Bags, Omicron weighs on Europe: week in plaster. Unicredit runs on Piazza Affari

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(Il Sole 24 Ore Radiocor) – The week was not very moving for the main European lists which closed in contrast with respect to Friday 26 November. Trading was affected by concerns over the Omicron variant as investors question central banks’ next moves in light of the inflation flare-up. Meanwhile, attention remains focused on the macroeconomic situation. The Ftse Mib recorded + 0.33% in the eighth, supported above all by the performance of banks and asset management. Positive weekly balance also for the Ftse100 in London (+ 1.11%) and the Cac40 in Paris (+ 0.38%). A negative sign for the Stoxx 600 Europe (-0.28%), with the Ibex35 in Madrid taking the back seat among the main European markets (-1.92%). Weak closing also for the Aex in Amsterdam (-1.2%) and the Dax40 in Frankfurt (-0.57%). In Piazza Affari, among the stocks, the best increases were those of Unicredit (+ 6.06%), Banco Bpm (+ 4.81%) and Banca Generali (+ 4.55%). The opposite trend for Diasorin (-5.66%), Enel (-4.25%) and Tim (-3.35%).

Friday 3/12 closing down, disappointing data on US jobs

Subdued closing for the European stock exchanges in the last session of a week marked by volatility. The indices had started up but in the course of trading they reversed the course, also thanks to the decline in Wall Street, held back by the US employment data: the closing was then negative, Dj -0.17%, Nasdaq -1, ninety two%.

210,000 new non-farm jobs were added in November, while analysts had expected more than double the increase. However, the report did have some strengths: the unemployment rate dropped to 4.2% from 4.6% and hit a new low during the pandemic and labor force participation also rose to 61.8% with approximately 594,000 people returned to the world of work. The Ftse Mib in Milan lost 0.26%, the Cac40 in Paris by 0.44% and the Dax40 in Frankfurt by 0.61%. In Europe, meanwhile, the president of the ECB, Christine Lagarde, confirmed that it is “very unlikely that there will be an increase in interest rates in the course of 2022”, while stressing that the Eurotower is “ready to act”.

Among the stocks, in Piazza Affari it closed at the bottom of the main segment Nexi (-3.05%). Tim was also weak (-2.23%), on the day the examination of Kkr’s offer began. Opposite sign for Unicredit (+ 1.09%), which went against the trend compared to other banking stocks.

FTSE Mib stock market trend


Recordati weak after the 750 million deal

The stock market had an initial positive reaction to the move by Recordati, which purchased Eusa Pharma, a UK-based global specialist pharmaceutical company, focused on niche rare and oncological diseases and controlled by funds managed by Ew Healthcare, for 750 million. Partners. Then the stocks went negative, reflecting the general weakness of the market. According to Equita analysts, the deal “on the whole is to be considered positively even if the entry multiple is high”, ie 6 times the current sales and 23 times the estimated gross operating margin in 2023. High numbers, “justified by the fact of being rare diseases, in the oncology segment and with high growth potential; the exploitation of the technological platform for new therapies is to be explored “, adds the broker, who points out that the transaction” sanctions Recordati’s entry into the oncology world and the options for expansion are to be evaluated “.

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