 euro for 2016; expected payout of 65% in 2018.
Weak UniCredit (-1.87%): Reuters, reporting as revealed from two sources familiar with the matter, writes that after Intesa Sanpaolo also UniCredit and Generali have decided to reduce their stakes in Bank of Italy UniCredit would yield 3.2% (was 22%) for about 240 million euro, while Generali has dropped to about 5.5% giving 0.86% to 60 million. Yesterday Intesa Sanpaolo, which owned 42.3%, announced that it has signed preliminary contracts for the sale of a stake amounted to about 5.7% of the share capital of the Bank of Italy, for a total of about 430 million euro.
red BPER (-1.97%) and Soul Holding (-1.48%). Alessandro Vandelli, A.D. BP Emilia Romagna, has confirmed that the sale of the subsidiary Arca Sgr there are three bids, two by US funds and by Anima Holding. The operation, he added Vandelli, will be discussed next week.
Weak RCS MediaGroup (-2.65%). The creditor banks are on hold, with confidence, the new business plan which the neo to Laura Cioli is working to present, as announced, by 22 December.
CNH Industrial (+ 3.63% at 6.28 euro) accelerates upward and exceeds the ‘ obstacle to 6.12 euro by completing the double bottom formed in the last 2/3 sessions. Next targets at 6.35 / 6.40 and 6.60 / 6.65.
Strong rise to Sol (+ 5.14%). The title of the industrial gas producer benefits from the operation of M & A that features the rivals Air Liquide and Airgas. The French giant has announced the acquisition of the US group for 13.4 billion dollars.
Intermobiliare Bank (+ 3.62%) in net progress in the aftermath of the resignation effective immediately Alessandro Vardanega, vice president and board member of the parent company Veneto Banca. At the end of last week Veneto Banca BSI has granted an extension of the exclusivity period for a further two weeks as part of the competitive process of enhancement of the subsidiary. Possible that traders are speculating on the assumption of the link between the resignation of Vardanega and sale of BIM.
Soft Strategy (+ 10.57% at 2.70 euro) leaps forward after the shareholder Antonio Marchese, owner of 59.74% of the share capital, announced a mandatory tender offer on 40.26% of the ordinary shares at 2.71 euro per share or, alternatively chosen by the member , number 2.71 shares Industrial Holding. It is noted that the offer may find adherence to the maximum for 10.45%, given that shareholders Roberto Provenzano Fabio Storri and Methorios Capital have taken against Antonio Marchese commitment not to accept the offer for 26, 20% and that its own shares, equal to 3.61% will not be tendered.
(Simone Ferradini)
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