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Stock Exchange: Milan heavy with banks, Saipem and Tim, Eni runs

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Gas hikes weigh, aid checks in September (ANSA)

(ANSA) – MILAN, AUGUST 22 – Session of strong sales for Piazza Affari, which suffered, like the other European stock exchanges, the fears of a recession in the Old Continent triggered by the rush of energy prices. The Ftse Mib lost 1.64%, weighed down by the sharp drops of Saipem (-6%), Moncler (-4.6%) and Tim (-4.2%), which fell close to its historical lows. purchase of shares for one million euros by its CEO, Pietro Labriola.

All banks are bad, with MPS in the lead (-6%) called to face a difficult recapitalization. Declines of over 3% for Banco Bpm, Bper, Unicredit and Intesa. The automotive sector is also bad with Stellantis (-4.1%), Iveco (-3.7%) and Pirelli (-3.5%). In contrast to some pharmaceuticals (Recordati + 1.6% and Diasorin + 0.9%), the utilities Snam (+ 1.3%), Italgas (+ 1%) and Terna (+ 1.1%) and, finally, the ‘Eni (+ 1.6%), awarded for the discovery of a large gas field off the coast of Cyprus. (HANDLE).

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Source: Ansa

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