Negative session on the Milan price list
The FTSE MIB index closed the day at 27,710.5 points, with a decrease of 0.72% and recording the worst performance among the European stock exchanges. It’s all the fault of the sales on managed savings that have ballasted Piazza Affari. Fineco and Banca Generali lost 4%. In Frankfurt the Dax40 closed flat (+0.01%) and in Paris the Cac40 fell by 0.12%. London marks a drop of 0.62% to 7,880.90 points, Madrid falls by 0.48% to 9,421.03 points.
Once again the concerns generated by Wall Street prevailed on the stock exchanges of the Old Continent. In particular, investors fear the upcoming monetary tightening by central banks and are waiting to know the numbers of the US labor market, which will be released tomorrow. As if that weren’t enough to fuel the volatility on stock prices, in the last week, claims for unemployment benefits in the US rose to their highest since Christmas, at 211,000, when expectations were for a figure of 195,000 from 190,000 the previous week.
Best in Piazza Affari
PRYSMIAN[[
Closes up 3.14%. It’s best blue chip. The largest cable manufacturer in the world closed 2022 with a gross margin up 52.5% and a clear improvement in margins (to 9.3% from 7.7%), thanks to the boost from the energy transition, electrification and digitization.
STM
Closes up 1.1%. Akros confirm the Accumulate recommendation and the TP at 48 €. For analysts, the improvement of the Outlook by Moody’s is positive news, even if STM has no need for refinancing for the moment given the positive net financial position and positive cash flow.
THE WORST
BUZZI ONLY
Closes down 4.5% on the news that the Ukrainian National Agency for the Prevention of Corruption (NAPC) has decided to blacklist the cement group for its activities in Russia, according to traders.
DIASORIN
Loss of €2.87, Bnp Paribas cut rating to Underperform, from the previous Neutral.
FINCANTIERI
It drops by 5.9%. Equita reduced the target price from 0.49 euro to 0.47 euro, Hold judgement.
CURRENCIES AND ENERGY
On the currency market, the euro is trading at 1.0579 dollars (1.0554 at the start and 1.0557 at yesterday’s close).
As for oil, the contract delivers May on Brent rose 0.47% to 83.05 dollars a barrel and that deadline April on Wti by 0.59% to 77.11 dollars a barrel.
Finally, on the Amsterdam Stock Exchange the price of gas gains 6% to 44.9 euros per megawatt hour.