Piazza Affari runs together with the other EU stock exchanges that set aside the fears of the eve of the vaccines front with the temporary stop to the administration of the Astrazeneca vaccine as a precaution, pending the pronouncement of the EMA expected on Thursday. “There are no indications that the vaccinations could have caused these events,” said Emer Cooke, executive director of EMA.
On the macro front, expectations are growing ahead of the Federal Reserve tomorrow. In this context, the Ftse Mib index closed at 24,261 points (+ 0.50%), updating the closing highs over a year. Among the securities in the main basket, Banco Bpm stands out with + 3.74% at € 2.358 (top since February 2020), followed by Bper Banca and Mediobanca, up by 2.21% and 1.71% respectively. According to some rumors collected by Il Sole 24 Ore, Unicredit could return to look with interest at Mediobanca, after its exit two years ago, making the Mps-UniCredit deal vanish. Such a development could pave the way for a deal between Banco and Bper.
Purchases also on Intesa Sanpaolo (+ 1.28%), which thus updated the maximums to over a year, as well as Poste Italiane (+ 2.15% to € 10.435), on the maximums of over one year. The group led by Matteo Del Fante will hold ‘Capital Markets Day’ on 19 March 2021, illustrating the new strategic plan for 2024.
Leonardo also stood out today, scoring + 0.85% in the 7.8 euro area. Yesterday, the defense group launched the IPO of a minority stake in the common stock of its subsidiary DRS on Wall Street. The identified price range is between 20 and 22 dollars per share. The 100% valuation of DRS in IPO is between $ 2.9 and $ 3.19 billion. Assuming the mid-point of the price range, today Equita raised the target price on Leonardo by 7% to 9.4 euros.
On the other hand, Eni lost 0.91% thanks to the new oil retracement. Terna also fell to -0.6%, catching its breath after the jump on the eve of the day (+ 4.7%). Finally, Azimut was weak (-0.53%) which yesterday signed an agreement to acquire 51% of the capital of Kaan Capital, an independent asset management and advisory company specializing in Mexican equities.