Following a partially improved session in the final after the confirmation of Jerome Powell at the helm of the Federal Reserve, the European stock exchanges start with a minus sign. After all, yesterday the “Powell effect” soon vanished even on Wall Street, which closed on parity in a week shorter than usual (Thursday, November 24, the American stock market is closed for Thanksgiving and Friday 25 will only be open half day). To weigh down the mood of European investors there is yet another worsening of the health situation, with the increase in cases of Covid-19 and the risk of further lockdowns, after the one that started in Austria: The German Health Minister said he “Not being able to exclude” new lockdowns.
In this context, the eyes today will be turned on the SME indices of France, Germany, Great Britain, Eurozone and the United States: they will in fact be useful to understand if the “sentiment” of the purchasing directors of the companies and therefore of the companies themselves is changing in this context. context of growing uncertainty.
The Telecom case
In Italy the focus of the market remains on the Telecom Italia case, after the news that the US Kkr fund is ready to launch a takeover bid. In the session of Monday 22 November the stock rose by 30.24%, but closing at € 0.451 it remained well below the price of € 0.505 at which Kkr could launch its takeover bid. This means that the market still sees a lot of uncertainty in this game, despite the apparently positive attitude of the government. However, the Telecom Italia stock remains under special surveillance also on the Stock Exchange, as well as that of Inwit (the towers).
Juventus bad after ok on conditions increase from 400 million
Minus sign for Juventus Fc, after the go-ahead from the board of directors to the final conditions of the 400 million euro capital increase. The new shares will be offered in option to the current shareholders in the ratio of nine shares for every 10 held at the subscription price of € 0.334 per share, to be attributed as regards € 0.01 to share capital and € 0.324 to the share premium. The subscription price of the new shares subject to the option offer, underlines a note released yesterday night, thus incorporates a discount of about 35.32% compared to the theoretical price ex right (Terp) based on the closing price of the Stock Exchange. of yesterday
Oil fell, with the January WTI contract down 1.19% to $ 75.84 a barrel and the Brent contract of the same maturity by 0.87% to $ 79.01. Finally, on the currency the euro remains below the threshold of 1.13 dollars and changes hands at 1.125 dollars (1.1278 yesterday at the close) and at 129.17 yen (from 128.69). The dollar / yen exchange rate is at 114.81.