Home Business Ftse Mib swerves, Snap effect knocks out the markets. Purchases on Banco BPM and Leonardo

Ftse Mib swerves, Snap effect knocks out the markets. Purchases on Banco BPM and Leonardo

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Ftse Mib swerves, Snap effect knocks out the markets.  Purchases on Banco BPM and Leonardo
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24/05/2022 17:39


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On Tuesday in trouble for Piazza Affari which follows the weakness of Wall Street in the wake of the results decidedly below expectations arrived from the Snap quarterly report. The Ftse Mib closed -1.08% at 23,876 points.

On the parterre of Piazza Affari, the decreases of STM and Stellantis are reported today, both backward by more than 3 percent. TIM was also bad at -2.1%.

In the spotlight Banco BPM (+ 1.16% to 3.144 euros) after the latest maneuvers involving Credit Agricole, the bank that became the main shareholder of Piazza Meda at the beginning of April, when it acquired almost 9.2% of the bank . Credit Agricole, through Amundi, acquired 5.161% in Anima Holding, of which Banco BPM is the main shareholder with a stake of 20.6%. Banco BPM is also Anima’s main strategic partner, with a distribution agreement until 2037 (which provides significant protections for Anima), with assets under management of approximately 45 billion and a penetration of approximately 69% of the bank’s total customer funds. .

Leonardo also did well today (+ 1.31% to 10.03 euros). CEO Alessandro Profumo stated that an aggregation with Fincantieri would not generate synergies. “Fincantieri makes ships for the civil and military sectors. There are synergies between them. While I do not think there are between those who make defense electronics and those who build hulls”, were the words of Leonardo’s top manager in one interview with the newspaper Repubblica. Yesterday the hypothesis of an ‘Italian military pole’ was re-launched by the Minister of Development Giorgetti during a visit to Fincantieri. “We believe it remains an unlikely scenario even if political will weighs on decisions of this type”, commented Equita’s experts.

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