The indices moved little at the start of the session in Piazza Affari, which attempted a recovery after three consecutive days of decline, however, slowed down by the sharp fall in Tokyo this morning and on Wall Street yesterday.
The market should be little active today due to the All Saints' Day holidays.
In the absence of quarterly results, investors' attention is focused on the new wave of macroeconomic data on the agenda in the United States: the focus will be on employment data for the month of October, the last before the American vote. Job growth is expected to slow significantly due to hurricanes and aerospace strikes, but a stable unemployment rate should provide reassurance that the market is strong.
Around 9:35 a.m., the Ftse Mib increased by 0.33%.
Stellantis continues to recover at +0.7% after the publication of its third quarter results, whose turnover is down 27% to 33 billion euros, but the stock market situation has improved. According to broker Intermonte, which cites yesterday's management call, “the balance sheet is considered strong by the new CFO and, despite the expected cash burn, can support shareholder remuneration policies.
Fincantieri also recovered well today, rising 2.8% for its fourth consecutive session of gains. The stock reached its highest level since the end of July. The quarterly report is due on November 14.
Banks performed well, with the big Intesa Sanpaolo and Unicredit up around +1%, as did Mps.
Utilities remained weak or barely moved, hurt by rising government bond yields. Snam was in pole position, while Terna and Enel were up around +0.4%.
The rise in the price of Brent favored stocks in the sector, with Saipem increasing by 1.3% and Eni by 0.8%.
Stm fell sharply (-2.3%) after the results and was the victim of price target reductions by brokers Deutsche Bank and Jefferies, respectively to €32 from €42 and €25 from €29.
Finally, outside the main basket, Juventus rebounded by 1.7% after the -5.5% recorded yesterday, while Lazio was volatile after their victory against Como yesterday and landing in the League of Nations zone. Champions.
(Giancarlo Navach, editor Gianluca Semeraro)
