Piazza Affari opens the eighth with a smile and the Ftse Mib (close to 24.802 points, + 0.78%) further approaches the threshold of 25 thousand points above which the multi-year highs for the tricolor index are stationed. Today new historical tops for the Dow Jones under the pressure of energy stocks in the wake of the news of the cyber attack launched at Colonial Pipeline, the company that manages the largest oil pipeline network in the United States. Colonial was forced to stop transporting fuel from the Gulf of Mexico to the New York metropolitan area. Mining stocks also rallied.
At Piazza Affari the next sessions will see the quarterly reports of the testimonials of managed savings in the foreground in Italy. Tomorrow 11 May it will be the turn of Banca Generali, Banca Mediolanum, Fineco and Poste Italiane. Mediobanca, Salvatore Ferragamo and Snam are also on the agenda on the same day.
Very well with over + 2% Poste Italiane waiting for the quarterly accounts to arrive tomorrow. The stock closed at 11,225 euros, a breath away from the historical peaks touched at the end of February 16, 2020 at 11,295 euros. Azimut also did well at + 1.44% after reporting positive net inflows of 880 million in April. Stm was among the worst with -2.6%.
A session to be framed for Unicredit (+ 5.39% to € 9.854), outperforming the banking sector which is the most tonic in Europe today. The market looks to the latest rumors on the M&A front. According to what reported by Il Messaggero, the Treasury would have in mind to convince Piazza Gae Aulenti to buy 51% of that majority stake of more than 64% held by the Mef itself at symbolic values, and remain in the capital of Monte with a stake of 13 %. The Italian government would also like to ask Europe for an extension of 6 months and to encourage the sale of its stake held in MPS it would be studying the possibility of offering the acquiring bank to benefit from the transformation into tax credits of the DTAs, in the event that the deal was announced by June 2022 and the integration completed within three years. Banca Akros however points out that the sale of 51% of Mps to Unicredit could limit Unicredit’s synergies from the operation. Akros confirms neutral on Unicredit (target price at € 8.90) reiterating the skepticism about the marriage with MPS that would not solve the bank’s under-penetration in Lombardy. Meanwhile, today Ubs raised the target price on Unicredit to € 12.40 from € 11.70, with a confirmed buy judgment.
Among the banks, Bper also stood out with + 3.87% at the end. With the markets closed on Friday, the Emilian bank reported the accounts for the first quarter, which are difficult to compare with the previous quarters given the consolidation, starting from 22 February, of the former UBI branches. In detail, Net Interest Income marks 344 million against the expected 330 million, Total Income at 758 million against the expected 689 million, adjusted operating profit at 304 million against the expected 212 million. At the operating level, the performance is overall better than expected, says Equita, thanks to higher Net Interest Income, commissions of 328 million against the 310 expected, trading of 76 million against the expected 38 million and lower costs of -454 million. The conference call shows that Bper will consider any opportunities on the M&A front even if it is not the priority at the moment.