Home Business Positive closing for Piazza Affari: ENI in the lead, TIM bad

Positive closing for Piazza Affari: ENI in the lead, TIM bad

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A cautious optimism returns to the markets on the hope that the new Omicron variant will be characterized by mild symptoms, even if the global alert has entailed harsh countermeasures by many countries.

The Ftse Mib index closed trading at + 0.73% at 26,041 points. Telecom Italia was also in the spotlight today (-1.96% at € 0.471) which reacted badly on the stock market to what emerged from the extraordinary board of directors on Friday. The Italian TLC has accepted the decision of CEO Luigi Gubitosi to hand over the powers to the board. Pietro Labriola, CEO of TIM Brasil, has been appointed general manager. The president Salvatore Rossi will have the responsibilities and powers relating to Partnership & Alliances, Institutional Communications, Sustainability Projects & Sponsorship, Public Affairs, as well as the responsibility of managing Tim’s assets and activities of strategic importance for the national defense and security system.

Among the banks, Intesa lagged behind (-0.63%).

ENI (+ 2.34% to 11.8 euros) led the rise in oil stocks in the wake of the rebound in oil after the 13% collapse on Friday. OPEC + will meet on Thursday to decide whether to adjust its plan to increase production by 400,000 barrels per day since January. OPEC + could consider suspending the increase in production in response to the spread of Omicron.

An increase of more than 1% in the 5 euro area for Snam which presented the new 2021-2025 plan with a vision for 2030 which envisages investments increasing to 8.1 billion (+700 million compared to the previous plan) and +4.5 Average annual% of EBITDA.

Little move Stellantis (+ 0.01%) which announced an agreement with Vulcan Energy for the supply in Europe of lithium hydroxide for batteries, to be used in electrified vehicles of the Stellantis Group. The five-year agreement provides for the start of shipments in 2026. Today Citi has restarted coverage on Stellantis with buy and tp at 23 euros.

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