Following the halt to the negotiations between
Unicredit and the Treasury
, the
MPS stock
manages to enter into negotiations briefly, trading at 0.99 euros per share, against the close of 1.072 on Friday, before being suspended again in Piazza Affari.
The stock now marks a theoretical decline of 8.58% while Unicredit, in the wake of the failed acquisition, drops 2.2% to € 11.27.
Then, after the shocks of the start of the session, the investors try to take measures upon the announcement of the end of the negotiations between Unicredit and the Mef for the sale of Mps. The stock of the Sienese bank, which remains volatile and shows large fluctuations, drops 4.8% to 1.02 euros, after having risen up to -3.9%, while that of Unicredit drops 1.3% to 11 , 38 euros.
The Milan stock exchange (+ 0.3%) continues to rise, after a slow start and in line with other European lists. In Piazza Affari, Mps is still in sharp decline (-4.2%), after the halt of the negotiations between Unicredit (-1.6%) with the Treasury. The spread between BTPs and Bunds drops to 108 basis points while the Italian ten-year yield rises to 1%. Positive trend also for Banco Bpm (+ 3.3%), indicated by analysts as the possible prey of Unicredit after the stop with the Sienese bank. Among the banks, Bper (+ 1.5%), Popolare Sondrio (+ 1.4%) and Intesa (+ 0.6%) are also positive. Carige down (-1.5%). Fly Exor (+ 4%), with press rumors about negotiations for the sale of PartnerRe to the French Covea. Among the insurance companies, Cattolica is down (-1.9%), while Generali is up (+ 0.2%). Contrast utilities with A2a and Enel (-0,5%) while Snam and Italgas (+ 0.6%), Hera (+ 0.1%) are positive.
Brilliant start, however, in Piazza Affari for Banco Bpm, which several analysts see potentially returning prey to Unicredit after the failure of the marriage with Mps.
The stock advanced by 3.5% to 3.05 euros.
"Italian targets of M & A alternatives for Unicredit could be Banco Bpm and Mediobanca", writes Kepler Cheuvreux, with Morgan Stanley also looking at the institute led by Giuseppe Castagna: "the prospect of a combination with Banco Bpm re-emerges, offering similar, if not more great benefits ".