Piazza Affari puts aside the uncertainties of last week and marks a convinced rally at the beginning of the week. The Ftse Mib closed with a jump of 0.93% to 25,925 points. This week the attention of operators will be focused mainly on the figure relating to US inflation in August, which is expected to remain at growth levels similar to those of July (+ 5.4% per year, top since 2008) with the increase driven once again. especially from the energy and food component. Among the other data arriving in the coming days, focus on the publication of industrial production and US retail sales.
Among the big shots at + 2.48% in the € 10.806 area for Eni and at + 1.68% for Enel, the most important stock on the Milanese list and the one that has done worse since the beginning of the year (over -9% YTD). In the run up to + 2.67%, Banca Generali updates the absolute maximums with an intraday top of 38.95 euros.
Among the banks, over + 2% for Intesa Sanpaolo which called the shareholders’ meeting for October 14 to give the green light to the distribution of part of the extraordinary reserve for the 2020 results equal to over € 1.93 billion, that is 9.96 cents for each ordinary share.
Among the hot topics of the day, Generali Assicurazioni certainly stands out (+ 1.26% to € 17.65). Builder Francesco Gaetano Caltagirone and Luxottica founder Leonardo Del Vecchio, who together own about 11% of Generali, have reached an agreement to work together towards “more profitable and effective management” of the Italian insurer. The board of Generali meets on September 27 to discuss the presentation of a list of directors to be submitted to the vote of the shareholders next year. If the board list does not represent a strong discontinuity, the two Italian entrepreneurs could present an alternative list without Donnet as CEO.
On the opposite front, a session to forget for Amplifon (-4.19% to € 41.31) which reacted badly to the dissemination of strategic guidelines and financial objectives for the three-year period 2021-2023. 2021 guidance confirmed (which had been revised upwards after the 2nd quarter accounts), while for 2022 and 2023 the group expects an increase in consolidated revenues, on a like-for-like basis equal to a high average annual compound rate (CAGR) single digit. The global leader in hearing solutions and services aims to expand EBITDA margin on a recurring basis to at least 25.5% in 2023 and also expects a continuous increase in net earnings per share over the three years, driven by greater leverage operational, even after financial charges estimated at around 30 million euros per year and an expected tax rate in line with recent years. Finally, for the three-year period 2021-2023, Amplifon aims to generate a cumulative operating cash flow of over € 1 billion.
Worse did Diasorin with a -4.61% which pushed the title back below the 200 euro wall.