The coupons penalize the Ftse MIb, Telecom Italia takes off

Thanks to an improvement during the second part, driven in part by the positive start of trading on Wall Street, the Ftse Mib in Milan closed with an increase of 0.17% to 27,382.87 points. At the halfway point from Washington came the news that US President Joe Biden has confirmed Jay Powell as head of the Federal Reserve for another 4 years.

Even if the alternative, represented by Lael Brainard (who will hold the role of vice president), was still a guarantee of support for the markets, Powell’s confirmation represents a positive factor because it eliminates that dose of uncertainty that, especially in recent times, has not financial markets like it.

In Piazza Affari the news of the day is represented by KKR’s expression of interest in 100% of Telecom Italia (+ 30.25% to 0.4513 euros). The expression of interest, subject to the condition that the minimum membership threshold of 51% of the capital is reached, was qualified by KKR as “friendly”. The price indicated is 0.505 per share (+ 45.7% on Friday’s close).

From Vivendi’s headquarters they have already made it known that the offer “does not reflect real value” and therefore can be classified as “insufficient”. The news ended up pushing Inwit too (+ 4.61%), in which TIM has a stake.

The coupon detachment by some big names like Banca Generali (+ 1.32%), Intesa Sanpaolo (+ 0.65%), Mediobanca (+ 2.63%), Poste Italiane ( -0.21%), Terna (-0.06%) and Tenaris (+ 2.24%). Among the energy sectors, Saipem closed with + 2.95%, which was awarded a new contract in Brazil worth 940 million dollars.

At the end of the first session of the week, the BTP-Bund spread stopped at 118 basis points (-0.58%). (in collaboration with