Piazza Affari holds up well on the day of the strongest coupon detachment of 2021. In general, the markets, orphans of German and Swiss operators (closed for holidays), moved without particular ideas with the words of Lagarde last Friday who reassured about the continuation of the ECB’s ultra-accommodative monetary policy.
Today, as many as 18 securities of the Ftse Mib were detaching the coupon, with an impact on the leading index of the Milanese list in the order of 0.89%. The Ftse Mib index thus closed down at Ftse Mib, closing at 24,891 points (-0.34%), amortizing the dividend effect. Among the heaviest securities, Generali’s -4.3% should be noted precisely due to the detachment of the substantial coupon (1 euro per share). The same goes for Italgas (-4.59%) and Unipol (-3.25%).
The coupon detachment did not stop Bper (+ 4.29% to 2.08 euros) which accelerated in the second part of the day, still closing on the annual tops in the wake of the return to topicality of the possibility of marriage with Banco BPM (close a + 1.65%). According to KBW analysts for Banco BPM it would make more sense to merge with Bper than a deal with UniCredit and they estimate a potential increase in EPS of 54%. In the meantime, today Barclays took stock of the entire Italian banking sector, indicating Bper as the bank on which earnings per share were revised more upwards in the wake of the new guidance on the integration of the acquired branches.
Poste Italiane (+ 1.74%) and Fineco (+ 0.95%) are also up. A day without verve for Enel, which closed little move at € 8.159 (-0.35%). The stock of the Italian energy group ended up under the lens of Barclays which confirms the overweigt recommendation and the target price of € 10.1. Enel remains the vertically integrated utility preferred in southern Europe by the British company which estimates that around 76% of the new renewable capacity in the coming years will involve its key markets (Italy, the Iberian Peninsula, North and South America). thus strengthening the vertical integration of the group. “Although the stock trades at a discount to its competitors due to its exposure to Latin America, we expect the process of streamlining the corporate structure to lead to a reduction in its exposure to the region and a revaluation of the stock,” adds Barclays. .