Piazza Affari opens above par and then accelerates (+ 0.9%) ignoring the war in Ukraine which has entered its second month and the volatility of the Asian markets due to the tight lockdown in Shanghai, where only essential services have been confirmed. The slowdown in China is causing US WTI oil to lose 4.4% to 108 dollars a barrel. Meanwhile, the EU Council summit last week failed to agree on further sanctions against Russia despite the presence of US President Joe Biden. The spread is down to 149 points, while the ten-year BTP yield travels sideways at 2.1%. Wall Street futures remain in the red for now averaging 0.45%.
In evidence in Piazza Affari Maire Tecnimont (+ 4.5%), Telecom Italia after the clarifications to the market on CVC (+ 2.5%), Leonardo (+ 1.7%), Unicredit (+ 1.6%), Mps (+ 1%), Intesa Sanpaolo (+ 0.7%) and the entire financial sector. Oil stocks are down: Saipem -0.6%, Eni -0.8%, Tenaris -1%.
Today on the macro agenda is expected at 1 pm the speech by the Governor of the Bank of England, Andrew Bailey, on the economy, followed by a speech by Andrea Enria, chairman of the supervisory board of the ECB at 6.30 pm and in the late evening on speech by US president, Joe Biden, on the 2023 Budget.
Telecom Italia remains in the spotlight. This morning the TLC group specified, at the request of Consob, that talks with the American fund KKR continue to acquire “the information necessary to judge the concreteness, relevance and attractiveness of the non-binding event” dated November 2021 (a takeover bid at € 0.50 per share).
Furthermore, Tim specifies, in the late evening of March 25 last, a non-binding proposal was received by the English CVC fund to take over a minority shareholding in a company, to be established in the event of completion of the transaction, in which the activities would be included. of the Enterprise division of Tim (connectivity and ICT services) as well as those of Noovle, Olivetti, Telsy and Trust Technologies “. The proposal will be submitted to the board of directors. It would be, writes Reuters, an offer of up to 49%. CVC requested a 10-week exclusivity, including 8 weeks to complete a diligence.
The board of MPS will meet on Wednesday to approve the capital plan requested by the ECB, according to Reuters, according to which the bank should reconfirm a capital requirement of 2.5 billion euros. The new one to Luigi Lovaglio aims to prepare an updated strategic plan by June and to complete the capital increase in October.
Francesco Gaetano Caltagirone has lifted the veil on his plan for the future of Generali with which he challenges the CEO in charge, Philippe Donnet, promising double-digit growth in profits and a firepower more than doubled through acquisitions, to make the company a large multinational company with Italian sovereignty. Borsa Italiana announced on Friday the resignation of its chairman Andrea Sironi (who was replaced by the deputy, Claudia Parzani), indicated as the new chairman of Generali in the list expressed by the outgoing board of the company, supported by the first Mediobanca shareholder.
Maire Tecnimont has been awarded new orders for a total value of approximately 200 million dollars in the technology-driven core business. Buzzi Unicem closed 2021 with a net profit down by 3.2% to 542 million euros and a gross operating margin that grew by 1.8% to 795 million. The company said it was unable to make timely predictions on the effects of the conflict in Ukraine.
On Terna, the S&P rating agency confirmed the BBB + rating, with a positive outlook. Rating confirmed on the company also by Scope, at A- with stable outlook. Rai Way announced the resignation for personal reasons of President Pasciucco and director Stefano Ciccotti. The board of directors “will meet for the relevant appropriate assessments”, reads a note.
Azimut has in the past thought of the spinoff of any of the five companies under the umbrella of the group, but this would mean losing the speed of decision that has always been characteristic of its business, President Pietro Giuliani said today in an interview.
The outgoing president of Dea Capital, Lorenzo Pellicioli, explains in an interview that there are no new investors on the way “because DeA Capital like Igt and the publishing group are among the strategic activities of the De Agostini group”. He adds that no offers have arrived “because we are not for sale”.
Dba Group has sold the equity investments held, directly and indirectly, in the capital of Actual IT to the Slovenian national operator Telekom Slovenije. The sale price was agreed on the basis of an enterprise value equal to a total of 30 million euros.
At the close, on Friday afternoon, of the totalitarian takeover bid launched by Trinity Investments Designated Activity Company on Banca Intermobiliare, the latter was delivered shares equal to 9.04% of the share capital, for a value of approximately 10.3 million euro . The bidder will therefore come to hold a stake of 96.53%, exceeding the threshold that triggers the right to purchase the remaining shares, which will be followed by the delisting of the company. (All rights reserved)
