The market remains basically waiting to see what impact the U.S. inflation data will have on the course of Fed-led monetary policy.
From Wall Street come negative signals on the futures front that portend a down start for stock indexes.
Also driving the market today are specific cues related to the flow of corporate results.
Around 12:45 p.m., the FTSE Mib index is down 0.34 percent. Volumes of 790 million euros.
Among the headlines:
Among banks, Bper's jump deflates after above-expected results. Banco Bpm (-2.6%) also retracts on realizations after yesterday's run, again on the quarterly report. Banca Mps also remains weak today, while Popolare Sondrio (-4.2%) and Credem (-2.3%) are down sharply despite results above market expectations.
Rounding out the sector picture is the smaller decline of big Intesa SP and Unicredit below 1%.
After yesterday's -5.7 percent thud, Finecobank also remains weak today down 0.6 percent in the wake of its quarterly report and revised 2023 estimates on net interest income. Intesa Sanpaolo analysts point out that "the main driver of the stock's decline is the revision of Nii guidance."
Cues on Tim ordinary and savings up more than 3 percent with the stock still reeling from press rumors on the network issue. Quarterly results are expected today. Banca Akros expects a first quarter "positive year-over-year thanks to Brazil. However with domestic Ebitda still down and debt up on a sequential basis, market focus remains on the network saga."
Well Diasorin jumps 1.3% on the heels of quarterly results that saw revenues in line with expectations.
Also collected Pirelli at +1.1% ahead of accounts tomorrow after the stock market closes. Brembo up 3.9%.
Finally, down sharply Unieuro, which retreats 8% after FY 2022-23 results. Banca Akros rates the results "broadly in line with higher net income thanks to lower nonrecurring costs. Dividend also in line at 49 cents, Akros estimated 50 cents."
(Giancarlo Navach, editing Andrea Mandalà)
