Piazza Affari starts in the name of buy on the first trading day of November, benefiting from the positive trend of US futures on Wall Street and looking at the unleashed rally of the Hong Kong stock exchange, which jumped by 5.7%.
The Ftse Mib index accelerates to the upside and, after a start of 0.95% growth, advances by 1.5% to 22,990.32 points. The increases of Tenaris, Moncler, Campari, Eni, UniCredit stand out, while Pirelli is negative.
Today the meeting of the FOMC, the monetary policy arm of the Federal Reserve, starts in the United States, which will announce its decision on rates, tomorrow Wednesday 2 November: a press conference will follow in which helmsman Jerome Powell will speak. And it will be mainly what Powell says will affect the markets, equities and bonds.
The fourth consecutive rate hike of 75 basis points is, in fact, widely discounted: from the CME FedWatch tool, it emerges that traders are betting on yet another monetary tightening of three quarters of a percentage point with a probability of 80%. The hike should bring rates from the current range between 3% and 3.25% to the new range between 3.75% and 4%.
The hope of the traders is that the words of Jerome Powell portend less aggressive monetary tightening in the next FOMC meetings.
Outside the main price list, Mps is highlighted in Piazza Affari, which announced the results of the 2.5 billion euro capital increase, an operation that ended yesterday, Monday 31 October, after being game on Monday 17 October.
With a press release issued yesterday afternoon, MPS announced that “approximately 93% of the Capital Increase has already been signed or is the subject of binding commitments by institutional investors prior to the start of the auction of the unopted” .
This percentage may increase – Mps announced – “due to any further subscriptions, based on the Inopted Rights, which may be acquired during the auction to be held on 1 November and 2 November 2022 (except for early closure in case from
full sale of the Inopted Rights) “.
The auction of the unopted therefore kicks off today: the Sienese bank specifies that “the exercise of the Unused Rights and, consequently, the subscription of the New Shares, must be carried out through the authorized intermediaries adhering to the centralized management system of Monte Titoli SpA, under penalty of forfeiture, no later than 2:00 pm on November 3, 2022 ”. Concluding that “the communication on the definitive outcome of the Capital Increase will be provided to the public by BMPS by means of a specific press release by the opening of the market on November 4, 2022 and Euro 20 million as a sub-underwriter”.