Italian Stock Exchange, suspension of the session of November 22, 2023

Italian Stock Exchange, suspension of the session of November 22, 2023

Piazza Affari’s positive performance during the day was wiped out. In Milan, all eyes are on Enel, which presented its plan until 2026 with all its associated goals, and on the banking sector.

Piazza Affari’s positive performance during the day was wiped out. In Milan, all eyes are on Enel, which presented its plan for 2026 with all its associated targets, and on the banks after the sales that hit them yesterday following the deposit of 25% of MPS’s capital by the Treasury.

3.40 pm The FTSEMib index lost at least 0.02% to 29,148 points While All Share is completely unchanged. The median equity (+0.2%) and star equity (+0.45%) showed moderate increases.

drop In the (-0.59%), which provided its own Strategic plan 2024-2026 And financial goals for this period. The electricity company expects to end 2023 with a normalized gross operating margin of between 21.5 and 22.5 billion euros, with estimates for 2026 ranging between 23.6 and 24.3 billion euros. The normal net profit for 2023 is estimated at 6.4 to 6.7 billion euros. In 2026, profits are expected to rise to between 7.1 and 7.3 billion euros. In terms of dividend policy, Enel plans to maintain a fixed minimum dividend per share of €0.43 for the period 2024-2026, with a possible increase of up to 70% on ordinary net profit if cash flow neutrality is achieved. Enel also expects, between 2024 and 2026, total investments to reach EUR 35.8 billion, including: EUR 18.6 billion in grids, EUR 12.1 billion in renewables and approximately EUR 3 billion in portfolio management clients.

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Among bankers, there is a slight recovery, which is far from closing the gap compared to the previous decline, Monte dei Paschi di Siena (+1.73%) after yesterday’s decline. Moody’s has improved the bank’s ratings, raising the standalone base credit rating to ‘ba3’ from ‘ba1’, the long-term deposit rating to ‘Ba1’ from ‘Ba2’ and the long-term senior unsecured debt rating to ‘Ba3’ from ‘ba3’. “B 1”. The outlook for MPS’s long-term deposits and unsecured debt ratings has been confirmed as positive. Moody’s decision is part of a broader review of the ratings of some Italian banks and follows Italy’s ratings action on November 17. The new independent rating upgrade also reflects, according to Moody’s, the progress the banking institution has made in restructuring, and the greater ability to generate profits and reduce risks, in a more favorable operating context.

Then Moody’s also revised the ratings upwards bancopbm (-0.47%), which places it in investment grade territory. In particular, the agency revised the basic credit rating from “ba2” to “baa3”, the long-term unsecured debt rating from “Ba1” to “Baa2”, and the long-term deposit rating from “Baa2” to “Baa1”. . The rating increase reflects the significant improvement in asset quality and profitability, along with an enhanced capital position, strong liquidity and financing profile. The long-term outlook for the ratings is stable. Other banks such as Intesa San Paolo (+0.75%) e unicredit (-0.34%) but also facilities such as hump (-0.29%), Terna (-1.04%) e italgas (-0.1%).

Stocks with oil-related companies like these appear in strong red Eni (-2.02%) e Tenaris (-2.38%).

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Leonardo Loses 1.88% The Group announced the completion of the public offering in the United States by its subsidiary Leonardo US of a minority interest equivalent to 20,700,000 common shares in Leonardo DRS at a price of $17.75 per share. The amount of shares sold includes 18,000,000 common shares initially offered plus an additional 2,700,000 shares subject to the full exercise of the call option. Following completion of the offering, the option to purchase an additional 2,700,000 shares has been fully exercised, and Leonardo will own approximately 72.3% of the issued and outstanding common shares of DRS.


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