Borsa Italiana, today’s comment (May 27, 2020)


Banking sector securities to be monitored: focus on IntesaSanpaolo and UBI Banca. NEXI could register important changes at the start of the day  </p><div>

            <! - <EdIndex> -><p><img style="float: left;" src="" alt="analysis-technical-markets" width="200" />Expected a <strong>start of the day with fractional increases </strong>for the major indices of Borsa Italiana and for the main European financial markets after the strong increases recorded in the last sessions. IntesaSanpaolo analysts recalled that the official proposal of the European Commission on tools for post-COVID-19 recovery is awaited, including the Recovery Fund envisaged by the European Council.

The three-day auction of Italian government bonds continues: in the morning the Treasury will place two BOTs.

Banking sector securities to be monitored.

Focus on Intesa Sanpaolo is UBI Banca. The board of directors of UBI Banca has approved the initiation of an action aimed at ascertaining that, due to the fulfillment of the MAC condition (material adverse change) of effectiveness of the public exchange offer promoted by IntesaSanpaolo, the effects have ceased of the communication made by the institute led by Carlo Messina, including the termination of the “passivity rule” for UBI Banca.

In the spotlight Fiat Chrysler Automobiles. Il Sole24Ore wrote that IntesaSanpaolo has given the green light to the disbursement of the 6.3 billion euro loan to the subsidiary FCA Italy to face the impact of the Covid19 emergency. According to the newspaper, the next steps should be two: the approval of the public guarantee up to 80% by Sace and the acceptance by FCA Italy of the conditions set by the government.

nexi there may be significant changes at the start of the day. According to what is written in Il Sole24Ore, the controlling shareholder Mercury UK Holdco has communicated its intention to sell a maximum amount of 55 million shares of the payment company listed on the FTSEMib, equal to 8.8% of the share capital. The operation would take place through an accelerated bookbuilding reserved for institutional investors. According to the Consob website, Mercury UK Holdco is currently credited with 60.15% of the capital of NEXI.

To be monitored Prysmian. The company was awarded a contract by ARIADNE INTERCONNECTION (a company wholly owned by IPTO, the operator of the electricity transmission system in Greece) for the underwater interconnections between the island of Crete and the Greek hinterland (Attica region). The total value of the order, divided into two lots, amounts to approximately 270 million euros.

Positive trend for the main US equity indices in what for Wall Street was the first session of the week after Monday’s holiday break. The Dow Jones posted 2.17% progress to 24,995 points, while the S & P500 posted a 1.23% rise to 2,992 points. The recovery of the Nasdaq was more limited (+ 0.17% at 9,340 points).

Positive closing for the Tokyo Stock Exchange. The Nikkei index posted 0.7% progress to 21,419 points.

L’EUR it remains above $ 1,095, while the bitcoin it remains under $ 9,000 (just over $ 8,000).

The Btp-Bund spread starts from 201 points.

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