The central institution has decided not to change interest rates. The strong declines of Saipem and Campari after the quarterly report stand out. On the other hand, STM is on the rise
The major indices of the Italian Stock Exchange have ended the session in positive territory following the ECB’s decisions on monetary policy. The central institute decided to do not change interest ratesconfirming the reference rate at 4.5%.
Il FTSEMib it closed up 0.29% at 27,508 points, after having fluctuated between a minimum of 27,078 points and a maximum of 27,586 points. The FTSE Italia All Share it gained 0.21%. Minus sign, however, for the FTSE Italia Mid Cap (-0.61%) and for the FTSE Italia Star (-0.32%). In the session of 26 October 2023, the value of trades rose to 2.43 billion euros, compared to 1.96 billion on Wednesday.
Il bitcoin it was brought back to 34,000 dollars (less than 32,500 euros).
Lo spread Btp-Bund it consolidated at 200 points, with the yield of the ten-year BTP which went above 4.85%.
L’euro it fell below $1.055.
Saipem it left 5.32% on the ground at 1.3355 euros. The engineering company has released the financial results for the first nine months of 2023, a period closed with an improvement in turnover and profitability; the final result came back positive. Consequently, management confirmed the financial targets for 2023. Furthermore, Saipem’s board of directors resolved to submit for approval to the shareholders’ meeting the proposal to authorize the convertibility into ordinary shares of the equity-linked bond loan of nominal amount of 500 million euros. Consequently, the proposed capital increase will also be submitted for approval, to serve the conversion of the bond loan.
Bad session too Campari (-6,78% a 10,31 euro). The company has released the financial data for the first nine months of 2023, a period closed with improving revenues and mixed profitability. Management confirmed guidance of stable adjusted EBIT margin on net sales in 2023 at an organic level.
Some ideas from the banking sector stocks.
Intesa Sanpaolo it gained 0.59% to 2.37 euros. The institute announced that the extraordinary tax calculated on the increase in the interest margin amounts to approximately 828 million euros. Consequently, the board of directors has resolved that it will propose to the meeting, when approving the 2023 financial statements and allocating the profit for the year and distributing the dividend to the shareholders, to allocate an amount equal to the non-distributable reserve to approximately 1.99 billion euros, corresponding to 2.5 times the amount of the tax relating to the parent company, equal to approximately 797 million.
Also in progress UniCredit (+1,47% a 22,825 euro). S&P Global improved the institution’s stand-alone credit profile, bringing it from “bbb” to “bbb+”, one step above Italy’s sovereign rating. UniCredit’s issuer credit rating remains linked to the rating of the Italian Republic at “BBB” level.
Better performance for the Monte dei Paschi di Siena (+2,6%).
Brilliant performance for STM (+4,97% 38,97 euro). The Italian-French group has communicated the financial results for the 3rd quarter of 2023, a period closed with an increase in revenues, better results than management estimates. The leaders of the Italian-French group also provided some financial estimates for the current quarter and for the whole of 2023.
Stellar it suffered a decline of 0.6% to 17.672 euros. The automotive giant has announced that it intends to invest approximately 1.5 billion euros to acquire a 20% stake in Leapmotor. The agreement also includes the establishment of Leapmotor International, a 51-49 joint venture led by Stellantis, with exclusive rights to export and sell, as well as manufacture, Leapmotor products outside the China region.
Timid rebound for CONNECTED (+0.95%) after the heavy correction suffered in the previous session.
2023-10-26 15:41:00
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