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Italian Stock Exchange: Review of the Day (February 28, 2019)



After the excellent actions recorded yesterday, the bankers are swinging. Saipem records the best performance of the day at FTSEMib. Dodge of Geox

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Fractional variations to Piazza Affari and to the main European stock exchanges. Giuseppe Sersale, a strategist at Anthilia Capital Partners Sgr, reported the results of an analysis by Sentimentrader.com, which showed that, compared to a few months ago, implied volatility (a measure of market expectations about the future scope of an asset's movements ) fell a lot, not only in stock but in many of the main assets (S & P 500, Treasury, forex, oil and gold). "Sentimentrader notes that normally this situation of serenity on all fronts of investors is not a prelude to explosions of stock volatility, although in the past there have been episodes that produced corrections," said the strategist.

Market-azionario_1At 1055 hours FTSEMib It was in the course of 0.23% to 20,546 points, while the FTSE Italia All Share won 0.26%. Better performance for the FTSE Italy Mid Cap (+ 0.61%) and o Star FTSE Italy (+ 0.37%).

L & # 39;Euro is in just under $ 1.14.

o propagation Between BTP and the Bund with a period of ten years, it ranges from 260 to 265 points.

Search the quotations of the values ​​SOLMib40

No swing bank, after the excellent performances recorded yesterday.

In split progress BPER Banking (+ 0.14% up to € 3,622). The board of directors of BPER Banca approved the new business plan for the period of three years 2019/2021. The business plan will focus on three main directions: growth and business development with a special focus on sectors with significant commission content (Bancassurance, Wealth Management and Global Advisory Companies) and with high margins (consumer credit); strong increase in operational efficiency and simplification; Acceleration of risk risk and capital strengthening. With the new business plan, BPER Banca aims to increase prospective profitability, with a net profit of 450 million euros in 2021 (+ 7.1% annual average growth rate compared to 366 million registered in 2018) and a RoTE equal to about 10%. The plan also provides for capital strengthening with a CET1 quota of 20.5% in 2021, totally out of date, at 11.4% at the end of 2018. BPER Banca also provided some indications on the dividend policy: in the three year period If it is being reviewed, the average payment dividend will be approximately 25%.

Saipem records the best performance of the day at FTSEMib (+ 5.14% to € 4,581). The engineering company closed last year with revenues of 8.53 million euros, 5.3% less than almost € 9 billion in 2017. The adjusted EBIT amounted to 1,000 million euros, 3.9% in front to 964 million euros in 2017. The final result was a fall of 472 million euros, compared to the loss of 328 million euros in 2018; To weigh in the last line of the statement of income, the devaluations and reorganization charges amounted to just under half a billion euros. The net financial debt at the end of 2018 amounted to 1.16 million euros. Management estimates for 2018 indicated revenues of around 8,000 million euros, an adjusted operating margin of more than 800 million euros (with margins exceeding 10%) and net debt of 1,300 million euros. Saipem also provided the financial objectives for the current year. The administration expects to close 2019 with revenues of around 9 million euros and a margin of more than 10%. The net debt should amount to about one billion euros.

Geox immediately recorded a jump of 16.2% to 1,781 euros, after a stop due to the excess increase at the beginning of the day. The company closed 2018 with consolidated revenues of 827.2 million euros, 6.5% less (5.5% at constant exchange rates) compared to 884.5 million euros in 2017. The net result of the year showed a red of 5.3 million euros, of the benefit of 15.4 million euros of the previous year. On the contrary, the adjusted version of the net result showed a profit of 2 million, from 22.8 million in 2017. The administration of Geox proposed the distribution of a 2019 dividend (related to financial year 2018) of 0.025 euros per share, compared to € 0, 06 assigned last year. They did not expect the directions of the investment banks. Kepler Cheuvreux analysts raised the target price in Geox from € 1.3 to € 1.8, indicating that data from the last quarter was better than expected; The experts also improved the sentence and now recommends the purchase of the actions. Mediobanca was limited to increase the target price of the company from 1.3 euros to 1.44 euros, confirming the "Neutral" rating.

Sitting in the name of uncertainty for Fincantieri after the tie recorded in the last days. The purse in red and loses 1.11% to 1,246 euros.

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