Home » Piazza Affari closes at -1.7%, the Kremlin turns off the markets rebound. Evil TIM and galaxy Agnelli

Piazza Affari closes at -1.7%, the Kremlin turns off the markets rebound. Evil TIM and galaxy Agnelli

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Piazza Affari closes at -1.7%, the Kremlin turns off the markets rebound.  Evil TIM and galaxy Agnelli
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Piazza Affari trudges at the beginning of the eighth with the newsflow linked to the Ukrainian crisis that continues to dictate the pace for investors. After a promising start under the pressure of the possible Biden-Putin summit, the markets have turned sharply down in the last few hours thanks to the clarifications arrived from Moscow. A Kremlin spokesperson said there were no concrete plans for a Ukraine summit between Russian President Vladimir Putin and his American counterpart Joe Biden. Meanwhile, satellite images show that Russian forces have further approached the Ukrainian border.

The Ftse Mib index marks -1.72% at 26,050 points. Among the blue chips we report the drops of the Agnelli galaxy with Stellantis at -2.32%. Difficult day especially for Exor at -4.51% under 69 euros thanks to the settlement agreement with the Revenue Agency regarding the application of the Participation Exemption (PEX – according to which 95% of the capital gains are tax exempt) on the occasion of the merger between the Italian company Exor and its Dutch subsidiary Exor Holding NV to create today’s Exor. In order to avoid a dispute, EXOR decided to settle by paying 746 million euros (of which 104 million in interest).

Chn Industrial is also declining today (-3.75% to 13.36 euros) after the indications that came from the US Deere, warmly welcomed by the market despite the upward revision of the 2022 outlook. Banca Akros remarks how the prospects for the sector remain strong and remember that tomorrow the appointment is set for Cnh Industrial with Capital Markets Day.

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Among the banks, drops in the order of 2% for Banco BPM, -1.75% Unicredit and -1.76% Intesa. TIM was also involved in the generalized reductions (-2.78%) after the company responded to press rumors specifying that the next plan is being defined and will be discussed within the Board of Directors and that the related quantitative targets are not they have not been the subject of discussion nor have any decisions been taken on the matter.

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