Prevalence of purchases on the markets today after the sharp decline on the eve. The Ftse Mib closed + 1.61% at 24.242 points. Expectations are growing for the Fed meeting, which begins today and tomorrow evening should give birth to a rate hike of 50 basis points after the quarter point hike decided in March. Focus also on what Fed chairman Jerome Powell will say.
Among the hottest stocks on the Ftse Mib today Campari stands out with over + 2.24% in the € 10.71 area in the wake of the spread of accounts higher than expected. The first quarter of the beverage group reported a group profit before tax of 107 million (+ 65.1%) and an adjusted profit of the group before tax which rose by 74.1% to 111.7 million. . The ceo Kunze-Concewitz confirmed the guidance which indicates stable Ebit margin on 2022 sales.
Among the banks, Intesa Sanpaolo jumped forward (+ 1.97%) with the sector that today is supported by results beyond the expectations of BNP Paribas. 3.18% progress for Stellantis which announced the purchase of Share Now.
Finally, full session for Tenaris (+ 4.56%). The stock ended up under the analysts’ lens, with Credit Suisse revising its target price upwards from € 8.8 to € 8.9 following the publication of the results for the first quarter of 2022, maintaining the ‘underperform’ recommendation. “Although we expected a positive outlook for the second quarter of the year, the guidance announced by Tenaris for the second half of the year, with further revenues up and stable margins compared to the first part of 2022, was surprising,” writes the Swiss broker.