In Piazza Affari shines the star of Saipem, which gains 2,6% in the middle of the session, posting the best rise in the Ftse Mib. The plant engineering company of the Eni group closed the first half with a net loss of 323 million euros – net of write-downs and charges of 329 million – down on the loss of 110 million recorded in the same period last year. Therefore, the purchases of the stock were not triggered by the accounts, but by the announcement of a new strategic orientation, with the consequent modification of the organizational model. In essence, Saipem now identifies its main business in the sector Engineering & Construction Offshore, while for drilling it opens up to possible partnerships, even if CEO Stefano Cao specified that at the moment there is no operational hypothesis.
On the opposite side of the main index there is stm, worst stock of the day (-3,2%, after yesterday's +4,12% supported by the Nasdaq rally). The chip company today announced quarterly figures approved yesterday by the board: net revenues reached $2,27 billion (+18,0% year on year), while net income stood at $261 million. dollars, 4,5% more than forecast (249,7 million). The gross margin also did well, at 40,2%, slightly higher than the estimated 40%. The sales on the stock, in addition to the profit-taking after the rise in the last session, can also be explained by a clarification from the company: Stm announced that the macroeconomic and industrial sector trends are difficult to decipher and can have a impact on the demand for products on the part of the final market.
Among the other titles in the spotlight, the Agnelli galaxy is still losing ground: Exor -0,7% fca -1% Ferrari -1,3% and Cnh -0,3%. Today, just on the day of death of Sergio Marchionne, Fiat Chrysler publishes the results of the first half of the year, the first test case for the new CEO Mike Manley. After all, after yesterday's rebound, the auto sector is once again in trouble throughout Europe due to the new threats of protectionist measures from the United States.
Also noteworthy is the rise of Telecom (+0,7%), which closed the first half of the year with earnings up 3,7% and made it known that it had examined the issue of commitments - not envisaged in the business plan - which may derive from participation in the 5G tender. The company is also evaluating strategic options for its subsidiaries and confirms that the Persidera sale process is moving forward.
Meanwhile, the Ftse Eb fluctuates around parity, on a day with little movement also on the other main European markets: Frankfurt -0,1% Paris +0,3% and Madrid -0,3%. It gets worse London (-0,6%). Investors remain cautious as tension mounts over stand-off duties, on the day when the American president Donald Trump meets the head of the European Commission in Washington, Jean-Claude Juncker.
As for the debt market, lo BTP-Bund spread it is down to 225 basis points, after having reached a maximum of 238 only yesterday, the highest level since July 12th.
On the currency front, theeuro it is trading at 1,1691 dollars (compared to 1,1706 at yesterday's close) and 129,981 yen (from 130,06), while the dollar/yen exchange rate is at 111,189.
Il Petroleum continues to rise, albeit in a context of weak trade: WTI futures in September rise by 0,55%, to 68,9 dollars a barrel, while those of Brent in September increase by 1,03%, to 74,2 $.XNUMX.
