“Positive Performances for Banking Sector Stocks and Saipem; Good Debut for Italian Design Brands – Market Update”

The major indices of Borsa Italiana and the main European financial centres record increases in the order of 1-2%.

At 13.05 the FTSEMib it gained 1.17% to 27,515 points, after fluctuating between a low of 27,394 points and a high of 27,588 points. At the same time the FTSE Italia All Share was up 1.11%. Plus sign for the FTSE Italia Mid Cap (+0.63%) and for the FTSE Italia Star (+0,45%).

Il bitcoin it came close to $27,500 (just under €25,500).

Lo spread Btp-Bund it is confirmed below 185 points, with the yield of the 10-year BTP reaching 4.25%.

L’euro it approached $1.08.

Performance positive per i banking sector stocks.

In evidence BancoBPM e BPER Bankearning 2.25% and 1.99% respectively.

In contrast the Monte dei Paschi di Siena (-2,01% a 2,199 euro). DBRS upgraded the bank’s ratings by one notch, taking its standalone Intrinsic Assessment rating and long-term senior debt rating to “BB low” from “B high”. The rating upgrade incorporates an expected improvement in revenues, as well as the increased operational efficiency achieved by the bank.

Saipem jumped by 3.82% to 1.306 euros. The company has been awarded two new offshore contracts, one for an Engineering, Procurement, Construction and Installation (EPCI) project in the Black Sea and one for decommissioning activities in the North Sea. The total value of the contracts amounts to approximately 850 million dollars.

In the spotlight Italian Design Brandson the day of its debut in Piazza Affari. The title records a progress of 3.25% to 11.234 euros. The shares had been placed at €10.88, resulting in an initial capitalization of €293 million. Meanwhile, DrumsIP (+0.8%) announced that it had acquired 50.7% of Investindesign, a company that currently holds 48.7% of the capital of Italian Design Brands. TamburiIP invested 72 million euros, giving the newly listed company an economic capital value of 220 million euros.