The stock markets are finding vigor today and Piazza Affari finds the right verve. The Ftse Mib returns to the 25,000 area, closing the week at 25,051.82 points, with a daily increase of 1.67%. The fears of a slowdown in the recovery that had contributed to the violent sell-off on the eve of the day, together with the prospect of a less accommodative Fed, are easing. Concerns remain in the background for the increase in Covid cases linked to the delta variant, even if the presence of vaccines makes scenarios of new restrictive measures of the same magnitude as past ones unlikely.
In Piazza Affari the banks are recovering with Banco BPM best stock of the day with + 5.8%. Stellantis also did very well (+ 2.8%), which yesterday announced investments of 30 billion euros in electric cars with the aim of reaching over 70% of its sales represented by low-emission vehicles by 2025. Sponda al The automotive sector today comes from the solid numbers released by Volkswagen, which released preliminary data for the first half with operating profit seen at around 11 billion euros, i.e. above the pre-pandemic levels under the pressure of strong demand in Europe and the United States.
Violent wave of sales in the afternoon on Amplifon which dropped 6.4% after the news of the presidential decree that will be signed today by Joe Biden. The decree is aimed at promoting competition in the markets and encourages stricter rules in order to avoid dominant positions in some sectors. The hearing aid industry is also in focus. The excessive costs that allow only about 14% of the 48 million Americans with hearing loss to use them, with an average cost of more than 5 thousand dollars per pair. The four main players in the sector control 84% of the market.
Finally, in partial recovery today Telecom Italia (+ 1.4% to € 0.391) which yesterday had to deal with the decision of the Antitrust to start an investigation regarding some clauses of the agreement between Tim and Dazn for distribution and the technological support relating to the contents of Packages 1 and 3 of the rights for watching Serie A matches in the three-year period 2021-2024. Meanwhile, today Equita analysts cut the rating on TIM from buy to hold (tp dropped from 0.5 to 0.42 euros), noting how the deterioration in price discipline and a price gap that has significantly widened between TIM and competitors, makes it difficult for TIM to maintain the slight growth trend of the fixed ARPU that the analysts of the Milanese sim had previously assumed (+ 1% CAGR) even with the contribution of the football offer.