Italian Stock Market Update: Campari Confirms Decline, Telecom Italia TIM Suspended, Positive Intonation for STM

Campari confirms its decline. DiaSorin is also in red. Telecom Italia TIM suspended due to excessive increase. Positive performance also for STM

The major indices of the Italian Stock Exchange and the main European financial markets recorded fractional progress in the last session of the week, a day characterized by important events technical deadlines: futures and options contracts on shares and indices expiring in December 2023. According to Pierre Veyret – technical analyst at ActivTrades – the last macroeconomic data before Christmas will likely remain critical for equity traders, while the main technical levels should be observed with caution. The analyst reported that the STOXX50 index is still above the support level of 4,520 points, but below its latest top of 4,595 points. “The trading range has widened due to increased market volatility in recent days, but the consolidation remains ongoing,” Pierre Veyret pointed out.

At 12.55 pm FTSEMib it gained 0.54% to 30,522 points, after having fluctuated between a minimum of 30,446 points and a maximum of 30,593 points. At the same time the FTSE Italia All Share it was up 0.56%. Similar performances for the FTSE Italia Mid Cap (+0.62%) and for the FTSE Italia Star (+0,51%).

Il bitcoin it remains under 43,000 dollars (around 39,000 euros).

Lo spread Btp-Bund it stands at around 165 points, with the yield on the 10-year BTP falling to 3.7%.

L’euro it is confirmed above $1.095.

Campari it is down 2.47% to 10.05 euros. The company announced that it has entered into exclusive negotiations with Beam Suntory and that it has granted the latter a put option, in order to acquire 100% of the capital of Beam Holding France, which holds 100% of the capital of Courvoisier . The fixed purchase price is equal to 1.2 billion dollars (corresponding to approximately 1.11 billion euros), in the absence of cash or financial debt, and is subject to the usual price adjustment mechanisms.

In evidence Telecom Italia TIM (suspended due to excessive increase). The board of directors of the telephone company has decided to extend to the end of January 2024 the deadline granted to Optics Bidco (a company controlled by Kohlberg Kravis Roberts, KKR), to complete due diligence activities and formulate a final offer for Sparkle. Furthermore, the president Salvatore Rossi has announced that he does not intend to present his own candidacy on the occasion of the next renewal of the company’s Board of Directors.

Focus on banking sector stocksafter the declines recorded yesterday, in the wake of the monetary policy decisions of the FED and the ECB.

Il BancoBPM recorded a drop of 2.08% to 4.717 euros. The institute announced that it had acquired the entire capital of Vera Vita and Vera Financial from Generali Italia and that it had sold the 65% stake in Banco BPM Assicurazioni to Crédit Agricole Assurances and – at the same time as the repurchase of the same by the bank – of 65% of Vera Assicurazioni which, in turn, holds the entire capital of Vera Difesa. The price paid to Generali Italia by BancoBPM for the purchase of 65% of Vera Vita and Vera Assicurazioni was a total of 392.4 million euros, while the total price paid by Crédit Agricole Assurances for the purchase of 65% of Banco BPM Assicurazioni and Vera Assicurazioni amounted to 243.6 million euros.

Positive intonation for STM (+2,99% a 46,955 euro). Some investment banks have revised their assessment of the Italian-French group upwards. In particular, Citigroup increased the target price on the stock to 80 euros and confirmed its indication to purchase the shares.

Profit taking up DiaSorin (-4,34% a 93,06 euro)awaiting the dissemination of the industrial plan targets for the 2024/2027 period.

Al MidCap Antares Vision stay in the spotlight, after the heavy correction suffered in the previous two sessions. The stock recorded an increase of 7.99% to 1.568 euros.

2023-12-15 11:56:00
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