Tuesday, February 7, 2017

Btp-Bund spread close up 200,2 basis points – The NINETEENTH Century

The spread between Btp and Bund accelerates on the end, and closes up to 200,2 basis points, the the highest since February 2014, from 199 of the closure yesterday. the yield on The ten-year Italian is equal to 2.35%.

the differential between The securities in 10-year France and Germany, ends at 76 basis points (rate Oat 1,10%) and that between the ten year Spanish and German 140,5 (rate government bonds to 1.75%). The gap between Italy and Spain amounted to eur 59.7 basis points.

The spread Btp-Bund in 200 points: this is the first time in February 2014

On the topic of spreads is also addressed by Pier Carlo Padoan, minister of economi: “The vicissitudes of the market these days and these hours, remind us a bit annoyed that in a Country with a high debt is not can not take care of his descent”. Start light for the european stock Exchanges, which continue to travel the road of decline taking yesterday. In most today, the main concern is the German industrial production, which in December showed a decline of 3% compared to November.

Overseas, you await the moves of the president of the Usa, Donald Trump, on the subject of tax relief and deregulation. On the first bars of Milan, which yesterday had been the worst performance, is volatile: after a start in mild decline is slightly above the parity, and then is passed in positive territory with a +0.4% for the Ftse Mib index. The eyes continue to be focused on Unicredit (-0,1%), with the titles, a prey to nervousness in the second day of the operation on the capital by eur 13 billion, the largest in the history of Borsa Italiana. Yesterday, the shares of Piazza Gae Aulenti have lost 6,87%, and the rights of the 18,85%. The combined action-law closed down 12.8% compared to Friday.

The guard continues to remain high Intesa Sanpaolo (-0,46%) and General (inv), while investors are wondering about the moves of the institute led by Carlo Messina, who in recent days has confirmed the interest in the first insurer in Italian. Telecom Italia rises 0.6% after rising yesterday, the day in which the leaders of the company have presented to the financial community the accounts of the 2016 and the guidelines of the industrial plan to 2019, which provides for the improvement of the revenue and ebitda and a debt under control, despite the fact they had been made to the budget investments in Italy to € 11 billion. Fca, after being slipped into the auction of volatilia', it yields 1%. On the foreign exchange market, the euro continues to weaken: it is brought to 1,0685 dollars (yesterday 1,0735 dollars) and 119,74 yen (120,59), while the ratio of dollar/yen stood at an altitude 112,05 (112,35). The price of oil is stable: the Wti contract for delivery i n April stood at € 53,68 dollars per barrel, in the fractional increase of 0,09%.

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