It cannot be said that the beginning of 2017 was one of the most brilliant for Piazza Affari. Many fireworks on the Milan Stock Exchange in January, but goodbye to the psychological threshold of 19 basis points.
After the December mini-rally (+18,5%), the index Ftse Eb had an up-and-down month, registering at the end of these 31 days of great surprises and just as much volatility, a drop of 3,3% under the pressure of the infinite vicissitudes of the banks and under the ballast of political uncertainty linked to the prospect of possible early elections.
As far as the banking sector is concerned, it is impossible not to mention that the year opened with the debut on the stock exchange stage of Banco Bpm, the third bank born from the merger between Popolare di Milano and Banco Popolare which during the first month of trading achieved a 14,7% increase to 2,67 euros. Among the banking institutions, only Ubi Banca has managed to do better, which in the last 31 days has risen by almost 23% following the acquisition of the three good banks.
But if there are those who have gained, there are also those who have lost. Among the absolute protagonists of the month of January we also find the Unicredit title (-9,2 in January). The bank led by Jean Pierre Mustier, in addition to having estimated a loss for 2016 of 11,8% due to "extraordinary write-downs", is currently grappling with the largest capital increase ever made in Italy (13 billion euros ) and today will reveal the offering price of the new shares.
Also down sharply Intesa Sanpaolo (-9,87% since 30 December) entry of momentum into the risk of Generali (+4,65%) which also involved Mediobanca (+3,17%) and Unicredit itself. Between Saturday and Sunday the Milanese institute's offer on the insurance company directed by Philippe Donnet should arrive as part of a deal that will certainly be the focus of investors' interest in the month of February.
Outside the banking sector, Fiat Chrysler Automobiles survived the dieselgate unscathed born following the accusations by the US Authority, according to which the Italian-American car manufacturer allegedly violated the Clear Air Act, fixing the emissions of around 104 thousand vehicles. An event to which FCA reacted strongly and which seems to have dismantled day after day, so much so that the stock ended the month with an increase of more than 16%.
Remaining in the main basket not to be forgotten too the merger between Luxottica (-4,6% since the beginning of January) and the French company Essilor. An operation that is worth 50 billion euros and will give birth to a company with a turnover of over 15 billion and 130 thousand employees which, however, will leave Piazza Affari to be listed only in Paris and perhaps, subsequently, in New York.
But January also brought with it another important novelty in the Italian market such as Pir debut, individual savings plans which represent a new and significant investment opportunity for families who decide to direct their capital to Italian SMEs.
Returning to Piazza Affari, as per tradition, the best and worst performances since the beginning of the year have not been achieved by blue chips, but by smaller (and therefore also more liquid and volatile) stocks listed outside the Ftse Mib.
Below, here are the 10 biggest gains since the beginning of the year:
1- Tas: +237,28%;
2-Full Six: +102,55%;
3-Gequity: +99,66;
4- Industry and Innovation: +76,60;
5- Rosss: +70,32;
6- Chl: +59,29;
7- Zucchi: +49,75;
8- Pierrel: +41,64;
9- Guglielmo Marconi Airport of Bologna: +39,94;
10- Premuda: +38,52.
Below here is the 10 biggest declines since the beginning of the year:
1- Dmail Group: -47,47;
2- D'Amico: -25,55;
3- Safilo Group: -19,23%;
4-Saras: -16,5%;
5- Centrale Del Latte D'Italia: -13,61%;
6- Yook Net-A-Porter Group: -13,61%;
7- KR Energy: -13.37%
8- Saipem: -11,18%;
9-Dada: -11,15%;
10- Digital Bros: -11,11%.
