(Alliance News) - According to IG futures, markets are headed for a down opening Friday morning on a poor day from a macro data perspective and at the conclusion of an important week for central banks. In a surprise move yesterday, Switzerland cut its interest rate by 25 basis points to 1.5 percent and became the first major central bank to cut rates.

"If all goes well and inflation remains under control, the Fed and ECB are also expected to cut rates in June," commented Ipek Ozkardeskaya, Senior Analyst at Swissquote Bank. "In the UK, two hawks in the Bank of England have declined to vote for a rate hike. Therefore, yesterday, no one voted for a rate hike, 8 members voted to keep rates unchanged, and 1 voted to cut them. The votes in favor of cutting have yet to increase, but the BoE is also showing signs of turning its back on policy tightening."

Thus, the FTSE Mib is expected to fall 0.2 percent after closing in the green by 0.1 percent at 34,327.95.

In Europe, Paris' CAC 40 is given in the red by 0.4 percent or 33.2 points, London's FTSE 100 is expected down 0.1 percent or 4.4 points while Frankfurt's DAX 40 is expected down 0.2 percent or 31.1 points.

Among the morning macros, of note, Japan's annual inflation rate rose to 2.8 percent in February from 2.2 percent in the previous month, marking the highest level since last November.

In Milan, among the smaller listings, the Mid-Cap rallied 0.9 percent to 47,692.81, the Small-Cap closed in the green 0.9 percent to 27,758.11 while the Italy Growth finished up 0.1 percent to 8,172.23.

On the Mib, boost on FinecoBank, which closed bullish by 1.9% with price at EUR13.73 per share, in its third bullish session.

Strength also on Interpump, which closed with green candle by 1.7 percent with new price at EUR44.30 per share after 0.6 percent red on the eve. The company, after confirming good accounts, on Monday that the board resolved to pay a dividend of EUR0.32 per share, up from EUR0.30 paid last year.

On the heels of European registration data, Stellantis -- in the green by 1.0 percent -- reported that sales in February were up 11 percent from February 2023, with market share rising to 18.7 percent in February from 18.5 percent in February 2023.

Nexi, on the other hand, gave up 4.9 percent, after a 0.7 percent gain on the eve of the day that broke a five-session downtrend.

Down goes Terna, down 2.6% to EUR7.63. Goldman Sachs raised its target price to EUR7.95 from the previous EUR6.65. The company also reported that Moody's confirmed its 'Baa2' long-term rating on the company, with a Stable outlook.

Sales, among others, also on Telecom Italia, which gave up 4.0% following the previous three bearish sessions. Of note, BlackRock and Capital Fund exceed 0.5% short position on the stock.

On the cadet segment, ENAV rose 8.6% after announcing Thursday that it closed 2023 with a consolidated profit of EUR112.7 million from EUR105.0 million as of Dec. 31, 2022. The company said it had proposed a dividend of EUR0.23 per share from EUR0.1967 in 2022.

Cembre, on the other hand, advanced 6.3 percent after falling 0.2 percent in the previous session.

Good buys were also made on Ariston Holding, which rallied 4.7 percent, after the previous session's 0.8 percent green.

Fitch Ratings reported Wednesday that it upgraded Acea's outlook -- down 0.8 percent -- from Negative to Stable, confirming the long-term issuer default rating at 'BBB+.' In addition, the rating agency confirmed the short-term IDR at 'F2' and the long-term senior unsecured rating at 'BBB+'. The improved outlook reflects Acea's good financial performance recorded in 2023, careful working capital management, and net debt to EBITDA ratio in planned arc not exceeding 3.5 times.

At the tail end is Juventus FC, which closed down 7.7 percent, following the previous session's 3.0 percent red.

On the Small-Cap, boost on Antares Vision, which closed bullish by 9.6%--on its sixth bullish daily candle--and registers a plus 28% in the last month of trading.

doValue rises 1.8 percent after approving preliminary results as of Dec. 31 on Thursday, closing with a net loss, including nonrecurring items, of EUR17.8 million, compared to a EUR16.5 million profit in 2022. The company also approved the plan to 2026, which forecasts gross revenues in the range of EUR480-490 million, of which 35-40% are non-NPL. Gross Book Value in 2026 is expected to be about EUR110 billion with a funding rate of about 5.5%; ex-NRI Ebitda is given in the range of EUR185-195 million, with an Ebitda margin of about 39%.

Seco, on the other hand, advances 4.5 percent, following up on eve's 5.0 percent assets.

FILA -- in the red by 1.4 percent and on its third bearish run -- on Tuesday reported that it ended 2023 with consolidated revenues of EUR779.2 million from EUR764.6 million as of Dec. 31, 2022. Normalized net income for the period was EUR40.6 million from EUR42.8 million in 2022. The company said it has proposed to distribute a dividend of a maximum total amount of EUR6.1 million, confirming that of EUR0.12 per share in 2022.

Among SMEs, GEL stretched over 12 percent, following up on eve's gain, albeit by a more modest 2.3 percent.

Growens appreciated 3.8 percent, rewarded by good 2023 accounts. The company ended last year with a net profit of EUR53.2 million, compared to the EUR2.5 million red booked in 2022, "as a result of the extraordinary divestment operations carried out in 2023."

Altea Green Power rose 3.5 percent after it reported Thursday that a co-development agreement for "BESS Storage" electricity storage systems was signed with a major North American investment fund specializing in alternative energy. The value of the sale is more than EUR68 million plus a success fee of up to EUR15 million that will be defined in relation to the achievement of performance ratios agreed between the parties, the company explained in a note.

Among the bearish, Gibus left 4.3 percent on the parterre, following the eve's contraction with 2.3 percent. From the accounts released Wednesday, it evicne that pretax profit fell to EUR6.9 million from EUR17.5 million and net income fell to EUR3.7 million from EUR10.3 million. The board proposed a dividend of EUR0.50 per share, unchanged from that paid in 2022.

In Asia, the Nikkei rose 0.2 percent, the Hang Seng gave up 0.9 percent, and the Shanghai Composite closed 1.0 percent in the red.

In New York on European night, the Dow closed in the green by 0.7 percent, the Nasdaq rose 0.2 percent while the S&P 500 picked up 0.3 percent.

Among currencies, the euro changed hands at USD1, against USD1.0859 recorded in Thursday's European stock close while the pound is worth USD1, up from USD1.2665 last night.

Brent crude is worth USD85.31 per barrel versus USD85.24 per barrel at Thursday's close. Gold, meanwhile, trades at USD1,168.76 an ounce from USD2,178.50 an ounce last night.

Friday's macroeconomic calendar includes a speech by Fed Chairman Jerome Powell at 1400 CET, while at 1800 CET there will be the release of Baker Hughes data. In the evening, at 2130 CET, the COT Report will be published, as usual on Fridays.

Among the many expected results from companies in the Piazza Affari include Brioschi, Class Editori, Fervi, Fope, and Itway.

By Chiara Bruschi, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.