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Piazza Affari closes on lows: FTSEMib -3.3%

Piazza Affari closes on lows: FTSEMib -3.3%
Written by aquitodovale

Banking stocks are in red, after the rebound recorded in the previous session: Mediobanca’s decline stands out. Sales also on Stellantis and Ferrari

The major indices of the Italian Stock Exchange and the main European financial markets have ended the day with discounts in the order of 2-3%after the rebound achieved in the previous session and the FED’s decision to raise interest rates by 75 basis points.

The FTSEMib he left 3.32% on the ground at 21,727 points, after having fluctuated between a minimum of 21,723 points and a maximum of 22,397 points. The FTSE Italia All Share recorded a decline of 3.23%. Minus sign also for the FTSE Italia Mid Cap (-2.84%) and for FTSE Italia Star (-3.29%). In the session of June 16, 2022, the turnover rose to 2.55 billion euros, compared to 2.42 billion on Wednesday.

The BTP-Bund spread it returned to 215 points, after the yield on the Italian 10-year bond fell to 3.85%.

At 17.35 on bitcoin it had dropped to 21,000 dollars (about 20,000 euros).

L’EUR it rose to $ 1.05.

Securities from the banking sector are in redafter the rebound recorded in the previous session.

The negative performance of Mediobanca, which lost 4.61% to € 8.524. Bad too BPER Bank (-4.24%).

Without direction, the spotlight was given to stocks in the oil sectorafter the price of crude oil in New York (contract expiring in July 2022) returned to 115 dollars a barrel.

Saipem it gained 2.55% to 38,255 eurosafter the strong volatility recorded in the last few sessions.

In reverse, ENI And Tenaris they lost 4.89% and 6.1% respectively.

Stellantis it sold 5.28% to 12.152 euros. ACEA (the European association that groups automobile manufacturers) announced that 791,546 cars were registered in the European Union in May 2022, down 11.2% compared to over 891,000 in the same period of 2021. Sales of Stellantis also fell sharply in May 2022: last month the automotive group born from the merger between FCA and PSA recorded a drop in registrations of 14.6% with 170,408 cars sold; as a result, Stellantis’ market share in Europe stood at 21.5%.

Ferrari it left 0.71% on the ground at 166.8 eurosafter the presentation of the operational and financial targets for the period 2022/2026. With reference to the shareholder remuneration policy, Ferrari has decided to continue with the proposal to increase the dividend pay-out for the coming years to a stable 35% of the adjusted net profit. In addition, Cavallino Rampante will initiate a € 2 billion share buyback program to be carried out from now until the end of the plan period, in line with the progress of free cash generation.

STM (-6.3%) recorded the worst performance of the day at the FTSEMib.

Strongly up Piteco (+ 22.2% to 11.05 euros). Limbo announced that it has taken the decision to launch a voluntary takeover bid concerning all the ordinary shares of the listed company. In particular, the bidder will pay a consideration equal to 11.25 euros for each Piteco share brought in acceptance of the offer. Based on the official price of Piteco shares at the close of June 15, 2022 (€ 9.04), the consideration respectively incorporates a premium of 23.2%.

Among the smaller capitalization companies, the leap of Gas Plus (+ 24.8% to 3.88 euros). Black Sea Oil & Gas, together with the partners of the joint-venture, Petro Ventures Resources and Gas Plus Dacia, have announced the start of production of the Midia Gas Development Project and the successful delivery of the first gas to the National Transmission System.

Enertronica Santerno is suspended from trading.

At Euronext Growth Milan the slip of Italia Independent Group, after the release of the 2021 budget results, closed with a loss of 24.1 million euros. Furthermore, the board of directors verified the possibility of obtaining from the shareholders the willingness to intervene with a paid capital increase, intended to pursue a restructuring process.


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