Borsa Italiana, the commentary on today’s session (June 2, 2021)

Yesterday, the main Borsa Italiana index returned to the levels reached before the outbreak of the Covid-19 pandemic. Interpump’s progress stands out

stock-market_3The main European indices continue with little marked variations after a cautious start. Piazza Affari is slightly up, with the FTSEMib restarting from a recovery finalized in the past few hours: the main index of Piazza Affari reached 25,300 points yesterday and returned to the levels reached on February 19, 2020, before the outbreak of the Covid-19 pandemic. Among the individual stocks, the progress of Interpump and the good moment of the oil sector stand out. Banks in mixed territory.

All 12.15 the FTSEMib rose by 0.26% to 25,387 points while the All Share increased by 0.22%. In mixed territory Mid Cap (-0.06%) and Star (+ 0.86%).

Exchange euro Dollar at 1.22 while lo spread between the ten-year BTP and the German Bund of the same duration remains on 110 points.

It continues in decidedly positive territory Interpump (+ 6.52%) which announced that it had signed a binding agreement for the acquisition of the White Drive Motors & Steering business unit from the Danfoss group. The transaction is expected to close in the fourth quarter of 2021 following the acquisition of Eaton’s Hydraulics business by Danfoss. The consideration for the transaction, to be paid in cash at closing, will refer to an enterprise value quantified at € 230 million, plus an estimated share of € 40 million, which varies according to the gross operating margin at closing pro-format to the entire 2021.

Oil in the spotlight, with ENI up by 1.17%. Crude oil has touched its recent highs in the past few hours after the last OPEC + summit. The association of some of the major oil producing countries has confirmed the previous commitment to gradually return to production of 2 million barrels per day. Thus the WTI has passed the 67 dollars a barrel while the Brent price is more than 70 dollars a barrel.

Banks in no particular order. Intesa Sanpaolo salt of 1.12%, UniCredit unchanged while BancoBPM drops by 0.34%.

There is one of the most troubled titles Atlantia (-2,62%).

On the rise Stellantis (+ 0.95%) after a red start. In May 2021, the group’s registrations amounted to just over 56 thousand units (+ 49.5% compared to May of the previous year, characterized by the first Covid-19 lockdown). As a result, Stellantis’ market share stood at 39.3%. According to data from the Ministry of Transport, almost 143,000 cars were registered in Italy in May 2021, an increase of 43% compared to almost 100,000 in May 2020.

To follow again Cattolica Assicurazioni (+0.79) after the announcement of the intention of General (-0.12%) to proceed with a takeover bid. The stock of the company listed on the MidCap is worth more than 7 euros, well over the 6.75 euros offered by the Lion of Trieste. A sign that someone among the experts does not exclude an upward retouching of the values ​​placed on the plate.


Borsa Italiana commentary todays session June

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