End of the week with a smile for Piazza Affari. The stock markets today found support in the results arrived from China (+ 18.3% GDP on an annual basis in the first three months of 2021) and from the learning season which is also starting in Europe with the accounts beyond Daimler’s expectations. that have pushed the whole car sector.
In Ftse Mib he closed trading scoring + 0.88% at 24.24.744 points. Among the titles of the main basket, CNH stands out with over + 2.5% with the rumors of a 128 million order from Spain.
In the Agnelli galaxy Stellantis also performed well today (+ 1.45% to € 15.26) under the pressure of Daimler’s quarterly accounts which recorded better-than-expected growth in operating profit in the first quarter thanks to higher prices of vehicles and high demand in China. Yesterday, the CEO of Stellantis, Carlos Tavares, in his speech at the shareholders’ meeting, was peremptory in indicating that electrification will be a pillar of the group’s strategy in the coming years. In 2025, electrified vehicles sold by Stellantis in Europe represented 38% of the group’s sales, 31% in the United States, and then increased to 70% in Europe and 35% in the United States in 2030. “The electrification process, as well as the growing penetration in the Chinese market, will probably be some of the main pillars of the new industrial plan that will act as a catalyst for the stock in the second half of the year “, remark today the analysts of Mediobanca Securities who indicate outperform on the stock with target price at 20.70 euros. The next short-term catalyst will be the accounts for the first quarter of 2021 due out on May 5th.
Ferrari also did well (+ 0.63%) with analysts welcoming the shorter lead times for the arrival of the first fully electric model. John Elkann said during the shareholders’ meeting that the first 100% electric Red will arrive in 2025, while the last official communication a month ago was by 2030.
Among the banks, Banco BPM performed well with + 2.28%. In recovery Unicredit (+ 1.07%) after the weakness of the last sessions. The new CEO, Andrea Orcel, indicated the need to rationalize the business and focus on digitization. “For our shareholders, the message is that of profitable, sustainable growth, consistent with our economic-social role and focused on the areas where we are able to create real added value”, adds Orcel in the message written to employees and published in the bank website.
Finally, Atlantia closed at approximately + 1%. Today the board of directors has decided to delegate to the shareholders’ meeting any decision regarding the offer for 88% of ASPI received from the consortium led by CDP.