Piazza Affari smiles at the end of the eighth. The Ftse Mib closed at + 0.64% at 24,558 points in a day that sees Wall Street move cautiously with Treasury rates hitting new heights on the possibility that the Fed will be more aggressive in raising the cost of money in the next two meeting. Bank of America expects a monetary tightening of 50 basis points in the coming meetings. On the energy crisis front, today the agreement between the US and the EU has arrived to reduce Europe’s dependence on energy supplied by Russia. At least 15 billion cubic meters more of LNG (liquefied natural gas) will arrive from the United States to Europe this year; Under the agreement, the United States will also guarantee supplies to meet EU demand for liquefied natural gas (LNG) of 50 billion cubic meters per year until 2030.
In Piazza Affari even today TIM made the big voice with + 1.81% to 0.3323 euros. According to what Il Messaggero has indicated, the dialogue between Tim and CdP for the creation of the single network should resume shortly. In this regard, a non-disclosure Agreement is envisaged on 1 April which should be followed by a Memorandum of Understanding with a path that should be completed between the end of 2023 and the beginning of 2024. On the other hand, on the single network issue, Kkr seems to have replied that be against it, because it is a move that still generates value, even if it reiterates that it has not been included in the valuation due to the uncertainties linked to the risk of carrying out the project. Meanwhile, various press sources already hypothesize for today an expression of interest by CVC and Vivendi. In particular, CVC would be interested, as confirmed yesterday, in the Enterprise part of the ServCo.
On the opposite front, a session to forget for Saipem (-2.47%) which presented an update to the 2025 plan and the 2 billion euro capital increase. The Italian oil services group expects to achieve 15% annual revenue growth between 2021 and 2025 and an adjusted Ebitda of over 0.5 billion in 2022 and over 1 billion in 2025. in a capital increase of 2 billion, which is expected to be completed by the end of the year. The shareholders Eni and Cdp have undertaken the commitment to underwrite a total of approximately 43% of the capital increase, in proportion to the shareholdings held.
Among the other Milanese blue chips, we note the liveliness of Terna (+ 3.55%) which repeats the rises of the eve following the release of the new business plan. Campari also did well with over + 3% and ENI with + 1.13%.