Piazza Affari follows the rally of the last sessions that pushed the Milanese list to the top since 2008. The Ftse Mib closed the second session of the week with an increase of 0.24% to 26.201 points. Pending the important data on US inflation arriving tomorrow, the beacon among investors remains on for the Covid variants that are spreading in various countries. Notably, China has reported a new surge in COVID-19 infections in what appears to be its most severe resurgence of the virus since mid-2020 and some cities have added mass testing rounds in an effort to eradicate the infections.
Very negative indications today from Germany with the Zew index falling more than expected to 40.4 from the previous 63.3. Consensus estimates were for a less marked drop to 57 points. It is the third consecutive decline with investors seeing increased risks to the German economy in the event of a fourth wave of covid-19 starting in the autumn or slowdown in growth in China.
Among the individual shares of Piazza Affari, Saipem’s jump of more than + 2.6% stands out today, thus exceeding the 2 euro wall thanks also to the recovery of oil prices. Prysmian also did well (+ 1.36%), which climbed intraday up to € 31.76, reaching new all-time highs. Over the past 12 months, the stock has jumped almost 41 percent. Yesterday Prysmian announced the delivery of the record-breaking ship Leonardo da Vinci, an asset that joins the group’s current fleet of state-of-the-art cable-laying vessels and will allow a more efficient and sustainable execution of international projects for the development of smart and green electricity grids, supporting the energy transition. Valerio Battista, CEO of Prysmian Group, stated in an interview with Il Sole 24 Ore that at the end of the year, in the Projects division, turnover will be almost double last year thanks to over 1.2 billion orders in recent months . Battista remarked how the energy business will remain the center of gravity (in the first six months of 2021 it generated 271 million ebitda and 4.551 billion in turnover, returning to pre-Covid levels) and an important role also for telecommunications.
Moncler (+ 2.4%) and CNH (+ 1.67%) also did well today, while some banks suffered: -0.84% Banco BPM and -0.39% Bper.