Final octave tonic for Piazza Affari which is the best among the European stock exchanges. The Ftse Mib index closed at + 1.10% at 24,975 points, on the new highs since the beginning of the year. Today the optimism in the Old Continent was fueled by the feedback beyond the expectations of the SME services in the euro area in May, in the wake of the beneficial effects of the reopening.
Among the big players in the main basket, Enel stands out with a + 1.41% following the rise on the eve of the day. The auto sector also performed well with Stellantis + 2.07% and Ferrari with + 2%.
Telecom Italia is recovering today (+ 1.8% to € 0.4415) after yesterday’s cold reception to the quarterly accounts. From yesterday’s conference call, messages of trust emerged on the single network front. CEO Luigi Gubitosi remains confident about the single network after the transfer of control to CDP and the exit of Enel. It is not necessary to wait for the closing to resume negotiations. “There is nothing we could do after that we cannot do even earlier”, were the words of the CEO who said he was “more optimistic” and does not expect problems at the EU antitrust level as the rise from 50 to 60% of Cdp in Open Fiber and the entry of Macquarie with the remaining 40%.
On the other hand, on the other hand, Unicredit with -0.12% after the expected change in the threshold for the conversion of DTAs into tax credits in the event of aggregations did not arrive from the Sostegno Bis decree. Also as regards the extension of the terms of the benefit, the only novelty of the Decree is that the business combination is approved ‘by the competent administrative body’ by 31 December 2021 (compared to the previous version which provided for the resolution by the Shareholders’ Meeting).
Finally, little move DiaSorin (+ 0.10%) after announcing this morning that it has launched a new test for the rapid identification of mutations associated with Covid variants, including the Indian one.