Piazza Affari opens the week badly. The Ftse Mib closed near the lows of the day and stands out as one of the worst European indices today, scoring -1.11% at 25,227 points.
Today in Piazza Affari the banks are in trouble, with drops in the order of 3.09% for Unicredit, -3.18% for Bper and 2.35 %% for Intesa Sanpaolo. Over the weekend, the CEO of Intesa, Carlo Messina, advocated further concentrations to create at least three poles “.
Banco BPM was also bad (-2.82%) after the bank redefined the agreements in the bancassurance sector of the JV Bipiemme Vita, 81% owned by Covéa. The redefinition of the agreement provides for a call in favor of Banco BPM for the acquisition of 100% of the JV in the period between 8 September 2021 and 31 December 2023. In the event of non-exercise, the partnership may continue until the end of 2028.
Difficult day also for oil stocks: over -2% for ENI, -3.31% Tenaris and -2.65% Saipem.
Pirelli is in the spotlight today (-1.12%) in the wake of the rumors of reorganization of Camfin. According to Il Sole 24 Ore, Longmarch (a company of the Chinese Niu family – historic industrial partner of Pirelli and more recently also financial partner of Camfin) will become a 30% shareholder in Camfin by October. As a consequence, Camfin will increase its stake in Pirelli from 10% to 14%, while Longmarch will have a stake in Camfin similar to that of Tronchetti Provera which will in any case continue to exercise control thanks to the greater voting rights attributed to class A shareholders.