Sales are back today in Piazza Affari with the leap beyond expectations of new payrolls in the private sector (ADP estimate +692 thousand, consensus was 550 thousand) which does not heat the market. In Europe, on the other hand, as expected, inflation slows down (+ 1.9% annually in June). As regards Italy, the last auction of government bonds of the half year saw the allocation of 5 and 10-year BTPs for a total of 6 billion, the maximum of the expected range. In detail, € 3 billion of 5-year BTPs were placed (range was 2.5-3 billion) with demand exceeding 4 billion. The coverage ratio was 1.37. The 5-year BTP expiring in April 2026 was allocated to the yield of 0.12%, down by 5 basis points compared to a month ago.
The Ftse Mib closed badly with -1.01% at 25.102 points after hitting intraday lows below the 25 thousand points threshold. Enel, the most important stock in the entire Piazza Affari, scores -1.78% at € 7.895. Over -1% for Hera and A2a with the entire utility sector which suffered today.
Among the worst of the day also Pirelli with -1.62% and STM with -1.4%.
Among the banks, drops for Unicredit (-0.75%) and Intesa Sanpaolo (-0.64%), while Bper rose (+ 0.71%) benefiting from the movements in Unipol’s shareholding structure, which could presage future moves of M&A linked to the Emilian bank (of which the insurance company holds a controlling stake).
Unipol is now a positive protagonist with + 5.52% to 4.55 euros after the move by Koru – a company owned by several cooperatives already shareholders of Unipol – which launched an ABB reverse aimed at achieving a 3.35% stake in the capital of Unipol (24 million shares). The premium offered for the shares is 6.6% compared to yesterday’s closing price of the stock.