
AI-generated summary
The Italian banking sector is at the center of consolidation operations. The BTP-Bund spread is a key indicator of Italian sovereign risk.
The Milan Stock Exchange (+0.91%) closes on the rise, in line with the other European stock markets and in line with Wall Street. On the Piazza Affari, Fincantieri (+6.9%) and Amplifon (+6.8%) jumped. The spread between BTPs and Bunds ended the day falling to 109 points, with the yield on the Italian ten-year bond falling to 4.57 percent.
Banks remain the focus of attention as efforts to consolidate the sector continue. In light of Unicredit (+1.1%) which brought together the board of directors to take stock of the risk in Italy and Europe, and with the press rumors regarding an alleged interest in Banca Generali (+3.4%). Generali also goes up (+1.4%). Slow on MPS's moves (+1.3%), following the positions of the main shareholders on Intesa's takeover bid (+0.9%). In the main list also purchases for Inwit (+4.4%) and Saipem (+3.7%).
STM slips (-3%). Avio (-2.1%) and Tim (-1.3%) also performed poorly.
Hera (-0.2%), Unipol and A2a (-0.1%) were weak.

The Revenue Agency launches a rapid VAT recovery procedure for those who have issued invoices but have not submitted the declaration. Taxpayers have 60 days to clarify or pay, under penalty of registration and forced collection.

Tata Motors has increased its takeover offer on Iveco to 14.40 euros per share, calling it final. The increase of 30 cents, for a total outlay of 3.91 billion, is due to the extended times for the necessary authorizations.

The president of Fincantieri, Biagio Mazzotta, outlines the strategy for greener and digital ships, focusing on hydrogen, maritime nuclear, artificial intelligence and robotics to improve efficiency and safety.

European Commissioner Valdis Dombrovskis declared that the taxation of extra energy profits is up to the Member States. The Commission will establish a working group to encourage the exchange of good practices between EU countries.

China and the European Union have reached an agreement on the trade of hybrid cars compliant with WTO rules, as announced by the Chinese Ministry of Commerce.

Ecofin has reached a political agreement on the supervision of EU markets for capital integration and competitiveness. Italian minister Giancarlo Giorgetti calls it a great political success.