Home » Piazza Affari closes in a sprint, Pirelli the best with + 11%

Piazza Affari closes in a sprint, Pirelli the best with + 11%

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Piazza Affari closes in a sprint, Pirelli the best with + 11%

Piazza Affari in great shape in the last weekly session. The Ftse Mib closed + 2.54% at 23,282 points, on the highest levels since June. US non-farm payrolls in October showed a still healthy labor market (+261 thousand compared to the +205,000 consensus units), dispelling fears of a recessive spiral following the series of rate hikes by the Fed.

In Milan today the luxury titles are doing well (+ 7.4% for Moncler) on the hopes that China will ease the limitations on the Covid front and on the rumors that see the giant Kering in advanced negotiations for the purchase of the fashion brand Tom Ford.

At the head of the Ftse Mib stands Pirelli (+ 11%) thanks to quarterly numbers beyond expectations. Intesa Sanpaolo was also positive (+ 4.84% at € 2.065) which reported a quarterly profit beyond expectations.

On the opposite front, Leonardo’s drop of more than 7.7% stands out, which last night released the accounts for the third quarter with orders and net profit higher than expected. The 2022 guidance has been improved for orders and net debt.

Positive reaction to the quarterly numbers also from Enel (+ 2.3% to € 4,679). Numbers in line with expectations with stable Ebitda and strong growth in NFP. The 2022 guidance was confirmed as regards Ebitda (19-19.6 billion vs 18.7 expected), Nfp (58-62 billion vs 64 billion exp) and dividend (0.40 euro per share with 0.2 interim euro in payment in January). On the other hand, the guidance on profit has been reduced to 5-5.3 billion (vs 5.6-5.8 billion previously).

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