Home Business Milan struggles in the wake of Wall Street, over -4% STM and Interpump

Milan struggles in the wake of Wall Street, over -4% STM and Interpump

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Difficult day for Piazza Affari. After a relatively quiet first session, the Ftse Mib accelerated to the downside and marks around -1% to 27,347 points in the wake of the pronounced weakness of Wall Street (-1.7% S&P 50, -2.4% Nasdaq) . Fears of a further flare-up in inflation and, consequently, of a more aggressive Fed weigh on. 10-year Treasury rates exceeded 1.8% for the first time since January 2020. Analysts at Goldman Sachs predict that the Federal Reserve will raise fed funds rates four times this year and begin lowering the rate. budget ahead of schedule.

The sell-off is pronounced on technology and weighs on STM which yields approximately 4.3%. Very bad at about -4% also Intermpump.

It should be noted the + 1.05% of Enel which is approaching 7 euros with the latest press indications that see the government at work for further allocations of 3 billion euros to reduce the weight of the increase in bills. Analysts do not expect significant impacts for companies in the energy sector.

The minus signs include approximately -1% of Interpump. CEO Montipò fears the pandemic and the possible impacts on lockdowns rather than inflation, which can be managed with price increases. On the strategic target of 2 billion euros in sales, Montipò sees an achievable goal in 2023 compared to the consensus of turnover of 1.57 billion in 2021 and 1.85 billion in 2022. According to Equita analysts, the goal is within reach whereas there will most likely be further M&A.

Almost -2% for Ferrari after the announcement of the new organizational structure aimed at making the company more ready to seize the next opportunities. “We want to push the boundaries further in all areas, using technology in a unique and Ferrari way,” said Benedetto Vigna, CEO of Ferrari.

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