MILAN (Reuters) – Stocks fell for Piazza Affari, weighed down by the distribution of dividends by some large companies, among stock markets with little movement in both Europe and the US.
Today kicks off a key week for quarterly results – from big American tech companies to some large European banks – which investors are eagerly awaiting to understand how to orient themselves in an uncertain context, marked by fears of recession on the one hand and macro data often better than the expected by the other.
Bank coupon detachment Mediolanum (BIT:), Banco BPM, Campari (BIT:), CNH Industrial (BIT:), Ferrari (BIT:), Prysmian (BIT:) and Stellantis (BIT:) weigh on 1.36%, says a trader who otherwise speaks of a market lacking in ideas also in the light of the half-year weekend of April 25th. Outside the main basket today Edison, Maire Tecnimont and Piaggio also detach the coupon.
Around 16.40 the FTSE Mib dropped 0.74%. Volumes around 1.25 billion euros.
Among the featured titles:
Ideas on STELLANTIS, up 2.2%, recovering from last Friday’s decline, while the European sector is slightly negative.
Bank collections with BANCO BPM (BIT:) up by over 2%. In view of the quarterly report on May 8, Equita confirms the “buy” judgment. “We expect a solid quarter,” says the broker, underlining how the stock trades at attractive valuations. “In addition, we see a growing speculative appeal on hypotheses of consolidation of the sector,” she adds. UNICREDIT (BIT:) rises by 1.7%, while MPS (BIT:) loses 1.2%.
Lively BPER at +1.9%. “We expect Bper (BIT:) to update the guidance provided with last year’s results, which was based on conservative assumptions on the interest rate front”, comments Equita who raised the target price by 5% to 3, 5 euros pending a “very strong” quarterly interest margin.
INTESA SANPAOLO (BIT:), which will report its results on May 5, rose by 1%, with Equita (“buy”) expecting an upward revision of the guidance.
The flow for sales on TELECOM ITALIA (BIT:) (-0.9%) does not stop, in its fourth consecutive negative session, always at the mercy of the uncertainties related to the network sale plan.
Money on ENEL (BIT:) (+1.6%) which today benefits from the promotion of Citigroup (NYSE:) to ‘buy’ from ‘sell’ with a target price of 6.5 from 4.5 euros. According to Citi, the group’s debt reduction plan will help improve the balance sheet and maintain dividends.
Well TENARIS (BIT:) (+2%) while the recovery continues to rise.
JUVENTUS (BIT:) down 2.5% after the league defeat at home to Napoli. LAZIO (BIT:) is also weak (-1.9%).
Finally, ALGOWATT runs with a leap of more than 11%. The company has signed a new two-year agreement with a “primary credit institution” for the remote control and maintenance of the headquarters’ assets.
(Claudia Cristoferi, editing Andrea Mandala)