THEpolitical uncertainty it does not penalize the Milan Stock Exchange, which floats around parity together with the other European lists. In the middle of the day, Business Square scores +0,2%, ahead of Paris (+ 0,06%), Frankfurt (-0,1%) And Madrid (-0,2%). Outside the Eurozone, London + 0,2%.
Tension is also decreasing on the public debt market, with the spread reversed to 130 basis points.
The title is highlighted on the Ftse Mib Pirelli, which gains 2,9% in the wake of quarterly, achieving the best rise of the main index of Piazza Affari. Well too stm (+ 2%), Azimuth (+ 1,2%) and Telecom Italy (+1,4%) on the eve of the quarterly report and Wednesday's board meeting.
StMicroelectronics' second quarter will be the seventh consecutive quarter in which the group reports double-digit revenue growth with an expected increase of 17,8%. This was stated by CFO Carlo Ferro speaking at the group's capital market day in London. In the first quarter, the group reported net revenues of 2,23 billion euros, up 22,2% on a year ago while profit more than doubled, rising from 108 to 239 million euros.
Atlantia instead travels in negative (-0,4%), despite the successful conclusion of the operation acquisition of the Spanish company Abertis created together with the German Hochtief, controlled by the Spanish group Acs. Yesterday it was announced that the minimum threshold for subscriptions to the tender offer, equal to 495 million shares, had been exceeded.
Subdued return to the Ftse Mib for Banca Mediolanum (-0,6%), which from today returns to be part of the main index in place of Ynap, after the online group was the subject of the takeover bid launched by the Swiss Richemont. The institute's shares have been under pressure since last May 10, the date of the publication of the accounts for the first quarter of 2018, closed with a consolidated net profit of 59,5 million, down 30% on the year.
Falck Renewables moves from the FTSE Italia Small Cap Index to the FTSE Italia Mid Cap Index. This was communicated by FTSE Russell, following the changes made to the indices, with a communication dated 10 May. “This is an important step – declares the managing director Toni Volpe – which entails greater visibility towards institutional investors, as well as entry into the FTSE Italia PIR Mid Cap and FTSE Italia PIR Large & Mid Cap sub-indexes”.
On the Ftse 100 the title Vodafone leaves 3,2% on the ground. The surprise announcement of the shares weighs on the shares of the British telecommunications giant resignation of Vittorio Colao, who will step down as CEO in October after 10 years at the helm of the group.
Difficult day also for another telecommunications big name, Iliad, which on the Cac 40 drops by 17,4%. "This morning the group published disappointing results, below the consensus, with a decline in fixed telephony and average revenues per subscriber," Bryan Garnier's analysts explain. In the first quarter, Iliad's revenues rose by 0,8% to 1,2 billion euros, while expectations pointed to an average of 1,26 billion. Fixed line subscribers decreased by 20 thousand compared to the end of 2017 and fixed line turnover fell by 1,6% in the quarter. In mobile, on the other hand, the group recorded an increase of 130 subscribers, with revenues up by 3,9%. The French group also defined the launch of the service in Italy as "imminent", which will take place "before 21 June". In the initial plans, the launch was foreseen for the end of 2017 or the beginning of 2018.
