Piazza Affari updates the highs for the period. The Ftse Mib closed today with + 0.86% at 23,694 points, on the highs of around 5 months. Investors look to the US midterm elections with the risk that a Republican victory in the two houses of Congress will result in a legislative impasse and a new US debt ceiling crisis. “The relative peace of mind on the data and earnings front means that investors will focus on tonight’s elections, before focusing on reading the US inflation forecast for Thursday,” argue IG experts.
Exploit today for CNH (+ 5.73%) Industrial which raised the 2022 guidance by expecting net sales revenues to grow between 16% and 18% compared to the previous year. The third quarter of the year beat expectations with adjusted EPS at € 0.41 per share compared to the 0.32 of the Bloomberg consensus. Consolidated revenues amounted to 5,881 million dollars (+ 23.9% compared to the third quarter of 2021 for Continuing Operations, + 29% at constant currency). The Italian-American giant closed the third quarter with a net profit of $ 559 million, up from $ 460 million in the same period of 2021.
Recordati also did well (+ 1.53%), which revised its 2022 guidance upwards, estimating an Ebitda of around 670 million euros.
On the other hand, Bper’s decline of 7.68% to € 1.893 stands out, which last night released the quarterly accounts. The Emilian bank closed the first nine months of the year 2022 reporting a consolidated net profit of € 1.466 billion, an increase of 150% compared to the 586.2 million of the first nine months of 2021. In the third quarter profit is 82 million and the interest margin of 475 million (+ 2% qoq). “3Q22 results higher than expected mainly due to higher NII”, remark the Equita analysts who revised up the target price on Bper by 9% to 2.5 euros.
TIM retraces (-2.18%) recovering from the 10% jump of the previous day in the wake of positive expectations on the single network front. The government is expected to proceed between Thursday and Friday meetings with the leaders of the CDP, Vivendi and Tim on a plan for the single network called Minerva to keep its ownership public.