First session of the week with Piazza Affari in good progress. The Ftse Mib, back from three negative weeks in the last four, marks an increase of 0.92% at 25,283 points at the end. Today the spotlight is on central banks. In China, the PBoC announced a 0.5% cut in the mandatory reserve rate, which came into effect on July 15, a measure that will free up resources of around $ 154 billion to support the Asian country’s economy which has recently highlighted some slowdown signal. In Europe, the ECB president, Christine Lagarde, stressed that the change in strategy will certainly lead to a revision of the forward guidance at the meeting on 22 July and that the PEPP in 2022 could be “followed by a transition to a new format”.
This week the corporate earnings season officially kicks off with JP Morgan Chase, Bank of America, Goldman Sachs, Citigroup, Wells Fargo and Morgan Stanley as protagonists.
Among the Milanese blue chips, Recordati (+ 4.78%) and Hera (+ 2.36%) and Hera (+ 2.36%) rose today, with all the utilities growing up (+ 1.76% Snam and + 1.4% Terna). Among the convincing big sessions for Enel (+ 1.74% to € 8.062), while ENI lagged behind (+ 0.14%) The Six-legged Dog Group has acquired wind projects in Italy for 315MW of existing capacity with growth up to 350MW in the pipeline. According to Equita, the group led by Claudio Descalzi will reach the 2021 renewables target of 0.7GW in advance and will exceed 1GW at the end of 2021. The experts of the Milanese sim company estimate that the value of the operation could be around € 0.4-0.6 billion, with a contribution to EBITDA of around 60-70 million from 2022.
Amplifon is in the front row today (+ 2.7% to 39.1 euros) which has signed a definitive agreement for the acquisition of Bay Audio, a leading hearing care operator in Australia. The cash out amounts to 550 million Australian dollars, approximately 340 million euros.
Contrasted the banks: drops in the order of 0.3 per cent for Unicredit, while Intesa Sanpaolo rose by 0.94%.