Interlocutory session for Piazza Affari after the start of the November sprint. The Ftse Mib scores -0.06% at the end of the day at 27.189 points. Among the Milanese blue chips, Recordati’s + 2% stands out, while STM also does well (+ 1.45% in the area of € 41.73), which returns to its multi-year highs. Among the banks, both Banco BPM and Bper perform well with over + 1.8%. Well bought Intesa Sanpaolo (+ 0.68%) which tomorrow will release the accounts for the third quarter.
New shot today for Ferrari (+ 1.19%) which at the end reached new historical highs at 213.3 euros. Ferrari closed the third quarter of 2021 with net revenues of 1,053 million euros, up by 18.6% (+ 20.7% at constant exchange rates). 4% compared to the previous year and with an EBITDA margin of 35.2%. In the third quarter of 2021, EBIT was 270 million, an increase of 21.8% compared to the previous year and with an EBIT margin of 25.7%. The consensus indicated adj ebitda at 360.3 million and adj ebit at 242.9 million. La Rossa revised its 2021 guidance upwards and the Vigna CEO confirmed the presentation of the first electric Ferrari in 2025.
Telecom Italia, on the other hand, was bad (-1.22% at € 0.3064) at the new annual lows. The tensions that emerged after the disappointing accounts in the third quarter and the request by the French of Vivendi, leading shareholders with 23.7% of the capital, are once again holding the spot for a change of course. The directors expressed by Vivendi and some independent directors downstream of the BoD last week asked for the calling of a new BoD for November 11 to review the strategies of the group. The new meeting could arise from the need to continue strategic assessments, which probably have not fully convinced all the members of the Board of Directors or require further clarification.
Worse did ENI (-1.62% to 12.54 euros) thanks to the drop in oil prices and the negative market reception of the British BP’s quarterly report. Meanwhile, today Intesa Sanpaolo has revised towards the target price on ENI which goes from 11.5 to 14.5 euros. “We expect the share price to be supported by oil prices, which we believe should maintain this price level in 2022. Eni’s commitment to the renewables business could be another catalyst for the stock”, remark from Intesa.