Volatile session for Piazza Affari. The Ftse Mib index closed up 0.49% to 22,413 points in the wake of Wall Street’s attempt to rebound after the worst session since June 2020. Ferrari stock today in the front row in Milan (+2.53 %) which has been carried over to the 200 euro wall. Yesterday the Prancing Horse group officially presented the new Purosangue (the first 4-door and 4-seater car) with deliveries starting from the second quarter of 2023 in Europe and 3Q 2023 in the United States. According to press sources, orders could reach 6 thousand units and according to Automotive News in the light of pre-orders Ferrari could consider closing the collection.
In the automotive sector, Stellantis also rose (+ 0.9%) which entered into an agreement for the repurchase of 69.1 million treasury shares (2.2% of the capital) deriving from the exercise of the warrants held by GM
Banks did well with + 3.7% for Bper and + 3.16% for Banco BPM. Unicredit was also in the spotlight (+ 2.47% to € 10.86) on the day of the shareholders’ meeting that gave the green light to the second tranche of one billion of the 2.6 billion total buyback. 99.3361% of the capital present voted in favor of the resolution. CEO Andrea Orcel stressed that the bank has very solid financial and strategic foundations.
On the other hand, some utilities are struggling with Hera at the bottom of the Ftse Mib with -3.61%. The European Commission has proposed a series of regulatory changes aimed at mitigating the liquidity crisis that energy suppliers are experiencing. The President of the EU Commission Ursula von der Leyen announced that the EU could collect over 140 billion euros from the tax on the extra-profits of energy companies and thus cushion the cost of living for consumers. The EU energy plan in general foresees electricity savings of 5 percent during peak hours and 10 percent overall over a month.