Piazza Affari rises decisively at the beginning of the eighth. The Ftse Mib closed at 27,688 (+ 0.52%) after hitting an intraday top of 27,705 points. In the absence of the Wall Street compass, closed today for Martin Luther King Day, investors are looking at China’s moves. 2021 GDP marked + 8.1%, beyond the growth target set by the Beijing government, equal to an expansion of 6%, and beyond the forecasts of various economists, however, highlighting a slowdown in Chinese GDP in the fourth quarter. The People’s Bank of China has thus cut the reference rates on its medium-term loans to 2.85%, for the first time since April 2020, or in almost two years, to try to cope with the slowdown in the economy .
Among the big, convinced upward movement for Moncler (+ 1.55%), as well as STM (+ 1.5%). Stellantis (+ 0.87% at € 19.14) today reached new all-time highs. The latest rumors see Elkann and CEO Tavares speaking Wednesday on the occasion of the 1st anniversary of the group’s birth. The focus of the two top managers should be on 2021 performance.
The best stock of the day at the moment is Tenaris with + 2.39% at € 10.505 which was promoted today to outperform by Mediobanca Securities. The analysts of the merchant bank in Piazzetta Cuccia today indicated their top piks for 2022 and the names of UniCredit, Poste Italiane, Enel, Prysmian, Stellantis and MFE (formerly Mediaset) stand out.
On the rise Generali (+ 0.76% to 18.55 euros) with the latest rumors that Del Vecchio and Caltagirone sponsor the name of Matteo Del Fante as the next CEO of the Lion of Trieste. Meanwhile, after Caltagirone’s resignation, the board of the Lion of Trieste also sees Romolo Bardin (ad Delfin) leave.
The worst performer of the day was TIM with over -3% thanks to the rejection by Exane Bnp Paribas (rating down to underperform) and the new rumors on the plan and on the response times to KKR’s offer. As reported by Il Sole 24 Ore, evaluations are still underway to define the perimeter of activities, personnel and debt to be conferred and to understand the risks of Brussels’ stop on the single network. Telecom may wait for approval of the plan on March 2 before responding to KKR regarding due diligence, deeming it inappropriate to open the data room before the 2021 results and plan are approved.