Piazza Affari is flat (+0.1%). On the All Saints holiday, the market spotlight is on the monetary policy decision of the Federal Reserve (Fomc), with investors expecting rates to remain at the highest levels in decades. The governor’s comments Jerome Powell will be carefully scrutinized to assess any further increases in the cost of borrowing in the future and how long rates will remain high.
Still on the subject of central banks, it should be noted that the new governor of the country takes office today Bank of Italy, Fabio Panetta, who takes the place of Ignazio Visco. In general, investors are looking for positive ideas, but concerns also remain about the conflict in the Middle East, US-China tensions on the technological front and the quarterly reporting season, perhaps less convincing than expected
TITLES
Iveco negative (-6%) closed the third quarter of 2023 with consolidated revenues of 3.8 billion euros (up 7% year-on-year), adjusted ebit of 213 million euros (up 112 million euros) and net profit of 94 million euros (47 million more). The net liquidity of industrial activities is 725 million euros. The financial outlook for the year 2023 is increasing with revenue growth of 8% to 9% compared to 2022 (was 5% to 8%)
That. The director of the Rome multi-utility, Thomas Devedjian, appointed from the list presented by the shareholder Suez International at the meeting of 18 April, has resigned.
Iren. The management board of Egea, a multi-utility from Alba, accepted Iren’s binding offer, with the consequent start of exclusive negotiations between the parties. From 1 January 2024, the Sienambiente company will be consolidated into the group for accounting purposes (40% share of the share capital held by Iren through the Iren Ambiente Toscana company) and will therefore be able to count on the synergies and resources of the group to carry forward the industrial plan.
Ifis Banking, Mediobanca. The long-term partnership signed last May for the management of non-performing loans (NPLs) has been finalized. In particular, Banca Ifis has completed the purchase from the Mediobanca Group, for a consideration of 100 million euros, of Revalea, a company created in 2022 from the spin-off of NPLs deriving from the acquisition of bad loan portfolios with a gross book value of 6. 5 billion1 euros.
Il petrolium, Instead. is on the rise, while concern about the conflict in the Middle East remains high: December WTI futures rise by 0.67% to 81.56 dollars a barrel, January Brent futures by 0.79% to 85.69 dollars.