“Banking Stocks in Focus: Marr Shines in STAR Segment, Giglio Group Dips”

The major indices of Borsa Italiana and the main European financial centres record fractional increases in the first session of the week.

At 11.40 the FTSEMib it was up 0.15% to 27,389 points, after fluctuating between a low of 27,317 points and a high of 27,484 points. At the same time the FTSE Italia All Share earned 0.16%. Positive performances also for the FTSE Italia Mid Cap (+0.34%) and for the FTSE Italia Star (+0,18%).

Il bitcoin it was close to 27,500 dollars (over 25,000 euros).

Lo spread Btp-Bund it is confirmed below 190 points, with the yield of the ten-year BTP oscillating between 4.15% and 4.2%.

L’euro it remains above $1.085.

Banking stocks in the spotlight. The DBRS Morningstar agency reported that in the 1st quarter of 2023 the major Italian institutions showed an aggregate net profit of 4.8 billion euros, three times higher than the result obtained in the same period last year.

Intesa Sanpaolo it lost 0.27% to 2.4215 euros. From the periodic communications released by Consob we learn that from 5 May Goldman Sachs Group is accredited with an aggregate stake in the institute equal to 6.42% of the capital. Consob itself announced that on 3 May Fondazione Cariplo’s stake in Intesa Sanpaolo had risen from 5.063% to 5.258%; the communication was made as a result of the change in the bank’s capital following the cancellation of treasury shares.

Minus sign for too UniCredit (-0,02% a 18,868 euro). The institution has disclosed that it complies with the MREL (minimum requirements for own funds and eligible liabilities) requirements set by the resolution authorities.

To the STAR segment the excellent performance of Marr stands out (+10.6% at 14.98 euros)following the new indications of some investment banks, after the release of the financial results for the first three months of 2023.

On the downside, however, Giglio Group (-3,32% a 0,64 euro). The company released the financial results for the 1st quarter of 2023 and recalled that on May 2, 2023 the auditing firm BDO Italia released its report on the audit of the draft financial statements and the draft consolidated financial statements for 2022, in which declared the impossibility of expressing a judgment. The board of directors of Giglio Group deems this decision to be “gravely erroneous” and has resolved to ask Borsa Italiana to switch from the STAR segment to Euronext Milan.