Borsa Italiana, Commentary on June 29, 2023

Borsa Italiana, Commentary on June 29, 2023

The leading indicators for Avary Square rose. Banking and energy-related securities led the market

The leading indicators for Avary Square rose. Banking and energy-related securities led the market.

At 16.15 FTSEMib rose 1.01% to 27,917 points While the stock rose by 0.93%. On the other hand, Mid Cap (+0.08%) and Star (+0.42%) were contained.

On the Milan Stock Exchange, the performance of some banks stands out, MBS Bank (+1.64%) of all. Il Sole24Ore interview with Nicola Maioni, Chairman of the Board of Directors of Sienese Bank. According to the director, now that he’s out of the fray, the Sienese Institute has him Opportunity to move proactively within risk banking, to become the focus of the third banking pole behind it Intesa San Paolo (+0.97%) f UniCredit (+2.72%). Maione declares its pride to be involved in the tremendous work of restarting the running machine and making it more efficient. He further explains that:Today MPS no longer needs to join forces for ruggedness reasons But instead, there are all conditions for continuing to project real value and to consider the perspective.”

Also shop at BancoBPM (+2.54%) and Bank Paper (+ 1.25%).

Also good Saipem (+3.35%), which was awarded Two new contracts. The first is related to EPCI’s offshore activities in the Middle East, and the other is related to the development of underwater drones in Brazil. the The total value Of these new acquisitions are approximately $1 billion. More specifically, under the long-term agreement (LTA) in force with Saudi Aramco, Saipem has been selected to allocate a new offshore project. In addition, Saipem has been awarded a contract by Petrobras (Brazil) to develop and test an autonomous automated solution for subsea inspections, which will be based on Saipem’s fleet of underwater drones.

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Also highlights Tenaris (+4.16%).

Shareholders meeting pirelli (+0.2%) They approved the financial statements for the year 2022. The company decided to distribute A Dividend 2023 (relating to fiscal year 2022) 0.218 euros per ordinary share, for a total of 218 million euros. The voucher will be detached on Monday 24th July 2023 and paid as of 26th July.

in the directory Mondadori (Editor’s note: Publisher, by Mondadori Media, also SoldiOnline.it), up 3.65%. Publishing group Revising estimates and targets for 2023 previously communicated to the market upwards in light of the more favorable development over previous estimates in respect of both business and key factors of production prices The company confirmed that Single-digit revenue growth (1-10%), with a gross operating margin Adjusted now it’s expected to grow between high single-digit and low double-digit (therefore between about 8% and 12%) compared to the previous single-digit percentage estimate, by a margin of between 16% and 17% (it was projected at 15%). Mondadori also expects a growth of 20% net income, an estimate that doubled compared to previous expectations, thanks to operational optimization and the sale of the stake in Il Giornale. L’net financial debt of the group in 2023 at 1x adjusted EBITDA, down from 1.3x at the end of 2022.

Prismian (+0.7%) reached a milestone with Eastern Green Link 2joint venture between SSEN Electricity Transmission Network and National Electricity Grid, owners of electric transmission systems in Great Britain. Prysmian has been selected as the exclusive preferred bidder, for €180 million to build the Eastern Green Link 2 cable.

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Also to follow up venture (+0.3%) f digital magic (+2.23%): The respective boards of directors approved the merger between their companies.


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