Home » today » Business » The European stock exchanges are taking their breath away after the records. Milan (-0.6%) suffers with a rise in spread to 104
The European stock exchanges are taking their breath away after the records. Milan (-0.6%) suffers with a rise in spread to 104
Piazza Affari closed down a session that was not very moving for the European stock exchanges. The FTSE MIB ended the falling trading by paying thespread effect and the rise in yields on bonds (the ten-year BTP reaches 0.75% with the spread at 104 basis points at the close), despite the successful outcome of the 7 billion auction on the Bots. Slightly up in Frankfurt on DAX 30, on the parity instead the CAC 40 in Paris, London down by 0.38%. After recent records, investors remain cautious in the face of uncertainty related to economic recovery without overheating in prices. And on this front, the news from China, where inflation has started to rise again, did not help. Attention remains high on government bond yields, in Europe and in particular in the USA. The last session of the week took her breath away after previous records and closed not far from parity.
Tod’s in rally after Ferragni joins the board of directors
At Piazza Affari the queen of the day was Tod’s. on the day when the fashion group announced the entry of the influencer Chiara Ferragni on the board of directors. The company, which yesterday closed with a capitalization of 945 million euros, is now worth almost 1,040 million with a “Ferragni effectTherefore quantifiable in almost 100 million euros. «We are sure that Chiara’s knowledge ofworld of young people, combined with the experience of the members of the board of directors – reads a note – can build a thought group dedicated to projects focused on solidarity with others, with a strong focus on the world of young people who, as never before, need to be heard”. Ferragni herself recently signed two licensing agreements with AeffeeMonnalisa, making the two stocks jump on the stock market.
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FTSE Mib stock market trend
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Prysmian and Telecom down, Nexi did well
On the Ftse Mib sales on Telecom Italia, while at the top of the list they are placed Buzzi Unicem, Amplifon e nexl, on the prospect of a recovery in consumption (and therefore in digital payments) in the wake of the expected reopening. Above parity instead Atlantia after yesterday the board of directors began examining the offer presented by CDP, Blackstone and Macquarie for 88% of Autostrade per l’Italia. The board then announced that it will analyze the proposal made by Acs, which values Aspi between 9 and 10 billion.
Saipem brakes, for BofA a rise in crude oil will not be enough
Among the largest capitalization stocks, Saipem it slows down after a report by Bank of America which judges the stock to be “underperform” in the context of a broader study on the oil services sector, which according to the US bank will reach its lowest point in the first quarter of 2021. According to BofA, Saipem it will hardly be able to solve its own knots with a rise in the price of crude oil or by pushing on the energy transition. At the same time, other Onshore E&C businesses are failing to sustain the debt. According to analysts, therefore, Saipem will eventually need additional capital to reduce the debt and continue with the restructuring, but for the moment it has sufficient liquidity to move forward unless the execution problems on the order book worsen.
Creval in the spotlight, the confrontation with Agricole heats up
Outside the main basket, the Credito Valtellinese, while the question and answer between the company and Credit Agricole Italia continues in view of the shareholders’ meeting of 19 April. The board of directors of the Valtellinese institute has given the green light to the publication of the proposal filed by the French shareholder, which asks to postpone the renewal of the board, on which the shareholders will be called to deliberate on 19 April, two days before the end of the takeover bid. However, the board underlined that “the application of the rules of good governance and the principles of fairness, as well as the interest of the bank, actually lead to the belief that it is not only fully legitimate, but also a duty that the bank intends to pursue with the maximum promptness to renew its corporate bodies in order to ensure the continuity and stability of the bank’s governance, with a view to sound and prudent management, as well as neutrality, without postponing said obligations and subordinating them to future, and as of today still uncertain , developments of a story, such as the takeover bid, which exclusively concerns the shareholding structure “.
