Piazza Affari, returning from two consecutive sessions in decline, finds its way back under the pressure of the utilities. The Ftse Mib index closed + 0.5% at 26,357 points. All investors’ attention is directed to the minutes of the FOMC relating to the July meeting. Market participants will be looking for clues about the central bank’s stance on inflation and when it might start tapering its bond buying program. In the background, fears remain over the advance of the delta variant which threatens to slow down the global economic recovery.
A day with two faces for Enel. After a start that fell by more than 1 percent below the 7.70 euro area, the stock progressively recovered, following the rally of the utilities and closing at + 1% at 7.85 euro. Increases in the order of 1% also for Terna and Snam. According to what reported by Il Sole 24 Ore, the jump in the price of methane (more than doubled in a few months) will be reflected in the autumn in conspicuous increases in electricity bills to the benefit of operators in the sector.
Again among the utilities, multi-year highs updated today for A2a (+ 2.1% in the 1.944 euro area). Since the beginning of the year, the title has jumped by over 48% which places him on the third step of the podium among the 2021 best performers of the Ftse Mib. The group led by Renato Mazzoncini in recent months has been benefiting from the wave of the solid accounts of the first half, with an upward revision of the guidance for the whole year. Ambitious business plan bank presented at the beginning of the year and which focuses strongly on clean energy. Of the 16 billion investments in 10 years, 6 billion are for the Circular Economy and 10 billion for the Energy Transition. The Milanese multi-utility aims to triple the installed capacity from renewable sources, equal to 5.7 GW at the end of the Plan.
Another stock in the dust is Interpump (+ 2.56%) which today updated the all-time highs. The stock of the group leader in the production of high and very high pressure water pumps reached an intraday peak at € 58.45. Since the beginning of the year, the rally is over + 44% which places Interpump in fourth place among the best titles since the beginning of the year on the Ftse Mib.
Finally, STM moved up (+ 1.07%) which expanded the agreement with Cree for the supply of silicon carbide wafers. The revised agreement, in which Cree agrees to supply STM with 150mm silicon carbide raw and epitaxial wafers over the next several years, has now reached a value of more than $ 800 million.
Moncler stands out among the few minus signs (-2.63%).