Piazza Affari files a positive session. At the end of trading, the Ftse Mib scores + 0.98% to 24,398.41 points on the day of the ECB. The ultra-expansionary monetary policy has been confirmed with interest rates at historic lows and net purchases under the 1.850 billion euro pandemic purchase program PEPP that will go on at least until the end of March 2022. The central bank noted that it expects that in this quarter, purchases under the PEPP continue at a significantly higher pace than in the first months of the year.
Good indications today from overseas. Indeed, the improvement in the US labor market continues with jobless claims falling to 547,000 last week, the lowest number since the start of the pandemic.
Among the blue chips of Piazza Affari, the Stm rally stands out with a rise of 2.1% close to 32 euros. In view of the accounts for the first quarter of 2021, which will be released on April 29, Banca Akros expects very strong numbers after STM has revised upwards its revenue forecasts for the current year and with the last one three times. review provided 2.5% more than the latest guidance in a favorable semiconductor market. Stm’s guidance for the first quarter of 2021 is very strong and implies a growth of 31% y / y (-9.5% q / q) to 2.93 billion dollars, with a gross margin of around 38, 5%.
Moncler also did very well (+ 2.2%), reaching € 53.5 close to the historic highs reached on February 19 (closing at € 53.32, intraday top at € 54.44). Today after the market close, the preliminary data for the first quarter of 2021 will arrive. The consensus indicates quarterly revenues of 361 million euros, up 19% at constant exchange rates compared to the first quarter of 2020. Retail should score 281 million, while wholesale 80 mln.
Best performer of the day is Nexi with + 5%. Among the big companies, Enel’s + 2.7% rose as well as the entire utility sector pending the details of the National Recovery and Resilience Plan drawn up by the Draghi government. The PNRR amounts to a total of 221.5 billion, of which 191.5 referable to the Recovery fund and 30 billion to the complementary fund. The draft of the plan shows that the green revolution and the ecological transition will have a dowry of 57 billion.
Finally, Poste Italiane will publish the accounts for the first quarter on 12 May. Barcalys today confirmed the overweight recommendation on the share with a target price of € 14, or approximately 32% above current levels. The British business house expects Poste’s good growth in asset management and parcel shipping, deeming the dividend policy sustainable, which allows a dividend yield to date of around 5%.