These meetings also reached Paris where the Italian Large & Mid Caps Conference was held, with the participation of 17 Italian Blue Chips and 77 international institutional investors. The meetings between the companies and overseas investors will continue on June 23rd in London with the Italian Mid Caps Conference, arranged in association with Merrill Lynch. Next will be the STAR Conference 2006 London (sixth edition), on September 27th and 28th, while scheduled to take place on October 3rd and 4th is the Italian Investor Conference Tokyo, organised in conjunction with Nomura. The events were extremely well attended.
This attention on the part of international operators is also due to the fact that the Italian market is decidedly attractive. In fact, a report recently published by Standard & Poor’s shows that the S&P/MIB – as regards the 17 European equity markets – is the index that offers the highest dividend yield which, at 3.65%, is more than half a point above the S&P Europe 350 European average (3.04%). Ranking consecutively behind Piazza Affari are the United Kingdom (3.51%), Spain (3.37%) and Portugal (3.35%). This success is neither random nor short-lived, but rather in keeping with a growth trend that began at least two years ago.
Moreover, according to a European Commission survey, Borsa Italiana has the lowest trading, clearing and settlement charges in Europe.
This edition of MARKETin introduces for the first time the regular feature “Focus on”, which is based on the section of Borsa Italiana’s website by the same name. This month’s close examination looks at petroleum, the most traded natural resource on the world’s financial markets. Considered in detail are the different types of contract, the markets where they are traded and the various qualities of black gold concerned with financial derivatives.
The “News from the Web” concerns the launch of the new glossary containing 1200 terms on the website www.borsaitaliana.it, while the “In Brief” section reports to the approval of the 2005 financial statements. The figures for the Borsa Italiana Group show a net profit of € 52.2 million (+ 44% compared to € 36.2 million in 2004) and revenues of € 228.3 million, with a growth of 17% (2004: € 195.2 million). The scope of consolidation has changed as a result of the acquisition of the MTS Group, which took place during the second half of November 2005; the consolidated income statement includes data only for the month of December.
MARKETin dedicates a page to the list of new admissions of securities and ETFs, and the new intermediaries authorised to operate on the Borsa Italiana markets.
Completing the edition is a series of summary data in the form of tables and charts, together with some “in brief” reports, the most significant of which concerns the launch of Borsa Italiana SpA’s flotation process.
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