Full Tuesday ahead for Piazza Affari and the other world stock exchanges. Sponda at today’s rally comes from positive feedback from a new round of negotiations between Russia and Ukraine for the ceasefire. Moscow has promised it will drastically cut military operations near the Ukrainian capital Kiev and the city of Chernihiv. The Ftse Mib thus closed with a full-bodied + 2.41% at 25,307 points. Leading the increases are the banks with + 7.6% for Unicredit and + 5.7% Intesa Sanpaolo. Stellantis also did well among the big companies at + 6.64%, while oil stocks lost their share (-1.33% ENI and -2.73% Tenaris) in the wake of sharp drops in oil prices
Among the troubled utilities SNAM (-1.67%) which, according to what Il Sole 24 Ore reports today, has already identified a floting ship to be acquired to increase LNG capacity in Italy and reduce dependence on Russian supplies. The objective of the MITE would be to acquire two floating vessels, one of which could be leased. “This would be positive news for Snam because it would increase its regulated investments”, explains Equita, which estimates the possible acquisition cost at around 300-400 million euros.
Among the stocks that are paying today for the advance of glimmers of peace stands out Leonardo (-2.35% to 8.97 euros), among the best performers since the beginning of the Ukrainian conflict. Meanwhile, US President Joe Biden yesterday asked Congress to increase defense spending to 773 billion in the next fiscal year. A move that is added to those in the same direction announced by European countries such as Germany and Italy. For Leonardo, Equita analysts estimate the United States represent less than 20% of turnover excluding the GSE division recently sold by DRS to SES.
Finally, an interlocutory session for TIM (-0.12 %%) after the rally in the last few sessions. Today a board of directors was scheduled to provide information on the discussions with KKR and to analyze CVC’s non-binding proposal for a minority stake in TIM’s Enterprise business.