Close to April toned for the stock markets. The Ftse Mib index closed today with + 0.82% at 24,252 points, following yesterday’s rise. However, the month ended with a decidedly negative balance with over -3% for the Milan Stock Exchange. Waiting for the Fed next week, the learning season continues with Amazon and Apple paying duty on Wall Street after the release of the quarterly numbers. Apple in particular beat expectations in terms of earnings and revenue, but indicated possible repercussions from the lockdown in China and the bottlenecks in supply chains.
The focus now shifts to next Wednesday’s Fed meeting. Expectations are for a 50 basis point rate hike with the dollar remaining strong (new 20-year highs on the yen).
In the spotlight today ENI (+ 1.76% to 13.39 euros) which reported a net profit of 3.58 billion euros in the first quarter of 2022 against 856 million in the previous year and in the adjusted version, that is, net of non-recurring items, settle at 3.27 billion and beat the Bloomberg consensus which indicated adjusted profits of 2.4 billion. Consolidated adjusted EBIT, on the other hand, jumped to € 5.19 billion. Eni confirmed the IPO of the subsidiary Plenitude and the listing on the Milanese list through an IPO within this year. The retail, renewable & electric mobility business managed by Plenitude “is well positioned to achieve the adjusted annual EBITDA guidance (over € 0.6 billion) despite the volatility of the scenario, confirming the resilience of the integrated business model”, he explained Claudio Descalzi, CEO of ENI.
Tenaris in rally today with over + 5%. Banca Generali is also good with approximately + 2.5%. Among the other well-established stocks are the big banks: + 1.93% Unicredit and around 1.5% Intesa. Next week it will be the turn of the banking quarterly.