Business Square the race slows down in the middle of the day, but remains above parity together with the European lists, with an increase that came close to 1%. The yield rises ten-year BTP (4,32% against 4,26% on Friday) as well as the spread on German bonds to 2,1%, around 232/233 points, but the increase in yields does not appear to be caused by the effects of Italian elections, already widely discounted by the markets, as well as by the reflections of landslide of the pound, which fell to 0,948 against the dollar (-3%) after the significant budget deviation presented by the government, a strategy which, according to the markets, will not be followed by the new executive of the Bel Paese.
Stock market latest news: sterling at historic lows
The collapse of the pound to historic lows against the dollar involves to some extent too the euro, which has slipped to 0,9690, where it was two decades ago. The British Government Gilt, +30 basis points to 4,13%, is close to the yield of BTPs.
The OECD revises the estimates of Italy's GDP
Among the latest news affecting the Stock Exchange are the OECD forecasts. Italy is on its way to closing 2022 with growth 3,4%, significantly higher than that of Germany (1,2%) and France (2,6%) and second only to Spain (4,4%). These are the estimates contained in the new interim outlook published today by theOECD, which raised its forecasts for Italy by 9 tenths compared to the June projections. For what concern 2023, the OECD instead significantly lowered Italy's growth estimate 0,4% (-0,8% compared to June), which however will remain in positive growth territory, unlike Germany, which is expected to contract by 0,7%.
Milan stock exchange in the spotlight: the stocks that rise the most
Tim
A Milano keeps track of the advance of Tim: +5%, over 0,19 euro, with more than 100 million shares changing hands before 12. Some are betting on the Minerva project signed by Fratelli d'Italia, which seems to bet on a possible takeover bid government” and those who instead bet on the sale of Tim Brasil, endorsed by Vivendi.
Moncler
Galvanized by the Saturday evening in Piazza del Duomo with 1952 dancers and extras on the track, the title Moncler it is exalted on the price list: +3,1% to 42,9 euros. “I am more than confident in the future”, said CEO Remo Ruffini, even though he considered an increase in prices “inevitable” due to the increase in the cost of raw materials.
Finecobank
Another title in evidence is FinecoBank (+4%). Ubs promotes to Buy and raises the target from 13,1 to 14,6 euros.
Milan Stock Exchange today: the stocks that fall the most
Enel
Among the titles that fall the most today 25 September we find Enel (-2,7%). Erg communicated that the Competition and Market Authority has not authorized the sale of the CCGT thermoelectric plant in Priolo to Enel, as it would give rise to the establishment and strengthening of a dominant position. The company sold Celg-D, a Brazilian electricity distribution company, to Equatoriale Energia in a deal worth a total of approximately 7,3 billion real ($1,4 billion), including debt.
Juventus and Exor
Also in sharp decline Juventus (-2,37%) after the accounts approved on Friday: the 2021/2022 financial year closed with losses of 254 million and a net debt of 15, while shareholders' equity amounted to 169 million.
Juventus negatively weighs on Exor (+0,26%) and on the discount on the NAV, which remains above 40%: during 2022, the holding participated pro-rata (63,8%) in the capital increase of 400 million to cover losses and finance the relaunch of the company.
Oil and gas
Brent oil and WTI -1%, on the lows since January. He misses out Eni (-1,6%).
Natural gas USA smooth. European natural gas -6% to 173 euros per mWh. "In 2-3 years Russia will not know where to put the gas, energy prices will collapse, the next 2 years will be difficult but we must resist, we will have other energy sources". This was stated by the president of Acciaierie d'Italia, Franco Bernabè, at the conference of the Knights of Labor "Technology and innovation for an energy transition".
