Italian Morning Sight
Italian Morning Sight 07 September 2015 Equity Research +39 02 4344 - 4389 Institutional Sales - 5101 Relative Value - 4788 Equity Derivatives - 5451 Investment Research Stock Exchanges 4 Sep 15 Last %Chg %YtD Min YtD Max YtD Technical Analysis FTSE Italy All-Share 23,072 -2.97 14.57 19,270 25,684 DJ STOXX: Daily relative performance by sector FTSE MIB 21,473 -3.18 12.94 18,123 24,031 FTSE Italy Star 23,771 -1.06 27.39 18,482 26,520 Comit 1,200.4 -1.56 15.62 1,002.9 1,323.7 Stoxx 600 353.11 -2.52 3.09 331.62 414.06 EuroStoxx 50 3,180.2 -2.75 1.08 3,007.9 3,828.8 Dow Jones Industrials 16,102 -1.66 -9.65 15,666 18,312 Nasdaq Comp 4,684 -1.05 -1.10 4,506 5,219 Nikkei 225 17,792 -2.15 1.96 16,796 20,868 Other Market Indicators 4 Sep 15 Last %Chg %YtD Min YtD Max YtD EUR/USD 1.1116 0.17 -8.14 1.0522 1.2031 USD/YEN 119.19 -0.91 -0.59 116.87 125.65 London Brent Crude Oil Index U$/BBL 50.37 2.54 -12.14 42.81 67.95 10 Yrs Bund Futures 154.89 0.58 -0.63 148.98 160.36 Source: Datastream Recommendation and target price changes Banca Carige: TP EUR 2.20 from EUR 2.30 Trevi: TP EUR 1.50 from 1.90 News Banca Carige (Buy) A restructuring story with M&A appeal Enel (Accumulate) Going-on Fiat Chrysler Automobiles (Buy) FCA likely to wait until 2016 before moving on GM Telecom Italia (Accumulate) New rumours on savings' conversion Trevi (Neutral) Feedback from H1 presentation: challenging guidance UniCredit (Neutral) Interview with Mr Ghizzoni in La Repubblica All ESN research is available on Bloomberg: “ESNR” <go> Italian Morning Sight 07 September 2015 Banca Carige Italy/Banks BANKS Banca Carige (Buy) A restructuring story with M&A appeal Buy A restructuring story with M&A appeal Recommendation unchanged Share price: EUR 1.63 The facts: We are publishing this morning a company update on Banca Carige.
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