Positive intonation for BancoBPM. In red the companies active in the luxury sector; traders report disappointing quarterly results from Richemont
The major indices of Borsa Italiana and the main European financial centres they go into negative territory in the first session of the week. According to the analysts of Cassa Lombarda traders will focus on corporate earnings to continue fueling the market rally. Experts believe the level of expectations for the quarter looks pretty easy to beat but the real focus will be on the outlook provided by the companies. “In the face of rather rich market valuations, only strong positive surprises in earnings will result in sharp rises in share prices”, speculated the analysts of Cassa Lombarda.
At 11.35 the FTSEMib it was down 0.11% to 28,624 points, after fluctuating between a low of 28,545 points and a high of 28,728 points. At the same time the FTSE Italia All Share lost 0.23%. Worst performance for the FTSE Italia Mid Cap (-1.15%) and for the FTSE Italia Star (-0,73%).
Il bitcoin it dropped to $30,000 (just under €27,000).
Lo spread Btp-Bund it widened to 170 points, with the yield on the ten-year BTP fluctuating around 4.15%.
L’euro it approached $1.125.
Il BancoBPM records an increase of 1.65% to 4.443 euros. The institute, the BCC Iccrea Group and FSI have signed a binding agreement for the establishment of a strategic partnership aimed at developing a new Italian and independent company in the digital payments sector. For BancoBPM the total value of the operation is more than 2 billion euros, between upfront and running. Upon closing, the transaction will positively impact the fully loaded CET1 ratio by approximately 32 basis points; also considering any future price additions, the effect on the fully loaded CET1 ratio could rise up to around 50 basis points.
Bad day for companies active in the luxury sector; traders report disappointing quarterly results from Richemont.
The reductions of Moncler (-4.04%) and Tues Brunello Cucinelli (-4,73%).
The negative parformance of Eurogroup Laminationssuspended due to excessive reductions (-12.4% the theoretical decrease).
Pierrel remains in the spotlight. The actions gain 3.81% to 1.66 euros, while i rights relating to the capital increase are suspended due to excess downsizing.
2023-07-17 09:39:00
#FTSEMib #negative
