Update at 10.25am – BANCO BPM IN RALLY (+9.4%)
Piazza Affari likes the takeover bid Bpm Bank are Anima Holding which rewards both titles involved in the project to create a new “national champion” in life insurance and managed savings. After the difficulties in making prices, Banco Bpm starts trading with a strong rise, with the title a +9,06%at 6.884 euros thanks also to better-than-expected quarterly accounts, while Anima rises by +9,39%at 6.29 euros, thus exceeding the 6.2 euros offered by Banco Bpm.
European stock markets begin the trading day on the rise, after the Donald Trump’s victory in the US presidential election and in the wake of Wall Street which set new records yesterday. In Milan the Ftse Mib after +0.63%, it Dax of Frankfurt at +0.57%, the Cac 40 of Paris to +0.11%, theIbex 35 of Madrid at +0.35% and the Ftse 100 of London at +0.30%. The Tokyo Stock Exchange closes mixed, awaiting the Fed, with the index Nikkei at -0.25%, while the broader index Topix concluded with an increase of +1%.
IN PIAZZA AFFARI FARO ON BANCO BPM
Between individual titles, he knows how to follow BancoBpm which is priceless at the start, after having launched a voluntary takeover bid for all of the shares of Anima Holding (+12%), at a price of 6.2 euros per share, with a premium of 8.5% on the closing of Wednesday 6 November and 25% on the average value of the stock over the last 6 months. The quarterly season continues, with Tenaris (+0.97%) which reported profits and revenues falling in the nine months, but above estimates. Iveco (+4%) had a solid third quarter; Bper (+1.5%) shoots to the top of the list at the start, after a quarter above expectations and Snam (-0.32%) approved an interim dividend for 2024 of 0.1162 euros.
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NEW RECORDS ON WALL STREET
Donald Trump’s clear affirmation in the White House yesterday pushed the indices of Wall Street which set new records, while Chinese stock markets were affected by fears of a new trade war on duties. Investors’ attention now shifts to interest rate decisions Fed and of BoE. Analysts expect a 25 basis point cut for both central banks. The Federal Reserve began cutting rates as early as September.
THE RACE OF THE SUPER DOLLAR STOPS
On the currency side the dollar which had appreciated strongly on the eve, pulls the brakes and trades at 1.077 from 1.073 at yesterday’s closing. The price of oil is rising again, col Brent January expiry which trades in the area of 75 dollars a barrel (+0.2%), while the Wti of the same maturity at 71.3 dollars per barrel (+0.1%). The price also rises natural gas which in Amsterdam trades at 40.5 euros per megawatt hour (+0.3%). The spread it fell to 131 basis points at the opening, with the yield on the 10-year Treasury at 3.72%.
