Thursday without polish for Piazza Affari that does not follow the Wall Street records (S&P 500 above the 4,200 points threshold) in the aftermath of the record accounts of Apple and Facebook. Data on GDP have also arrived from overseas and the American economy confirms the expectations of economists. Thanks to the speed of anti-Covid vaccinations, which allowed some US activities to reopen safely, the US gross domestic product rose by 6.4% in the first three months of 2021.
The European stock exchanges, on the other hand, paid today the reverse of the car (over -2.5% the Stoxx of the sector). The Ftse Mib closed -0.74% at 24.278 points.
Among the big names in Piazza Affari, Stellantis dropped by 3.81%, which today announced the sales figures for the first quarter which see the new group born from the merger between FCA and PSA leading in Europe 23.6% for sales including passenger cars and light commercial vehicles.
Among the big companies, Enel continues its negative moment, scoring -1.3% in a session that saw the yield of the ten-year BTP update the maximum to over 7 months.
Very bad also today Saipem at almost -5% following the strong drifts of the eve caused by under-expected accounts and high risk 2021 guidance.
At the end of the Ftse Mib there is Tenaris at -6.78% with a cold reception from the market to the quarterly accounts. The turnover was 1.18 billion against 1.2 billion expected, the adjusted EBITDA at 201mn against the 210mn expected, the EBITDA margin adj at 17% against the 17.4% expected. As for the outlook, Tenaris expects a further recovery in turnover and EBITDA in the coming quarters largely driven by North America. No specific indications on the margins of the second quarter even if Equita estimates that the starting point could be 19% on a growing turnover.
Sales after the accounts of the first quarter of 2021 also for Amplifon (-3.48% to 34.67 euros). Amplifon reported revenues up by 22.9% to 440.9 million euros (+ 21.3% at current exchange rates). Ebitda rose to 96.6 million euros, up 48.9% compared to 2020 and 22.3% compared to 2019, and net profit on a recurring basis stood at 25 million, almost five times higher than the 5.1 million euros in the first quarter of 2020 and up by 33.1% compared to the 18.8 million in the same period of 2019.