06/05/2022 17:38
Closing of the week in red for Piazza Affari. The Ftse Mib lost 1.2% to 23,475 points. A week that saw equities pay duty, especially Wall Street, with investors fearing high inflation long with the Fed forced to more aggressive hikes. Stronger-than-expected US labor market data today amplified investor fears of greater interest rate hikes to tame inflation. Non-farm payrolls posted +428,000 jobs in April.
In Milan, focus on the quarterly season. The negative reaction of Intesa Sanpaolo stands out (-2.32% to 1.88 euros) to the quarterly numbers which in any case showed a profit of over 1 billion euros, beyond market expectations. The bank led by Carlo Messina was forced to revise the 2022 profit target, now seen at over 4 billion compared to the 5 billion indicated three months ago, ie before the outbreak of the conflict in Ukraine.
In decline also Banco BPM (-0.75%) reported a net profit of 178 million in the first quarter of 2022, up by 76%. Quarterly feedback also from Banca MPS (-5.05% to 0.725 euros) which recorded a first quarter profit of 9.7 million euros and the new CEO Luigi Lovaglio will present a new plan for the Sienese bank on 23 June . Monte dei Paschi said the size of a planned capital increase for the moment remains at € 2.5 billion.
On the other hand, purchases on Leonardo (+ 0.66%) which instead closed the first three months of 2022 with profits of 74 million in the first quarter against the loss of 2 million recorded in the same period of 2021. Revenues stood at 3,006 million euros, showing growth of around 8%. Guidance 2022 confirmed.