Moncler the best at FTSEMib. Saipem also did well. Bad day, however, for banks and utilities. At Euronext Growth Milan focus on freshman Valtecne
The major indices of Borsa Italiana and the main European financial markets ended the day with fractional discounts. Michael Blümke – Senior Portfolio Manager of ETHENEA Independent Investors – warns against theexcessive euphoria for the strong equity rises that there have been in the US, Europe and Asia since October 2022. “As earnings expectations continue to decline, we believe many stocks have risen too much too fast in the near term and that, contrary to expectations, we are still once experiencing the fear of being left out. The current equity rally is not sustainable and will not continue in the same way,” the expert pointed out.
Il FTSEMib it lost 0.59% to 27,315 points, after fluctuating between a low of 27,275 points and a high of 27,705 points. The FTSE Italia All Share it closed down 0.56%. Minus sign also for the FTSE Italia Mid Cap (-0.31%) and for the FTSE Italia Star (-0.41%). In the session of 1 March 2023, the value of trades fell to 2.79 billion euros, compared to 3.67 billion on Tuesday.
Il bitcoin it fluctuated between 23,500 and 24,000 dollars (just over 22,000 euros).
Lo spread Btp-Bund it came close to 185 points, with the yield on the 10-year BTP exceeding 4.55%.
L’euro it consolidated above $1.065.
Moncler it gained 3.29% to 59.7 euros. The duvet group communicated i financial results for the year 2022, closed with revenues and profitability on the rise and better than the consensus. Management has proposed the distribution of a dividend of €1.12 per share.
Saipem remained in the spotlight (+1.15% to 1.5345 euros). The engineering company has announced that it has been awarded a drilling contract off the Ivory Coast worth $400 million.
Pirelli it gained 1.43% to 4.891 euros. Goldman Sachs analysts increased the target price for the tire group from 4.2 euros to 4.8 euros; the experts have also upgraded the rating to “Neutral”.
At the FTSEMib, the performance of Stellar (+3,03%).
Bank sales. The decline of UniCredit (-2,46%).
Negative closure also for utilities. We note the decrease of Enel (-2.2%). Bad too Hera (-2,54%), A2A (-2,65%), Italgas (-2,51%) e Terna (-2,3%).
At the STAR segment continued the correction of doValue (-7,24%). The share price went from 7.72 euros at the close of 23 February 2023 to 6.41 euros on 1 March.
All’Euronext Growth Milan focus su Valtecneon the day of its debut in the price list dedicated to dynamic and competitive SMEs. The stock recorded a jump of 24% to 6.2 euros. The company’s shares had been placed at 5 euros, with an initial capitalization of 30.5 million euros.
In evidence Technoprobe after the heavy correction suffered in the previous session. The stock closed in up 1.56%.
Also stands out the performance of Star Workshop (+7,78% a 13,85 euro). The company announced that it has signed two contracts with Leonardo for the supply of a very high resolution compact multispectral optical system for the PLATiNO3 mission and a medium resolution hyperspectral optical system for the ASI PLATiNO4 mission. The contracts have a duration of 14 months and a total value of 3.8 million euros.
