Stock markets in strong recovery, including Piazza Affari. After yesterday’s difficult day, the Ftse Mib recovered ground, closing at 25,773 points with an increase of 3.59%. The news contributes today to restore breath to the markets the Kremlin would be ready to send a delegation to Minsk for negotiations with Ukraine. In addition, the markets are looking at the possibility that central banks would revise their monetary policy plans in the light of the Russia-Ukraine war, proceeding with greater caution in the path of rate hikes. A prospect that in Europe has done well today primarily to utilities, a sector that has lagged behind in recent months precisely on the prospect of more restrictive central banks.
In general, the markets today breathed a sigh of relief thanks also to the fact ch the sanctions announced by the US and the EU were not drastic, in particular by avoiding the most feared action, namely to exclude Russia from the SWIFT international banking network. In addition, exemptions have been granted for energy exports with consequent deflation of oil and gas prices.
On the parterre of Piazza Affari to excel was Enel with a jump of 5.77% and returning above 6.5 euros. Terna and Italgas also did very well, with increases in the order of 5 percent. Among the big names, the + 5.3% of Stellantis should be noted.
Among the individual stories of Piazza Affari it is also worth noting today Moncler (+ 4.99%) after yesterday the group of down jackets reported slightly above expectations for 2021. Revenues for 2021 amounted to 2.05 billion compared to the 1.99 billion expected by the Bloomberg consensus. Net profit amounted to 411 million (consensus 382.9 million). A dividend of € 0.6 per share has been proposed.
Banks are recovering with Unicredit (+ 3.81%) and Intesa (+ 2.72%) in the dust after the sharp drops on the eve of investors’ fears for exposure to Russia. Among the banks, Banco BPM (+ 2.17%) should also be noted, with some M&A rumors returning. According to Repubblica, a meeting was held in recent days between Giuseppe Castagna, ceo of Banco BPM, and the equal rank of Credit Agricole Italia, Giampiero Maioli to discuss the governance of the Agos jv (39% Banco, 61% Credit Agricole Italia) and the two bankers also discussed the possibility of a rapprochement between the two groups, also in light of Credit Agricole’s interest in further growth in Italy.