The main Borsa Italiana index recorded the eleventh increase in the first 13 sessions of 2023. Important insights for bankers. Oil prices are on the rise
The major indices of Borsa Italiana and the main European financial centres they closed the session with fractional variationsconsolidating the trend recorded in the first sessions of 2023. Federico Vetrella – market strategist of IG Italia – reported that inflationary pressures in Europe are decelerating due to the reduction in the prices of energy raw materials. However, according to the strategist, this will not allow central banks to curb interest rate hikes in the short term for fear of giving impetus to the consumer price index again. “ECB and Bank of England will continue to increase the cost of money at least until May-June when the two monetary institutions will be able to reassess the macroeconomic situation and stabilize interest rates”, speculated Federico Vetrella.
The FTSEMib gained 0.27% to 26,052 points, after fluctuating between a low of 25,951 points and a high of 26,150 points; the main index of Borsa Italiana recorded the eleventh rise in the first 13 sessions of 2023. The FTSE Italia All Share achieved a gain of 0.35%. Plus sign for the FTSE Italia Mid Cap (+1.06%) and for the FTSE Italy Star (+0.57%). In the session of 18 January 2023, the value of trades rose to 2.11 billion euros, compared to 2.09 billion on Tuesday.
The bitcoins it is back below $21,000 (over €19,000).
The BTP-Bund spread it narrowed below 175 points, with the yield on the 10-year BTP falling to 3.75%.
L’EUR it dropped below $1.085, from an intraday high of $1.0888.
Important insights for banking sector stocks.
In fractional decline UniCredit (-0.27% to 14.618 euros). The institute led by Andrea Orcel has released the consensus estimates for Q4 and full-year 2022. In detail, the consensus for the year that has just ended indicates a net book profit of 5.13 billion euros (median value), a better forecast than the previous indication of a final result of 4.93 billion euros communicated after the publication of the financial results for the 3rd quarter. The earnings per share, therefore, is indicated at 2.26 euros. The intermediation margin should rise from 17.95 billion to 19.77 billion euros (19.73 billion the previous estimate). The net operating result is indicated at 7.88 billion after write-downs on loans for 2.21 billion euro.
A decidedly positive performance, on the other hand, for BPER Bank (+3.3% to 2.252 euros).
Oil stocks are upafter the price of crude oil in New York (contract expiring in February 2023) reached 82 dollars a barrel.
ENI gained 0.61% to 14.46 euros. The six-legged dog has announced that subscriptions to the public subscription offer of the bonds of the loan called “Eni bonds sustainability-linked 2023/2028” have exceeded the amount of one billion euros, after just over two days of the offer of the title. As a result, ENI has exercised the option to increase the maximum aggregate nominal value of the bonds to €2 billion.
Better performance for Saipem (+7.06%) and for Tenaris (+4.15%).
In fractional decline Stellantis (-0.65% to 14.268 euros), after the release of data on car registrations in Europe. ACEA (the European association of car manufacturers) announced that 896,967 cars were registered in the European Union in December 2022, an increase of 12.8% compared to 795,130 in the same period of 2021. instead, the sales of Stellantis contracted: last month the automotive group recorded a decrease in registrations of 6.6% with 149,540 cars sold; as a result, Stellantis’ market share in Europe stood at 16.7%.
At the MidCap, the increases of Piaggio (+5.25%) and Webuild (+8.1%).
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