The indiscretions, renewing fears already expressed by the market about the new Trump administration's economic and fiscal policies, caused both stock market indexes and bonds to fall, weighing, as far as the Milanese stock in particular is concerned, on the initial cautious enthusiasm linked to new news on banking M&A.
Around 1:35 p.m. the Ftse Mib lost 0.14 percent after a morning rise of up to 0.9 percent. Volumes of 1.5 billion euros in countervalue
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Leading the main index in Piazza Affari Leonardo jumps 5% to the highest since September 2000 amid a positive backdrop for the entire European defense sector buoyed by U.S. President-elect Donald Trump's call to raise military spending on NATO countries' GDP from 2% to 5%.
Banking remained tonic led by Unicredit at +1.4 percent and Intesa Sanpaolo at +1 percent. Confirming the financial sector's dynamism on the M&A front is this morning's news of the €298 million Opas launched by Banca Ifis on illimity Bank.
The stock of the Corrado Passera-founded institution gained 10.7 percent to 3.75 euros, above the consideration offered by Ifis, which was - between shares and cash - 3.55 euros. After initial weakness Ifis regains ground and rises 1.2 percent with analysts rating positively the deal that would create the leading domestic operator specializing in SME lending.
Staying in the financial sector Dovalue rises 8.4 percent thanks to the 'Buy' recommendation with which Kepler Cheuvreux restarted coverage on the stock with a target price of 2.3 euros.
At the bottom of the Ftse Mib weak tech and industrials. Stm loses 2.7%, Interpump 1.7%, Stellantis 2.7%.
(Andrea Mandalà, editing Claudia Cristoferi)