Indexes up; Leonardo tops on Mib.

(Alliance News) - On Friday, almost all major European indexes veered into the positive area in mid-session after opening down this morning.

Thus, the FTSE Mib is up 0.1 percent at 34,357.74 as is the Mid-Cap at 47,761.72, the Small-Cap is in the green 1.1 percent at 28,051.15, while Italy Growth is up 0.1 percent at 8,176.76.

In Europe, Paris' CAC 40 is just above par, London's FTSE 100 is up 0.8 percent, while Frankfurt's DAX 40 is down 0.1 percent.

Meanwhile, from Germany, the ifo reports that German business sentiment has improved "markedly."

The ifo business confidence index rose to 87.8 points in March from 85.7 points in February. This was above expectations of 86 points, according to the consensus cited by FXStreet.

On the Mib, Leonardo takes the top spot with a 2.0% rise, followed by Recordati and Tenaris, in the green by 1.6% and 1.4%.

Enel recovers and after opening down, now gains 0.5%. The company reported Thursday that it ended 2023 with net income doubled year-on-year to EUR3.44 billion from EUR1.68 billion a year earlier.

Revenues dropped 32 percent to EUR95.57 billion from EUR140.52 billion in 2022. The change was mainly attributable to lower average selling prices in an environment of gradual normalization in the energy sector compared to 2022 as well as the different scope of consolidation.

Fitch Ratings announced Thursday that it raised Banco BPM's ratings -- up 0.6 percent -- by a notch due to the bank's "strong buffers."

The senior long-term preferred rating was raised to 'BBB-' from 'BBB' metre the senior long-term non-preferred rating rose to 'BB+' from 'BBB-'.

Eni - in the red by 0.3 percent - reported Thursday that it has received authorization, in the form of a Development Consent Order, from the U.K. Department of Energy Security and Net Zero for the construction, commissioning and conversion of the CO2 transport-related infrastructure of the HyNet North West project, for which the company is the CO2 transport and storage operator.

The authorization for a CO2 transport network represents the first example of a cross-border infrastructure project of national significance between England and Wales to be approved via DCO by DESNZ.

At the bottom is Banca Popolare di Sondrio, in the red by 0.4 percent.

On the cadet segment, LU-VE does best of all and rises 5.7 percent. On Wednesday it reported results for the 2023 fiscal year, which ended with a profit of EUR31.4 million, down from EUR49.1 million a year earlier. Adjusted profit amounted to EUR37.0 million from EUR35.2 million in 2022. The board of directors resolved to propose a gross dividend of EUR0.40 per share to the shareholders' meeting, up from EUR0.38 proposed in 2023

Also in the upper echelons is ENAV, with 3.7 percent, 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.

Fitch Ratings announced Wednesday that it had upgraded Acea's outlook -- in the green by 0.3 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.

MFE-MediaForEurope -- B shares in the green by 0.4 percent and A shares up by 1.4 percent -- on Thursday proposed that the separation of the Dating & Video and Commerce & Ventures segments from the Entertainment Business segment of ProSiebenSat.1 -- in which MFE is the largest shareholder -- be prepared through a "Resolution on the Preparation of a Demerger and Transfer Agreement in Accordance with Section 83 AktG."

The resolution will be submitted to the shareholders' meeting on April 30.

On the Small-Cap, Seri Industrial takes the top spot with an 11 percent rise.

doValue rises 7.1 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%; Ebitda ex-NRI is given in the range of EUR185-195 million, with an Ebitda margin of about 39%.

Gabetti Property Solutions advances 1.8 percent after announcing Thursday that the group's service company, Treere, has entered into an agreement with Hubique - a proptech company specializing in creating digital solutions in AI, AR and VR - for the use of HUB Agency, the app supporting real estate consulting work.

The app, new to the Toolbox - the digital suite of tools and conventions promoted by Treere - is available to professionals at Gabetti Franchising, Gabetti Home Value and Santandrea Luxury House & Top Properties.

Elica - up 1.9 percent - announced Thursday a revamped brand identity and an investment of more than EUR40 million over 3 years.

Among SMEs, Gambero Rosso gives up 7.6 percent. On Thursday, the BoD reviewed the consolidated financial statements as of December 31, 2023, which closed with consolidated net income amounting to about EUR1.2 million, up from EUR1.6 million in 2022.

Net sales revenue as of Dec. 31, 2023 reached EUR18.2 million compared to EUR17.3 million in the previous year.

Comal is flat at EUR3.65 per share after it reported Friday that it signed a EUR1.3 million contract to supply the "Sun Hunter" tracker with an Italian operator.

Altea Green Power advances 0.2 percent after reporting 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 over 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.

Bellini Nautica, flat at EUR1.72--reported Thursday that the board had approved the draft financial statements, which closed with a net income of EUR241,000 as of Dec. 31, compared with the year ended Dec. 31, 2022, for which a net income of EUR674,000 had been reported.

Sales revenue as of Dec. 31, 2023 was EUR11.1 million compared to the figure reported as of Dec. 31, 2022, of EUR12.1 million.

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 USD1.0816, up from USD1.0859 recorded at Thursday's European stock close while the pound is worth USD1.2583 from USD1.2665 last night.

Brent crude is worth USD85.89 per barrel versus USD85.24 per barrel at Thursday's close. Gold, meanwhile, trades at USD2,167.99 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 released, as usual on Fridays.

By Chiara Bruschi, Alliance News reporter

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