Banking sector stocks are up and down, after the correction suffered in the previous two sessions. The declines of Telecom Italia TIM and NEXI stand out
The major Italian Stock Exchange indices and the main European financial markets record fractional variations in the first session of the week. No surprises from the agency S&P Global confirmed the “BBB” rating on the sovereign debt of the Italian Republic; the outlook remains stable. Pierre Veyret – technical analyst at ActivTrades – hypothesizes that Market volatility will likely remain elevated until the end of Octoberas investors will have to deal with many major market factors at once, which could lead to sharp price reactions across many asset classes.
At 4.45pm FTSEMib it was up 0.53% to 27,503 points, after having fluctuated between a minimum of 27,199 points and a maximum of 27,519 points. At the same time the FTSE Italia All Share it was up 0.47%. Minus sign, however, for the FTSE Italia Mid Cap (-0.1%) and the FTSE Italia Star (-0,12%).
Il bitcoin it returned above 30,500 dollars (less than 29,000 euros).
Lo spread Btp-Bund it narrowed below 200 points, with the yield of the ten-year BTP which dropped to 4.85%.
L’euro it exceeded $1.06.
Banking sector stocks are up and downafter the correction undergone in the previous two sessions.
UniCredit recorded an increase of 1.97% to 22.56 euros. The board of directors of the institute led by Andrea Orcel will meet today to examine the financial results for the 3rd quarter of 2023; the data will be released on the morning of October 24th. Meanwhile, UniCredit and Alpha Services and Holdings have announced a merger in Romania and a strategic partnership in Greece.
Brilliant seat for too BPER Bank (+2,94%).
On the contrary, the Monte dei Paschi di Siena loses 0.29% to 2.366 euros. In relation to the procedures for the sale of shares in the Sienese institution, the Ministry of Economy and Finance announced that it had identified UBS and Jefferies as financial advisors and Clifford Chance as legal advisors.
Down Telecom Italia TIM (-2,33% a 0,2513 euro). The telephone company’s board of directors will meet on November 3, 2023 to review the binding offer on NetCo and the non-binding offer for Sparkle received from Kohlberg Kravis Roberts (KKR). The following November 5th the Board of Directors will formally meet to decide on the offers.
Also down sharply CONNECTED (-3,5% a 6,392 euro). Deutsche Bank analysts have cut the target price on the payments company from 11.5 euros to 7.5 euros; the experts also worsened the rating, taking it from “Buy” to “Hold” (maintain).
Pirelli (-3.56%) among the worst of the day at the FTSEMib.
Al MidCap focus su MFE-MEDIAFOREUROPE. Borsa Italiana has provided the new prices of “category A” shares (+2.57% to 1.878 euros) and “categoria B” (-0.67% to 2.796 euros), on which an adjustment factor of 5 was applied, following the stock split in force from Monday 23 October. The closing price on Friday 20 October of the “category A” shares, equal to 0.3662 euros, was adjusted to 1.831 euros, while the price of the “category B” securities was adjusted to 2.815 euros, compared to 0.563 euros closing on Friday 23 October.
2023-10-23 13:35:00
#FTSEMib #climb #finish
