“BancoBPM and Banca MPS Report Excellent Quarterly Results, Positive Start for Banking Sector Stocks”

The major indices of Borsa Italiana and the main European financial centres they started the day with fractional variations.

At 09.15 the FTSEMib was up 0.07% to 27,444 points, while the FTSE Italia All Share earned 0.03%. Below parity, however, the FTSE Italia Mid Cap (-0.29%) and the FTSE Italia Star (-0,52%).

I major US stock indexes recorded minimal changes in the first session of the week. The Dow Jones closed down 0.17% to 33,619 points, while the S&P500 recovered 0.05% to 4,138 points. Plus sign also for the Nasdaq (+0.18% to 12,257 points).

Positive day for Tokyo Stock Exchange. The Nikkei index recorded an increase of 1.01% to 29,243 points, after fluctuating between a low of 29,021 points and a high of 29,262 points.

Il bitcoin it fell to 27,500 dollars (about 25,000 euros).

Lo spread Btp-Bund over 190 points was confirmed, with the yield on the 10-year BTP standing at 4.25%.

L’euro it fell to $1.1.

Positive start for banking sector stocks.

Il BancoBPM earns 4.14% to 3.92 euros. The institute released its financial results for the first quarter of 2023 and updated its financial estimates for the full year. Furthermore, the management expects the distribution of dividends of 1.25 billion euros over the next two years, double that of the two-year period 2021/2022.

Also on the rise Monte dei Paschi di Siena (+2,87% a 2,226 euro), following the release of the quarterly results. The institute finished the first three months of 2023 with a net profit of 235.7 million euros. At the end of March, gross non-performing exposures amounted to €3.3 billion.

Bad start for Iveco Group (-1,79% a 7,794 euro). The company has announced the start of a new phase of the partnership with Nikola Corporation, after the collaboration between the two companies, which began in 2019, has so far achieved all the set goals. With regard to the transaction, Iveco will record a one-off negative impact of 44 million euros in the income statement for the first quarter of 2023, qualified as an “adjusting item” for the purposes of adjusted metrics. Furthermore, the FTSEMib-listed company expects to absorb the negative cash impact with cash flow generation and has confirmed its cash flow target for 2023.