Futures await cautious lists ahead of ECB decision

(Alliance News) - On Thursday, major European stock markets are expected to be in positive territory, except for the CAC 40 in Paris, on the day when all eyes are on the ECB's interest rate decision.

Thus, IG futures give the FTSE Mib in the green by 0.1 percent or up 27.5 points after closing down 0.4 percent at 28,481.77.

Paris' CAC 40 is expected to be in the fractional red or down 2.2 points, Frankfurt's DAX 40 is given in the green by 0.1 percent or up 21.0 points, London's FTSE 100 is expected to be up 13.3 points or 0.2 percent.

Among other listings in Milan on Wednesday, the Mid-Cap closed down 0.3 percent to 41,086.54, the Small-Cap up 0.5 percent to 26,649.14, and Italy Growth down 0.9 percent to 8,670.58.

In macroeconomic news, industrial production in Japan fell 1.8 percent monthly in July, compared to flash data of a 2.0 percent decline and after a final 2.4 percent growth in the previous month. This was the third decline since the beginning of the year.

From Australia, the seasonally adjusted unemployment rate stood at 3.7 percent in August, unchanged from July's three-month high and in line with market expectations, according to data released Thursday by the Australian Bureau of Statistics.

Back in Milan, on the main index in Piazza Affari, Banca Monte dei Paschi di Siena was confirmed at the top with 2.9 percent.

Then did well the energy A2A, in the green by 2.0 percent, while BPER Banca with an asset of1.7 percent closed the podium. The latter, together with Intesa Sanpaolo -- in the red by 0.5 percent -- and Homepal, made it known that they have formed a strategic and commercial partnership to create "a real estate operator that will aim to enhance and develop activities in real estate, a sector in which the companies have concluded about 10,000 real estate purchase and sale transactions since launch."

The initial investment by Intesa Sanpaolo and BPER Banca will total EUR15 million, to enhance services and communication.

On the Mid-Cap, Salcef Group finished 1.5 percent in the red. It reported Wednesday morning that group companies recently signed contracts totaling EUR105 million with domestic clients.

El.En. gave up 4.6 percent after announcing Tuesday evening that, as of June 30, it reported consolidated sales of EUR345.6 million up 6.0 percent from EUR326.9 million as of June 30, 2022. Group net income was EUR25.8 million down 9.3% from EUR28.4 million in the first half of 2022.

Tamburi Investment Partners rose 0.6 percent after reporting a pro forma half-year profit at the consolidated level of EUR64.7 million up sharply from EUR24.2 million in the same period last year.

Maire Tecnimont -- in the green by 0.4 percent -- reported Tuesday that its board of directors approved the issuance of a fixed-rate, unrated Senior Unsecured Sustainability-Linked Non-Convertible Bond for a minimum of EUR120 million and a maximum of EUR200 million.

Seco gave up 0.1 percent after half-year results that showed a profit of EUR10.0 million up from EUR6.8 million in the same period a year earlier.

Adjusted net income rose to EUR12.6 million from EUR8.6 million, an increase of more than 46 percent.

Brembo lost 0.4 percent. SGL Carbon and Brembo have agreed to expand the production capacity of the Brembo SGL Carbon Ceramic Brakes joint venture, a statement announced Tuesday.

The two companies, together with BSCCB itself, have defined the project that will lead the JV to invest about EUR150 million until 2027 to expand production activities by more than 70 percent at its sites in Meitingen, Germany, and Stezzano, Italy.

On the Small-Cap, SAES Getters gained more than 13 percent. On Tuesday it reported consolidated half-year revenues of EUR122.3 million, up 1.7 percent from EUR120.2 million in the first half of 2022.

Consolidated gross industrial profit stood at EUR53.5 million, up 0.5% from EUR53.2 million as of June 30, 2022

In addition, the company received a favorable opinion from the Federal Trade Commission on the transaction to sell the Nitinol business for medical applications to the U.S. company Resonetics.

Esprinet rose 5.8 percent after finishing the day at the tail end with a 21 percent drop. Tuesday's board ah reported adjusted half-year profit fell 65 percent to EUR6.4 million from EUR18.3 million in the same period last year.

In the coming days the parties will define the technical modalities and timing for reaching the closing of the transaction.

Giglio Group advanced 1.0 percent after its half-yearly report approved Tuesday, in which it reported a near breakeven result--a loss of EUR30,000--a strong improvement from a loss of EUR252,000 in the first half of 2022.

Revenues were down, to EUR15.7 million from EUR19.6 million in the same period last year.

Among SMEs, Circle climbed 2.8 percent after announcing Tuesday that it achieved a first-half value of production up 35 percent to EUR7.0 million from EUR5.2 million in the same period of 2022.

Italia Independent Group divested 27 percent after announcing Tuesday evening that it had entered into a sale and purchase agreement with M Group, which controls Alessandro Lanaro's Modo Group, to sell the "Italia Independent" brand, owned by its subsidiary Italia Independent Spa, for EUR1 million.

The sale of the trademark is in the context of the activities envisaged by the restructuring agreements reached with the creditors of IIG and I-I, and also includes a commitment by the company to change its corporate name and that of its subsidiary company to words other than "Italia Independent."

TMP Group sold 7.3 percent. The company announced Tuesday evening that it had signed a strategic agreement with contracted revenues for TMP Group worth EUR500,000, which will be invoiced by the end of the year.

The partnership was signed with INDI Agency, a Milan-based company started in 2023 by experienced entrepreneurs with the aim of providing the value chain with a new and unique Communication, Sustainability and Innovation Hub, the company specified in a note.

Finanza.tech gave up 6.1 percent after it closed on top with an 18 percent rise following Tuesday's approval of its half-year report as of June 30, which shows a strong growth trend, with a triple-digit increase in net income to EUR804,464 from EUR330,588 in the first half of 2022.

Consolidated revenues amounted to EUR7.5 million from EUR2.1 million, also up triple digits from H1 2022.

In Asia, the Nikkei gives up 0.2 percent to 32,706.52, the Hang Seng is in the green by 0.2 percent 18,040.22, and the Shanghai Composite gives up 0.2 percent to 3,117.48.

In New York on Wednesday, the Dow Jones closed in the red 0.2 percent at 34,575.53, the S&P finished up 0.1 percent at 4,467.44, while the Nasdaq closed in the green 0.3 percent at 13,813.59.

Among currencies, the euro changed hands at USD1.0745 against USD1.0743 in Wednesday's European equities close, while the pound was instead worth USD1.2499 from USD1.2499 on Wednesdayevening.

Among commodities, Brent crude is worth USD92.42 per barrel versus USD92.14 per barrel at Wednesday's close. Gold, on the other hand, trades at USD1,928.40 an ounce from USD1,935.05 an ounce Wednesday evening.

On Thursday's economic calendar at 0830 CEST the Swiss producer price index for August is released.

At 1415 CEST it is the ECB's turn with monetary policy statements and interest rate decisions. At 1430 CEST there will be a press conference.

Overseas, at 1430 CEST are data on unemployment claims from the US, the producer price index and retail sales.

At Piazza Affari, the half-year results of Bialetti Industrie, I Grandi Viaggi, Integrade System Credit Consulting Fintech, Italian Wine Brands, LVenture, Next Re, Sesa and Softec are expected.

By Claudia Cavaliere, Alliance News reporter

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