Home » Piazza Affari flounders after a thud Wall Street, over -2% Intesa Sanpaolo and ENI

Piazza Affari flounders after a thud Wall Street, over -2% Intesa Sanpaolo and ENI

by admin

The inflation bugbear is making itself felt today on the mood of Piazza Affari. In Milan, the Ftse Mib index marks -1.49% 24,088 points with almost all stocks in decline (only Diasorin is saved with + 0.5%).

Yesterday, US inflation hit + 4.2% in April, the highest rate in 13 years, fueling fears of a tight Fed as early as next month. Wall Street took the hit with Dow Jones and S&P 500 dropping around 2%.

Among the big names in Piazza Affari, the marked drops in Eni (-2%) and Tenaris (-3.3%) following the drop in oil should be noted. Banks are also bad: over -2% Intesa Sanpaolo, -1.56% Unicredit and -1.3% Bper. Last night Moody’s revised the ratings and outlook of ten Italian banks, justifying its decision with the recovery of Italy’s GDP, expected at a rate of 3.7% in 2021 after the 8.9% decline triggered by the Covid-19 pandemic.

The outlook of Intesa SanPaolo, Banco BPM, Bper, Mediobanca, Credem, FCA Bank, Bnl and Cassa Centrale Banca has been improved to “stable” from negative. The outlook on UniCredit is confirmed as “stable”.

The testimonials of managed savings are also in trouble with -3.3% for Banca Mediolanum, -2.7% Banca Generali and -2.21% Azimut.

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