Borsa Italiana, the commentary on today’s session (29 September 2022)

Negative performance for securities in the banking sector and for Enel. Net Insurance aligns with the price of the takeover bid. Positive debt for Franchetti at Euronext Growth Milan

market-falls_2The major indices of the Italian Stock Exchange and the main European financial markets they recorded drops of more than one percentage point. According to Pierre Veyret – ActivTrades technical analyst – investors seem to be losing more and more confidence in the ability of central banks to control the situation. “This situation is truly threatening for many asset classes and further lows before the end of the year remain the most likely scenario for stocks unless investors see a strong positive shift in fundamentals,” the expert speculated.

At 11.15 on FTSEMib it left 1.23% on the ground at 20,597 points, after having fluctuated between a minimum of 20,486 points and a maximum of 20,848 points. At the same time the FTSE Italia All Share it lost 1.25%. Minus sign also for the FTSE Italia Mid Cap (-1.52%) and for FTSE Italia Star (-1.32%).

The bitcoin stands under $ 19,500 (about 20,000 euros).

The BTP-Bund spread it remains below 245 points, with the ten-year BTP yielding nearly 4.7%.

L’EUR is confirmed above $ 0.965.

Negative performance for securities in the banking sector.

Stay in the spotlight on Monte dei Paschi di Siena. The title of the Sienese institute is suspended for excess of discount after scoring a theoretical drop of 9.7%.

Negative intonation also for Is in the (-1.78% to 4.242 euros). The electric giant has announced that it has signed with Sonatrach, the Algerian state oil company, a series of agreements relating to the natural gas supply contracts currently in place between the companies. In particular, the parties have agreed on a supply of additional volumes for 2022 and the possibility of incremental volumes in subsequent years, as well as an adjustment of the sales prices that take into account current market conditions.

Net Insurance records a jump of 15.6% to 9.36 euros. Poste Vita, a company wholly owned by Italian post, announced its intention to launch a voluntary, totalitarian public purchase offer for cash on the company’s ordinary shares. The consideration that will be offered for each share is equal to € 9.5, while the consideration that will be offered for each warrant is equal to € 4.81. The price offered for the Net Insurance shares is equivalent to a premium of over 17% compared to the closing value of the stock in the session on 29 September (8.1 euros).

At Euronext Growth Milan focus on Franchetti, on the day of its debut in the price list dedicated to dynamic and competitive SMEs. The title records an increase of 10% to 3.3 euros. The company’s shares were placed at € 3, with an initial capitalization of € 11.2 million.

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About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

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