In the wake of the progressive strengthening of the Ftse Mib, securities in the banking sector are also increasing their earnings, with even better performances than that of the reference index in some cases.
Positive banks on the Ftse Mib: only Banco BPM out of place
The only negative exception is that of Banco BPM which goes against the trend with a decrease of 0.56%, while Bper Banca and Mediobanca rise by 0.41% of 0.61%, but the two big companies are able to do even better. sector, Unicredit and Intesa Sanpaolo, with an advantage of 1.12% and 1.46% respectively,
The protagonists of the banking sector benefiting today from the bullish impulse of the Ftse Mib, but also of the signals coming from the bond front.
Banks supported by good Spread and BTP signals
The BTP-Bund Spread is slightly below par, with a fractional drop of 0.1% to 100.4 basis points as purchases support BTPs, so much so that the ten-year yield drops by 1.26% to 0.703%.
To keep the attention on bankers high are also the indications coming from various parts.
Banks: tomorrow meeting on loans granted by public guarantee
According to what was reported by Milano Finanza, tomorrow there will be a meeting in ABI between the main Italian banking entities, focused on the issue of monitoring loans granted through public guarantees (Guarantee Fund and Sace), which according to the latest data amount to 30 June at approximately 208 billion euros.
According to the newspaper, among the instruments under consideration there would be the creation of an ad hoc vehicle, managed by AMCO, in which the banks would merge their share of guaranteed loans, before a possible transition into default and the start of the procedure of enforcement of the public guarantee.
Equita SIM analysts, however, believe such a solution is unlikely, considering the size of the fund managed by AMCO.
This scenario would also imply the renunciation of credit management by individual banks.
Banks: BoE removes restriction on dividends. Now it’s up to the ECB
Meanwhile, yesterday, the Bank of England announced the lifting of restrictions on dividend payments by British banks.
Equita SIM experts see this indication as a further positive sign regarding the elimination of the dividend ban by the ECB after September 30, which is expected to be announced on July 23.
The removal of the dividend upon the distribution of dividends will be followed by assessments on an individual basis of the individual banks, also in relation to the results of the stress test, the results of which will be published on 30 July and the capital generation capacity of the banks themselves.
Intesa Sanpaolo: a winning choice and not just for the dividend
While awaiting the ECB’s verdict on the distribution of dividends, Intesa Sanpaolo remains under the lens.
The title is among those in the sector that will detach further coupons before the end of the year after the one already paid in May.
Barclays analysts, recommending a more selective approach now, indicate Intesa Sanpaolo as the preferred stock in the banking sector, confirming the “overweight” recommendation, with a target price of 2.8 euros, a value that implies an upside potential of more than 22% compared to the current prices on Piazza Affari.
Barclays highlights that Intesa Sanpaolo already boasts a tangible return on equity capable of outperforming its competitors.
The next business plan should also strengthen profitability even more and in the short and medium term Barclays sees good momentum, given that the bank led by Messina should benefit from the synergies linked to the recent acquisition of Ubi Banca, but also from long-term support. term from the dividend policy.
Trend-online Deputy Director, born in 1978.
After completing his studies at the Classical High School “Antonio Calamo” of Ostuni I entered the world of economics.
For about twenty years I have been dealing with Stock Exchange and Finance. After having worked as a financial promoter for several years, in 2005 I joined the Trend-online team as an editor, to later become deputy director of the cylinder head. Among other countless activities, I take care of maintaining relationships with all the experts, analysts and traders, consulted daily by Trend-online.
My motto is? “Life is like a mirror, if you look at it smiling it will smile at you”.