For Piazza Affari, the midweek session closes up, despite the weakness of Wall Street. To dominate in Milan, even today, was the season of profits with the accounts of two big names in the financial sector of the caliber of Intesa Sanpaolo and Poste Italiane. The day ended with the Ftse Mib at 25,490.22 points, showing a growth of 0.53%.
The best of the Milanese list was FinecoBank (+ 3.29%) which yesterday lifted the veil on growing financial results. After the accounts, Barclays analysts confirmed the equal weight recommendation on Fineco, with a target price rising by 5% to 16 euros. “Fineco’s results for the second quarter show solid confirmation and are consistent with our expectations,” say the British bank’s experts. Increases of more than 2% for B.also Bpm, DiaSorin and Stellantis. The latter still rides the positive half-yearly numbers released yesterday morning. “The impressive results of the first half, the update of the guidance and the declarations of the management during the conference call strengthen our confidence in Stellantis”, declared the analysts of Intesa Sanpaolo who confirm the purchase recommendation on the European car group but review the target price rose to 24.6 euros from 21.4.
Intesa Sanpaolo archives the day with an increase of 0.58%, in line with the Ftse Mib, on the day of the publication of the accounts. For the group led by Carlo Messina, the first half of 2021 ended with a net profit of 3 billion euros, up by 17.8% compared to 2.566 billion in the same period in 2020. In the second quarter of 2021 alone, the net result, equal to 1.51 billion, it beat the Bloomberg consensus which predicted a figure of 915.1 million. “The results of the first half of 2021 confirm Intesa Sanpaolo’s ability to effectively address the complexity of the context resulting from the Covid-19 epidemic and are fully in line with the achievement of 4 billion euros of minimum net profit for the year” , reads the note from the bank led by Carlo Messina.
The accounts of also arrived this morning Italian post (+ 0.76%). In the second quarter of 2021, the group led by Matteo Del Fante reported revenues of € 2.8 billion, an increase of 19% compared to the corresponding period of 2020, thanks to the recovery of the correspondence business which is added to an increase in parcels , while insurance and payments and mobile services rise steadily. Net income rose 36% to 326 million. Expected in the evening the intervention of the Minister of Economy, Daniele Franco, who will be heard in Parliament on the hypothesis of UniCredit-Mps integration.
Even today he remains behind the lines of the Ftse Mib Buzzi Unicem (-1.56%) and two big names in the oil sector, such as Saipem and Tenaris, were also weak and sold around one percentage point.
Closing down by about 1% also Atlantia. The company closed the first half with an Ebitda of 1.7 billion euros, up by 0.4 billion euros (+ 26%) compared to the first half of 2020, thanks to the positive trend in motorway traffic. Net profit amounted to 1.3 billion euros thanks to the capital gain from the sale of 49% of Telepass for over 1 billion and dividends from equity investments for over 0.4 billion. The half-year results of the group, we read in the note, are presented excluding the contribution of the Autostrade per l’Italia group following the signing of the agreement for the sale.