Piazza Affari Rally: the FTSEMib closes over 23 thousand points

The major indices of the Italian Stock Exchange and the main European financial markets closed in positive territory the last session of the week, with progress in the order of 2-3%. Continent markets accelerated to the upside following the release of US employment data in October. According to Filippo Diodovich – senior market strategist of IG Italia – the macroeconomic figures on the American world of work cannot change the perception of US central bankers on the health of the US labor market which continues to show signs of strength in terms of growth in new jobs . “The market, on the other hand, reacts to the higher-than-expected rise in the unemployment rate to 3.7% and to wage growth which seems to have stabilized after months of sharp rise”, added Filippo Diodovich. As a result, according to the strategist, the chances of a possible slowdown in the magnitude of the Fed’s next rate hike at its December meeting have increased. “At the moment the most probable scenario according to the markets is that of an increase of 50 basis points (new range at 4.25% -4.50% at the end of the year)”, concluded the expert.

The FTSEMib it made a progress of 2.54% to 23,282 points, after having fluctuated between a minimum of 22,653 points and a maximum of 23,392 points; over the entire week, the main Borsa Italiana index gained 3.34%. The FTSE Italia All Share recovered 2.36%. Plus sign for the FTSE Italia Mid Cap (+ 1.24%) and the FTSE Italia Star (+ 1.97%). In the session of November 4, 2022, the turnover rose to 2.92 billion euros, compared to 1.72 billion on Thursday.

At 17.30 the bitcoin it was back below $ 21,000.

The BTP-Bund spread it fluctuated around 215 points, with the ten-year BTP yield returning over 4.45%.

L’EUR has exceeded $ 0.99.

Is in the it gained 2.31% to € 4.6795. The electric giant has communicated i financial results for the first nine months of 2022, a period that saw a strong increase in revenues and a decline in profitability. Debt on the rise. Enel’s management also reviewed some financial targets relating to the 2022 financial year and communicated the amount of the interim dividend 2023 (relating to the 2022 financial year).

Important points among the banking.

The Monte dei Paschi di Siena it dropped 12% to 1.62 euros. The Sienese institute has communicated that the capital increase involving 1,249,665,648 newly issued shares has been fully subscribed for a total value of 2.5 billion euro.

Intesa Sanpaolo closed strongly (+ 4.84% at € 2.065)after the diffusion of results for the first nine months of 2022 which, according to the management, confirm the institution’s ability to generate solid profitability and create value for all stakeholders even in complex contexts, such as the current ones. IntesaSanpaolo also provided an update on the financial estimates for 2022 and approved an interim dividend for 2022 (relating to the year 2022) of € 0.0738 per share.

Leonardo suffered a 7.73% slide to € 7.566. The aerospace company communicated i financial results for the first nine months of 2022, a period closed with growing revenues and improving profitability. Furthermore, Leonardo’s management has revised some financial estimates for 2022, in particular, the one on orders.

Also Pirelli (+ 11% to 4,058 euros) among the protagonists of the session at the FTSEMib. The company released i financial results for the first nine months of 2022, a period that saw a growth in the main economic indicators, which were better than the consensus of analysts. In light of the operating performance recorded in the period under review, Pirelli’s management updated the financial targets for 2022.

The rally has stopped Telecom Italia TIM, after the sharp rise achieved in the previous four sessions. The title of the telephone company rose by 0.64% to 0.2197 euros.

Tenaris up sharply (+ 3.03% to € 16.645). The company released i financial results for the first nine months and the third quarter of 2022. The numbers for the period January-September showed a strong improvement in turnover and profitability, benefiting from the increase in sales volumes and prices of pipes. Tenaris’s management has provided some financial guidance for the last quarter of 2022 and has proposed the distribution of an interim dividend 2023 (relating to the 2022 financial year) of $ 0.17 per share.