Only a handful of titles end the month of July in MY BAG with substantial decreases, above 1%, against a Ftse Eb which gains 4,39% with widespread increases on most stocks. Sales mostly hit oil and asset management. The the most pronounced collapse concerned Saipem -16,59%, followed by Azimut -13,23%, Tenaris -5,06% and Mediolanum -1,85%. Eni -0,39%. However, Unicredit -0,75% and two industrialists also ended up in the red: Pirelli -0,65% and Cnh Industrial -0,56%.
Opposite trend for the rest of the Lingotto galaxy: FCA is among the best of the month with an increase of 8,5% driven also by the purchases of the last few days of the month in the wake of the quarterly accounts and the upward revision of the targets for 2015. The automotive group led by Sergio Marchionne in fact, it closed the semester with rising profits by 69% to 333 million euros and revenues up by 25% to 29,2 billion, earning the applause of analysts. For Equita Sim, for example, the accounts for the second quarter were better than expected at all levels also thanks to the exchange rates and the stock still needs to be purchased at a target price revised upwards by 8% to 18 euros. Now the group expects to close the year with revenues of over 110 billion euros compared to 108 billion in the previous forecast, while adjusted Ebitda is expected to be equal to or greater than 4,5 billion euros, compared to the previous range set at 4,1-4,5 billion. Still in the Agnelli galaxy, Exor climbs 6,49%.
On the whole, July, despite the turbulence linked first to Greece and then to China, saw performances on the rise for most of the Ftse Mib stocks (31 out of 40) with double-digit performances for six of these. Best title was Buzzi Unicem +21,7%, which benefited from theItalcementi-Heidelberg operation. The Pesenti cement group has announced the passage into German hands which provides for the sale to Heidelbergcement to sell 45% of the company for 1,67 billion euros. Subsequently, Heidelbergcement, which obtained a 4,4 billion bridge loan from a consortium of banks, will launch a mandatory takeover bid on the entire share capital of Italcementi at a price of 10,60 euros per share, which incorporates a premium of 70,6, 68,19% for shareholders. The Italcementi share listed on the All share among the Mid caps (therefore not on the Ftse Mib) closed the month with a leap of 44,69% as did the parent company Italmobiliare +49,20% (with savings at +XNUMX, XNUMX), best stocks of all Piazza Affari in the month.
Second best stock of the month is Finmeccanica +16,1%, followed by Mediobanca +12,4% which in the last session of the month reached its highest level since 2008, benefiting from press rumors of an interest in the English company Cairn Capital, active in credit asset management. Piazzetta Cuccia did not confirm, making it known that it is looking around the sector.
Double-digit increases also for Generali +10,22%, Moncler +11,47% and Luxottica +10,05%. The other two luxury blue chips are more distant: Ferragamo +5,78% and Yoox +5,57%. The purchases moved on the whole in no particular order, driven mostly by the individual stock histories. The banking sector, for example, recorded the red of Unicredit -0,75% and the good rise of Mediobanca +12,4%, amidst moderate purchases by Ubi Banca +2,14% and Bmps +2,52% against a more sustained interest for Bpm +4,74%, Banco Popolare +6,64% and Intesa Sanpaolo +6,69%. However, it should be emphasized that the quarterly season has just begun with Ca' De Sass which just yesterday announced an almost tripled profit, confirmed the two billion cash dividend and is open to an improvement in shareholder remuneration. The stock closed up 1,27% yesterday.
