Positive day for the European stock exchanges, in the wake of the American ones. The investor’s view is that the outcome of the US midterm election will ultimately provide the basis for a rally, with widespread gains. The Biden government, however, could also emerge very weakened, given that the Republicans of Donald Trump remain the favorites of this round.
In Milan, the Ftse Mib gains 0.86% and reaches 23,694.17 points. The spread between German BTPs and Bunds is still decreasing, at around 211 basis points. Cnh shines on the main list of Piazza Affari (+ 5.74%). The financial results for the first nine months of the year show a strong improvement in revenues and profitability. Amplifon (+ 3.90%), Interpump (+ 3.18%), Moncler (+ 2.07%), Snam (+ 1.82%) and Stm (+ 4.36%) also did well.
At the bottom of the list, however, Bper, which loses 7.68% after the title had been the protagonist of a real race in the last month. The bank communicated the financial results for the first nine months of the year, with a general improvement in the main items of the income statement. Management has indicated that the bank’s profitability will continue to be supported by growing revenues, with the bank benefiting from the rise in interest rates and the good resilience of net commissions. The result, higher than expected, does not avoid the thud. Probably the stock was subject to profit taking after the ride of the last month, during which it gained about 30%, exceeding the threshold of two euros per share.
The same could be true for Tim, who loses 2.18%. Also bad was Leonardo (-4.16%), Banco Bpm (-2.63%), Fineco (-1.92%) and Tenaris (-2.02%). (in collaboration with Money.it)