European markets lack momentum, Campari leads the MIB

(Alliance News) - There is caution on the markets at the opening of trading on Thursday. In Europe, German consumer confidence is improving, while in the US, the prospect of a possible interest rate cut by the Federal Reserve is dominating the headlines, partly as a result of yesterday's labor market data. The probability of a quarter-point cut is given at 85%.

The Mib is up 0.3% at 43,245.83 points, the Mid-Cap is up 0.4% at 58,494.38, the Small-Cap is up 0.4% at 35,614.29, and the Italia Growth is up 0.3% at 8,351.99.

The CAC 40 is up 0.1%, the DAX 40 is up 0.4%, and the FTSE 100 is up 0.1%.

On the Milan Stock Exchange, Poste Italiane, up 0.3%, issued a EUR750 million bond and is close to acquiring PagoPa in tandem with the Istituto Poligrafico e Zecca dello Stato, through a transaction estimated at EUR500 million.

Generali is moving towards a halt at Natixis. The key step will be the board meeting scheduled for Friday, December 19, which will decide whether or not to proceed with the alliance project. Meanwhile, the stock is up 0.2%.

Foreign markets remain at the center of UniCredit's growth strategy - down 0.1% - as confirmed by the meeting in Munich of the joint steering committee with Alpha Bank. The partnership between UniCredit and Alpha began in 2023 with the merger of their respective subsidiaries in Romania and the creation of the AlphaLife insurance and pension products joint venture, 51% controlled by the Italian group.

Campari and Leonardo led the gains with 2.8% and 1.3%, respectively.

In the Mid-Cap segment, MFE-MediaForEurope is expanding internationally once again. After entering the German ProSiebenSat.1, it is now arriving in Portugal with the acquisition of 32.9% of Impresa SGPS, a group controlled by the Balsemão family. Class A shares are up 0.2%, while Class B shares are down 0.1%.

Ascopiave, which has signed a preliminary purchase agreement for the acquisition of 100% of the share capital of Società Impianti Metano for EUR 46.0 million, is up 0.8%.

Fincantieri continues to experience a difficult period on the stock market, having lost 24% in the last month but rising 1.0% today to EUR17.64. The US Navy has changed its plans for the USD22 billion Constellation program, which had been signed by the previous administration, but has guaranteed Fincantieri new orders for smaller ships and cash compensation.

Avio rebounded to the top with purchases of 4.6% at EUR 25.00.

In the small-cap sector, Brioschi Sviluppo Immobiliare announced that its subsidiary Milanofiori Sviluppo has accepted the sale proposals received from a number of professional institutional investors for all 73,769 shares still held in the Fleurs Fund, worth EUR 13.1 million. The stock is up 0.3%.

Somec gained 5.2% to EUR14.30 per share. Met.Extra Group saw sales of 7.3% to EUR1.79 per share.

Among SMEs, Metriks AI - up 1.3% - completed the closing of the acquisition of 100% of Systema's share capital. The acquisition of 100% of Systema involves the transfer of the entire share capital to Metriks for a total consideration of EUR 500,000.

Casta Diva Group approved a reserved capital increase of up to a maximum of EUR 967,200, including share premium. The transaction involves the issue of up to 620,000 new multiple-voting shares at a unit price of EUR 1.56. The stock rose 2.3%.

Banco di Desio e della Brianza - down 0.5% - announced a voluntary cash tender offer for all shares of Solutions Capital Management SIM - currently not traded - with the aim of accelerating growth in Wealth Management and integrating SCM's multi-family office model, expanding services and solutions for high net worth clients. The maximum value is EUR10.3 million.

First Capital recorded purchases of 5.9% at EUR 21.20 per share.

In New York last night, the Dow Jones gained 0.7% to 47,427.12 points, the Nasdaq rose 0.8% to 23,214.69, while the S&P 500 rose 0.7% to 6,812.61.

In Asia, the Nikkei closed up 1.3% at 50,195.00, the Shanghai Composite gained 0.3% to 3,875.26, and the Hang Seng advanced 0.1% to 25,947.50.

On the currency front, the euro is trading at USD 1.1592 from USD 1.1599 at Wednesday's stock market close, while the pound is trading at USD 1.3225 from USD 1.3233 last night.

Among commodities, Brent crude traded at USD 62.39 per barrel, down from USD 62.44 per barrel at Wednesday's close, while gold was worth USD 4,164.10 per ounce, up from USD 4,163.06 per ounce last night.

Thursday's economic calendar opens at 1000 CET with the Italian business and consumer confidence index, and at the same time, the M3 money supply index, which measures the value of all currencies and liquid assets held in the Eurozone, will be published.

At 1100 CET, the focus will shift to Italian industrial sales, and at the same time, the spotlight will be on Eurozone consumer confidence and inflation expectations. At 1110 CET, there will be an auction of Italian BTPs with maturities of five and 10 years.

Starting at 1600 CET, the US will release its report on housing and durable goods.

On the Italian stock exchange, Ubaldi Costruzioni's nine-month results are expected.

By Michele Cirulli, Alliance News Reporter

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