(Alliance News) - On Thursday, Piazza Affari does better than futures forecasts and opens bullish above 35,900. Paris and Frankfurt, which were expected to be on the parity threshold, are in positive territory. Without momentum the London Stock Exchange.

"In Europe, the Stoxx 600 reached a new all-time high yesterday, gaining 4.0 percent since the beginning of the year and outperforming the S&P500's 3.6 percent return on hopes that U.S. tariffs on Europe will be less severe than expected," comments Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

"The convergence between the stock markets of Europe and the U.S. seems favored by the valuation gap and expectations of more support from the European Central Bank than the Fed," the expert says.

Thus, the FTSE Mib is up 0.2 percent at 35,933.74, the Mid-Cap is in fractional red at 49,002.74, the Small-Cap is in green by 0.2 percent at 28,106.89 while Italy Growth advances 0.1 percent to 7,798.38.

London's FTSE 100 is in fractional green, Paris' CAC 40 is up 0.1 percent, and Frankfurt's DAX 40 is up 0.2 percent.

On the highest-capitalization list in Piazza Affari, Hera does best of all at the opening and advances 1.6'%. The company reported on Thursday that its board of directors reviewed its 2024 pre-consolidation data and approved its business plan to 2028, which calls for gross five-year investments of EUR5.1 billion, a return on net invested capital at 9.5 percent, structural growth in EBITDA to EUR1.7 billion, and profit growth of about 6 percent on average per year.

The dividend is expected to grow 21 percent--up to 17 cents per share--and average annual yield of about 5 percent, with average annual total return to shareholders at 11 percent.

Net debt to EBITDA ratio is expected to remain stable below 3x over plan period, projected at 2.8x in 2028.

Intesa Sanpaolo - up 0.6 percent - was recognized as the only Italian bank, first in Europe and second globally among the world's 100 most sustainable listed companies by Corporate Knights' ranking, presented at the World Economic Forum in Davos.

Saipem - up 0.2 percent - announced that shareholders Eni - in the red by 0.4 percent - and CDP Equity have tacitly renewed the shareholders' agreement regarding a 25 percent stake in its share capital, Il Sole 24 Ore reported Thursday.

Snam - in the green by 1.3 percent - announced Wednesday that it had approved its new strategic plan to 2029, which features the largest investments in the company's history and amounts to EUR12.4 billion. Looking at financial data, the company expects a RAB of 6.4 percent thanks to new investments, the effect of inflation, and the integration of assets such as Edison Stoccaggio, the Ravenna FSRU, and CCS assets.

Telecom Italia--down 0.6 percent--reported Wednesday that the board of directors ascertained positive developments in negotiations with the Ministry of Economy and Retelit regarding the bid for Sparkle.

UniCredit opens in the green by 1.1 percent. The Italian bank's possible acquisition of Commerzbank remains uncertain amid political obstacles and internal resistance within the German bank, as Milano Finanza writes Thursday. UniCredit CEO Andrea Orcel said the success of the deal depends on the support of the future German government.

In the red at the start of trading was Stellantis, which gave up 1.0 percent after it announced the extension of the layoff at its Atessa plant, where it produces commercial vehicles.

The company led by John Elkann also announced significant changes to its production plans in the US. As Milano Finanza writes Thursday, the plan calls for the creation of 1,500 jobs and the reopening of the plant in Belvidere, Illinois, to produce a new midsize pickup truck by 2027.

Among the bearish, Ferrari retreats 1.2 percent and sits at the bottom, while Buzzi gives up 0.7 percent.

On the Mid-Cap, Italian Sea Group leads the early rises, advancing 1.4 percent. On the other side of the list, Technoprobe gives up 1.5 percent.

BFF Bank opens in fractional green. On the stock it is reported that Marshall Wace cut its short position up to 0.48% from 0.55% previously.

Brembo - down 0.3% - signed a 10-year agreement with Axpo Polska, a subsidiary of the Swiss Axpo Group, to supply 1 TWh of electricity from renewable sources destined for its production plants in Poland.

De' Longhi--down 0.1 percent--reported Wednesday that it bought back 62,416 of its own ordinary shares between Jan. 16 and Jan. 17, for a total consideration of EUR2.0 million.

On the Small-Cap, Avio and Trevi Finanziaria Industriale pick up 2.0 percent. AbitareIn does better, ahead 2.5% to EUR4.45 per share.

Fidia gives up 3.2%, touching a 52-week low on Monday.

Bestbe Holding's stock is suspended after a theoretical rise of 10% at the open.

Among SMEs, iVision Tech--green by 9.4 percent--reported Thursday that it has been awarded a patent for iSee, a wearable assistive technology designed for the blind and visually impaired.

Mevim, in the green by 4.3 percent, and Valtecne, up 3.1 percent, did well.

Grifal - up 2.4 percent - reported Thursday that preliminary consolidated revenues for fiscal year 2024 amounted to EUR37.7 million, "confirming the 2023 figure thanks to a second half of the year up 2 percent compared to the first half and almost 4 percent compared to the corresponding 2023 period," the statement said.

Renovalo - flat at EUR2.28 per share - announced Wednesday that it has signed a binding agreement to take over the entire capital of GI General Impianti Srl, a company active in the construction of civil and industrial technological plants on its own and for third parties. Renovalo will take over 60 percent of GI from shareholders Angelo Finelli, Gerardo Somma and Carmine D'Amelio, for EUR520,000 paid today plus 70 percent of the transfer price net of funds paid Wednesday, and the remaining 30 percent will be paid in four half-yearly installments.

Xenia Hôtellerie Solution -- in negative balance of 0.7 percent -- on Wednesday presented its business plan to 2028 and its preliminary results for 2024, which saw turnover for the year stand at EUR57.2 million, registering a 14 percent increase from EUR50.2 million in 2023. Ebitda was EUR2.5 million, down 46 percent from the previous year, a result impacted by extraordinary costs related to M&A and corporate reorganization.

At the bottom of the alternative list, Planetel and Askoll EVA, left over 4.0% on the parterre.

In Asia, the Nikkei closed up 1.6% at 39,646.25, the Shanghai Composite finished 0.9% in the red at 3,213.62, and the Hang Seng fell 0.4% to 19,700.56.

In New York last night, the Dow advanced 0.3 percent, the Nasdaq closed in the green by 1.3 percent, and the S&P 500 up 0.6 percent.

Among currencies, the euro changed hands at USD1.0396 versus USD1.0421 in Wednesday's European stock close. In contrast, the pound is worth USD1.2299 from USD1.2323 on Wednesday evening.

Among commodities, Brent crude is worth USD79.17 per barrel from USD79.10 per barrel at Wednesday's European stock close. Gold trades at USD2,761.51 an ounce from USD2,758.73 an ounce last night.

On Thursday's economic calendar from the US, data on unemployment claims are due at 1430 CET, while at 1700 CET US President Donald Trump will give a speech.

At 1800 CET, from the US, the EIA report and Cushing's inventory, while at 2230 CET it will be the turn of the Federal Reserve's weekly balance sheet.

On the corporate calendar in Piazza Affari, Aeffe's accounts are scheduled.

By Antonio Di Giorgio, Alliance News reporter

Comments and questions to redazione@alliancenews.com

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