Piazza Affari remains negative. Telecom collapses

Session marked by volatility for bank stocks: Monte dei Paschi di Siena in red. Negative performance also for Stellantis. Leap by Ariston Holding

negative-stock-marketThe major indices of the Italian Stock Exchange and the main European financial markets are confirmed in negative territory 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 14.25 the FTSEMib it was down 0.9% to 22,166 points, after hitting an intraday low of 21,896 points. At the same time the FTSE Italia All Share it was down 0.94%. Minus sign also for the FTSE Italia Mid Cap (-1.34%) and for FTSE Italia Star (-1.73%).

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.

Bad day for Telecom Italia TIM. The title of the telephone company is in discount of 7,94% to 0.1833 euros. 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”.

Volatility session for banking sector stocks.

Among the protagonists there is still the Monte dei Paschi di Siena, after the strong volatility recorded in previous sessions. The title is in 4.25% drop at € 0.3516. The shareholders’ meeting of the Sienese institute approved the proposals for the capital increase and the reverse stock split.

On the other hand, the BancoBPM (+ 0.07%) e BPER Bank (+ 0.42%).

Also in red Stellantis (-1.53% to € 13.474). 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 (+ 13.1% to € 8.315). 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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Piazza Affari remains negative. Telecom collapses

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