Mib veers into red; MPS updates annual high

(Alliance News) - On Friday, the Mib, after starting in an active trend, veered downward, bringing the point bar for a few moments below the 34,000 area, reflecting a caution similar to that of most other European exchanges, as traders continue to assess higher-than-expected U.S. inflation data, and awaiting potential updates on Chinese stimulus measures over the weekend.

Thus, the FTSE Mib trades in the red 0.2 percent to 34,002.51, the Mid-Cap is in the green 0.3 percent to 46,645.95, the Small-Cap is in the red 0.1 percent to 28,183.20, and Italy Growth is up 0.2 percent to 8,090.13.

In Europe, London's FTSE 100 is in the red by 0.2 percent, Paris' CAC 40 is in fractional green, and Frankfurt's DAX 40 is in the green by 0.1 percent.

On the Mib, A2A advances 2.5 percent, bringing the price to EUR2.07 per share, on its sixth consecutive bullish candle. Of note, on the week Millennium International Management cut its short position on the stock to 0.49% from 0.56% previously.

Strength also on Banca Monte dei Paschi, which is rallying 1.8% to EUR5.27 per share. During the session, the stock updated a new 52-week high at EUR5.42 per share.

For Interpump Group, on the other hand, the rise is 0.8 percent to EUR40.84 per share, following a 1.4 percent red note in the previous session. Of note, UBS initiated a 'neutral' rating and EUR41.50 target price recommendation on the stock during the week.

Marked sales on Stellantis, which is giving up 3.8 percent to EUR11.74 but touching during the session a new low in the yearly frame at EUR11.60.

On the MidCap, LU-VE is advancing 4.1% to EUR28.10, on its sixth consecutive bullish candle.

Brembo - in the money with 3.4 percent - on Friday disclosed that it has signed an agreement with Tenneco, a company in the portfolio of funds managed by Apollo Global Management, to acquire 100 percent of the capital of Öhlins Racing, an expert in the production of premium high-performance suspension for motorcycles and cars in the original equipment, motorsport and aftermarket segments. Brembo explained in a note that this is the largest acquisition in its history. The consideration for the transaction is USD405 million-which corresponds to about EUR370 million at today's exchange rate-in the absence of cash or financial debt, and is subject to the usual adjustment mechanisms provided for similar transactions.

Strength also on Ferretti, which is up 1.5 percent, rearing its head after two bearish sessions.

In contrast, d'Amico, among the bearish minority, is giving up 1.5 percent after eve's flat session.

On the Small-Cap, Giglio Group is advancing 9.9 percent to EUR0.598, rebounding after five sessions closed with a negative balance.

Strength also on Bialetti Industrie, which is up 2.2% after three sessions closed with bearish candle.

KME Group, on the other hand, is advancing 2.1 percent to EUR0.9090 after the previous session's 1.3 percent red.

At the tail end, Aquafil is leaving 6.6 percent at EUR1.64 on the parterre, on the heels of eve's 4.1 percent loss. On Thursday, the shareholders' meeting approved a proposal to increase share capital by up to EUR40.0 million.

Sales - among others - also on Fidia, which marks a minus 5.6 percent, down for the third consecutive day.

Among SMEs, Alfonsino is pushing ahead more than 10 percent, in its third bullish session.

Adventure, meanwhile, marks plus 8.5 percent, with price at EUR19.20, a new 52-week high.

Eles - in the red by 0.7 percent - announced that it has initiated a new share buyback program for up to EUR1 million.

In New York on European night, the Dow closed 0.1% in the red at 42,454.12, the Nasdaq was down 0.1% at 18,282.05, and the S&P 500 was down 0.2% at 5,780.05.

Among currencies, the euro changed hands at USD1.0940 against USD1.0924 on Thursday in closing European equities while the pound was worth USD1.3072 from USD1.3046 on Thursday evening.

Among commodities, Brent crude is trading at USD78.80 per barrel versus USD78.20 per barrel at Thursday's European stock close. Gold, on the other hand, trades at USD2,637.82 an ounce from USD2,620.98 an ounce on Thursday evening.

On Friday's macroeconomic calendar, from the US, at 1430 CEST coming up is the Producer Price Index data. At 1900 CEST it will be the turn of the Baker Hughes plants report.

In the evening, at 2130 CEST, as usual on Friday, coming up the COT Report.

By Maurizio Carta, Alliance News reporter

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