FTSE Mib stock market trend
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Hera runs to Piazza Affari, Tim on the rise
The FTSE MIB , weak for most of the session, it regained its positions on the eve of the final, hinging on more defensive stocks such as utilities. Hera (+ 3.4%) was the best, benefiting from the positive opinions of analysts after the announcement of the 2020 accounts and the hike in the coupon. In addition, the European attention to the utilities sector, which sparked after the publication of the accounts of the German E.On, which not only met the targets, but also announced growth forecasts for the current year. The Telecom Italia (+ 1%) thanks to the intention of the Draghi government to tighten on the theme of the single network. Indeed, the Minister for Economic Development, Giancarlo Giorgetti, in the context of an event organized by Il Sole 24 Ore, underlined the need to quickly overcome the deadlock on the single network project, a project that is still considered current. Atlantia (-0.4%) awaiting an improvement proposal from the Cdp consortium for Aspi. Among the worst Buzzi Unicem (-4.4%) which paid duty on the forecast of a drop in margins in 2021. An indication, the latter, which also overshadowed the 2020 accounts archived with a group net profit up 45.2 % to 560 million and the announcement of the proposal for a coupon at 25 cents.
Bad for oil, oppose the banks
Oil has also gone badly, in the wake of the slide recorded by crude oil.Tenaris it lost 2.7%. the banks, weak during the session, closed mixed.Mediobanca eIntesa Sanpaolothey defended their positions, while they lost ground Banco Bpmand the Banca Pop Er. Out of the main basket, Beghelli it was one of the worst after the 2020 accounts closed with a loss of 8.9 million euros, down from the “red” of 1.3 million recorded the previous year. Now the focus is on the industrial plan, where the disposal of the assets considered, also in perspective, not strategic is foreseen. In the meantime, the group in 2020 recorded lower revenues than expected in the budget but the bet now is on new products for air sanitation. Instead they went well De ‘Longhi, after the company has indicated to estimate an average annual growth in sales at constant exchange rates between 10% and 12%, including the newly acquired Capital Brands (which will be consolidated in 2021), in the three-year period 2021-23 and an improvement between 40 and 100 basis points for the adjusted EBITDA margin by 2023 compared to the reported value of 2020 (15.6%). The company also announced investments in the three-year period for a total amount of approximately 100 million, compared to 45 million incurred in the three-year period 2018-2020.
Government bonds, falling rates for short term BTp
Today the first auction of the BTp short term, the new title fielded by the Treasury to replace the CTz, went through with good demand and a largely negative yield. In the first placement, the short-term BTp with a maturity of 11/29/2022 catalysed a total demand of 5.6 billion against an issued amount of 4 billion euros and a supply / demand ratio of 1, 41. The yield stood at -0.39 percent.
On the primary market, the Treasury also placed the 12th tranche of the 10-year BTp indexed to euro area inflation for an amount equal to 1,248 billion. Against an offer of between € 0.75 and € 1.25 billion, the supply / demand ratio stood at 1.31. The yield was -0.60%. The regulation of the two issues falls on next March 30th.
(Il Sole 24 Ore Radiocor)
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