Positive closing for European stock exchanges in the aftermath of the Federal Reserve meeting. In giving, as expected, the light to the process of progressive reduction of monetary stimuli, the institute led by Jerome Powell reiterated that the tapering, worth 15 billion a month, does not represent an anticipation for an increase in the cost of money.
Good news, remaining on the subject of central banks, also from London, where the Bank of England confirmed, somewhat surprisingly, the reference rate. Even if the BoE has not intervened for now, the Threadneedle Street institute specified, this does not mean that it will remain still in the coming months.
There are two stocks that on the main Milan basket, which closed up by 0.53% at 27,522.05 points, all look down on: Telecom Italia (+ 4.49%) and Tenaris (+ 6.26%) ). The first capitalized the rumors according to which the combination project between TIM’s infrastructure and that of Open Fiber could restart while the second moved in the wake of the quarterly numbers (between July and September net sales grew by 73% annually at $ 1.75 billion).
Day of accounts also for CNH Industrial (+ 0.52%) which, after being pushed down by the results, regained ground during the conference call. Q3 closed with an “adjusted” net result of $ 496 million, up from $ 156 million a year ago. + 23% for turnover, which rose to 7.97 billion. The recovery was dictated by statements made by CEO Scott Wine that the first quarter of 2022 could be better than usual.
Purchases also on Snam (+ 0.83%), which in the nine months recorded an increase in turnover and net profit of 15 and 7 per cent. The interim dividend 2021 of 0.1048 per share has also been approved.
Generali’s takeover bid (-0.42%) on Cattolica (-1.55%) concluded with subscriptions to 60.8% of the share capital, bringing the stake held by the Trieste-based company to 84.475%.
Red by 4 percentage points for the BTP-Bund spread, which fell to 115 basis points. (In collaboration with money.it)