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The Italian banking sector recorded a day of strong growth on Piazza Affari, driven by merger operations and positive financial results.
Closing that confirms the rally of the day for Banco Bpm on the Milan stock exchange: the stock closed up 10.6% at 14.88 euros after the friendly merger proposal by Credit Agricole. The French group was flat on the Paris list, moving calmly around 15.8 euros.
Unicredit is also very strong (+6.2% final to 81.62 euros) with record results for the first nine months.
In the banking sector, which drove the Piazza Affari session, Intesa grew by 2.8% after Consob's green light for the offer document on MPS, which for its part closed up by 2.1% at 11.5.

The Council of Ministers approved the Bill Decree with a price cap of 58.9 euros per megawatt hour on gas for electricity production for up to 18 months. Minister Pichetto estimates a reduction of around 15 euros per megawatt hour on the price of electricity, currently at 313 euros. Confcommercio predicts savings of up to 10% for businesses, while the Ecco think tank calculates just 1.4 euros per month for an average user.

Credit Agricole aims to tie the knot with Banco BPM after the failure of Unicredit's takeover and the failure of the merger with MPS. The operation represents the last step in a feverish two-year period of reorganization of the Italian banking system, which began with Unicredit's offer on Banco Bpm in November 2024 and continued with Mps' takeover bid for Mediobanca and Intesa Sanpaolo's takeover bid for Mps. The French will have to overcome the Golden Power and the approval of the merger with the whitewash mechanism to avoid a costly takeover bid.

Jindal and Arvedi presented offers for the former Ilva to the extraordinary commissioners. Arvedi, who left the Federacciai consortium, proposes two Esp electric ovens subject to the yes of the institutions and population of Taranto. Unions ask for an urgent meeting with the government.

Credit Agricole proposes a friendly merger with Banco Bpm without a mandatory takeover bid, with a 20% premium, an extraordinary dividend of 1 billion and synergies of 800 million per year. Banco Bpm stock closes up 10%. The operation would create the third Italian banking group.

European stock markets close on a positive note driven by Wall Street and the drop in oil prices. Milan leads with the Ftse Mib at +2.6% thanks to banking stocks. Btp-Bund spread at 103.7 basis points, euro above 1.12 dollars.

CNH Industrial has reached an agreement to sell 70% of its Construction Equipment division to Kobelco Construction Machinery. The operation, valued at 1 billion dollars, will allow CNH to focus on the agricultural sector and reduce debt.