Home » Piazza Affari closes at -1.58%: bad Intesa and Eni, Banco BPM rises again

Piazza Affari closes at -1.58%: bad Intesa and Eni, Banco BPM rises again

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Tough day for the markets as the violent sell-off on cryptocurrencies contributed to worsening investor sentiment. At the end, the Ftse Mib index lost 1.58% to 24,486 points after it dropped over 2% coinciding with the sharp decline in Wall Street. Commodities also hurt with the WTI down by more than 4%. The focus is on the publication of the FOMC minutes in the United States tonight.

Strong sales on Cnh Industrial which lost 5.35%, down also Buzzi (-3.55%). Oil stocks are in great trouble following the drop in oil: -2.28% ENI, -2.74% Tenaris and -1.67% Saipem. Among the very few positive signs, Amplifon (+ 0.58%) and Diasorin (+ 0.32%) stand out.

Among the banks, we note the -2.12% of Intesa Sanpaolo and -1.88% of Bper. A plus sign for Banco BPM (+ 0.54%) which is confirmed as one of the hottest stocks of the moment (it is also the best YTD with + 52.7%) with the increase in M&A appeal. As reported today by various press organs, the CEO Giuseppe Castagna would have updated the Board of Directors on M&A matters, presenting the merger with Bper as the main option. On the market, on the other hand, the hottest option appears to be that of a deal with UNicredit which could guarantee greater returns for Banco’s shareholders.

Telecom Italia is down today (-0.91% to € 0.4346), already in trouble yesterday after the disappointing accounts of Iliad and Vodafone. Quarterly numbers are expected tonight with the consensus that forecasts revenues of 3.7 billion euros for the largest Italian telecoms, 1.569 billion ebitda and 21.3 billion debt (the consensus debt includes 1.8 billion cashin from FiberCop ). Intesa Sanpaolo analysts see TIM’s EBITDA decline in the domestic market of 4% y / y 1.134 billion on a comparable basis. Domestic business is expected to continue to show a decline in mobile service revenues.

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Outside the Ftse Mib, Technogym stock fell to over -7% after the accelerated bookbuilding with which Alessandri sold almost 6% of the share capital. TGH, the holding company headed by chairman Nerio Alessandri, has completed the sale of a total of 12,0000,000 Technogym ordinary shares, equal to approximately 5.96% of the share capital, at a price per share of 10.81 euros and for a total value of 129.7 million.

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