Bitter Tuesday for Piazza Affari which follows the pronounced weakness of all the main world stock exchanges. The Ftse Mib closed down by 2.44% to 24,088 points sunk by banking and cyclical stocks in general.
Investors are returning to look with concern at the data on infections in some parts of Asia, causing fears of a postponement of reopening. Covid-19 results out of control with record numbers in India and Pakistan, two countries that are home to over 20% of the world population and over 14% of its GDP.
Banks knocked out: -5% for Unicredit, Banco and Bper
On the Piazza Affari parterre, the EU banking sector suffered the most, with investors returning to question the uncertainties linked to the economic recovery. Hopes for the recovery that in recent months had boosted the banking sector. Unicredit has come to sell over 5% below € 8.20.
However, the worst today was Banco BPM with -5.6% to € 2.253, closely followed by Bper (-5.38% to € 1.846). Bper yesterday concluded transactions for the sale of UTP secured portfolios for a total GBV of € 370 million, to which a further sale for approximately € 52 million will be added, currently being finalized. Banco BPM is also bad (-xxx%), while Intesa Sanpaolo limits the drops to -1.73%.
Among the other big names, the -4.66% of Leonardo under the 7 euro quota dfter the rally on the eve dictated by the expectations for an order from Greece linked to the 1.37 billion euro contract signed by the Greek country with Israel which includes the supply of 10 M-346s (Leonardo trainers). According to Equita SIM, this contract could be worth less than 400 million for Leonardo.
In the Agnelli galaxy, theover -4% of Stellantis and Exor. Oil was also bad: -2.4%, -3.55% Saipem and -4.4% Tenaris.
Refuge in defensive titles
Among the few more signs of the day on the Ftse Mib stand out only Amplifon (+ 0.88%), Diasorin (+ 0.97%) and Recordati (+ 0.13%) with the market returning to reward defensive stocks in a day when uncertainty dominated.
Decrease of 0.91% for Mediolanum Bank and 2% for Banca Generali on which Barclays has initiated coverage with an overweight recommendation for both. Barclays has a positive view on Piazza Affari’s asset managers by virtue of the flexibility of the models on the revenue front, the effectiveness of the networks and the improvement in operational leverage.