Banking stocks remain in the spotlight: Monte dei Paschi di Siena takes a break after the recent rally. Leonardo is on the rise. Bad STM
The major indices of the Italian Stock Exchange and the main European financial markets recorded fractional progress, after the declines suffered in the previous session. Pierre Veyret – Technical analyst of ActivTrades – reported that so far the STOXX50 has reacted positively above the support of 4,430 pointspreventing the market from a bigger decline after the sell-off on January 3, 2024. “However, the situation has become ominously bearish, and although a pull-back towards 4,500 points remains possible, a break of 4,430 points could push prices lower towards 4,375 points and 4,330 points by extension,” the expert warned.
At 2.15 pm FTSEMib it gained 0.37% to 30,213 points, after having fluctuated between a minimum of 30,132 points and a maximum of 30,343 points. At the same time the FTSE Italia All Share it was up 0.35%. Plus sign also for the FTSE Italia Mid Cap (+0.25%) and for the FTSE Italia Star (+0,01%).
Il bitcoin it stands below 43,500 dollars (around 39,500 euros).
Lo spread Btp-Bund he almost reached 170 points, with the yield of the ten-year BTP which reached 3.8%.
L’euro it remains at $1.095.
I banking sector securities remain in the spotlight.
Profit taking on Monte dei Paschi di Siena (-0.58% to 3.266 euros) after the recent rally.
On the contrary, the progress of the BancoBPM (+1,83%) e BPER Bank (+1,57%).
Leonardo recorded an increase of 4.08% to 16.075 euros. Bernstein analysts have increased the target price on the aerospace company, bringing it from 15.5 euros to 19.5 euros; the experts also improved the rating to “Outperform” (will do better than the market).
Brilliant performance also for Saipem (+3,22%).
STM loses 4.85% to 40.925 euros, in line with the negative trend of the chip sector. The sector is affected by the indications of Mobileye Global (a company active in the field of chips for assisted driving) on revenues for the current financial year, which were decidedly lower than the analysts’ consensus.
2024-01-04 13:18:00
#FTSEMib #remains #positive
