Italian Stock Market Fluctuates Amid ECB Anticipation and Sector-Specific Movements

Mib closes higher, Iveco and Stellantis good

(Alliance News) - Piazza Affari closed higher in Thursday's trading session after the European Central Bank left rates unchanged but opened the door to possible cuts in September. The interest rate on main refinancing operations and interest rates on marginal lending and deposits with the central bank will therefore remain unchanged at 4.25 percent, 4.50 percent and 3.75 percent, respectively. The information received largely supports the Governing Council's previous assessment of the medium-term inflation outlook, the central bank's board explained in a statement. The FTSE Mib closed Thursday up 0.4 percent to 34,529.13, the Mid-Cap was up 0.5 percent to 48,738.17, the Small-Cap was up 0.2 percent to 29,433.27, and Italy Growth gave up 0.3 percent to 8,100.04. In Europe, London's FTSE 100 closed up 0.4 percent, Paris' CAC 40 was up 0.6 percent and Frankfurt's DAX 40 gave up 0.1 percent. On the Mib, good session for Eni, which is up 1.1% to EUR14.29 per share. Of note, the company and Kazakhstan's state-owned KazMunayGas - KMG announced Tuesday the start of construction of a 250 MW renewable sources and gas hybrid power plant in Zhanaozen, in Kazakhstan's Mangystau region. Strength also on Iveco, which rises 5.8 percent to EUR11.9250 per share, rearing its head after two bearish sessions and positioning itself at the top of the blue chip list. Stellantis sales -- up 1.9% -- in June rose slightly in Europe, underperforming the European market, where registrations grew 4.3% year-on-year to nearly 1.1 million units. As shown Thursday by data from ACEA, the European Automobile Manufacturers' Association, the merged PSA Groupe and Fiat Chrysler Automobiles giant posted a 0.4 percent increase over June 2023, but market share fell to 17.3 percent in June from 18.0 percent a year earlier. Banco BPM -- up 0.6 percent -- announced Wednesday the final results of the offer to repurchase its EUR400.0 million perpetual bond. At the maturity of the offer, the total nominal amount of existing securities was EUR179.5 million, and Banco BPM carried out the repurchase at the same time as issuing a new EUR400.0 million Additional Tier 1 fixed-rate reset perpetual bond denominated in euros. Nexi rises 0.1 percent to EUR5.88 per share. Deutsche Bank raised its target price to EUR6.50 from EUR5.80, with a "hold" recommendation. BPER Banca rises 0.5 percent after reporting that the board of directors has appointed Simone Marcucci as the bank's chief financial officer, effective July 19. Marcucci takes over from Gian Luca Santi, current chief financial officer and deputy general manager. Intesa Sanpaolo rises 0.5 percent and Acea registers a 1.8 percent rise after signing the first national agreement for the safeguarding and sustainable management of water in companies' production processes, also in relation to the measures of the National Recovery and Resilience Plan, which provides for the allocation of about EUR4.4 billion to protect the water resource. In contrast, Prysmian, among the few bearers, gives up 1.6 percent to EUR60.70 per share. Of note, Beremberg raised its target price on the stock to EUR75.00 from EUR63.00 per share. On the Mid-Cap, strength on Webuild, which moves up 6.5 percent to EUR2.30 per share, after eve's 1.5 percent decline. For Fincantieri, on the other hand, the rise is 4.3 percent, in its third bullish session in a row, bringing the increase since the beginning of the year to over 21 percent. Fincantieri and Hera -- up 1.6 percent on the Mib -- announced Thursday that they have signed a memorandum of understanding to launch a partnership aimed at optimizing waste cycle management and creating value at Fincantieri's shipyards throughout the country, in accordance with circular economy principles and objectives. The agreement provides for the establishment of a newco - owned by Fincantieri and the Hera Group, through its subsidiaries Herambiente Servizi Industriali and ACR di Reggiani Albertino, part of the Herambiente Group - in charge of implementing an integrated and efficient waste management system at Fincantieri's shipyards, starting with the Monfalcone site, identified as the first area of intervention for the implementation of the project. In addition, the new company will be responsible for the operational management of the plant, the management of disposals and the valorization of residues and recoverable waste. At the back end, Moltiply Group lost 2.1 percent to EUR36.60 but almost in line with its 30-day VWAP at EUR35.85. On the Small-Cap, Giglio Group--up 23%--on Wednesday announced the launch of OMNIA. The new advanced technology platform, based on artificial intelligence, represents the innovative merger and evolution of Giglio Group's two proprietary platforms Flex and Nimbus, and offers an integrated end-to-end approach to managing both the physical and online purchasing process, from the initial order stage to final delivery. Good buys also on Fiera Milano, up 1.7 percent, in its third consecutive bullish session. The stock, since the beginning of 2024, has increased its market cap by nearly 49 percent. On Italy Growth, EdiliziAcrobatica -- up 10 percent -- reported Thursday that the number of contracts signed in the first half of the year grew 40 percent to 16,107 from 11,500 in the same period of 2023. The number of customers also increased by nearly 59 percent from June 30, 2023. Askoll Eva closed up 4.1 percent after two sessions closed in the red. The stock, on the MarketScreener platform, has a target price of EUR0.28, thus being underpriced by about 28 percent. Circle--flat at EUR7.82--reported Thursday that Magellan Circle Italia, a company part of the Circle group and a leader in transport, mobility, logistics, environmental and circular economy consulting, has signed a two-year contract worth about EUR140,000 with a client in the port sector for the technical and financial management of six European projects. Prisms, also unchanged at EUR0.0702, reported-between July 9 and July 15-it received payments on account of future capital increase of more than EUR300,000, including EUR150,000 from Tender Capital and the remainder from other qualified investors. In New York at the moment, the Dow is down 0.3 percent to 41,073.76, the Nasdaq Composite gives up 0.9 percent to 17,832.37, and the S&P 500 loses 0.5 percent to 5,560.91. Among currencies, the euro changes hands at USD1.0912 from USD1.0930 on Wednesday in closing European equities while the pound is worth USD1.2978 against USD1.3007 last night. Among commodities, Brent crude is trading at USD84.62 per barrel from USD84.83 per barrel at Wednesday's close. Gold, on the other hand, trades at USD2,464.02 an ounce from USD2,470.984 an ounce Tuesday night. Friday's macroeconomic calendar opens with the GfK index of British consumer confidence, due at 0101 CEST, followed by Japanese inflation, at 0130 CEST. In the UK, eyes also on retail sales, due out at 0800 CEST, the same time as the release of producer prices in Germany. At 1000 CEST, focus on the Eurozone current account and the Spanish trade balance. Also from Spain, at 1200 CEST, will come consumer confidence. From the U.S., at 1900 CEST, space for Baker Hughes data on mining plants. Among the companies in the Piazza Affari, no particular events are scheduled. By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter Comments and questions to [email protected] Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.

Mib bullish; Webuild and Fincantieri good

(Alliance News) - Milan on Thursday moved bullish in the 34,600 area, in line with the performance of other European markets, ahead of the European Central Bank's decision on interest rates to be announced in the early afternoon. Although the central bank is expected to maintain current interest rates, investors are closely monitoring any indication of possible future rate cuts. Among the smaller listings last night, the Mid-Cap is advancing 0.4 percent to 48,655.43, the Small-Cap is in the green 0.3 percent to 29,484.29, and Italy Growth is just above par at 8,123.17. In Europe, London's FTSE 100 is advancing 0.9 percent, Paris' CAC 40 is up 0.6 percent, and Frankfurt's DAX 40 is picking up 0.3 percent. On the Mib, good session for Eni, which moves ahead 1.5% to EUR14.34 per share. Of note, the company and Kazakhstan's state-owned KazMunayGas - KMG announced Tuesday the start of construction of a 250 MW renewable sources and gas hybrid power plant at Zhanaozen in Kazakhstan's Mangystau region. Strength also on Iveco, which advances 1.2% to EUR11.40 per share, rearing its head again after two bearish sessions and positioning itself at the top of the bluechip list. Stellantis sales -- up 2.6% -- in June rose slightly in Europe, underperforming the European market, where registrations grew 4.3% year-on-year to nearly 1.1 million units. As data from ACEA, the European Automobile Manufacturers' Association, showed Thursday, the merged giant of PSA Groupe and Fiat Chrysler Automobiles posted a 0.4 percent increase over June 2023, but market share fell to 17.3 percent in June from 18.0 percent a year earlier. Banco BPM -- in surplus by 0.4 percent -- announced Wednesday the final results of the offer to repurchase its EUR400.0 million perpetual bond. When the offer expired, the total nominal amount of existing securities was EUR179.5 million, and Banco BPM made the repurchase at the same time as issuing a new EUR400.0 million Additional Tier 1 fixed-rate reset perpetual bond denominated in euros. Nexi, meanwhile, advances 1.2 percent to EUR5.89 per share. Dutsche Bank raised its target price to EUR6.50 from EUR5.80, with a "hold" recommendation. Leonardo, on the other hand, moves in the green by 0.4 percent with price at EUR22.90 per share. Worth mentioning that on the stock Goldman Sachs raised the target price to EUR23.50 from EUR23.80 previously. On the other hand, Prysmian, among the few bearish, gives up 1.9 percent to EUR60.50 per share. Of note, on the stock Beremberg raised its target price to EUR75.00 from EUR63.00 per share. On the Mid-Cap, strength on Webuild, which moves up 2.8 percent to EUR2.22 per share, following eve's 1.5 percent decline. For Fincantieri, on the other hand, the rise is 1.4 percent, in its third bullish session, bringing its year-to-date assets over 21 percent. Ascopiave - in the green by 0.2% - reported Wednesday that between July 10 and 16 it bought 36,524 shares at an average price of EUR2.3835 for a total value of EUR87,056.75. As a result of these purchases, Ascopiave holds 17.9 million shares or 7.7 percent of the share capital. At the back of the pack, among the many bearers, Moltiply Group is giving up 1.7 percent to EUR36.75, but almost in line with its 30-day VWAP at EUR35.85. On the Small-Cap, Giglio Group--once again bullish in double digits before going to auction--on Wednesday announced the launch of OMNIA. The new advanced technology platform, based on artificial intelligence, represents the innovative merger and evolution of Giglio Group's two proprietary platforms Flex and Nimbus, and offers an integrated end-to-end approach to managing both the physical and online purchasing process, from the initial order stage to final delivery. Conafi, on the other hand, advances 4.1 percent. The stock-which has been missing the ex-dividend since 2021-bounces after three sessions closed among the bearish. Good buying also on Fiera Milano, which moves up 1.6 percent heading for its third bullish daily candle. The stock has increased its market cap by nearly 49 percent since the start of 2024. Avio, on the other hand, is giving up 1.7 percent after two sessions ended in the green. On Italy Growth, EdiliziAcrobatica -- ahead more than 12 percent -- reported Thursday that the number of contracts signed in the first half of the year grew 40 percent to 16,107 from 11,500 in the same period of 2023. The number of customers also increased by nearly 59 percent from June 30, 2023. Askoll Eva advances 3.7 percent, after two sessions closed in the red at EUR0.227. The stock on the MarketScreener platform expresses a target price of EUR0.28, thus being underpriced by about 28 percent. Circle--flat at EUR7.82--reported Thursday that Magellan Circle Italia, a company part of the Circle group and a leader in transport, mobility, logistics, environmental and circular economy consulting, has signed a two-year contract worth about EUR140,000 with a client in the port sector for the technical and financial management of six European projects. Prisms, also unchanged at EUR0.07, reported-between July 9 and July 15-it received payments on account of future capital increase of more than EUR300,000, including EUR150,000 from Tender Capital and the remainder from other qualified investors. In the U.S. on Wednesday, Wall Street closed lower: the Dow Jones Industrial Average rose 0.6 percent, but the S&P 500 fell 1.4 percent and the Nasdaq Composite fell 2.8 percent. In Asia, the Nikkei gave up 2.4 percent, the Shanghai Composite picked up 0.5 percent, and the Hang Seng picked up 0.2 percent. Among currencies, the euro changed hands to USD1.0927 from USD1.0930 in Wednesday's European stock close while the pound was worth USD1.2987 against USD1.3007 last night. Among commodities, Brent crude is trading at USD84.95 per barrel from USD84.83 per barrel at Wednesday's close. Gold, on the other hand, trades at USD2,466.05 an ounce from USD2,470.984 an ounce Tuesday night. Thursday's calendar sees as its main event the ECB communication at 1415 CEST, followed half an hour later by Christine Lagarde's lecture. In the morning, from the Eurozone, focus on construction sector output, due out at 1100 CEST, while in the US, at 1430 CEST, last week's jobless claims data will be known. Gas stocks numbers in the States will be released at 1630 CEST while the day will close with the Federal Reserve's balance sheet, released at 2230 CEST. Among the companies in the stock market, results from Arterra Bioscience, Dotstay, Eligo and Sesa are expected. Comments and questions to [email protected] Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.

Mib bullish; wait without surprises for ECB

(Alliance News) - Milan opened Thursday's session higher, bringing the point bar to the 34,300 area. The day's anticipation is all for the ECB, although trading floors are not expecting any surprises on rates and are instead waiting for the words of number one Lagarde to get some additional clues on the path of the cost of money. "Markets expect a wait-and-see ECB at tomorrow's meeting. Instead, the probability of a decline in September is estimated at 75 percent," Francesco Castelli, head of Fixed Income at Banor Capital, told Alliance News exclusively. According to the expert, there are "three circumstances that could favor this solution: in June, Lagarde made it clear that the easing path would not be linear - "bumpy road." Moreover, the June downturn had also coincided with the release of updated economic projections, which happens every two meetings." "Postponing everything until September would make a lot of sense because Lagarde, once again, may need updated data before finding consensus between 'hawks' and 'doves,'" Castelli added. "Third, the probability of a Fed downturn has greatly increased in recent weeks. While not explicitly admitting it, the ECB knows that a solo downturn risks depressing the euro, importing inflation," he concluded. Among the smaller listings last night, the Mid-Cap is giving up 0.1 percent to 48,427.09, the Small-Cap is in the green by 0.1 percent to 29,426.91, and Italy Growth is just below par at 8,119.67. In Europe, London's FTSE 100 is advancing 0.8 percent, Paris' CAC 40 is up 0.1 percent, and Frankfurt's DAX 40 is giving up 0.1 percent. On the Mib, good start for Eni, which moves ahead 1.5% to EUR14.34 per share. Of note, the company and Kazakhstan's state-owned KazMunayGas - KMG announced Tuesday the start of construction of a 250 MW renewable sources and gas hybrid power plant at Zhanaozen in Kazakhstan's Mangystau region. Strength also on Iveco, which advances 1.2% to EUR11.40 per share, rearing its head again after two bearish sessions. Banco BPM -- up 0.4 percent -- announced Wednesday the final results of the offer to repurchase its EUR400.0 million perpetual bond. At the expiration of the offer, the total nominal amount of existing securities was EUR179.5 million, and Banco BPM made the repurchase at the same time as issuing a new EUR400.0 million euro-denominated fixed-rate reset Additional Tier 1 perpetual bond. Stellantis sales -- up 1.1 percent -- in June rose slightly in Europe, underperforming the European market, where registrations grew 4.3 percent year-on-year to nearly 1.1 million units. As data from ACEA, the European Automobile Manufacturers' Association, showed Thursday, the merged giant of PSA Groupe and Fiat Chrysler Automobiles posted a 0.4 percent increase over June 2023, but market share fell to 17.3 percent in June from 18.0 percent a year earlier. In contrast, Nexi advanced 0.3 percent to EUR5.89 per share. Dutsche Bank raised its target price to EUR6.50 from EUR5.80, with a "hold" recommendation. Leonardo, however, is moving just below par, with price at EUR22.80 per share. Worth mentioning that on the stock Goldman Sachs raised the target price to EUR23.50 from EUR23.80 previously. On the Mid-Cap, strength on Webuild, which is up 2.9 percent to EUR2.22 per share, following eve's 1.5 percent decline. For Fincantieri, on the other hand, the rise is 1.5 percent, in its third bullish session. Ascopiave -- in the green by 0.2 percent -- reported Wednesday that between July 10 and 16 it bought 36,524 shares at an average price of EUR2.3835 for a total value of EUR87,056.75. As a result of these purchases, Ascopiave holds 17.9 million shares or 7.7 percent of the share capital. At the back of the pack, among the many bearers, Piovan is giving up 1.2 percent, closing the listing at EUR12.25 and following up on the eve's 0.4 percent decline. On the Small-Cap, Giglio Group - once again bullish in double digits before going to auction - on Wednesday announced the launch of OMNIA. The new advanced technology platform, based on artificial intelligence, represents the innovative merger and evolution of Giglio Group's two proprietary platforms Flex and Nimbus, and offers an integrated end-to-end approach to managing both the physical and online buying process, from the initial order stage to final delivery. Conafi, on the other hand, advances 8.2 percent. The stock-which has been missing the ex-dividend since 2021-bounces after three sessions closed among the bearish. Good buying also on Fiera Milano, which moves up 2.2 percent heading for its third bullish daily candle. The stock, since the beginning of 2024, has increased its market cap by more than 49 percent. Avio, on the other hand, is giving up 1.4 percent after two sessions ended in the green. On Italy Growth, EdiliziAcrobatica -- ahead 8.3 percent before going into a volatility auction -- reported Thursday that the number of contracts signed in the first half of the year rose 40 percent to 16,107 from 11,500 in the same period of 2023. The number of customers also increased by nearly 59 percent from June 30, 2023. Askoll Eva advances 3.7 percent, after two sessions closed in ross at EUR0.227. The stock on the MarketScreenr platform expresses a target price of EUR0.28, thus being underpriced by about 28%. Circle--flat at EUR7.82--reported Thursday that Magellan Circle Italia, a company part of the Circle group and a leader in transport, mobility, logistics, environmental and circular economy consulting, has signed a two-year contract worth about EUR140,000 with a client in the port sector for the technical and financial management of six European projects. Prisms, also unchanged at EUR0.069, reported-between July 9 and July 15-it received payments on account of future capital increase of more than EUR300,000, including EUR150,000 from Tender Capital and the remainder from other qualified investors. In the U.S. on Wednesday, Wall Street closed lower: the Dow Jones Industrial Average rose 0.6 percent, but the S&P 500 fell 1.4 percent and the Nasdaq Composite fell 2.8 percent. In Asia, the Nikkei gave up 2.4 percent, the Shanghai Composite picked up 0.5 percent, and the Hang Seng is picking up 0.4 percent. Among currencies, the euro changed hands to USD1.0929 from USD1.0930 in Wednesday's European stock close while the pound is worth USD1.3000 against USD1.3007 last night. Among commodities, Brent crude trades at USD85.58 per barrel from USD84.83 per barrel at Wednesday's close. Gold, on the other hand, trades at USD2,472.31 an ounce from USD2,470.984 an ounce Tuesday night. Thursday's calendar sees as its main event the ECB communication at 1415 CEST, followed half an hour later by Christine Lagarde's lecture. In the morning, from the Eurozone, focus on construction sector output, due out at 1100 CEST, while in the US, at 1430 CEST, last week's jobless claims data will be known. Gas stocks numbers in the States will be released at 1630 CEST while the day will close with the Federal Reserve's balance sheet, released at 2230 CEST. Among the companies in the stock market, results from Arterra Bioscience, Dotstay, Eligo and Sesa are expected. Comments and questions to [email protected] Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.

European indexes directionless before ECB

(Alliance News) - Piazza Affari closes around parity on Wednesday's session, the day before the European Central Bank weighs in on its latest monetary policy decision. The European Central Bank is not expected to follow up June's rate cut with another Thursday, although the words of its president, Christine Lagarde, will be closely scrutinized as attention focuses on the September meeting. The Frankfurt-based institution will announce its latest interest rate decision Thursday at 2:15 p.m. CEST. Half an hour later, a press conference with Lagarde will follow. In June, the ECB cut rates by 25 basis points. The main refinancing operations rate, the marginal lending rate and the deposit rate at the central bank are now at 4.25 percent, 4.50 percent and 3.75 percent, respectively. The FTSE Mib closed Wednesday flat at 34,379.64, the Mid-Cap lost 0.5 percent to 48,486.03, the Small-Cap rose 0.9 percent to 29,390.11, and Italy Growth gave up 0.2 percent to 8,120.53. In Europe, London's FTSE 100 closed down 0.3 percent, Paris' CAC 40 finished around parity and Frankfurt's DAX 40 lost 0.4 percent. On the Mib, strength on A2A, which closed up 3.2% at EUR1.9180 per share, rearing its head after three bearish sessions. Good buying also on Saipem, up 0.7% to EUR2.39 per share after a 1.5% decline on the eve of the day. Rise also for parent company Eni, which scores a plus 0.9% to EUR14.1340 per share. Of note, the company and Kazakhstan's state-owned KazMunayGas - KMG announced Tuesday the start of construction of a 250 MW renewable sources and gas hybrid power plant at Zhanaozen in Kazakhstan's Mangystau region. Goldman Sachas resumes coverage of Prysmian, setting the target price at EUR70.00. The stock -- which closed 1.7 percent in the red -- is priced at EUR61.70 per share. Iveco, on the other hand, gave up 2.0 percent to EUR11.27 per share while Amplifon lost 1.3 percent to EUR30.02, in its third consecutive session with a bearish candle. On the Mid-Cap, strength on Fincantieri, which rose 6.5% and closed its second bullish session in a row. Ariston Holding gained 4.7 percent to EUR4.17.60. It should be noted that the stock since the start of 2024 marks a loss of more than 34 percent. Pier Silvio Berlusconi, CEO of MFE-MediaForEurope, announced Tuesday evening at a meeting with journalists that the group's advertising revenues in Italy and Spain will grow by 6.7 percent compared to the same period in 2023. Consolidated Ebit, meanwhile, is expected to rise 11 percent. Class A shares rose 1.9 percent while Class B shares gained 0.7 percent. Italian Sea Group, on the other hand, lost 0.7 percent, repeating the eve's decline of 0.5 percent. On the Small-Cap, Bastogi lost 0.7 percent, following Tuesday's decline of 0.2 percent. doValue - up 3.0% - announced Tuesday that it will increase assets under management through the contribution of UTP loan portfolios and a stage 2 component for a gross book value of EUR300 million. Piquadro - on a par - announced Wednesday that consolidated sales for the first three months of fiscal year 2024/2025 ended June 30 amounted to EUR36.1 million, up 4.9% from EUR34.4 million in the same period a year earlier. Giglio Group -- up more than 24 percent -- on Wednesday announced the launch of OMNIA. The new advanced technology platform, based on artificial intelligence, represents the innovative merger and evolution of Giglio Group's two proprietary platforms Flex and Nimbus, and offers an integrated end-to-end approach to managing both the physical and online purchasing process, from the initial order stage to final delivery. Among SMBs, buying on eVISO, which takes the price to EUR5.04, up 8.6 percent, following up on its 6.4 percent gain on the eve. Previously, the stock had come from six closing sessions with a bearish candle. Health Italia gained 3.3%, following up on the eve's 8.0% rise. DHH, on the other hand, lost 2.7 percent. The company, which is continuing steadily with its buyback plan, most recently reported that last week's transactions involved about 3,500 of its own ordinary shares for about EUR105,000. SolidWorld Group--declining 0.4 percent--reported Tuesday evening that the capital increase was successfully concluded with the subscription of all 811,250 newly issued ordinary shares, worth nearly EUR2.3 million. In New York, the Dow is up 0.3 percent to 41,067.96, the Nasdaq gives up 2.4 percent to 18,064.95 and the S&P 500 drops 1.2 percent to 5,599.24. Among currencies, the euro changes hands at USD1.0930 from Tuesday's USD1.0884 in closing European equities while the pound is worth USD1.3007 against USD1.2958 last night. Among commodities, Brent crude is trading at USD84.83 per barrel from USD84.03 per barrel at Tuesday's close. Gold, on the other hand, trades at USD2,470.984 an ounce from USD2,464.92 an ounce Tuesday evening. Thursday's calendar sees as its main event the ECB communication at 1415 CEST, followed half an hour later by Christine Lagarde's lecture. But macroeconomic appointments begin with the Japanese trade bialncia at 0150 CEST and continue with car registrations in Europe, at 0800 CEST. At the same time, UK unemployment data will arrive. From the Eurozone, focus on construction sector output, out at 1100 CEST, while in the US, at 1430 CEST, last week's jobless claims data will be known. Gas stocks numbers in the States will be released at 1630 CEST while the day will close with the Federal Reserve's balance sheet, released at 2230 CEST. Among the companies in the stock market, results from Arterra Bioscience, Dotstay, Eligo and Sesa are expected. By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter Comments and questions to [email protected] Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.

Mib down slightly; good purchases on A2A

(Alliance News) - The Mib moves lower in the third session of the week, cruising in the 34,300 area and aligning with the trend of other European exchanges, with markets suffering from the news that the U.S. administration is reportedly considering imposing tighter trade restrictions on companies that continue to supply China with access to advanced semiconductor technology. On the economic data front, the euro area's annual inflation rate stood at 2.5 percent in June, down from 2.6 percent in May and down sharply from 5.5 percent a year earlier. In Europe, Paris's CAC 40 is giving up 0.4 percent, London's FTSE 100 is giving up 0.2 percent, and Frankfurt's DAX 40 is in the red by 0.3 percent. Among the smaller listings, the Mid-Cap is giving up 0.5 percent to 48,493.49, the Small-Cap is advancing 0.6 percent to 29,286.62 while Italy Growth is in the red 0.3 percent to 8,112.89. On the Mib, strength on A2A, which is up 1.6 percent to EUR1.88 per share, rearing its head after three bearish sessions. Good buying also on Saipem, which moves ahead 1.2% to EUR2.39 per share, after a 1.5% loss on the eve of trading. Green also for parent company Eni, which scores a plus 0.6% to EUR14.09 per share. Of note, the company and Kazakhstan's state-owned KazMunayGas - KMG announced Tuesday the start of construction of a 250 MW renewable and gas hybrid power plant at Zhanaozen in Kazakhstan's Mangystau region. Goldman Sachas resumes coverage of Prysmian, setting the target price at EUR70.00. The stock -- which trades in the red by 0.8 percent -- is priced in the EUR62.26 per share area. Iveco, on the other hand, is giving up 1.4 percent to EUR11.33 per share, following the 0.2 percent drop in the previous session and placing itself at the tail end of the list. Amplifon on the other hand gives up 1.1 percent to EUR30.80, in its third session with a bearish candle. On the cadet segment, strength on Fincantieri, which brings the price up 3.3% on its second bullish session. Ariston Holding moves ahead 0.2 percent to EUR4.93. It should be noted that the stock since the start of 2024 marks a loss of more than 34%. Pier Silvio Berlusconi, CEO of MFE-MediaForEurope, announced Tuesday evening at a meeting with journalists a 6.7 percent growth in the group's advertising revenues in Italy and Spain compared to the same period in 2023. Consolidated Ebit, on the other hand, is expected to increase by 11 percent. Class A shares are advancing 0.2%, while Class B shares are in the green by 0.1%. The Italian Sea Group, on the other hand, is stepping back 2.3 percent, after declining 0.5 percent on the eve. On the Small-Cap, Bastogi is giving up 2.9%, on the heels of Tuesday's 0.2% decline. On the other hand, Aeffe is giving up 2.6 percent to EUR0.7520 per share, after two bullish sessions. doValue - in the red by 0.4% - announced Tuesday that it will increase assets under management through the contribution of UTP loan portfolios and a stage 2 component for a gross book value of EUR300 million. Piquadro - in the green by 1.0 percent - reported Wednesday that consolidated sales for the first three months of fiscal year 2024/2025 ended June 30 amounted to EUR36.1 million, up 4.9 percent from EUR34.4 million in the same period a year earlier. Banca Sistema, meanwhile, advances 1.9 percent, on its fourth bullish candlestick session. Giglio Group -- ahead by more than 15 percent before going into volatility auction -- on Wednesday announced the launch of OMNIA. The new advanced technology platform, based on artificial intelligence, represents the innovative merger and evolution of Giglio Group's two proprietary platforms Flex and Nimbus, and offers an integrated end-to-end approach to managing both the physical and online purchasing process, from the initial order stage to final delivery. Among SMBs, buying on eViso, which takes the price to EUR4.82 up 3.9 percent, following up on eve's 6.4 percent gain. The stock previously came from six closing sessions with a bearish candle. Health Italia, on the other hand, is advancing 1.4 percent, following up on eve's 8% gain. DHH, on the other hand, is giving up 2.7 percent. The company, which is continuing steadily with its buyback plan, most recently reported that last week's transactions involved about 3,500 of its own ordinary shares for about EUR105,000. SolidWorld Group--declining 1.0 percent--reported Tuesday evening that the capital increase had been successfully concluded with the subscription of all 811,250 newly issued ordinary shares, worth nearly EUR2.3 million. In New York overnight Europe, the Dow rallied 1.9 percent, the Nasdaq closed in the green by 0.2 percent, and the S&P 500 was up 0.6 percent. Among Asian exchanges, the Nikkei gave up 0.4 percent, the Shanghai Composite gave up 0.5 percent, and the Hang Seng closed just above par. Among currencies, the euro changed hands to USD1.0942 from USD1.0884 in Tuesday's European stock close while the pound was worth USD1.3042 against USD1.2958 last night. Among commodities, Brent crude is trading at USD83.59 per barrel from USD84.03 per barrel at Tuesday's close. Gold, on the other hand, trades at USD2,473.84 an ounce from USD2,464.92 an ounce Tuesday night. Wednesday's macroeconomic calendar includes the US mortgage data at 1300 CEST, while at 1430 CEST the various reports on the housing market will be available. At 1630 CEST the crude oil stocks data, Cushing inventory and the EIA report will be released. Among the companies on the stock exchange, Altea Green Power will release its half-year results. Comments and questions to [email protected] Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.

Squares active; Stellantis sales increase.

(Alliance News) - European stock markets are positioned to open higher Thursday, ahead of the Eurozone interest rate decision and after news that President Biden is suffering from Covid-19, announced shortly after he said he would consider dropping out of his reelection bid if diagnosed with the serious condition. U.S. President Joe Biden tested positive for Covid with mild symptoms Wednesday, shortly after admitting he would consider dropping out of his reelection bid if doctors diagnosed him with a serious medical condition, AFP reported. The infection comes at a critical time for Biden's campaign, with the president trying to prove he is up to the task after a debate against rival Donald Trump sparked concerns about his health and calls from several Democrats for him to step aside. Biden was forced to cancel a speech to a union representing Latino workers that will be crucial to his electoral bid. Before the bell rings, it is mentioned that Stellantis NV sales in June rose slightly in Europe, underperforming the European market, where registrations grew 4.3 percent year-on-year to nearly 1.1 million units. As data from ACEA, the European Automobile Manufacturers' Association, showed Thursday, the merged giant of PSA Groupe and Fiat Chrysler Automobiles posted a 0.4 percent increase over June 2023, but market share fell to 17.3 percent in June from 18.0 percent a year earlier. The FTSE Mib-after closing Wednesday in a tie at 34,379.64-is advancing 37.50 points. Among the smaller listings last night, the Mid-Cap lost 0.5% to 48,486.03, the Small-Cap rose 0.9% to 29,390.11, and Italy Growth gave up 0.2% to 8,120.53. In Europe, London's FTSE 100 is advancing 45.80 points, Paris' CAC 40 is advancing 12.00 points, and Frankfurt's DAX 40 is advancing 23.70 points. On the Mib last night, strength on A2A, which closed up 3.2 percent at EUR1.9180 per share, rearing its head after three bearish sessions. Good buying also on Saipem, up 0.7 percent to EUR2.39 per share after a 1.5 percent decline on the eve of the day. Rise also for parent company Eni, which scores a plus 0.9% to EUR14.1340 per share. Of note, the company and Kazakhstan's state-owned KazMunayGas - KMG announced Tuesday the start of construction of a 250 MW renewable sources and gas hybrid power plant at Zhanaozen in Kazakhstan's Mangystau region. Goldman Sachas resumes coverage of Prysmian, setting the target price at EUR70.00. The stock -- which closed 1.7 percent in the red -- is priced at EUR61.70 per share. Iveco, on the other hand, gave up 2.0 percent to EUR11.27 per share while Amplifon lost 1.3 percent to EUR30.02, in its third consecutive session with a bearish candle. On the Mid-Cap, strength on Fincantieri, which rose 6.5% and closes its second bullish session in a row. Ariston Holding gained 4.7 percent to EUR4.17.60. It should be noted that the stock since the start of 2024 marks a loss of more than 34 percent. Pier Silvio Berlusconi, CEO of MFE-MediaForEurope, announced Tuesday evening at a meeting with journalists that the group's advertising revenues in Italy and Spain will grow by 6.7 percent compared to the same period in 2023. Consolidated Ebit, on the other hand, is expected to rise 11 percent. Italian Sea Group, on the other hand, lost 0.7 percent, repeating the eve's decline of 0.5 percent. On the Small-Cap, Bastogi lost 0.7 percent, following Tuesday's decline of 0.2 percent. doValue - up 3.0% - announced Tuesday that it will increase assets under management through the contribution of UTP loan portfolios and a stage 2 component for a gross book value of EUR300 million. Piquadro - on a par - announced Wednesday that consolidated sales for the first three months of fiscal year 2024/2025 ended June 30 amounted to EUR36.1 million, up 4.9% from EUR34.4 million in the same period a year earlier. Giglio Group -- up more than 24 percent -- on Wednesday announced the launch of OMNIA. The new advanced technology platform, based on artificial intelligence, represents the innovative merger and evolution of Giglio Group's two proprietary platforms Flex and Nimbus, and offers an integrated end-to-end approach to managing both the physical and online purchasing process, from the initial order stage to final delivery. Among the SMBs, buying on eVISO, which takes the price to EUR5.04, up 8.6 percent, following up on its 6.4 percent gain on the eve. Previously, the stock had come from six closing sessions with a bearish candle. Health Italia gained 3.3%, following up on the eve's 8.0% rise. DHH, on the other hand, lost 2.7 percent. The company, which is continuing steadily with its buyback plan, most recently reported that last week's transactions involved about 3,500 of its own ordinary shares for about EUR105,000. SolidWorld Group--declining 0.4 percent--reported Tuesday evening that the capital increase was successfully concluded with the subscription of all 811,250 newly issued ordinary shares, worth nearly EUR2.3 million. In the U.S. on Wednesday, Wall Street closed lower, with the Dow Jones Industrial Average up 0.6 percent, but the S&P 500 down 1.4 percent and the Nasdaq Composite down 2.8 percent. In Asia, the Nikkei gave up 2.2 percent, the Shanghai Composite is advancing 0.2 percent, and the Hang Seng is picking up 0.4 percent. Among currencies, the euro changed hands to USD1.0933 from USD1.0930 in Wednesday's European stock close while the pound is worth USD1.3006 against USD1.3007 last night. Among commodities, Brent crude is trading at USD85.50 per barrel from USD84.83 per barrel at Wednesday's close. Gold, on the other hand, trades at USD2,465.84 an ounce from USD2,470.984 an ounce Tuesday night. Thursday's calendar sees as its main event the ECB communication at 1415 CEST, followed half an hour later by Christine Lagarde's lecture. In the morning, from the Eurozone, focus on construction sector output, due out at 1100 CEST, while in the US, at 1430 CEST, last week's jobless claims data will be known. Gas stocks numbers in the States will be released at 1630 CEST while the day will close with the Federal Reserve's balance sheet, released at 2230 CEST. Among the companies in the stock market, results from Arterra Bioscience, Dotstay, Eligo and Sesa are expected. Comments and questions to [email protected] Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.

Stock markets little moved; boost on Saipem and Eni

(Alliance News) - Equity markets moved around the parity line Wednesday, with trading floors reacting to the latest U.K. inflation data -- pending that of the Eurozone -- which remained largely unchanged in June. The annual inflation rate in the U.K. remained steady at 2.0 percent in June, unchanged from May, and remained at 2021 lows even though market forecasts were pointing to 1.9 percent. The data were published Wednesday by the Office for National Statistics. The FTSE Mib is moving around the parity line at 34,366.97 points. In Europe, Paris' CAC 40 is just above par, London's FTSE 100 gives up 0.1 percent, and Frankfurt's DAX 40 is just above par. Among the smaller lists, the Mid-Cap is giving up 0.1 percent to 48,675.97, the Small-Cap is advancing 0.9 percent to 29,390.74, while Italy Growth is in the red 0.1 percent to 8,126.67. On the Mib, good start for Saipem, which is advancing 1.7 percent to EUR2.40 per share, after a 1.5 percent loss on the eve of trading. Green also for parent company Eni, which scores a plus 0.5% to EUR14.08 per share. Of note, the company and Kazakhstan's state-owned KazMunayGas - KMG announced Tuesday the start of construction of a 250 MW renewable and gas hybrid power plant at Zhanaozen in Kazakhstan's Mangystau region. Goldman Sachas resumes coverage of Prysmian, setting the target price at EUR70.00. The stock - which trades in the green by 0.4 percent - is priced in the EUR63.00 per share area. Iveco, on the other hand, is giving up 1.8 percent to EUR11.28 per share, following a 0.2 percent drop in the previous session. Amplifon, meanwhile, gives up 1.6 percent, in its third bearish session. On the cadet segment, strength on Caltagirone, which moves ahead 1.8% to EUR5.68, placing the snout vereso its third bullish session. CIR, meanwhile, advances 1.6 percent to EUR0.62 per share, updating its 52-week high at this price. Pier Silvio Berlusconi, CEO of MFE-MediaForEurope NV, announced Tuesday evening at a meeting with journalists a 6.7 percent growth in the group's advertising revenues in Italy and Spain compared to the same period in 2023. Consolidated Ebit, on the other hand, is expected to rise 11 percent. Class A shares are giving up 0.3%, while class B shares are in the fractional red. The Italian Sea Group, on the other hand, is stepping back 1.4 percent, after declining 0.5 percent on the eve. On the Small-Cap, Bastogi is giving up 2.9%, on the heels of Tuesday's 0.2% decline. Piquadro -- in the green by 1.0 percent -- reported Wednesday that its consolidated sales for the first three months of the 2024/2025 fiscal year ended June 30 amounted to EUR36.1 million, up 4.9 percent from EUR34.4 million in the same period a year earlier. Banca Sistema, on the other hand, advances 3.0%, on its fourth bullish candle session. doValue - in the green by 2.0% - announced Tuesday that it will increase assets under management through the contribution of UTP loan portfolios and a stage 2 component for a gross book value of EUR300 million. Giglio Group - ahead by more than 10% - on Wednesday announced the launch of OMNIA. The new advanced technology platform, based on artificial intelligence, represents the innovative merger and evolution of Giglio Group's two proprietary platforms Flex and Nimbus, and offers an integrated end-to-end approach to managing both the physical and online purchasing process, from the initial order stage to final delivery. Among SMBs, buying on eViso, which takes the price to EUR4.76 up 4.7 percent, following up on eve's 6.4 percent gain. The thiolo vebiva from six closing sessions with bearish candlestick. Health Italia, on the other hand, is advancing 3.3 percent, following up eve's 8 percent gain. DHH, on the other hand, is giving up 2.7 percent. The company, which is continuing steadily with its buyback plan, most recently reported that last week's transactions involved about 3,500 of its own ordinary shares for about EUR105,000. SolidWorld Group--declining 0.7 percent--reported Tuesday evening that the capital increase was successfully concluded with the subscription of all 811,250 newly issued ordinary shares, worth nearly EUR2.3 million. In New York overnight Europe, the Dow rallied 1.9 percent, the Nasdaq closed in the green by 0.2 percent, and the S&P 500 was up 0.6 percent. Among Asian exchanges, the Nikkei gave up 0.4 percent, the Shanghai Composite is giving up 0.3 percent, while the Hang Seng is advancing 0.2 percent. Among currencies, the euro changed hands to USD1.0902 from USD1.0884 in Tuesday's European stock close while the pound is worth USD1.2975 against USD1.2958 last night. Among commodities, Brent crude is trading at USD83.49 per barrel from USD84.03 per barrel at Tuesday's close. Gold, on the other hand, trades at USD2,463.56 an ounce from USD2,464.92 an ounce Tuesday night. Wednesday's macroeconomic calendar includes, at 1100 CEST the Eurozone inflation figure. From the US, at 1300 CEST, the mortgage data will be released, while at 1430 CEST the various reports on the housing market will be available. At 1630 CEST, the crude oil stocks data, Cushing inventory and the EIA report will be released. Among the companies in the Italian stock market, Altea Green Power will release its half-year results. Comments and questions to [email protected] Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.