Plus sign even today for the Milan Stock Exchange. The Ftse Mib index closed with an increase of 0.88% at 24,636 points, on the new highs of more than 13 months. The optimism on the expected economic recovery benefiting from progress on the vaccine front supports the equity markets. In particular, in the US, President Biden has declared that 90% of adults will be eligible to request vaccination by April 19; the announcement of the new US infrastructure plan is expected tomorrow.
Soaring today for Moncler (+ 2.91% to € 49.21). To give sprint to the title of the group of down jackets is the positive opinion arrived from Deutsche Bank. The analysts of the German business house have raised the rating on Moncler to buy from the previous hold. The target price has also been revised upwards, passing from 52 to 55 euros.
Convinced purchases also on Cnh Industrial, which increased by 4.34% to 13.465 euros in the wake of some rumors about Iveco. According to Bloomberg, citing unidentified people with knowledge of the facts, the Chinese at FAW would be progressing with due diligence to arrive at a potential offer for Iveco within the next few months, also evaluating the government’s requests.
In the Agnelli galaxy also sprints for Stellantis (+ 3.08%).
A decidedly positive day also for Unipol which at the end of the day accelerated to over + 3% in the € 4.80 area. To give impetus to the title of the Bolognese insurance company is the upward revision of the target price made today by Barclays. The British investment bank, which has an overweight rating on Unipol, has raised its target price from € 5.60 to € 5.90 and believes that there will be a positive review of the consensus estimates on earnings.
Banks also did well in an attempt to rebound after yesterday’s difficult day. Banco Bpm leads the sector’s rally with a progress of 2.21% close to € 2.50. Unicredit is also doing well (+ 2.01%), which does not pay the controversy linked to the mxi-compensation of 7.5 million euros to the new CEO Andrea Orcel scheduled for 2021. The consulting company Glass Lewis has invited to vote against the policy of the remuneration of the new CEO. In detail, Orcel will receive a fixed annual salary of 2.5 million euros along with a variable remuneration of up to double the amount (5 billion) in shares, according to documents released before the meeting.
At the bottom of the list, on the other hand, utilities with Enel down by 0.87%. From Spain there are rumors about possible unexpected charges for the subsidiary Endesa. El Periodico de la Energia reports that Endesa and the government of Catalonia have signed an agreement for the cancellation of the debt of over 35 thousand families in conditions of energy poverty, corresponding to an amount of 38.7 million euros. According to the article, the burden will be shared between Endesa (approximately € 28 million) and the government of Catalonia (€ 10.6 million).