Business Square proceeds above parity, in line with the other European stock exchanges, pending the speech that Mario Draghi will deliver in the afternoon in the Chamber, where the premier will present the National Recovery and Resilience Plan. The green light is not in question, given the very large majority on which the Prime Minister can count, but above all the tone and words will have an impact. Draghi, government sources explain to Ansa, will first of all appeal to the "basic philosophy" that innervates the 337 pages of the Pnrr: the challenge is to ensure that once the pandemic is defeated, Italy returns to growth.
In this context, mid-morning, the FtseMib try to lengthen the pace (+0,2%) driven by the good performance of the banks.
The sub-fund's index gains 1,72% to 8.440 points, while the titles of the big names are at the top of the main list. The best is Unicredit, which gains 1,93% closely followed by the shares Intesa Sanpaolo (+1,89%). Also shop on Mediobanca (+ 1,58%) and Bpm bank (+ 1,55%).
Italian banks have done "a meritorious job" in tackling the Covid crisis after "not easy years, in which national and European regulations have required a very significant effort to achieve the longed-for stability", said the minister of the Economic development Giancarlo Giorgetti. Lenders, he added, have "reduced non-performing exposures while strengthening their capital profile." Thanks to these efforts, he concluded, "we can now present ourselves on the markets without the aura of vulnerable fragility that has accompanied us for years".
On the other side of the fence is Leonardo which dropped 2,68% after the announcement of the purchase of 25,1% of the German company Hensoldt (+5,8% in Frankfurt). As per tradition therefore, investors sell whoever buys and buy whoever is bought. We recall that Leonardo's investment is 606 million euros (23 euros per share), with a 48% premium on Friday's closing. Shopping is promoted by Equita analysts according to whom the operation "from an industrial point of view" offers "interesting synergies, mainly commercial (not quantified) by exploiting the geographical complementarity of products, markets, customers and suppliers and strengthening access to respective markets, offering complete solutions to customers”. Furthermore, with the purchase, Leonardo "conquers a long-term strategic presence in the German defense electronics market".
The auto sector was also down with stellantis (-1,58%) And Pirelli (-0,68%), while among industrialists Atlantia rises by 1%, awaiting developments on the Aspi front.
Moving on to the other Stock Exchanges, Paris, Madrid above parity. Frankfurt, on the other hand, was slightly below 0% despite the Ifo index on business confidence in April rising to 96,8 points, above estimates. The spread between Btp and Bund it is at 106 basis points (+2,73%).
