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The values of the banking sector remain in the spotlight, after the correction suffered in recent days. More sales on UniCredit. Well illimityBank and MPS
The main indices of the Italian Stock Exchange and the main European financial markets they try the rebound, after the strong correction suffered in the previous session. According to Fabrizio Quirighetti – CIO Head of Multi-Asset of Decalia Asset Management – volatility could offer some entry points, both to build some positions and to strengthen others. “In other words, I do not think that the global risk of a portfolio is greatly increased by increasing stock market risks, as long as it is done in a way that more or less rebalances the positioning,” the expert points out. Andrea Scauri, Lemanik’s share manager in Italy, also believes that volatility will remain relatively high in the coming months, due to the increasing infections by Covid-19, the low visibility of the evolution of the macroeconomic situation, as well as political events, such as the US elections and trade tensions between the United States and China. “In a similar context, we remain largely positioned in the public services and infrastructure sectors; instead, we remain cautious in the consumer and banking sectors,” said the expert.
At 12.55 in FTSEMib it registered an advance of 1.15% to 19,009 points, after having fluctuated a minimum of 18,803 points and a maximum of 19,038 points. At the same time FTSE Italia All Share won 1.14%. Plus sign for him FTSE Italia Mid Cap (+ 0.8%) and for Star of FTSE Italia (+ 0.9%).
L ‘euro has once again exceeded $ 1,175, while bitcoin It is confirmed at $ 10,500 (less than 9,000 euros).
The spread Btp-Bund fell below 140 points.
Banking sector stocks remain in the spotlight, after the strong correction suffered in recent days.
Still sales go up UniCredit (-1.08% to 7.02 euros). According to what was written in La Repubblica, in recent weeks the Treasury has contacted the institute chaired by Jean-Pierre Mustier to sell its 68.5% stake in the Monte dei Paschi di Siena (+ 5.27%). The newspaper specified that the CEO of UniCredit had asked for precise guarantees on the operation, in particular, “a financial framework of absolute neutrality in terms of the impact on capital. Meanwhile, Credit Suisse analysts have downgraded its rating on UniCredit, taking it from “Better performance” (it will do better than the market) to “Neutral”; the experts confirmed the indicative price of € 9.5.
unlimited bank registers an increase of 2.51% to 9 euros. The institute and Fabrick (a company of the Sella group for the development of open banking and the fintech ecosystem in Italy and current 100% shareholder of HYPE) have reached a joint-venture agreement in the fintech HYPE. In detail, the bank listed in the STAR segment will acquire a 50% stake in the capital of HYPE through a series of corporate transactions involving the transfer of a commercial branch of illimityBank, the subscription of a capital increase in HYPE in cash for millions of euros functional to HYPE’s industrial plan, and newly issued shares reserved for Fabrick equivalent to 7.5% of the share capital for an approximate value of 45 million euros. Based on the agreements, once the operation is completed, the Sella group will now own 10% of illimityBank through a new 2.5% increase in reserved capital at the price of 8,337 euros per share subscribed by the parent company Banca Sella Holding for an amount of 16.5 million euros.
Focus on stocks in the oil sector.
Positive trend for ENI (+ 2.66%). From the communications issued by Consob on September 22, 2020, we learn that on September 11, UniCredit presented its stake in the capital of the oil giant, which raises it to 0.981% from the previous 1.004% on September 9 . The same commission announced that since September 14 the institute is one of the main shareholders of Saipem (+ 0.72%), with a 1.102% stake in the capital.
