Daily Archives: June 7, 2012
The Treasury has today placed 2.074 million euros in three debt issues, in which the bond to ten years, has had to raise the interest to 6.121%, the highest this year.
The issue has covered the maximum amount provided, ranging between 1,000 and 2,000 million euros, and the demand of the entities has been very high of -6.841 million euros, bringing the coverage ratio was 3.4 times .
Despite the rebound in profitability, interest has had to pay Spain for its ten-year bond was lower than the secondary market, where the benchmark ten-year yield was 6.147%.
Of the 2,074 million euros posted today have been 637.94 three years with interest at 4.483%, 3.52% above the preceding, and other 825 to five years with a yield of 5.443%, also above the 4.368 above.
The remaining EUR 611.22 million were awarded to ten years with a yield of 6.121%, three tenths above the 5.778% that was placed debt to ten years in the last issue of this term in April.
The issuance of ten years has also been close to a point below the 7.09% that was placed debt to ten years in November, its highest level since 1997.
Among the factors that have allowed Spain to close its issue today with an acceptable increase in profitability is in first place, according to analysts clarify Saxo Bank, the fact that Germany seems ready to yield to the demands to accept a bailout banking without going through the state.
In particular, is under an agreement that would allow Spain to recapitalize the bank with the help of Europe.
The certainty that Spain will achieve European agreement to clean up its financial sector had an immediate effect on the sovereign debt market, where the risk premium of Spain, which measures the spread between ten-year Spanish bond and the German the same period is relaxing after the issuance of up 472 basis points.
At the close of the previous meeting, the risk premium of Spain reached 494 basis points.
The additional cost that investors demand for buying Spanish sovereign debt against the German and has a record in the two weeks preceding their highest level since the creation of the euro, 540 basis points after the Spanish bond were to go up 6.6%.
Minutes after the broadcast, the profitability of Spanish bond was reduced to 6.103%.
The eleventh day of strikes in mining, after a meeting at the ministry to which the unions have not responded, has started today in Asturias with various cuts of highway and roads, while continuing in two mine closures and camping in the middle Oviedo.
In the eastern region, Colunga, is cut the Cantabrian motorway (A-8) in both directions by a barricade set up the miners at 08.25 hours and 10.00 hours around has not been cleared.
In Llanes, also in the east, where today apparently have been mobilizing miners generally performed in the central area of Asturias, has been cut the AS-263 at kilometer 26.5 in both directions between 07.50 and 08.05 the hours, by demonstrators.
Protesters have also cut the N-634 at Km 299, 07.10 to 07.45 hours, reported the Government Office.
The A-66 (Gijón-Sevilla) has been cut at kilometer 34 on the way to Leon to be passed through a tree in the driveway at 0630 hours and fifteen minutes after it has cleared a lane and then the two.
SOMA-union sources have indicated that UGT continue the running of ten miners in the pits Candín and Santiago-carrying eleven nights, and now there for a second day, levels of support in the mine entrances, to 18.30.
CCOO has indicated that it will continue with camping in front of the Government Office that began Monday.
Both unions have said that their leaders will consider today a reorganization of the protests after the conclusion of the meeting in Madrid of a government meeting with employers Carbunión in which there was no union presence.
You are only allowed to enter one member from each union and union members, in protest, were chained to the door of ministry for several hours.
The Government today announced an initiative for entrepreneurs who have failed in their first attempt, “the sooner they can get rid of their charges” and re-start your project and approval of an investment fund of 40 million euros for entrepreneurs.
This was said today the Deputy Prime Minister, Soraya Saenz de Santamaria, at the opening of Spain Starup and Investor Summit, organized by the Instituto de Empresa (IE Business School) and as a meeting Infoempleo domestic investors, international and Spanish entrepreneurs .
Saenz de Santamaria has defended the need to “regulate in Spain a second chance” for entrepreneurs who have not succeeded in its first initiative by the economic situation – “and without his fault,” he said, could “get rid as soon as possible loads is the first attempt to continue their entrepreneurial spirit. ”
The vice president has no more detailed measure, which will form part of the law of entrepreneurs that is in preparation, and with which the government wants to put “a red carpet by the authorities” to build businesses.
In addition, the Executive will launch the Startup investement Spain Fund, an investment fund for entrepreneurs will be a joint funding investment of 40 million euros.
The Tokyo Stock Exchange closed today with a rise of 1.24 percent and chained three consecutive days of gains after the European Central Bank (ECB) announced unlimited liquidity through 2013, which reassured investors.
The benchmark Nikkei rose 106.19 points, or 1.24 percent, and was at 8639.72 points, while the Topix index, which groups all the values of the first section appreciated 12.19 points, or 1.70 percent, to 730.75 integers.
The areas of brokerage houses, mining and insurance were the main beneficiaries Tokyo ‘on the floor, while the fishing and forestry was the only sector that declined.
In today’s session investors were more optimistic after ECB President, the Italian Mario Draghi, announced yesterday that award unlimited liquidity at a fixed rate until early 2013, while he opened the door to new measures to support economic growth in the euro area.
In addition, during the afternoon the market was fueled by rumors that suggest that the president of the Federal Reserve, Ben Bernanke, announced in his arraignment this afternoon in additional steps in easing the world’s largest economy.
Despite the rise in the Nikkei today, investors do not expect the optimism last too long because the lack of concrete measures could bring out new fears of debt crisis in Europe.
“We can see that (the European and U.S. financial authorities) are trying to show their efforts, but there have been big decisions and big increases (in global markets) seem a little unreal,” said Ryuta Otsuka, an analyst at Toyo Securities, was quoted by Kyodo.
During the session, financial stocks posted strong gains as in the case of Nomura Holdings, which gained 3.8 percent, Daiwa Securities Group, which appreciated by 3.9 percent or bank Mizuho Financial Group, which closed up 2.5 percent.
Meanwhile, electronics manufacturers and export-oriented cars also benefited from the optimism with advances such as Canon or Nikon, which were seen both 3.4 percent.
Meanwhile, the textile Fast Retailing, parent of casual clothing brand Uniqulo continued his losing streak and lost 2 percent.
In the first section advanced 1,415 values, compared to 187 that gained ground and 64 that closed in tables.
Trading volume was 1,759.92 million shares, down from Tuesday’s 2,081.70 million.
The FCC group has claimed the 1,122 million euros for unpaid bills that kept several local corporations, announced today by the National Securities Market Commission (CNMV).
In this way the company has received the total amount expected charge of local government this year, while others remain outstanding 300 million euro of regional governments and other authorities, who expects to receive before June 30.
The autonomy bills could add those for other public bodies, such as associations, not included in the first two phases of Provider Payment Fund launched by the Government.
This is because not exhausted the total amount available from the Fund of 35,000 million euros, FCC explained in the statement.
The group has already explained that 79% of the amount owed the government was linked to the defaults for the environmental services provided by the group.
The CEO of the group, Falcones said last week that the goal was to use this capital to the “debt reduction” to place it at 4,500 million euros, compared to 6.964 million that was the end of first quarter.