Piazza Affari rises after the negative start of the week. At the end of the session, the Ftse Mib index scored + 0.67% at 27,535 points. The rise in bond yields (yesterday the 10-year US Treasury jumped to its highs since the beginning of 2020) on the market is holding the spotlight on fears that the Fed will act more decisively on rates during the year (Goldman Sachs estimates 4 hikes ). Jerome Powell said today that the Fed will use all tools to support the economy and the robust labor market and to prevent higher inflation from becoming entrenched.
On the parterre of Piazza Affari the spotlight today is on Bper (+ 0.73% to 1.93 euros) after Fitd, the interbank deposit protection fund, the largest shareholder of Carige with an 80% stake, has chosen the offer of Bper among those arrived on his table.
Assets under management are doing well today with over + 2% for Azimut and Banca Generali. Fineco also rose significantly (+ 2.07% to € 15.51) which reported the highest net inflows of the year in December, exceeding € 1.4 billion. Total net inflows in 2021 rose to € 10.7 billion (+ 15% compared to € 9.3 billion in 2020), higher than Equita’s estimates for 2021 which were € 9.25 billion.
Saipem also rose significantly (+ 2.79%), which was awarded two new offshore contracts in Australia and Guyana for 1.1 billion dollars. But the best of the day was Atlantia with over + 3.5%. Today Equita raised its recommendation on Atlantia to buy thanks to its dividend and buyback policy.
Finally, among the banks, Unicredit underperformed (-1.1% at € 14.06) which yesterday was at the center of a rumor coming from Switzerland about the possibility of a merger with Credit Suisse.