Tim shares in the spotlight after the Kkr-WWN offer

Piazza Affari rises the day after the Fed and on the day when it will be up to the ECB to announce its decision on monetary policy.

The titles

Tim stands out in Piazza Affari where it rises by 9.20% to 0.2862 euros per share, the highest since last May. To push the title the presentation of the non-binding offer of Kkr for Netco, Tim’s company which contains the fixed network, the activities of FiberCop and the “jewel” Sparkle. The US fund had always been known by the general public in relation to Italy’s main telephone company, or when in 2021 it presented ‘interest to take over the whole Tim. According to leaks, KKR’s offer, subject to the approval of the Italian government, would value the network of the country’s main telephone company at over 20 billion euros.
Stm (+2.9%) and Nexi (+1.8%) run the main list. Utilities are also doing well, with gas prices falling. Italgas (+1.3%), Enel (+1.1%) and Erg (+0.5%) rose. Tonica Stellantis (+1.8%), after the January registration data. Unicredit stands out among the banks (+1.7%). Banco Bpm (+0.6%), Intesa (+0.5%) and Bper (+0.2%) were also positive. Mps flat (+0.01%). Energy is down with Tenaris (-1.2%), Eni (-0.4%) and Saipem (-0.2%). (here the price list updated in real time).

The spread

The spread between the BTP and the Bund drops to 196 points, with the Italian 10-year rate at 4.21% (-7 points) (here the spread in real time).

European markets

The European stock markets continue the session with a sharp rise after the Fed meeting and the indications on the slowdown in inflation. The attention of investors now shifts to the moves that the ECB and the Bank of England will put in place, which will meet in the afternoon. On the currency front, the euro continues at 1.0996 against the dollar. Gold is running at 1,954 dollars an ounce (+1.4%). The Stoxx 600 area index gains 0.9%. Well Paris (+1.1%), Frankfurt (+1.6%), Madrid (+1.2%) and London (+0.5%). The main European lists are supported by information technology (+3.5%). Cars also performed well (+2.1%), after the January registration data. Tlc (+1.7%) and insurance (+0.3%) are advancing, while banks are weak (-0.1%). Purchases for utilities (+0.2%), with gas down. In Amsterdam the price drops to 59.1 euros per megawatt hour (-0.7%). Energy also performed well (+0.1%), with the price of oil on the rise. The WTI rises to 76.6 dollars a barrel (+0.3%). Brent stands at 82.9 dollars (+0.1%). In view of central banks, government bond yields are falling. The yields of peripheral countries also fell with Spain at 3.22% (-4 points) and that of Greece at 4.23% (-4 points).

Asian Stock Exchanges

The Asian stock exchanges closed in no particular order after the decisions of the Fed and the indications on the slowdown in inflation. Spotlights also focused on the meeting of the ECB and the Bank of England which will have to decide on rates as a tool to slow down the race in prices. Tokyo closed slightly up (+0.20%). On the currency front, expectations of a slowdown in the monetary tightening by the Fed once again give impetus to the yen, which has once again strengthened against the dollar, to 128.70, and against the euro, to 141.70. While trading is still ongoing, Hong Kong, Shanghai and Shenzhen are flat (+0.05%), Seoul is up (+0.8%), Mumbai is little changed (+0.03%). On the macroeconomic front, the meeting of the ECB and the BoE is awaited. The trade balance is expected from Germany. Data on the labor market and industrial orders are arriving from the USA.