Stock market, eyes on the quarterly and Fed squeeze
After a red-stained Monday and aswing opening with increases of up to 1%, a half sitting the European price lists fall back on again parity. To weigh the nervousness among the operators for the next moves of the central banks and waiting for the data onAmerican inflation January scheduled for Thursday 10 February. But not only. TO Piazza Affari also generates tensionspread effect. In the middle of the day then Milan And Paris mark an increase of 0.2%, Frankfurt write it below 0.2% e Madrid down by 0.7%. In Europe the titles weigh tech while the prospects of a rate hike favor banks and insurance companies. The raw materials segment is also growing.
TO Piazza Affariwhere the quarterly season begins, the entire sector of credit: ahead Mps and Credem, respectively up by 7% and 5%, celebrate after the publication of the annual accounts. In particular the Sienese bank closed the last financial year with a net profit of 310 million after having registered a red of 79 million in the last quarter of the year, realizing a Operating income net of 629 million.
Revenues also grew thanks to better commission dynamics. Mps also recorded a profitability (Rote) of 5.3% despite the negative impact on system charges of approximately 3 percentage points. The stock of impaired persons is stable at 4 billion. To pay also the change to the summit with the appointment of the new one to Luigi Lovaglio. While the litigation related to financial reporting fell by 70% compared to 2020. The fully loaded Cet1 capital ratio grew to 11% (9% in December 2020). Furthermore, a possible shortfall of 150 million at the end of 2022 was highlighted.
According to analysts from Equity “the revenue trend in the fourth quarter was slightly higher than expectedwhile costs, or 519 million against the expected 535 million, increase to a lesser extent than expected: up by 1% against the + 4% expected, although the cost / income still remains high at 72%. There main negative surprise, adds the broker, compared to our expectations it is linked to a higher cost of risk which includes an increase in provisions due to the reclassification of overdue moratoriums to NPE, 3.7% of the total.
In the end, Equity he concludes by underlining that “the estimates are currently confirmed pending indications from the new CEO and the conversations with the ECB“:” We therefore remain cautious on the bank given the high uncertainty in view of the review of the plan and the size of the capital increase. “The opinion is hold with a target price of 1.2 euros: essentially in line Mediobanca which has a neutral rating and a target price of 1.1 euros.
Returning to the main titles of the Milanese list, Bper, Unicredit and Unipol they go up by more than 2%. The achievements are back on utility with Hera which yields 1.6% while Telecom Italia it is still at the bottom of the list down by 2% on the prospects of a strengthening of Iliad in Italy with the maxi offer for Vodafone assets. On the foreign exchange market, the euro it travels around $ 1.142 (from 1.1443 yesterday at closing) and 131.7 yen (131.6) while the dollar / yen is worth 115.3 (from 115.02). The Brent it is down to $ 90.9 (-1.87%).
READ ALSO:
Mps, Bastianini reports the bank in profit of 310 million. At the top for six years
Inflation, Lagarde: “At 2% by 2023. But Goldman sees 2 rate hikes
Mps, proxies withdrawn to Bastianini (ready for the cause). Lovaglio already co-opted
#stock #exchanges #uncertain #spread #cools #Mps #celebrates #Lovaglio #shines