Equity markets today welcomed the call between Biden and Xi Jinping, which lasted three hours, which hinted at the possibility of better relations between the United States and China. Leaders of the world‘s two largest economies agreed that their countries need to increase communication and cooperation. Positive side also from the macro front with better than expected indications from both the European GDP and the US economy (both retail sales and industrial production beat expectations).
While the European stock exchanges updated the all-time highs, Piazza Affari was lagging behind and underperformed significantly today. The Ftse Mib index thus missed the attack on the rock of 28 thousand points, closing at 27,833 points (-0.12%), below the highs of over 13 years reached on the eve.
Among oil stocks, ENI performed well (+ 0.41% to € 12.492) in the wake of rumors about the ENI R&R IPO which could take place by autumn 2022 with around 25-30% of the company on the market.
New all-time highs for Moncler (+ 0.90% to 69.16 euros) which benefits from the good indications from Kering with the Gucci brand which should close the year with revenues in line with the pre-pandemic levels of 2019 .
Telecom Italia closed at + 1.29% at € 0.338, already yesterday in the front row on the Ftse Mib after the ups and downs of recent weeks. According to what Il Messaggero reported today, the controls and risks committee will today take stock of the contract with Dazn with the intention of modifying the agreement and making it more profitable in light of the current results lower than expected. Among the hypotheses there would be a change to the revenue share, ie the share of revenues held by Telecom; a remodeling of the one billion investment expected in the three-year period is also hypothesized.
Among the minus signs, Generali stands out with -2.47% at € 18.765. Enel was also bad with -0.88% as well as other utilities (-1.65% Terna and -1.24% Snam).