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The FTSEMib gains over 1% mid-session

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The FTSEMib gains over 1% mid-session
Written by aquitodovale

Telecom Italia TIM down, after the publication of the half-year results. BancoBPM confirmed its negative territory. On the other hand, Tenaris rose sharply

The positive trend of the major indexes of the Italian Stock Exchange and of the main European financial markets, which they record increases of more than one percentage point.

At 12.55 on FTSEMib it was up by 1.22% to 22,850 points, after having fluctuated between a minimum of 22,629 points and a maximum of 22,880 points. At the same time the FTSE Italia All Share earned 1.15%. Plus sign for the FTSE Italia Mid Cap (+ 0.66%) and for FTSE Italia Star (+ 0.54%).

The BTP-Bund spread it narrowed to 215 points, after the yield on the Italian 10-year bond fell to 3%.

The bitcoin stands under $ 23,000 (less than € 22,500).

L’EUR touched $ 1.02.

Telecom Italia TIM records a decrease of 1.03% to 0.2204 euros, after the publication of the half-year results and the revision of some estimates for the whole of 2022. Furthermore, Telecom Italia TIM announced that it has reached an agreement with DAZN. The agreement allows the latter to distribute the rights to watch the matches of the Serie A TIM Championship through any third party.

I prevail on bank purchases.

The exception is BancoBPM which is confirmed in negative territory (-0.3% to € 2.692). The institute communicated i financial results for the first half of 2022 and provided some financial information for the entire year. In particular, the management expects an improvement in net profit in 2022 compared to 2021, with a trend that allows to confirm both the profitability trajectory and the overall targets outlined in the strategic plan. Earnings per share are estimated to be over € 0.4, while the payout is indicated at 50%.

In evidence Tenaris (+ 2.17% to € 13.405). The company released i financial results for the 1st half and 2nd quarter 2022. The numbers for the first half of the year showed a strong improvement in turnover and profitability, benefiting from the increase in pipe prices and the improvement in industrial performance. Tenaris management will further increase sales in the second half of 2022, while the Ebitda margin is expected to stabilize, as higher selling prices should offset the increase in costs.

At the MidCap in evidence Safilo Group (+ 8.89% to € 1.506)after dissemination of the half-yearly report. Based on the performance obtained in the first half of 2022 and the current visibility on the third quarter, Safilo’s management is confident that it will already reach the economic objectives indicated in the 2024 strategic plan by 2022, which envisaged net sales of around one billion euro and an adjusted EBITDA margin between 9% and 11%. In detail, the top management estimates that net sales for the full year 2022 will grow mid-single digit (in the order of 5%) at constant exchange rates compared to 2021 and that the adjusted EBITDA margin will be around 10% from 8 , 4% recorded in 2021.

The excellent performance of the STAR segment stands out doValue (+ 5.95% to € 6.41)after the spread of the half-year results. In addition, management has provided some financial indications for 2022. Top management expects to close the year with gross revenues of between 555 million and 565 million euros; EBITDA excluding non-recurring items is indicated between 190 and 195 million euros, while net profit excluding non-recurring items is estimated between 45 and 50 million euros. doValue plans to distribute a dividend per share of € 0.6 with reference to the year 2022 (subject to the approval of the board of directors and shareholders), which represents a growth of 20% compared to the dividend per share of € 0.5 in 2021 .

At Euronext Growth Milan focus on Siav, on the day of its debut in the price list dedicated to dynamic and competitive SMEs. The title records a increase of 3.33% to 3.1 euros. The company’s shares were placed at 3 euros, with an initial capitalization of 27 million euros.


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