Piazza Affari in decline, thud for Tim

Negative week closing for Piazza Affari, pushed down together with the other European stock exchanges by the negative data from Wall Street. Today was the session of the so-called “Four witches”, that is, four types of structured finance contracts have expired (options on indices and specific, futures on indices and specific). In all, approximately 3,200 billion of index and equity derivatives were maturing. The euro is still below par against the dollar and the price of gas drops in Amsterdam, traveling around 190 euros per megawatt hour.



The Ftse Mib loses 1.14% and closes at 22,110.89 points. The spread between BTPs and German Bunds continues to hover around 230 basis points. On the main stock market in Piazza Affari, the worst stock is Tim (-8.14%). The thud comes after Barclays made a negative report on the company, lowering the target price to € 0.15 and giving an ‘underweight’ rating.

Negative results also for Cnh (-4.74%), Tenaris (-2.55%), Inwit (-2.88%), Iveco (-1.57%), Ferrari (-1.43%), Fineco (-1.68%), Saipem (-2.90%) and Moncler (-1.54%). As for Stellantis (-2.07%), then, investors did not appreciate Acea’s update on the trend in car registrations in Europe in July and August 2022. In these two months, the group first suffered a reduction in the 9% and then an 11% increase. Unipol (+ 0.37%), Banco Bpm (+ 1.08%), Bper (+ 0.63%), Campari (+ 0.46%) and Terna (+ 0.03%) are saved. (in collaboration with Money.it).



Source-www.adnkronos.com