The central institution has decided not to change interest rates. The sharp falls in Saipem and Campari stand out after the quarterly report. On the other hand, STM is on the rise.
The main indices of the Italian stock market have closed the session in positive territory after ECB decisions on monetary policy. The central institute decided do not change interest ratesconfirming the reference rate at 4.5%.
He FTSEMib It closed up 0.29% at 27,508 points, after having fluctuated between a low of 27,078 points and a high of 27,586 points. He FTSE Italy All installments gained 0.21%. Minus sign, however, for the FTSE Italy mid-cap (-0.61%) and for the FTSE Italy Star (-0.32%).
He bitcoin fell below 34,000 dollars (less than 32,500 euros).
He Btp-Bund Differential consolidated below 200 points, with the ten-year BTP performance which amounted to 4.85%.
IEUR fell below $1,055.
Saipem left 5.32% on the ground at 1.3355 euros. The engineering company published the Financial results for the first nine months of 2023., period closed with an improvement in billing and profitability; the final result was positive. Consequently, management confirmed the financial targets for 2023. In addition, Saipem’s board of directors decided to submit for approval to the shareholders’ meeting the proposal to authorize the convertibility into ordinary shares of the share-linked bond loan for a nominal amount of 500 million euros. Consequently, the capital increase proposal will also be submitted for approval, to address the conversion of the bond loan.
Bad session too Campari (-6.78% to 10.31 euros). The company launched the Financial data for the first nine months of 2023., period closed with improved income and mixed profitability. Management confirmed guidance for a stable adjusted EBIT margin on net sales in 2023 on an organic level.
Some thoughts on banking sector stocks.
Intesa Sanpaolo gained 0.59% to 2.37 euros. The institute announced that the extraordinary tax calculated on the increase in interest margin amounts to approximately 828 million euros. Consequently, the board of directors has agreed that it will propose to the board, when approving the 2023 annual accounts and when applying the result of the year and distributing the dividend to shareholders, to allocate an amount equal to the non-distributable reserve of approximately 1,990 million of euros, which corresponds to 2.5 times the amount of the tax related to the parent company, equivalent to approximately 797 million.
Also in progress UniCredit (+1.47% to 22,825 euros). S&P Global upgraded the institution’s individual credit profile, taking it from “bbb” to “bbb+”, one notch above Italy’s sovereign rating. UniCredit’s issuer credit rating remains linked to the rating of the Italian Republic at the “BBB” level.
Better performance for Mount of the Paschi of Siena (+2.6%).
Brilliant performance for STM (+4.97% 38.97 euros). The Italian-French group informed me Third Quarter 2023 Financial ResultsThe period closed with an increase in income, better results than management estimated. The leaders of the Italian-French group also provided some financial estimates for the current quarter and for all of 2023.
stellantis suffered a decrease of 0.6% to 17,672 euros. The automobile giant has announced that it intends to invest approximately €1.5 billion to acquire a 20% stake in Leapmotor. The agreement also includes the establishment of Leapmotor International, a 51-49 joint venture led by Stellantis, with exclusive rights to export and sell, as well as manufacture, Leapmotor products outside the China region.
Shy bounce for NEXI (+0.95%) after the strong correction suffered in the previous session.
