Waiting for the ECB on Thursday and the quarterly reports of the big names in Piazza Affari, the Ftse Mib today updates the highs to 13 years. Today Wall Street travels to new all-time highs and continues the optimism dictated by the positive round of quarterly. In Europe today the numbers of UBS are good. The Swiss banking giant reported a net profit of 2.28 billion dollars compared to the 1.55 billion expected from the consensus with commissions from the private banking division jumped by 23%.
The Ftse Mib thus updated the 13-year highs, closing at 26,970 points, up by 0.58%. In the morning the Milanese guide index had gone up to 27,049 points.
The first quarterly reports between the Ftse Mib companies are scheduled today, with the numbers of Campari and Italgas. In the next few days it will be the turn of the big names (tomorrow the boards of Mediobanca, Telecom Italia and Unicredit, on Thursday those of ENI and Stellantis).
Among the stocks of the Ftse Mib today stands out the new rise of Ferrari – already in evidence yesterday – with + 0.4% in the 200 euro area, on the new all-time highs (touched a little in intraday at 208.3 euro).
New absolute tops also for Poste Italiane which reached a peak at 12.675 euros (+1.325). In view of the accounts of 11 November, yesterday Barclays confirmed an overweight on the stock with a target price of 14 euros. “In view of the third quarter, we keep the EPS 2021-2025 estimates almost unchanged with a reduction in insurance revenues offset by lower personnel costs. We do not expect a significant revision of the business plan,” says Barclays.
Among asset management securities, new record levels for Banca Generali (+ 1.06%) which during the session had also gone beyond 41 euros.
An increase of 1% for Telecom Italia whose board of directors will meet tomorrow in the third quarter accounts. Meanwhile, the subsidiary Tim Brazil released accounts slightly below expectations due to the slowdown in fixed income. “Overall, the results appear consistent with our 2021 estimates (service revenues + 5.4%, Ebitda + 5%) which we see can be confirmed”, say from Equita.
Saipem bad today (-2.21%), while ENI recovered in the second part of the day (+ 0.65% to 12.358 euros) in the wake of Bloomberg’s indiscretion of a possible valuation between 12 and 15 billion euros in the listing of its retail and renewable unit scheduled for 2022. In ENI’s plans there would be the maintenance of a majority stake in post-IPO R&R and the listing should take place on the Italian Stock Exchange.
Finally, Campari was in trouble (-4.21% to € 12.395) which at the start had updated the all-time highs. The stock of the beverage group then reacted badly to the accounts which showed revenues of 1,575.7 million euros in the first 9 months of 2021, with an organic change of + 27.3% compared to the first nine months of 2020. In the third quarter net sales rose 12.8%. Group pre-tax profit adjusted rose to 343.3 million (+ 56.1%) over 9 months.