Negative sessions for BPER Banca, BancoBPM, and STM try to limit liabilities: Market Update

The major indices of Borsa Italiana and the main European financial centres are confirmed in negative territory in the last session of the week. Philip Diodovich – senior marker strategist di IG Italy – he signaled that the four main economies of the Old Continent have shown contrasting data on GDP growth. Consequently, the expert does not exclude that the disappointing data, especially in Germany, could ease the pressure from the more hawkish members within the Governing Council for substantial increases in the cost of money (50 basis points), even if the fight against inflation is not it still ended due to the persistence of core inflation (excluding energy and food) at high levels. “We believe that the ECB may favor an increase in short-term interest rates by 25 basis points at its next meeting in May, confirming the possibility of further increases if necessary”, speculated Filippo Diodovich.

At 14.05 the FTSEMib it was down 1.53% to 26,742 points, after fluctuating between a low of 26,668 points and a high of 27,283 points. At the same time the FTSE Italia All Share lost 1.39%. Minimum rebates for the FTSE Italia Mid Cap (-0.18%) and for the FTSE Italia Star (-0,06%).

Il bitcoin it stands at under 29,500 dollars (just over 26,500 euros).

Lo spread Btp-Bund it remains below 190 points, with the yield on the ten-year BTP returning to over 4.25%.

L’euro it is confirmed below 1.1 dollars.

ENI try to limit the downside (-0.25% to 13.448 euros). The oil giant communicated i financial results for the first quarter of 2023, a period in which the oil giant was affected by lower production realization prices due to the decline in the reference prices of oil and natural gas. The management confirmed the financial and operational indications for the whole of 2023 and the shareholder remuneration policy (dividend and buy-back).

Sales on banking sector stocks are back.

BPER Bank it lost 4.11% to 2.543 euros. The institute announced that it has concluded a sale transaction of a UTP credit portfolio of BPER Banca and its subsidiary Banco di Sardegna for a collectible value of approximately 470 million euro.

Similar performance for the BancoBPM (-4,29% a 3,68 euro). From the periodic communications released by Consob we learn that on 24 April 2023 Norges Bank reduced its stake in the bank’s capital from 3.317% to 2.897%.

Intesa Sanpaolo also bad (-4.07% to 2.358 euros). The institute’s shareholders’ meeting approved the 2022 financial statements and the related dividend, formalizing the proposal of the Board of Directors.

UniCredit (-4.72%) is in line with the sector trend.

STM can’t bounceafter the heavy downturn suffered in the previous session. Shares drop 0.93% a 38,25 euro.

All’Euronext Growth Milan focus su Ecomembrane, on the day of its debut in the price list dedicated to dynamic and competitive SMEs. The title it is unchanged. The company’s shares were placed at 8.5 euros, with an initial capitalization of 36.5 million euros.