Piazza Affari files a positive session after the misstep of the eve also dictated by the dividend detachment effect. At the end of the day, the Ftse Mib index recorded + 0.25% at 26,332 points. The optimism on the third quarter earnings season helped bolster investor sentiment. Today it was the turn of giants such as Procter & Gamble and J&J, both of which managed to beat expectations in terms of profits. Analysts expect the S&P 500’s earnings to show a 32% increase from a year ago (data from Refinitiv).
Today, among the big names in Piazza Affari, Enel’s rally stands out with over + 2.5% in the 7.08 euro area. To give impetus to the utility led by Francesco Starace are the new news coming from Spain with the government that would be ready to review the measures adopted to deal with the high-bill shock and that were going to hit the energy groups operating in the country . Enel is present in Spain with the subsidiary Endesa which represents approximately 30% of the group’s EBITDA.
Stellantis is down (-0.67%) which has entered into a new alliance on the battery front, this time with TheF Charging for the creation in Europe of a public charging network accessible to all electric vehicles.
Among the banks, the rally of Banco BPM stands out (+ 0.585%) which benefits from the rumor of the Financial Times that sees a stalemate in the negotiations on MPS between the Treasury and Unicredit. A failure of the operation could rekindle the spotlight of a possible assault by the Piazza Gae Aulenti group on Banco BPM.
Intesa Sanpaolo, on the other hand, was bad today with over -1.63% at 2.451 euros after the analysts of Banca Akros brought the rating on the stock from accumulated to neutral, confirming the target price at 2.5 euros. “We do not expect these results to be a driving factor for the stock”, underline the experts who after two very strong quarters expect a normalization of profitability for Intesa Sanpaolo in the third quarter, with a net profit of 780 million euros, not comparable neither with the third quarter of 2020, nor with the second quarter of 2021 which recorded tax benefits of 460 million for some intangible assets. Intesa’s quarterly accounts will arrive on 3 November.
Banca Mediolanum (-1.82%) and Poste Italiane (-1.09%) are also among the worst of the day on the Ftse Mib.