Piazza Affari crosses the finish line of the last session of the week with an increase, in a session marked by the waiting for data on the US labor market. While the European lists closed the day with caution, in Milan the Ftse Mib index recorded a + 0.46% at 25,570.46 points.
As for the US data, it has been in light and shadow but push investors to bet that the Fed will not revise its monetary policy sooner than expected to keep inflation fears under control. In particular, the US economy created 559,000 new jobs in May. The figure was worse than expected, with analysts forecasting an increase in employment of 675,000 units. Hourly wages jumped an average of 2% on an annual basis, more than the estimated + 1.6%. The unemployment rate fell from 6.1% in April to 5.8%, better than the 5.9% expected.
At the national level, after yesterday’s IMF estimates, Istat’s forecasts for Italy are under the lens. The institute expects sustained GDP growth both in 2021 (+ 4.7%) and in 2022 (+ 4.4%).
Returning to Piazza Affari, Saipem’s performance was under the lens today, which closed at + 2.7% (during the session the stock rose above the 2.3 euro threshold which it had not exceeded since last April). This morning the company announced an agreement to buy floating wind energy assets from Naval Energies. “With this agreement, Saipem will benefit from privileged access to the Groix & Belleile (Shell / Eolfi) wind farm project”, say Equita analysts who confirm the hold recommendation and target price of 2 euros on the oil group. “The acquisition is consistent with Saipem’s interest in technologies that can support future business developments and to invest in projects / technologies related to the energy transition”, add the experts. Stellantis and Diasorin also stand out in the trio of the best, showing growth of 2.8% and 1.8% respectively. Upward pitch for A2a in Piazza Affari, where it showed a + 1.6%. Today Equita analysts revised the target price upwards, bringing it from 1.55 to 1.9 euros, and confirmed the buy rating (rating buy) on the utility.
Weakness, on the other hand, for Tenaris which lost 1.5%, and also for some big names in the financial sector such as Poste Italiane and UniCredit, down by 0.9% and 0.8% respectively.