Volatility, the basic ingredient of the season of uncertainty, has once again imposed its laws. And so the most targeted stocks on Thursday lead the rebound by Business Square Approximately +1,4%, without the news offering particular ideas to justify the change of course. And you don't need to be a soothsayer to predict that the script will repeat itself when the US markets open, partly conditioned by an unprecedented phenomenon: part of the subsidies disbursed by the Treasury (1.200 dollars each) have been channeled towards the free trading platform (called Robinhood), to fuel purchases on the Stock Exchange. Nothing of the kind is reported, at least for now, on the Italian front, even if the trading platforms are in good if not excellent health. But, on the eve of the weekend of the States General, there are numerous hot spots on the list.
- Leading the rally is none other than Atlantia +5,8% which recovers a large part of the losses on the eve (-9,1%) linked to the accounts in the red of the quarterly but also to the stalemate on the front of the concession which the users of the motorways forced to proceed are already paying for at walking pace on routes vital to trade, waiting for tourism which will sooner or later return. At Ebitda level (1,271 billion compared to 1,204 expected): but there is a thick fog on the negotiation with the State.
- Equally dynamic Cnh Industrial +2,77% after the abysmal losses on the eve. Exor's trucks and tractors now depend on the tantrums of Nikola, the US start-up that wants to operate in the electric and hydrogen truck sector, in open competition with Tesla. Shares in Phoenix, Arizona, fell about 7% yesterday. A rebound is not excluded.
- Always high attention on Mediobanca +2,2% which promptly recovered yesterday. The words of Andrea Enria, chairman of the Supervisory Board of the ECB, restored the serenity to the sector, today the best in the Eurozone: "the stop on the distribution of dividends and buybacks is an exceptional and temporary measure, we will remove it as soon as the economic uncertainty has eased and the recovery will be based on solid foundations”. "We will clarify better - he added - our position on the distribution of dividends in July". The minirally of banks could restart as follows: the European sector is still discounting a pessimistic scenario linked to the consequences of the coronavirus, which translates into an expectation of a sharp increase in non-performing loans and a further postponement of the stop on dividends and buybacks. The lag of the Stoxx index of Banks since the beginning of the year is still wide: -34% against -13% of the global Stoxx index.
- Meanwhile, Intesa and Ubi (plus Bper) are preparing for Consob's examination of the public offer prospectus launched by the Milanese bank. Once the prospectus has arrived at the college, the final decision must be taken in 5-10 days, but the possibility of an even faster decision (1 day) is not excluded, which will focus on the number of branches to be transferred to Bper.
- A must, on the day football resumes, is a nod to Juventus +4%. the private equity fund Bain would have made an offer to the football league to buy 25% of the media company that will manage the TV rights of Serie A in the coming years. This offer exceeds CVC's previous offer of $2,2 billion for a 20% stake. Thus, Iralia returns to the ball. It's a good sign.
