The close of today’s session will give important indications for the markets – Photo from pexels.com
While the Bitcoin dollar seems to have reached a support level from which to start again to form new annual highs, the stock markets, after the decline that began in April, continue to show a certain indecision. In our opinion, the closing of today’s session will provide important indications for international markets. Which path will be taken? In the next paragraphs we will indicate some technical levels that could help keep an eye on the situation.
Data and news on Intesa Sanpaolo
The first quarter of 2024 for Intesa Sanpaolo saw a net profit of 2.3 billion euros, up 17.6% compared to the same period of the previous year, exceeding market expectations. Net operating income grew by 11.1%, reaching 6.7 billion euros, with net interest increasing by 20.8% and net commissions increasing by 6.3%. The capital solidity is confirmed with a CET 1 coefficient of 13.3% and the start of a 1.7 billion buyback in June. Intesa also confirms the cash payout at 70% of consolidated net profit, with an increase in the dividend per share for 2024 and 2025. The implementation of the 2022-2025 business plan is proceeding at full speed, with a net profit perspective above 8 billion for 2024 and 2025. Furthermore, 2.8 billion euros in dividends will be distributed in May. Despite a negative reaction from the stock market after the publication of the accounts, the banking institution recorded a rebound in the following days. Revisions to the target price by analysts, including JPMorgan and UBS, contributed to the rise in the share price, with the average target price set at 3.85 euros.
From a chart point of view, the upward hold of 3.4370 could lead prices to form new highs compared to those marked in the 3.597 area in recent days
The closing of today’s session will provide important indications for the markets: forecasts for the next few days
The trading day of May 6 closed at the following prices:
Dax Future
18,320
Eurostoxx Futures
4,937
Ftse Mib Future
33,726
S&P500
5,180.74.
These are decisive days to understand whether or not the bearish phase that began in April will continue, or now we will rise until the next annual setups of May 23rd and June 27th. At the moment, from a graphic point of view, new increases with weekly closes above the following levels:
Dax Future
18,429
Eurostoxx Futures
4,992
Ftse Mib Future
34,595
S&P500
5,180.
We highlight the growing relative strength of Stellantis and Stmicroelectronics and of ENEL and Illimity. Furthermore, Piaggio shares (the Board of Directors will be held on May 9th) from a graphic point of view would appear to be close to a bullish phase after the declines of recent weeks.
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