Bearish stock exchanges; Hera among the few bullish ones

(Alliance News) - On Friday, the Mib closed bearish for the third consecutive session, placing the point bar in the 27,700 area, and tagging along with other European exchanges, due to growing concerns over the likely prolonged aggressive monetary policy by the Federal Reserve and increased credit risks in China after real estate giant Evergrande filed for bankruptcy in a U.S. court.

Among the day's economic data, as released by Eurostat on Friday, the Eurozone's annual inflation rate stood at 5.3 percent in July, down from 5.5 percent in June. A year earlier, it stood at 8.9 percent. European Union annual inflation was 6.1 percent in July, down from 6.4 percent in June. A year earlier, the rate was 9.8 percent.

In contrast, consumer price inflation in Japan slowed to 3.1 percent year-on-year in July, in line with market expectations, according to government data released Friday.

Thus, the FTSE Mib is down 0.4 percent to 27,761.98, the Mid-Cap is giving up 0.5 percent to 41,284.34, the Small-Cap closed down 0.6 percent to 26,720.41, while Italy Growth is giving up 0.3 percent to 8,854.38.

In Europe, Paris' CAC 40 closed down 0.4 percent, Frankfurt's DAX down 0.7 percent, as did London's FTSE 100.

On the main index of Piazza Affari, in an almost competitively bearish list, Hera advanced 1.2%, rearing its head again after four bearish sessions.

Good purchases were also made on Terna, which rose 0.5 percent, after two sessions closed at a loss.

At the bottom, however, sits Monte dei Paschi di Siena, down 4.0% in its fourth bearish session in a row.

Also going under is Saipem, which marks a minus 2.4% with price at EUR1.43 after last night's timid gain of 0.4%.

Rear-ends also for Ferrari, which loses 1.6%. Of note Bernestein raised its target price on the stock to EUR300 from the previous EUR250.

Tenaris, on the other hand, gives up 0.1%, despite announcing that it has entered into a definitive agreement to acquire from Mattr 100% of the shares of its subsidiary Bredero Shaw International, which holds control of the pipe coating business worth USD166 million including working capital, on a cash-free and debt-free basis, subject to customary price adjustments.

On the Mid-Cap, among the few bullish performers is Eurogroup Laminations, which trades plus 1.4 percent at EUR5.43 after two sessions in the red.

Also doing well is MutuiOnline, which marks a plus 1.8%, rearing its head again after five sessions closed among the bearish.

Tod's, at the other end of the list, marks a decline of 2.6 percent, repeating eve's red with 2.0 percent.

Alerion, on the other hand, gives up 3.1 percent, trailing with new price at EUR26.65 per share after 0.2 percent green on eve.

Sales and rear ends also on Brunello Cucinelli, which marks a minus 1.8% repositioning its price in the EUR72.40 area.

On the Small-Cap segment, high quarters for Basicnet, which ranks bullish with 2.3 percent after a 0.6 percent decline on eve.

Giglio Group, on the other hand, marks a plus 9.8 percent at EUR0.62 after eve's contraction with 2.4 percent.

On the other side of the list Autostrade Meridionali gives up 1.3% to EUR15.00 in its third session on the downside.

Rear-ends also for Fidia, which gives up 5.8 percent after eve's gain of 4.9 percent.

Among SMEs, Datrix advances with 5.0% after two sessions ended among the bearish.

Good performance also for Circle, which takes home an asset of 4.3% after three bearish trending sesssions.

At the tail end E-Globe marks a minus 5.4%, with price at EUR1.60 per share, in its fourth session in a row on the bearish side.

Intred, on the other hand, advanced 0.4 percent, in its fifth session closed on the upside.

Circle closed up 4.3 percent, after three sessions on the bearish side. The company on Wednesday disclosed the signing of a new contract with a leading European multimodal operator to support the development of innovative digital - including airport - and customs services. The value of the contract exceeds EUR510,000 and its duration is 18 months, with a clause for further automatic annual renewal.

In New York, the Dow Jones is giving up 0.1 percent, the S&P is down 0.2 percent, and the Nasdaq is contracting 0.7 percent.

Among currencies, the euro is changing hands at USD1.0875 against USD1.0872 on Thursday in closing European equities while the pound is instead worth USD1.2738 from USD1.2746 on Thursday evening.

Among commodities, Brent crude is worth USD84.37 per barrel versus USD84.85 per barrel at Thursday night's close. Gold, on the other hand, trades at USD1,892.00 an ounce from USD1,893.90 an ounce Thursday night.

On Monday's economic calendar, at 0315 CEST, will come the Central Bank of China's decision on the main interest rate while, at 0800 CEST, Germany's producer price index will be released.

In the US, at 1730 CEST, an auction of three- and six-month Treasury bonds is scheduled.

On the corporate calendar in the Piazza Affari, no particular event is scheduled.

By Maurizio Carta, Alliance News reporter

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