On the eve of the ECB, Europe puts aside, albeit temporarily, the fears related to the Delta variant and rebounds strongly thanks also to the good performance of Wall Street and the US quarterly reports. After the black day on Monday and the partial recovery yesterday, all European lists closed with substantial increases (Milan + 2.36%) – dragged by cyclical sectors such as travel, energy and banks – waiting for the Frankfurt verdict, from which anyway experts expect confirmation of the ultra-expansionary monetary policy. The BTP-Bund spread also did well, falling and settling at 108 basis points; blaze of crude oil with the WTI reaching $ 70 thanks to a gain of almost 4%.
In Piazza Affari, the best in Europe with Madrid, the industrial sector is highlighted with Leonardo – Finmeccanica, Pirelli & C and Stmicroelectron which all show increases close to 4%: the tech group is favored by the improvement of the guidance of the Dutch supplier Asml. The best is Unipol (+ 4%). Focus obviously on Mediobanca, which closed at + 3.2% after the blitz of Caltagirone which, between shares and options, holds over 5% of the bank which is the largest shareholder of Generali (+ 2.2%). At the bottom of the list of defensive stocks such as utilities. Outside the FTSE Mib, Retelit drops again and closes at 2.86 euros, practically in line with the price of the Asterion takeover bid yesterday judged “congruous” by the board of directors of the tlc company.
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On the currency, the euro changes hands at 1.179 dollars (from 1.1775 yesterday at the end of the session). The single currency is also worth 130.09 yen (from 129) while the dollar / yen ratio is at 110.3 (109.8).
At Piazza Affari, all eyes are on Mediobanca
At Piazza Affari, investors turned the spotlight on Mediobanca, after Francesco Gaetano Caltagirone rose to around 5% of the share capital. The market questions Caltagirone’s projects, taking into account the fact that it is also the first private shareholder of Generali, with a 5.6% stake. However, he had not participated in the last insurance budget meeting in parallel with the rise of tension with the management of Leone and with Mediobanca itself, in turn the largest shareholder of the Leone di Trieste, with a stake of around 13%.
Meanwhile, it should be remembered that in recent weeks even Leonardo Del Vecchio, another strong partner of Leone, had increased his stake in Mediobanca to 19%, a breath away from the 19.99% authorized by the ECB.