Home » Piazza Affari also pays for the US-China tensions. Profit season continues with Ferrari, Generali and Fineco

Piazza Affari also pays for the US-China tensions. Profit season continues with Ferrari, Generali and Fineco

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Piazza Affari also pays for the US-China tensions.  Profit season continues with Ferrari, Generali and Fineco

Closing in red for Piazza Affari, which puts the positive start of the week behind it. In the second session of August, the Ftse Mib index recorded a decline of 0.35%, closing the session at 22,351 points, also thanks to the weak start of Wall Street. Global lists are affected by the uncertain international context, in which fears of geopolitical tensions between the US and China have returned to rise in the wake of the increasingly likely visit of US House Speaker Nancy Pelosi to Taiwan.

Among the individual securities of the main Milanese list, Banco Bpm (+ 2.55%) stood out, which in the next few days will communicate the accounts to the market (they will be released tomorrow). Meanwhile, today attention is turned to the rumors reported by “Il Sole 24 Ore”, according to which Axa and Credit Agricole are the main candidates to enter into a bancassurance agreement with the banking group led by Castagna after the presentation of the non-binding offers from interested parties (including Generali and Allianz). “If the rumors about an assessment of Banco Bpm’s insurance business by Axa of 1.5 billion were confirmed, this could represent a starting point on which the management of Banco Bpm could leverage in the negotiations”, underline from Equita .

Ferrari is also under the lens (+ 1.06%) which today announced the results for the second quarter of 2022 which see revenues and profits up. The guidance for 2022 has also been revised upwards. Always remaining in the Agnelli galaxy, a positive session also for Stellantis which finished at € 14.28, showing growth of + 1.68%. In July, car registrations on the Italian market fell by 1% on an annual basis to 110 thousand vehicles, slowing down the decline of the previous months (-20% YTD) despite one less working day. “The improvement is attributable to the easier YoY comparison, given that last year July was the first month of market collapse (-19% y / y)”, recall from Equita.

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For the earnings season, the results of Generali (-1.91%) were also published today, which beat expectations in terms of quarterly earnings; those of Fineco (-0.29%) which closed the second quarter with a net profit of € 98.9 million (+ 10% y / y) and confirmed its capital solidity with Cet1 at 19.14%; and finally those of Interpump (-1.21).

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