(Alliance News) - On Wednesday, Piazza Affari continued to trade lower, while European stock markets posted positive balances, thanks to growing hopes of interest rate cuts later in the year by major central banks.
Among the day's macro data, industrial production in Germany declined on both a monthly and annual basis in March, according to numbers provided Wednesday by Destatis.This saw a 0.4 percent decline in Germany in March compared to February, after rising 1.7 percent in February compared to January. The figure marks the first contraction in the sector since the beginning of the year.
Thus, the FTSE Mib, is giving up 0.2 percent to 34,190.35 points.
In Europe, Paris's CAC 40 is up 1.0 percent, London's FTSE 100 is advancing 0.4 percent, and Frankfurt's DAX 40 is marking a plus 0.5 percent.
Among the smaller lists on Tuesday, the Mid-Cap is giving up 0.3% to 48,008.49, the Small-Cap is advancing 0.2% to 29,374.98, while Italy Growth loses 0.5% to 8,209.81.
On the Mib, Leonardo takes the lead bringing the price to EUR22.31 thanks to a net positive balance of 4.0%. In the first quarter of 2024 it closed with a net result of EUR459 million from EUR40 million in the comparable period, which includes, in addition to the ordinary net result, the gain recognized as a result of the fair value valuation of the Telespazio Group, carried out for the purpose of fully consolidating it. In contrast, net ordinary income is EUR93 million.
High quarters also for FinecoBank, which reported a profit almost unchanged in the first quarter compared to a year ago, while revenues grew. In fact, it reported Tuesday that net ptofit in the first quarter stood at EUR147.0 million, down only slightly from EUR147.3 million as of March 31, 2023. Revenues in the first quarter stood at EUR327.0 million, up 11 percent from EUR293.7 million in the same period last year.
The board of Banco BPM Spa -- down 1.0 percent -- on Tuesday approved the financial report for the first quarter of 2024, closing with a net income of EUR370.2 million compared to EUR265.3 million in the first three months of 2023. As a result, net income from continuing operations amounted to EUR446.3 million, up 37 percent from the figure of EUR326.8 million in the first quarter of 2023 and 30 percent from EUR343.1 million in the fourth quarter of the previous year.
Inwit - flat at EUR10.25 - reported Tuesday that it ended the first quarter with revenues of EUR254.6 million compared with EUR233.6 million in the same period last year.
Stellantis, on the other hand, is stepping back 1.3 percent, with price at EUR19.94, following two previous sessions that closed lower.
Campari, on the other hand, is stepping back 2.4 percent, following Monday's 6.8 percent gain thanks to excellent quarterly accounts.
On the Mid-Cap, boost on Intercos, which scores a plus 5.2%, despite reporting declining accounts on Tuesday, but still confirming guidance for 2024 that forecasts growing numbers.
Also advancing well is GVS, which with a plus 1.8 percent brings the price to the EUR5.75 area, in its third bullish session.
Good accounts for Credito Emiliano, which reported Tuesday that it closed the first quarter with a net profit of EUR160.9 million, which compares with EUR134.8 million in the same period last year. However, the stock trades bearish by 1.0 percent, veering lower after a bullish opening.
By contrast, d'Amico is giving up 0.7 percent, after two sessions closed on the bullish side. The company-as disclosed Wednesday-closed the first quarter with a net profit of USD56.3 million, up from USD54.1 million in the same period last year. Little movement in adjusted profit, which excludes nonrecurring items. The adjusted figure rises to USD56.7 million from USD56.5 million in the first quarter of 2023.
Sales also on Ariston Holding, which is stepping back 0.3 percent after reporting that it closed the first quarter with revenues down slightly.
Maire Tecnimont, on the other hand, closes the list in with a bearish candle of 4.2 percent. The company placed more than 2.3 million shares, corresponding to about 0.7 percent of the total number of ordinary shares, with institutional investors for a total gross consideration of about EUR16.9 million. The beneficiaries of the LTI Plan have undertaken a lock-up commitment on the shares remaining from the placement for a period of 90 days, subject to the express consent of the Sole Bookrunner.
On the Small-Cap, Safilo Group -- in the green with 5.6 percent -- reported Tuesday that it closed the first quarter with revenues of EUR277.2 million, down from EUR287.2 in the same period a year earlier. In the first quarter, gross industrial profit was EUR166.2 million, down 1.0% from EUR167.8 million in the first quarter of 2023, while gross industrial margin improved 160 basis points from 58.4% to 60.0%.
Seri Industrial, on the other hand, advances 3.9 percent, after a 5.7 percent green in the previous session.
The board of directors of Tessellis -- now flat at EUR0.55 after a bullish opening -- on Tuesday approved the consolidated balance sheet and sustainability budget as of December 31, 2023, which closed with a negative net income of EUR62.2 million from the negative EUR36.9 million in August-December 2022. Of note, this is the first full year for 12 months post-merger with Linkem's retail arm. Revenues and other income are EUR233.9 million compared to EUR101.7 million in August-December 2022.
Eems, however, gives up 3.0 percent to EUR0.1880 per share, in its second session in the red.
On the SME segment, IDNTT confirms the good session seen since the bell rang by advancing 5.3%, heading for the ninth bullish daily candle.
EdiliziAcrobatica - in the green by 0.4 percent to EUR11.55 - reported Wednesday that it closed the first quarter with revenues slightly down year-on-year to EUR33.3 million from EUR34.6 million in the same period last year.
expert.ai gave up 3.5 percent instead, ranking for the fourth session in a row among the bearish.
In New York, the Dow closed ahead 0.1 percent, the Nasdaq gave up 0.1 percent, while the S&P 500 marked a 0.1 percent rise.
Among currencies, the euro changed hands to USD1.0748 from USD1.0778 in Tuesday's European stock close while the pound was worth USD1.2486 from USD1.2573 on Monday evening.
Among commodities, the decline in barrel prices continues, with Brent crude oil trading at USD82.00 per barrel from USD83.47 per barrel on Monday. Gold, on the other hand, trades at USD2,310.82 an ounce from USD2,322.79 an ounce on Monday evening.
From the US, at 1300 CEST, the mortgage market data is due, while at 1630 CEST it will be the turn of the EIA report, crude oil stocks and Cushing's inventory.
In the evening, at 1900 CEST and 1930 CEST, a speech by Fed Governors Collins and Cook is scheduled.
By Maurizio Carta, Alliance News reporter
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