Piazza Affari accelerates, Ftse Mib +0.5%. Focus on Intesa-Mps and Trevi
Quick Look
- Piazza Affari rising with the Ftse Mib at +0.5%.
- The BTP-Bund spread drops below 113 points.
- The spotlight is on Intesa Sanpaolo's takeover bid for MPS, which penalizes Mediobanca, and on Trevi's leap after Webuild's entry into the capital.
AI-generated summary
Why It Matters
The shareholders' meetings of Mediobanca and MPS are scheduled for 29 October to discuss the merger project.
Piazza Affari accelerates after 5 hours of trading, with the Ftse Mib index growing by 0.5% to 50,737 points. The spread between German BTPs and Bunds falls below 113 points, with the Italian annual yield falling by 1.7 points to 4.59%, the German one by 0.2 points to 3.46% and the French one by 2.7 points to 4.84%.
The 0.25 euro relaunch of Intesa Sanpaolo's takeover bid (+1.25%) on Mps (+0.65%) weighs on Mediobanca (-4.38%), which sees the merger project with Rocca Salimbeni on which the shareholders must express themselves in their respective meetings on October 29th disappear. Unicredit rises (0.37%) while Unipol (+4.34%) and Bper (+2.55%) run. Contrast Generali (+0.3%) and Banca Generali (-0.48%).
In the rest of the list there are Avio (+3.15%), Amplifon (+3..1%) and Stellantis (+1.65%) followed by Campari (+1.35%).
A minus for Prysmian (-1.45%), Snam (-1%), Tim (-0.9%) and Italgas (-0.5%), while Eni did well (+1%).
Sprint of Trevi (+5.81%) after Webuild (+0.2%) rose to 18.9% of the capital, paying for the shares at 5.165 euros and extending the premium on the public purchase offer to all members.
What to Watch
AI outlook — possibilities, not facts
Mediobanca and MPS shareholders' meetings on 29 October.
Very likely · Within weeks
Open Questions
- How will the shareholders of Mediobanca and MPS react to the meeting on 29 October?
