(Alliance News) - Piazza Affari closed higher on Tuesday's session, with investors remaining on tenterhooks waiting to hear and decisions from the Federal Reserve and Bank of England that will come between Wednesday evening and Thursday morning.
Axel Rudolph, senior market analyst at IG, said, "All eyes are on the Fed's rate decision on Wednesday, with the central bank expected to keep rates stable. However, comments regarding its future policy path will be closely monitored. Another rate hike by the end of the year is not out of the question as higher oil prices are likely to increase inflationary pressures."
The FTSE Mib closes in the green 0.6 percent to 28,757.63, the Mid-Cap rises 0.1 percent to 40,659.68, as does the Small-Cap to 26,336.33, and Italy Growth gives up 0.6 percent to 8,575.22.
In Europe, London's FTSE 100 rises 0.1 percent to 7,660.20, Paris' CAC 40 is in fractional green at 7,279.39and Frankfurt's DAX 40 gives up 0.5 percent to 15,656.35.
On the main list in Piazza Affari, Banca Monte dei Paschi di Siena closed 6.4 percent higher, followed by Telecom Italia and Banco BPM, up 3.2 percent and 2.5 percent, respectively.
Banca Mediolanum - up 0.5 percent - announced Tuesday that Gianluca Bosisio, current general manager of the Italian parent company, will serve as chief executive officer of its Spanish subsidiary Banco Mediolanum SA and Igor Garzesi, current chief executive officer of Banco Mediolanum SA, will assume the position of general manager of the Italian parent company - Banca Mediolanum, reporting directly to CEO Massimo Doris.
Assicurazioni Generali - in the green by 1.4 percent - announced Monday that rating agency Fitch has raised its rating on Generali's Insurance Financial Strength to 'A+' from 'A,' with a Stable outlook.
The agency also raised its Issuer Default Rating to 'A' from 'A-'.
Saipem advances 0.7 percent after the start of trading in Vienna of the EUR500 million senior unsecured equity-linked bond maturing in 2029 issued last Sept. 11.
DiaSorin and Moncler hurt, down 5.0% and 0.4%. Of note, on Moncler's stock, RBC cut its target price to EUR62.00 from EUR64.00.
On the Mid-Cap, Credito Emiliano -- up 1.9% -- placed a new bond on Monday, aimed at institutional and professional investors, in the amount of EUR500 million. The issue, in the Senior Preferred format will go to support social sustainability activities and highlights the group's commitment to ESG, the company points out in a note. The transaction has garnered market interest with orders of around EUR1 billion, which is substantially twice the offering.
Webuild--declining 0.4 percent--reported Monday that it is planning a roadshow to present a possible fixed-rate senior bond to investors.
Proceeds from the new bonds will be used to refinance part of the EUR500.0 million bonds due in October 2024 and EUR750.0 million due in December 2025.
Maire Tecnimont -- in the green by 0.3 percent -- on Monday announced that it is known that the Commission de Surveillance du Secteur Financier of the Grand Duchy of Luxembourg has approved the prospectus for the public offering of Maire bonds to 2028. Specifically, this is a non-convertible bond for up to EUR200 million, with a maturity of five years and a minimum fixed interest rate of 6 percent pa. The minimum denomination that can be subscribed is EUR1,000 and the issue price is 100 percent of par value.
On the Small-Cap, KME Group--down 0.4 percent--reported in the evening that the board of directors approved the half-year report as of June 30 reporting a consolidated profit of EUR21.2 million from EUR6.7 million in the same period last year.
Revenues amounted to EUR1.07 billion from EUR1.03 billion in the same period last year. Net of raw materials, revenues rose 52 percent to EUR348.2 million from EUR229.0 million.
The board of directors of Aeffe -- in the red by 0.6 percent -- on Monday announced that the deed of merger by incorporation of its wholly owned subsidiary Moschino was signed today to take effect Oct. 1, 2023.
Itway gives up 1.6 percent. The company announced Monday that its subsidiary 4Science Spa, which is consolidated in Itway's financial statements and specializes in the Big Data, Digital Repositories and Data Management Systems market, reported first-half revenues at EUR1.7 million, up 37 percent from the same period in 2022 when they were EUR1.2 million, and Ebitda at EUR121,708 from EUR201,182 in the first half of 2022. However,the company posted a loss of EUR49,880, from a profit of EUR30,607 in the same period last year, pushed down by a 40 percent increase in personnel costs.
Among SMEs, Askoll EVA loses 4.8 percent after announcing Monday that it has concluded a EUR100,000 deal with Città di Leonia cooperativa sociale to supply 35 electric scooters that will be deployed in the Neapolitan municipalities of San Giorgio a Cremano, Portici and Ercolano, in sharing mode, where Askoll EVA is landing for the first time.
Almawave gives up 0.6 percent after learning Tuesday that it, along with subsidiaries Almaviva Digitaltec and Digital Hub, has signed the "OncologIA" program contract with the Region of Puglia.
This is, the company explained in a note, an industrial research and experimental development project, co-financed by the Puglia Region through the European Regional Development Fund, that applies innovative IT technologies in the medical oncology field.
Growens leaves 0.9 percent on the parterre. On Monday, it announced that it had reviewed and approved the consolidated half-year situation as of June 30, which closed with a decrease in revenues of just under 5 percent in the first half, to EUR35.6 million compared to the first half of 2022, when it was EUR37.4 million, "due to the contraction of revenues in the CPaaS division, in deference to the strategic line of focusing on margins," the company wrote in the released note.
In New York, the Dow is down 0.7 percent to 34,388.72, the Nasdaq is down 0.9 percent to 13,590.84 and the S&P 500 gives up 0.7 percent to 4,424.43.
Among currencies, the euro changes hands at USD1.0690 versus USD1.0689 in Monday's European equities close, while the pound is worth USD1.2402 from USD1.2394 on Monday evening.
Among commodities, Brent crude is worth USD95.16 per barrel versus USD94.73 per barrel at Monday's close. Gold, meanwhile, trades at USD1,934.41 an ounce from USD1,927.49 an ounce on Monday evening.
Wednesday's macroeconomic calendar opens with Japan's trade balance data, at 0150 CEST, followed by China's central bank's preferred interest rate, at 0315 CEST.
In Europe, eyes on UK consumer and producer price inflation, at 0800 CEST, to ACEA data on EU car registrations and production in the Eurozone construction sector, at 1100 CEST.
From the U.S., eyes will be on mortgages, whose data will arrive at 1300 CEST, and crude oil, with inventory numbers to be released at 1630 CEST. The day closes with the most anticipated moment, namely the Federal Reserve's decision on rates, which will be released at 2000 CEST, with a press conference by the chairman, Jerome Powell, to follow half an hour later.
Among the companies in the Piazza Affari whose accounts are expected to be released on Wednesday, worth mentioning are Mediobanca, OVS and Digital Magics, among others.
By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter
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