Indices contrasted; Saipem tops on Mib.

(Alliance News) - Mid-session European indexes are mixed on Monday, with investors maintaining a cautious attitude as they await the data that will mark the week.

The FTSE Mib is down 0.7 percent to 30,165.58, the Mid-Cap gives up 0.6 percent to 45,208.17 as does the Small-Cap to 27,673.85 while Italy Growth is in fractional green at 8,300.95.

In Europe, London's FTSE 100 rises 0.2 percent, Paris' CAC 40 is in fractional green while Frankfurt's DAX 40 gives up 0.5 percent.

Among the few macros of the day, Italy's trade surplus with non-EU countries more than doubled in December compared to that of the same month last year, Istat reported on Monday.

December's extra-EU trade surplus was EUR9.34 billion compared to EUR4.01 billion a year earlier.

On the Mib in the Italian stock market, few stocks managed to trade above par. Saipem, Eni and Tenaris advance 1.8 percent, 1.6 percent and 0.4 percent.

Leonardo, Iveco Group and Assicurazioni Generali are also doing well, with gains between 0.6% and 0.3% while Ferrari is in fractional green.

Poste Italiane - in the red by 2.1 percent - announced Thursday that it has approved plans to merge Address Software Srl, whose share capital is wholly and directly held by Poste Italiane itself.

"The operation is aimed at standardizing, evolving and engineering the processes of operation of the group's technology platforms as well as streamlining and rationalizing the operating structure; this is also in order to achieve a reduction in the characteristic costs of each corporate structure as well as to realize the consequent improvement in the group's economic results," the company explained in a note.

Hera - in the red by 0.9 percent - announced Thursday that its subsidiary Herambiente Servizi Industriali has entered into a binding agreement to purchase 70 percent of Piacenza-based TRS Ecology, to which the business unit pertaining to TRS Ecologi's multi-purpose platform for the treatment of special waste located in Caorso (PC) has been contributed.

Also hurting is STMicroelectronics - in the red by 0.9 percent -, which reported Thursday that it had revenues of USD4.28 billion in the fourth quarter of the year, down 3.2 percent from USD4.42 billion in the same period of 2022. Gross profit amounted to USD1.95 billion down 7.3 percent from USD2.10 billion in the fourth quarter of 2022.

Snam, on the other hand, drops 1.9 percent after approving its 2023-2027 strategic plan. The company aims to achieve an increase in adjusted Ebitda of 7.4 percent on average per year, from about 7 percent in the previous plan. It also expects adjusted net income with growth of about 4 percent on average per year, up from 3 percent in the previous plan, "despite more onerous interest rates," the released note said.

Nexi, on the other hand, gives up 2.7 percent FinecoBank closes in the red by 5.3 percent. Of note, JPMorgan cut its target price to EUR13.40 from EUR14.50 with the stock 'neutral'.

On the Mid-Cap, Digital Value is up 5.8 percent followed by D'Amico, in the green by 3.1 percent. Cementir Holding, up 2.2 percent, closes the podium.

Also among the bullish minority is Salvatore Ferragamo--up 1.5 percent--which reported Thursday that preliminary revenues for 2023 stand at EUR1.16 billion from EUR1.25 billion in the previous year and therefore down 7.6 percent. The retail distribution channel as of December 31 reports net sales down 11 percent from 2022 and wholesale sales down 12 percent on the previous year.

De' Longhi - in the red by 1.6 percent - reported preliminary revenues in the first 12 months of 2023 of EUR3.1 billion, down slightly by 2.7 percent from the same period last year. As for the fourth quarter, preliminary revenues stood at EUR1.02 billion, up 4.6 percent on the same period a year earlier.

On the Small-Cap, Italian Exhibition Group gives up 2.3 percent after closing up 7.9 percent following Thursday's approval of the 2023-2028 Strategic Plan, which calls for 2028 revenues of EUR323 million, adjusted Ebitda of EUR90 million and a Net Financial Position of EUR3.0 million. Over the entire plan period, IEG anticipates a EUR172 million investment plan and dividends between EUR16 and EUR21 million.

The board of directors of Aeffe -- up 0.7 percent -- on Thursday approved preliminary sales figures for fiscal year 2023, which closed with consolidated revenues of EUR319 million, down 9.0 percent at constant exchange rates and 9.5 percent at current exchange rates, compared to EUR352 million in 2022.

Among SMEs, ESI's stock remains on top up 17 percent. On Friday it announced the signing of a framework agreement with a leading institutional investor.

The agreement concerns the technological modernization of photovoltaic plants located in Italy, with a total capacity of 60 MWp. The amount of the order, amounting to about €23.40 million, will be for the two-year period 2024-2025.

Racing Force rises 2.0 percent. The company announced Monday that it has entered into a partnership with Aston Martin Aramco Formula One Team in which the Italian company becomes the new official racewear supplier for the British team at the start of the FIA Formula One World Championship.

ICF Group gives up 1.3 percent after announcing Friday that it viewed preliminary figures for 2023, in which revenues stood at around EUR80 million, down from EUR88 million in 2022.

Adjusted Ebitda for the period is estimated to be EUR8.8 million, up from EUR7.8 million in the year 2022.

Simone is down 1.5 percent. The company announced Friday that Global Coordinator Integrae SIM Spa has exercised in full the Greenshoe Option granted by parent company Giunima Srl for a total of 75,000 ordinary shares.

The Greenshoe Option was exercised at a price of EUR2 per share, the same as the placement price, for a total consideration of EUR150,000. The free float, taking into account the full exercise of the Greenshoe Option, is now 27.63 percent, as a percentage of the total number of ordinary shares, excluding multiple voting shares.

Marzocchi Pompe -- up 2.0 percent -- reported Thursday that during fiscal year 2023, consolidated net revenues stood at EUR49.8 million, up 2.6 percent from the 2022 figure of EUR48.5 million. The figure represents an all-time high achieved by the group.

In New York on Friday, the Dow closed up 0.2 percent at 38,109.43 the Nasdaq finished 0.4 percent in the red at 15,455.36 and the S&P 500 closed just below par at 4,890.97.

Among currencies, the euro changed hands at USD1.0818 against USD1.0862 recorded at Friday's European stock close, while the pound was worth USD1.2697 from USD1.2716 on Friday evening.

Brent crude is worth USD83.70 per barrel versus USD81.96 per barrel at Friday's close. Gold, on the other hand, trades at USD2,026.43 an ounce from USD2,018.32 an ounce Friday night.

On Monday afternoon's calendar, French BTF auctions will be held at 1455 CET while the Dallas Fed PCE index will come out of the US at 1500 CET.

By Chiara Bruschi, Alliance News reporter

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