Ftse Mib, the best and worst of March: Saipem runs, Tim collapses

The curtain falls on the stock markets on the month of March and also on the first quarter of 2024. The price lists are thus preparing for the long Easter weekend, with the resumption of trading scheduled for Tuesday 2 April.

The month of March was a new month of increases for European stock markets and Wall Street. The Ftse Mib index ended the month in the area of ​​34,750 points, at the highest level since 2007. In the last month the main Milan price list recorded an increase of approximately 6.6%, showing one of the highest growth rates in the Old continent (only Ibex did better with increases of over 10.7%).

At the corporate level, March was marked by the presentation of financial results but also of numerous industrial plans by some big names in the Ftse Mibas Iveco, Telecom Italia, Leonardo (just to name a few).

But let’s see which were the best and worst stocks in March in the main basket of the Italian Stock Exchange.

The best Ftse Mib stocks of March

The Ftse Mib best of the month shirt of March is worn by Saipem which records a +52.5%. The increases in the shares of the group active in the oil services sector were driven by the announcements at the end of February, when the 2023 numbers, the 2024 guidance and the update of the 2024-2027 strategic plan were presented which promises a return to the dividend set in 2025 and an order collection of 18 billion euros. On the occasion of the 2023 accounts, Barclays analysts underlined that “Saipem recorded very strong numbers and positive guidance”, with the “numbers for the fourth quarter alone beating our estimates and those of the Bloomberg consensus by more than 20%” .

Today, Barclays confirmed the overweight rating on the company led by Puliti and revised the target price upwards, which rose from 2.50 to 2.90 euros.

Leonardo is in second position which closed March with an increase of 18.5%.

Iveco is in third place which closed the month of March with a positive balance of 18.1%. Supporting the stock, which is also one of the best in the Ftse Mib since the beginning of 2024, are the indications on the new plan illustrated during the Capital Market Day in mid-March. In terms of financial targets, Iveco aims to achieve net revenues for industrial activities of around 19 billion euros at the end of the plan (therefore 2028), with an adjusted Ebit margin between 7 and 8%, investments of around 6 /7% and a free cash flow of approximately 0.9 billion.

Off the Bper podium, recording +18.1% in March. At the end of the month, the Emilian bank received the evaluation of S&P Global Ratings which assigned the BBB-/A-3 rating, with a positive outlook. According to the experts of the American rating agency, Bper’s consolidated presence in Italy, the improved quality of its assets and the good profitability prospects will support the bank’s creditworthiness. Another issue at Bper is that of the renewal of the board of directors in view of April 19, when the shareholders’ meeting is scheduled.

The worst headlines of the month of February on Piazza Affari

The month of March saw the collapse of Telecom Italia on the stock market (-21.2%). Just remember that in a single session, that of March 7, the day of the presentation of the new “Free to run” industrial plan (the first without the network), the shares of the big telecommunications company lost something like almost 24%. Consob turned a spotlight on the performance of the stock (which in general experienced a month of high volatility). Meanwhile, in recent days the market has also focused on the article “Financial Times” by title “Telecom Italia targeted by short sellers with €1bn bet”, according to which Tim would be the victim of short (i.e. bearish) bets worth 1 billion euros.

Also in the rear are Nexi (-14.7%) and Brunello Cucinelli (-6.9%).