Slightly positive opening of the week for European stock exchanges. The focus of investors is on international and European issues: from reflections on the next moves of the European Central Bank, which in early February should increase interest rates by at least 50 basis points, to the war in Ukraine. In fact, the pressure on Germany to send tanks to Kiev continues. In Italy the sixth decree for sending arms to Ukraine is under discussion.
In Milan, the Ftse Mib gains 0.18% and closes at 25,821.45. The spread between BTPs and German Bunds is stable, around 184 basis points. The yield on ten-year bonds is growing, reaching almost 4%. Intesa Sanpaolo performed well on the main stock exchange on Piazza Affari (+2.71%). The institute specified that the fully loaded Common Equity Tier 1 ratio at the end of 2022 is expected to settle at a level of more or less 13%, in line with the 2022-2025 Business Plan. Tim rose by 1.88% after placing an 850 million euro fixed-rate bond offered to institutional investors. The bond matures in February 2028, with a coupon of 6.875%. Leonardo also did very well (+3.46%), signing two contracts with the Italian Space Agency for the development and construction of two high-resolution cameras.
Then, Enel (-3.26%) and Snam (-2.72%) followed, on the coupon detachment day, equal respectively to 0.2 euro and 0.11 euro per share. Eni is also bad (-0.39%). The company said record demand for the 4.3% green bond was worth €10 billion and involved 300,000 investors, marking the record for a single tranche corporate bond issue for retail in Italy. (in collaboration with Money.it)
