Piazza Affari files the penultimate session of the week with a decidedly more cautious tone than the other European lists. In Milan, the Ftse Mib index ended the day with a drop of 0.29% to 24,805 points, compared to yesterday’s close at over + 1%.
A session that saw the utilities of Piazza Affari slide: among the worst Snam (-3.25%) and Terna (-2.31%). On the other hand, in the way of increases, the undisputed star of the day was Saipem (+ 11.8% to 1.26 euros). After the profit warning launched at the beginning of the year, today Saipem positively surprised the market with the publication of the accounts for the first quarter which show a higher than expected Ebitda, increasing orders and a net loss that has decreased more than expected. Equita believes that “the better than expected set of results and the confirmation of the guidance could have positive implications for the stock considering the events of the last few months. However, the capital increase remains a significant ‘overhang'”. Pirelli is also positive (+ 2.63%) which is supported by the indications coming from the German Continental which has revised downwards, but the forecasts for 2022 are less than expected.
Even today, attention went to the Banco Bpm stock which recorded + 0.95% after yesterday’s jump of 5% in the wake of Mediobanca Securities’ promotion to outperform, with the new target price of 3.6 euros. . Today the rumors of “Il Messaggero”, reported by Equita, which refer to the possible moves that the bank’s consultation agreement could decide to launch, following the acquisition of 9.2% of the capital of Piazza Meda from part of the French of Crédit Agricole.