Home » Milan Stock Exchange rebounds, but without the banks. The worst of the day is Banco Bpm

Milan Stock Exchange rebounds, but without the banks. The worst of the day is Banco Bpm

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The Milan stock exchange closed in negative territory, rebounding after the recent declines, also thanks to the good performance of Wall Street. The markets are trying to put aside worries about an upcoming monetary tightening by the big central banks, despite the indications coming from the minutes of the Federal Reserve. In fact, a new element emerged from the minutes, which could fuel fears of a QE tapering and an early rate hike, compared to what was indicated by the American central bank itself. “Some speakers have indicated that if the economy continues to make rapid progress towards the Commission’s objectives, it may be appropriate at some point in the upcoming meetings to begin discussing a plan to make adjustments to the pace of asset purchases.” To support the mood we thought the positive American data on unemployment benefits claims which have fallen to the lowest since the beginning of the pandemic. The Ftse Mib index thus closed with an increase of 0.88% in the area of ​​24,702.11 points.

Among the stocks in the main basket, Campari, Ferrari, Nexi and Amplifon stood out with increases of over 2 percentage points. Telecom Italia, on the other hand, did not manage to snatch the plus sign, closing with a -0.21% at 0.43 euros on the day of the accounts. The tlc group closed the first quarter of 2021 with a loss of 0.2 billion euros due to non-recurring items (-0.3 billion) and, in particular, for the provision for the departure of personnel for retirement anticipated and voluntary expected in the second quarter of this year (about 1,300 people). The net result, excluding non-recurring items, stood at 0.1 billion.

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However, sales were concentrated above all on the financial sector, with Banco Bpm being the worst share of the Ftse Mib, leaving 2.17% on the parterre, after the rises on the eve of the day. Banco Bpm is confirmed among the hottest stocks of the moment with the increase in M&A appeal. According to the latest rumors, the CEO Giuseppe Castagna would have updated the Board of Directors on M&A matters, presenting the merger with Bper as the main option. On the market, on the other hand, the hottest option appears to be that of a deal with Unicredit which could guarantee greater returns for Banco’s shareholders. Bper and Unipol were also down, losing around 0.9%.

Oil was weak, with Saipem losing 0.8%, followed by Tenaris (-0.35%) and Eni (-0.16%), thanks to the new drops in oil prices.

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