Mib down, financial stocks weigh.

(Alliance News) - Piazza Affari closed lower on Friday, with the financial sector weighing on the main index of the Italian Stock Exchange.

The financial sector is in turmoil amid the nine-month accounts of the sector's blue chips and the news of Banco BPM's takeover bid for Anima Holding, which shifted the focus to the resurgence of companies in the sector, with eyes now on Amundi's moves on Allianz Global Investors.

The FTSE Mib closed Friday down 0.5 percent to 33,816.58, the Mid-Cap lost 0.1 percent to 46,838.54, the Small-Cap fell 0.6 percent to 27,760.80, and Italy Growth gained 0.1 percent to 7,819.57.

In Europe, London's FTSE 100 closed down 0.9 percent, Paris' CAC 40 gave up 1.1 percent and Frankfurt's DAX 40 lost 0.7 percent.

On the highest-capitalization list in Piazza Affari, Banca Monte dei Paschi di Siena did well, up 3.1 percent after announcing Friday its first nine-month results showing a profit of EUR1.57 billion from EUR929 million in the same period 2023, up 69 percent.

Net interest income for the nine months is EUR1.77 billion from EUR1.69 billion and up 4.7% from 2023.

Reverses course Nexi, down 0.6% after a positive start and after reporting its results for the first nine months of the year in the morning, reporting total revenues of EUR2.57 billion, up 5.6% from EUR2.44 billion in the same period of 2023.

On the other hand, Pirelli did well, rising 2.8 percent. The company ended the first nine months with revenues of EUR5.18 billion, up just 0.5 percent year-on-year.

In the third quarter alone, Pirelli posted revenues of EUR1.74 billion from EUR1.72 billion in the same period a year earlier.

Unipol fared worse, losing 6.1 percent at the end of the day. The company reported Friday that it closed the first nine months of the year with a consolidated net profit of EUR724 million from EUR769 million in the first nine months of 2023.

Also trailing the list was Iveco Group, down 3.9 percent, while BPM gave up 2.4 percent. BPER Banca is also bad, in the red by 4.4 percent.

Recordati falls 1.1% after ending the first nine months with adjusted net income of EUR445.4 million, up 9.5% from EUR406.6 million in the same period a year earlier.

Revenues amounted to EUR1.74 billion, up 12 percent from EUR1.56 billion in the first nine months of 2023.

The company resolved to distribute an interim dividend 2024 of EUR0.60 per share. In addition, the board of directors resolved to initiate a new share buyback program for up to 1.5 million ordinary shares for a maximum consideration of EUR90.0 million.

On the Mid-Cap, BFF Bank gained 2.0 percent after reporting Thursday that it improved its accounts for the first nine months, with net book profit up 65 percent year-on-year to EUR189.9 million from EUR115.0 million.

Net interest income rose to EUR291.1 million from EUR194.5 million and net interest and other banking income increased to EUR366.9 million from EUR269.9 million.

Technoprobe did well, up 0.8 percent. The company announced Wednesday that it had completed its buyback program, taking over 5.0 million of its own ordinary shares for EUR34.7 million.

Profit taking on Anima Holding - down 1.0% - after gains in recent sessions following news of the takeover bid by Banco BPM.

Fincantieri lost 0.1% after announcing Friday that it had finalized an agreement with Crystal to build a new high-end cruise ship.

Banca Ifis fared poorly, giving up 1.6 percent. The bank reported Thursday that it closed the first nine months of the year with a consolidated net profit of EUR126.6 million from EUR124.7 million as of Sept. 30, 2023.

Net income for the period stood at EUR531.8 million from EUR512.4 million from the first nine months 2023.

It remains at the bottom of the list Safilo Group -- down 1.4 percent -- after it reported Thursday that it closed the first nine months of the year with revenues of EUR757.4 million from EUR785.1 million as of Sept. 30, 2023.

Banca di Desio e della Brianza -- at parity at the end of trading -- reported Thursday that it closed the nine months with consolidated net income of EUR116.4 million from EUR225.7 million as of Sept. 30, 2023.

On the Small-Cap, Banca Profilo gave up 1.1 percent after it reported that it closed the first nine months of the year with consolidated net revenues of EUR53.0 million, down 6.8 percent from EUR56.9 million as of Sept. 30, 2023.

Consolidated net income is also down, down 32 percent to EUR7.2 million from EUR10.6 million in the first nine months 2023.

Servizi Italia -- up 0.4 percent to EUR2.37 -- reported Thursday that it closed the first nine months of the year with a profit of EUR5.1 million, down from EUR5.8 million in the same period of 2023.

Of note was the drop in Softlab, which closed down 8.6 percent to EUR0.80.

Among SMEs, Eprcommunication is flying with a 22 percent rise. The company announced Friday that it won the tender for press office services for Jubilee 2025 activities and initiatives.

Ecosuntek - up 2.8 percent - announced Friday the completion of the merger by incorporation of its wholly owned subsidiary, Independent Eco System Srl.

Up 1.3 percent is Eurocommercial Properties, which announced Friday that it had reprojected overall retail sales growth of 2.3 percent for the nine months to the end of September over 2023 and 3.1 percent for the third quarter alone.

In New York, the Dow is up 0.7 percent to 44,047.91, the Nasdaq falls 0.1 percent to 19,243.58, and the S&P 500 rises 0.4 percent to 5,994.56.

Among currencies, the euro changes hands at USD1.0740 from USD1.0811 on Thursday in closing European equities. The pound is worth USD1.2930 versus USD1.2998 last night.

Among commodities, Brent crude is worth USD73.80 a barrel from USD74.91 a barrel Thursday night. Gold trades at USD2,691.16 an ounce from USD2,697.96 an ounce last night.

Monday's macroeconomic calendar opens with Japan's loan data, due at 0050 CET, while no special events are expected from the Eurozone and the US.

Among companies in Piazza Affari, results from A2A, Mediobanca, RCS and doValue, among others, are expected.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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