Thursday, July 25, 2024

Italian Stock Exchange, suspension of the session of October 26, 2023

Date:

The central institution decided not to change interest rates. Strong declines for Saipem and Campari stand out after the quarterly report. On the other hand, STM is on the rise

The main indices of the Italian Stock Exchange ended the session In positive territory yet European Central Bank decisions on monetary policy. The central institute decided Interest rates do not changeConfirming the reference rate of 4.5%.

the Ftsimib It closed at an increase of 0.29% at 27,508 points, after oscillating between a minimum of 27,078 points and a maximum of 27,586 points. the FTSE Italy All Shares rose 0.21%. However, the minus sign for FTSE Italy Mid Cap Index (-0.61%) and for FTSE Italy Star Index (-0.32%). In the session of October 26, 2023, the value of trading increased to 2.43 billion euros, compared to 1.96 billion on Wednesday.

the Bitcoin It was returned to $34,000 (less than €32,500).

the Btp-bond spread And consolidate at 200 points with The return of BTP for ten years Which exceeded 4.85%.

to’euro It fell below $1,055.

Saipem 5.32% remained on the ground at 1.3355 euros. Launched the engineering company Financial results for the first nine months of 2023The period closed with an improvement in trading volume and profitability; The final result was positive. Consequently, management confirmed the financial targets for 2023. Furthermore, Saipem’s Board of Directors decided to submit a proposal to the shareholders’ meeting for approval to allow the conversion into ordinary shares of the equity-linked bond loan with a nominal value of EUR 500 million. Therefore, a capital increase proposal will also be submitted for approval, to service the bond loan conversion.

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Bad session too Campari (-6.78% to €10.31). The company issued Financial statements for the first nine months of 2023, closed the period with improved revenues and mixed profitability. Management confirmed flat EBIT margin guidance on net sales in 2023 at the organic level.

Some ideas from banking sector stocks.

Intesa San Paolo It gained 0.59% to 2.37 euros. The institute announced that the exceptional tax calculated on the increase in the interest margin amounts to about 828 million euros. Accordingly, the Board of Directors decided that it will propose to the Assembly, when approving the financial statements for the year 2023 and allocating the year’s profits and distributing profits to shareholders, allocating an amount equivalent to the non-distributable reserve of approximately 1.99 billion euros, which is equivalent to 2.5 times the amount of the tax related to the parent company, which is equivalent to About 797 million euros.

Also in progress unicredit (+1.47% to 22.825 euros). S&P Global has improved the institution’s standalone credit profile, raising it from ‘bbb’ to ‘bbb+’, one step above Italy’s sovereign rating. The credit rating of the UniCredit issuer remains linked to that of the Italian Republic at ‘BBB’.

Better performance for Monte dei Paschi di Siena (+2.6%).

Great performance for STM (+4.97% €38.97). The Italian-French group contacted T Financial results for the third quarter of 2023, closed the period with an increase in revenue, and better results than management estimates. The leaders of the Italian-French group also presented some financial estimates for the current quarter and for the entire year 2023.

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Stellantis It suffered a decline of 0.6% to 17,672 euros. The automotive giant announced that it intends to invest approximately 1.5 billion euros to acquire a 20% stake in Leapmotor. The agreement also includes the creation of Leapmotor International, a 51-49 joint venture led by Stellantis, with exclusive rights to export, sell and manufacture Leapmotor products outside the China region.

Shy recovery for Nxy (+0.95%) after the large correction it suffered in the previous session.


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