Positive pitch at the start of the octave for Piazza Affari. The Ftse Mib index closed + 0.7% at 24,808 points, following the substantial rebound of last week. Today, with Wal Street closed for Memorial Day, another boost to positive market sentiment comes from the news that Shanghai authorities will lift many restrictions by easing the lockdown that has been going on for about two months. Today Wall Street will be closed for Memorial Day.
Among the blue chips of Piazza Affari we note the rally of TIM with + 3.14% to 0.2892 euros. The agreement for the launch of the single TIM-Open Fiber network gives sprint to the title of the largest Italian telecommunications network. CDP Equity, Teemco Bidco (a Luxembourg company controlled by one or more funds managed by KKR), Macquarie Asset Management, Open Fiber and TIM, have signed a non-binding memorandum of understanding (Memorandum of Understanding) relating to the integration project between the Tim and Open Fiber.
Moncler also did very well (+ 4.18%), benefiting from the easing of Covid restrictions in Shanghai. Stellantis is also up (+ 1.83%) which has signed a new agreement with Toyota Motor Europe on large commercial vehicles for the European market which will also have an electric battery version.
Banco BPM did well today (+ 1.19%). According to the latest rumors, the conditions for any wedding between Banco Bpm and Credit Agricole would now exist, even if the French would not have any other steps in the capital planned in the short term and a possible approach to the Italian bank is not imminent.
Among the banks, purchases also on Intesa Sanpaolo (+ 0.61%) and Unicredit (+ 0.91%). Goldman Sachs has restarted hedging on both securities with a buy rating and target price of € 18.50 for Unicredit and € 3.25 for Intesa Sanpaolo, respectively.