European stock markets should open higher, futures of the EuroStoxx 50 index +0.3%.
Yesterday the FTSEMIB in Milan gained 0.1%.
Euro dollar to 1.078 following the rate cut decided by the FED.
Stocks under the microscope in Piazza Affari
BPM Bank yesterday +9.4%.
Bper Bank Equita and Mediobanca raise their target price.
Monte Paschi Bank closed the first nine months of the year with a profit of 1.57 billion euros, up 68.6% compared to the same period of 2023, to which the third quarter contributed 407 million euros. The fully loaded Cet1 ratio capital solidity indicator, we read in a note, grew by 28 basis points, to 18.3%, including the third quarter profit and net of the dividends that MPS intends to pay with a pay- out (ratio between profit and coupon) of 75%. Solid and quality results at an operational level, with an interest margin that continues to grow. Another quarter of extraordinary capital generation.
Diasorin yesterday +1.7%.
Fineco Bank Deutsche Bank raises its rating to Hold.
Enel yesterday -1.9%.
Intesa Sanpaolo yesterday -3%.
Iveco yesterday +10%.
Leonardo closes the first nine months with orders of 14.8 billion euros, up 7.8% compared to the same period of 2023, revenues of 12.1 billion, up 12.4% and an Ebita of 766 million up 15%. The company confirms its full-year guidance, released last March. The CEO, Roberto Cingolani, said that the guidance would increase if there were no exogenous problems, including the Boeing crisis, while the industrial plan will be updated in March next year.
I connected achieved 911.1 million euros in total revenues in the 3rd quarter of the year (+5.1% y/y), while in the first 9 months of the year they amounted to 2,571.6 million (+5.6% y/y). The group’s Ebitda in the quarter amounted to 522.9 million (+6.2% y/y) while in the first 9 months it was 1,349.9 million (+7.3% y/y, with a growth of Ebitda margin equal to approximately 82 basis points). For 2024, in light of a persistent complex macroeconomic scenario, Nexi confirms the following targets: mid-single digit growth in revenues y/y; Ebitda in mid-to-high single digit growth y/y, with a margin expansion of over 100 basis points; excess cash generation of more than 700 million. Net financial leverage: decreasing below 2.9x Ebitda, including the M&A transactions already announced and the effects of the share buyback program (~2.6x on an organic basis)
Pirelli Operating profit rose more than expected in the third quarter, driven by volume growth, product lineup and efficiencies, the tire company said in a statement.
Stellar yesterday +1%.
STM yesterday +1.4%
Tenaris yesterday +5%
Unicredit -1,4%.
Unipol closed the first nine months of the year with a net accounting profit of 724 million, down 5.9% on the year after having spent a solidarity fund for the early retirement of approximately 500 employees for an amount equal to 149 million euros before taxes. The accounting result considers the contribution of the consolidation of the investment in Bper and Pop Sondrio only for the first half of the year. On a like-for-like basis, i.e. including the contributions of the two bank shareholdings at the end of September, calculated on the basis of recently released financial information, it stands at 834 million euros. Direct insurance collection, gross of reinsurance transfers, amounted to 11.4 billion, up by 9.1% on a like-for-like basis, with Non-Life premiums growing by 8.7% and Life premiums by 9.6%. . The combined ratio stood at 93.9%, an improvement compared to 98.6% in the first nine months of 2023 which had also been affected by a higher incidence of claims from natural disasters. On the capital front, the Solvecy ratio as of 30 September 2024 is equal to 224% compared to 215% at the end of December.
