The session of continues in positive territory Business Square in the wake of positive indications from Asian markets: China today announced that its third-quarter GDP rose by 4,9%, up on the previous 3,2%. But it is to provide the main upward propellant Atlantia +2,43% around 15 euros, a few hours away from appointments that could be decisive for untie the Aspi knot. The company meets the board at 18 pm, the day after the expiry of the exclusive talks with CDP on the sale of the 88% held in Autostrade per l'Italia. According to rumors, the offer elaborated by Cdp, together with the Blackstone and Macquarie funds, could arrive at the end of the day and push Atlantia to leave the meeting of the Board open to give the board time to evaluate the proposal. Cdp, Blackstone and Macquarie could use the tool of equity syndication to ensure that other subjects, including F2i and other Italian institutions, can invest in Autostrade to guarantee the Italian majority in the operation. The stock is still down 27% year-to-date.
Also positive was the welcome given to Atlantia's sale, carried out on Friday evening, of a 49% stake in Telepass to the Partners Group for 1,056 billion euros, creating a European leader in the digital payments market for mobility.
Also on the rise Asthma +2,04% after the Gavio group company secured the management of numerous motorway sections in the North West.
Business Square gains 0,24% at 12.30 at 19.435, slightly better Frankfurt +0,33%. The other squares were also positive, albeit only slightly.
I BTP they trade at 0,67%, three points above Friday. The spread against the bund it is 131 points. Europe must now deploy its €750 billion of funds to support the pandemic-hit economy and should discuss creating a permanent fiscal instrument for the bloc, said Christine Lagarde, the president of the European Central Bank. “The Commission's aim is to be able to distribute these funds in early 2021 and this timeline must be respected,” Lagarde said on The world. "We also need rapid political progress, especially the adoption of measures by national parliaments."
The rapprochement of positions between the White House and the Democrats on extraordinary measures to support the economy contributes to the positive tone. Wall Street is already focused on quarterly reports: there will be 84 companies that will give the numbers, including Tesla and Netflix.
In the rest of the price list, salt Tim +1% promoted by SocGen. Instead, go negative Moncler -0,4%% despite Citigroup's new target price of 44 euros (+10%).
In the oil sector, it is making progress Tenaris of 0,44% which signed an agreement with Inner Mongolia Baotou to create a joint venture, of which it will have 60%, for the construction of a pipe threading plant in Baotou.
Among the banks, a positive start for Unicredit +1,08% ahead of Mediobanca ed Understanding, around +0,90%- Weak Bper 2,62% on the day the capital increase closes. Bench Bpm +2,62%.
Brakes Ps -3,61%. Prime Minister Giuseppe Conte signed the decree which lays the foundations for the privatization of the bank and allows for the completion of the deconsolidation of approximately 8 billion euro of non-performing loans. The decree is now being examined by the Court of Auditors for preventive scrutiny before publication in the Official Gazette.
Leonardo -0,29%. Deputy Economy Minister Antonio Misiani told the Italian affairs news site on Friday that Alessandro Profumo must not resign after the first-instance ruling on the Monte dei Paschi affair.
To signal the new order of Kairos. After having risen to 100% of the company at the beginning of 2018, the Swiss group, Julius Baer, sold 30% of the shares to some managers of the Milanese subsidiary. Meanwhile, outflows from the Italian company have dropped in recent months, the Swiss group explains in its update note today, bringing the asset under management to 5 billion francs at the end of last September, therefore around 4,65 billion euro against 11 billion in 2017 and 9,4 billion euro recorded in November 2019. Guido Brera, founding partner and Chief Investment Officer Asset Management of Kairos Partners Sgr, Rocco Bove, Head of Fixed Income, and Massimo Trabattoni, Head of Italian Equity, Kairos shareholders return with a total stake of 30%
Meanwhile, Julius Baer, led by the CEO, Philipp Rickenbacher, explained that he had calculated write-downs of 177 million euros on the 2020 results of Kairos "in light of the financial performance of the Italian group.
