Negative Piazza Affari: The FTSEMib loses more than 1%

Seated under the banner of sales for the securities of the banking sector: among the protagonists there is still the Monte dei Paschi di Siena. The descent of Telecom Italia TIM continues

negative-stock-marketThe major indices of the Italian Stock Exchange and the main European financial markets record discounts of more than one percentage point in the last session of the week. According to Giuliano Gasparet – Head of Equity at Generali Insurance Asset Management – the equity markets, both in the United States and in Europe, they will continue to be vulnerable to other bad news and the recent deterioration of macro data could justify afurther future weakness. “In addition, more and more companies are warning about their profits, lowering expectations for the remainder of 2022 and for the next year,” the expert warned. Today is a day of important technical deadlines: futures and option contracts on shares and indices expiring in September 2022.

At 11.30 the FTSEMib it was down 1.13% to 22,112 points, after hitting an intraday low of 21,896 points. At the same time the FTSE Italia All Share it was down 1.14%. Minus sign also for the FTSE Italia Mid Cap (-1.14%) and for FTSE Italia Star (-1.54%).

The bitcoin remains under $ 20,000.

The BTP-Bund spread it was close to 230 points, with the yield of the ten-year BTP returning over 4.05%.

L’EUR it remains below par against the dollar.

Session under the banner of sales for securities in the banking sector.

Among the protagonists there is still the Monte dei Paschi di Siena, after the strong volatility recorded in previous sessions. The title is in drop of 4.14% at € 0.352. The shareholders’ meeting of the Sienese institute approved the proposals for the capital increase and the reverse stock split.

The descent of Telecom Italia TIM. The title of the telephone company is in discount of 5,17% to € 0.1888. Barclays analysts cut the target price on Telecom Italia TIM from € 0.19 to € 0.15; the experts also worsened the judgment, taking it from “Hold” to “Underweight”.

Also in red Stellantis (-1.58% to € 13.468). ACEA (the European association that groups car manufacturers) provided an update on the trend of registrations in Europe in July and August 2022. In the months under review, the group listed on the FTSEMib respectively recorded a decrease in sales of the 9% (with about 154 thousand cars sold) and an increase of 11% (with almost 137 thousand cars sold); as a result, the group’s European market share at the end of August was 18.3%.

At the MidCap brilliant sitting for Ariston Holding (+ 10.5% to € 8.12). The company announced that it has signed a binding agreement with CENTROTEC for the acquisition of 100% of the capital of CENTROTEC Climate Systems. In detail, the transaction provides for the transfer to Ariston Holding of the entire capital of CENTROTEC Climate Systems against the subscription by CENTROTEC of 41,416,667 newly issued shares of the company listed on Piazza Affari and an outlay by Ariston Holding of 703 million euros.

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Negative Piazza Affari: The FTSEMib loses more than 1%

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