(Alliance News) - Piazza Affari closed Thursday's session up, amid macro data and results from smaller-cap stocks and as traders analyze numbers from statistical offices to understand the next moves by central banks.
Chris Beauchamp, chief market analyst at IG, said, "Last week's one-way movement in the indices was broken this afternoon. European markets rose and Wall Street traders did a little bargain hunting as the end of the third quarter approaches. But concerns about rising oil prices and yields have not disappeared, and even signs of slightly weaker price growth in today's revised U.S. Gross Domestic Product were just a small crumb of comfort."
"Signs of progress in avoiding a U.S. government shutdown emerged overnight but the day saw opposing plans gain momentum, a sign of the wide rift between the two parties. Government shutdowns per se do not tend to trigger bouts of risk aversion but as part of a cocktail of other concerns such as rising oil prices could put more pressure on equities as the end of September gives way to October."
In Piazza Affari, the FTSE Mib closed Thursday up 0.5 percent to 28,163.03, the Mid-Cap rose 0.5 percent to 39,185.10, the Small-Cap fell 0.2 percent to 25,491.82, and Italy Growth fell 0.7 percent to 8,261.83.
In Europe, London's FTSE 100 closed up 0.1 percent, Paris' CAC 40 rose 0.6 percent as did Frankfurt's DAX 40.
On the main list in Piazza Affari, Pirelli lost 1.8 percent, with new price at EUR4.56 per share, in its sixth straight session on the downside.
Telecom Italia lost 2.5 percent after reporting that its board has granted KKR an extension to submit a binding bid for the network until October 15. KKR will submit a bid together with the Ministry of Economy, as previously announced.
Instead, Inwit retreats 1.1 percent, in its fourth straight session on the bearish side. On the stock it is mentioned that Barclays on Tuesday raised the target to EUR13.70 from EUR13.50 with 'overweight' title.
Still on the bearish side, Amplifon lost 1.7 percent.
Bullish thrust, on the other hand, on Saipem, which rose 0.8 percent on the back of the bullish trend - up more than 4 percent when considered on a weekly basis - in the price of a barrel and following up eve's 1.6 percent rise.
On the Mid-Cap, Danieli & C. - up 3.4 percent - reported that it closed the 2022-2023 fiscal year with revenues up year-on-year to EUR4.10 billion from EUR3.62 billion in the previous year. The stock fluctuated upward by 1.8 percent.
The board proposed the distribution of a dividend of EUR0.31 for ordinary shares -- worth a total of EUR11.6 million -- and EUR0.3307 for savings shares, worth EUR12.1 million. Last year, the company distirbuted a dividend of EUR0.2793 for savings shares and one of EUR0.30 for ordinary shares.
Banca Popolare di Sondrio rises 1.5% after three sessions among the bearish. Unipol - up 0.4 percent on the Mib - announced that it has successfully completed the purchase of 46.3 million ordinary shares in the bank, equal to about 10.2 percent of its share capital, through a reverse accelerated bookbuilding procedure aimed exclusively at qualified investors and foreign institutional investors.
The consideration for the purchase of shares under the RABB is EUR5.10 per share, for a total outlay of about EUR235.6 million. Settlement of the RABB will take place on October 2.
Badly Digital Value, which ranks at the tail end of the convoy giving up 6.0%, closing for the sixth session in a row on a bearish trend.
On the Small-Cap, Olidata lost 10 percent, down for the sixth session in a row.
Sales also on Bialetti, which is down 4.4% to EUR0.2860. On the stock it is mentioned that Bialetti Holding bought 315,000 ordinary shares in the company. The shares were taken over at an average price per share of EUR0.2830 or so, for a total value of EUR89,000 or so.
Trevi Finanziaria Industriale--up 0.2 percent--reported that it had approved the group's interim report, which closed with net income for the first half of the year of EUR23.6 million, compared with a net loss of EUR19.8 million in the first half of 2022. Revenues were EUR280.3 million compared to EUR236.1 million in the corresponding period of 2022.
Softlab's board of directors -- up 3.6 percent -- approved the half-year financial report as of June 30, which closed with a profit of nearly EUR1.5 million compared to EUR1.3 million a year earlier in the same period. Revenues amounted to EUR11.8 million, a figure that was almost stable on the previous year in the same period.
Among SMEs, good buys also on Pharmacosmo, which posted a plus 1.2 percent after three sessions closed among the bearish.
The board of Energy - down 4.0% - approved the half-year financial report as of June 30, which closed with a net profit of EUR5.5 million, or 14% of revenues, down from the same period in 2022 when it was EUR10.7 million, or 20.0% of revenues. Sales revenue was EUR39.3 million, down 26 percent, compared to EUR53.3 million in the first half of 2022.
Alfonsino's board -- down 2.8 percent -- approved the half-year financial report as of June 30, which closed with a net loss of EUR800,000 compared to the noted loss of EUR2.0 million in the same period last year. Revenues from sales and services stood at about EUR2.33 million, up 3 percent from June 30, 2023.
In New York, the Dow is up 0.2 percent to 33,623.63, the Nasdaq rises 0.2 percent to 13,120.36, and the S&P 500 gains 0.3 percent to 4,287.47.
Among currencies, the euro changes hands at USD1.0564 against USD1.0514 on Wednesday in closing European equities while the pound is worth USD1.2201 from USD1.2140 on Wednesday evening.
Among commodities, Brent crude is worth USD96.09 per barrel versus USD94.76 per barrel at Wednesday's close. Gold, on the other hand, trades at USD1,868.47 an ounce from USD1,885.51 an ounce on Wednesday evening.
Tomorrow's macro calendar--a day on which Chinese markets will be closed for the Mid-Autumn Festival--features Japan's Inflation and Retail Sales between 0130 CEST and 0150 CEST and Britain's Gross Domestic Product at 0800 CEST.
At the same time, eyes on Germany's retail sales, due out 45 minutes before French inflation. At 0955 CEST, focus on German unemployment and, five minutes later, Italy's non-EU trade balance and Spanish current account. Italy and Eurozone inflation will arrive at 1100 CEST, one hour before Italian industrial sales.
From the US, data on the trade bliance and PCE are due at 1430 CEST.
Also on Friday, some 60 results are expected at Piazza Affari, with Ambromobiliare, Borgosesia, Iniziative Bresciane and Itway releasing accounts, among others.
By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter
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