Home » Piazza Affari ballasted by Enel and Tim in the last session of September, new top 2021 for ENI

Piazza Affari ballasted by Enel and Tim in the last session of September, new top 2021 for ENI

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Last session of September without verve for Piazza Affari. The Milan stock exchange, as well as the other main European markets and Wall Street, thus closes a negative month that interrupts the series of seven consecutive months of increases with the emergence of higher inflation which has led to an increase in the yields of government bonds on the prospect of more restrictive monetary policies by central banks.

The Ftse Mib index, after an upward first part of the day, closed at 25,683 points, with a decline of 0.21%. In the front row Tenaris (+ 1.81%) which benefited from the promotion by Credit Suisse which raised the target price to 7.3 euros (from the previous 4.4 euros). ENI is also in the running (+ 1.39%) which updates the annual maximums above the 11.5 euro area.

The sharp drop in Enel (-2.09% to € 6.651), the most important stock in the Milanese index, contributed significantly to clipping the wings of the Ftse Mib. Since the beginning of the year, Enel has left over 19 per cent on the ground, the worst blue chip ever.

Even today Telecom Italia is bad. The stock of the largest Italian telecommunications company lost almost -2%, slipping below € 0.34, on the lowest level since November 2020. Since the beginning of the year, Telecom’s balance has been over -10%, the second worst stock in the entire Ftse Mib. Already yesterday, sales had hit the TIM share conspicuous thanks to the fear of strong competition for the construction and management of the National Strategic Pole (PSN), or the cloud of the public administration. Luigi Gubitosi, CEO of TIM, today remarked that the consortium led by TIM is “very qualified”, underlining how the government will examine the proposal in the coming days and believes that they will be satisfied with what they will find. Gubitosi believes that, as the PNRR plan starts on January 1, 2022, the cloud project should start relatively quickly. “We are ready to leave tomorrow morning,” he added.

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