Home » Borsa Milano closes eighth with a flourish, rally by Prysmian and Banco Bpm

Borsa Milano closes eighth with a flourish, rally by Prysmian and Banco Bpm

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Bullish sprint in the final of the week for the Milan Stock Exchange. The Ftse Mib index sent trading on file with a growth of approximately + 1.14% to 24,766.09 points, shortening the distance from the psychological threshold of 25 thousand points. Piazza Affari, like the other European stock exchanges, finds an edge from the easing of fears related to the leap in inflation. Investors seem to have taken the assurances that have come from a member of the Federal Reserve, Christopher Waller, who remarked that the central institution needs “many more months of data” before considering changes to its monetary policy. Beyond the issues related to inflation, in Piazza Affari the week was marked by the season of profits.

The star of the day was Prysmian (+ 4.5 %%) which continued the run of the eve triggered by the upward results of the first three months. “An encouraging start to the year, with a better than expected first quarter and confident of reaching the top of the guidance”, comment the Equita analysts who maintain the hold recommendation on Prysmian. The target price was instead revised upwards by 4% to 29 euros.

In the world of managed savings, on the other hand, Azimut stood out (+ 3.1%). Following the quarterly report, analysts sifted through the accounts that saw consolidated profit rise to 96.8 million, while consolidated revenues stood at 273.5 million. In particular, Equita raised Azimut’s target price by 3% to € 22.2 and confirmed the hold recommendation in light of “a very strong first quarter and above expectations, a confirmed 2021 guidance but increased visibility”.

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Banco BPM rose sharply (+ 3%) with the return of speculation on possible M&A scenarios. Unicredit (+ 2%) could make the first move by targeting the institute led by Giuseppe Castagna. Nexi also did well (+ 2.1%), which was already in evidence yesterday in the wake of quarterly results beyond expectations, and Interpump also sat in the front rows of the Ftse Mib (+ 3.2%) after the accounts with the title that brings together the historical tops. For the Emilian group, the first quarter closed with net sales of 375.6 million euros (+ 9.2%), an Ebitda of 91.5 million (+ 23%) and a net profit of 53.8 million (+ 61.5% compared to the first quarter of 2020). “Sales have reached and exceeded pre-pandemic levels. The vigorous recovery is still underway and will be fully expressed in the second quarter; recent acquisitions are growing showing their value. The profitability margins are the highest ever expressed ”, commented the president of Interpump, Fulvio Montipò.

It recovered ground after the drops recorded in the morning by Unipol (+ 0.1%) which reported a net profit of 361 million in the first quarter, confirming the objectives for the whole of 2021. On the bottom of the Milanese list Inwit which sold 3% , weakness for Atlantia (-0.2%) which closed the first quarter of 2021 with a net loss of 67 million euros.

Outside the main Datalogic rally basket (+ 15%). The better-than-expected quarterly results and the prospects for 2021 ignite the bullish fuse. In particular, the group closed the first quarter with revenues up 13.6% to 135.4 million euros, a net profit of 9 million and with an adjusted Ebitda tripled to 21.6 million compared to the first quarter of 2020. The Bologna-based company looks forward to the whole year with confidence, with growth forecasts for the year 2021 that remain positive and double-digit, in a range between 16% and 20% compared to 2020.

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