Indices down except in Mib; Saipem on top

(Alliance News) - Major European stock markets open lower Tuesday except for the Mib, with caution dominating investor sentiment ahead of Thursday's European Central Bank meeting.

Also coming in the next few hours are Eurozone manufacturing inflation data for January and PMIs from major European countries including Italy, whose GDP is also expected.

Thus, the FTSE Mib opens in the green 0.1 percent to 32,938.830, the Mid-Cap rises 0.3 percent to 46,082.43, the Small-Cap gives up 0.2 percent to 27,820.70 while Italy Growth is up 0.2 percent to 8,225.74.

In Europe, Paris' CAC 40 gives up 0.1 percent, London's FTSE 100 is in the red 0.4 percent while Frankfurt's DAX 40 is down 0.2 percent.

On the Mib, Saipem opens up 2.3 percent after closing up 4.9 percent and is doing better than all, followed by Banca Monte dei Paschi di Siena and Mediobanca, up 1.6 percent and 1.5 percent.

DiaSorin is in the fractional red. The company announced that it has received 510(k) clearance from the U.S. Food and Drug Administration for its new Liaison Plex platform and its first test panel, the Liaison Plex Respiratory Flex Assay.

Liaison Plex expands and consolidates DiaSorin's position in the syndromic multiplexing market, which has a global value of about USD2.9 billion and is estimated to grow to about USD4 billion by 2027.

Banco BPM advances 0.5 percent after announcing that it purchased 905,286 of its own ordinary shares on March 4.

The shares were taken over at an average price of EUR5.5231 and for a total consideration of EUR5.0 million. The company also announced that it had concluded its buyback plan.

Inwit -- in the green by 0.2 percent -- and Fiera Milano -- up 0.2 percent on the Small-Cap -- announced Monday that they have approved a strategic partnership that will make the Rho and Milan exhibition hubs a "Smart City."

The 15-year agreement will provide Inwit with the exclusive management and technological development of all passive infrastructures supporting mobile telecommunications at the exhibition center in Rho and the Allianz MiCo in Milan, covering a total area of more than 551,000 square meters, according to the released note.

On the cadet segment, Banca Popolare di Sondrio opens up 0.3 percent after announcing Monday the launch of a cash repurchase offer of its fixed-rate subordinated bond with a total outstanding nominal amount of EUR200.0 million maturing on July 30, 2029.

The bank also announced the issuance of a fixed-rate bond called "EUR5.00 billion Euro Medium Term Note Program," intended for institutional investors in Italy and abroad excluding the US.

Piaggio -- in the green by 0.1 percent -- announced Monday that it had posted a net profit of EUR91.1 million in 2023, up 7.3 percent from EUR84.9 million in 2022. This is, the company pointed out, "the best result ever." The board will also propose a dividend balance of 8 cents per share, bringing the total dividend to 20.5 cents per share, up from 18.5 cents a year earlier.

Digital Value - flat at EUR59.60 - and Teradata, a leading company in data warehouse solutions, announced Monday their strategic partnership for the Italian market, which includes an agreement to market Teradata's Datawarehouse and Analytics solutions, exclusively for the Finance and Public Administration sectors.

Webuild and Brembo were at the top, up 4.1 percent and 1.9 percent, respectively.

On the Small-Cap segment, KME Group, in the red by 1.4 percent, announced Monday that its subsidiary KME has signed a contract regarding the acquisition of 100 percent of the shares of Blackhawk Holding, a German holding company that owns 100 percent of Sundwiger Messingwerk.

The expected price of the acquisition will be about EUR62 million including metal stock and will be paid for EUR41 million at closing and the remainder through a three-year interest-free vendor loan.

Geox--declining 0.8 percent--reported Friday that the group had revenues of EUR719.6 million in 2023, down 2.2 percent from EUR735.5 million in 2022, but up 0.3 percent at constant exchange rates. Fourth quarter results were lower than the previous year with revenues from sales reaching EUR138 million, down 17% at current exchange rates.

Netweek and Bologna's Guglielmo Marconi Airport did well, up 2.9 percent and 2.6 percent.

Among SMEs, Ulysses Biomed is not yet affected by trading. The company announced Monday that it has signed, through its Hyris subsidiary, a partnership agreement with Generon for the use of certain Hyris proprietary solutions.

Relatech -- in the green by 1.0 percent -- announced Monday it had welcomed Nieco -- New Ecological Initiatives -- into DESK Membership, a long-term partnership that, in the name of innovation and digital evolution, makes available a suite of services guaranteed by the Relatech ecosystem.

Deodato.Gallery is still not trading. The company announced Monday a new art experience at Crazy Pizza London.

Thanks to a partnership with Deodato.Gallery, from March 5 to 10 Crazy Pizza London will pay homage to the father of Pop Art with an exhibition that includes some of Andy Warhol's most iconic works, from the famous portraits of Marilyn Monroe, the famous Campbell's Soup and the vibrant Flowers.

Tweppy--flat at EUR0.98--reported Friday that the board of directors approved some preliminary management figures for Dec. 31 reporting a value of production of EUR1.6 million, down about 17 percent from EUR1.0 million realized in 2022.

Revenues from sales and services as of December 31 were EUR1.7 million, down about 4.3 percent from the same period last year of EUR1.8 million

In Asia, the Nikkei closed fractionally in the red at 40,097.63, the Shanghai Composite finished in the green by 0.3 percent at 3,047.79 and the Hang Seng closed down 2.6 percent at 16,162.64.

In New York, the Dow gave up 0.3 percent to 38,989.83, the Nasdaq lost 0.4 percent to 16,207.51, and the S&P 500 finished down 0.1 percent to 5,130.95.

Among currencies, the euro changed hands at USD1.0851 against USD1.0859 recorded in Monday's European stock close, while the pound is worth USD1.2678 from USD1.2696 on Monday evening.

Brent crude is worth USD82.52 per barrel versus USD83.25 per barrel at Monday's close. Gold, meanwhile, trades at USD2,119.14 an ounce from USD2,116.67 an ounce last night.

On Tuesday's macroeconomic calendar, at 1100 CET, for the Eurozone, it will be the turn of the producer price index.

From the US, coming up is the services PMI at 1545 CET, at 1600 CET space is given to factory orders, and at 2230 CET eyes on the weekly oil stocks figure.

Among the companies in Piazza Affari, data from Acea, Ariston Holding, Banca Generali, Brembo, Maire Tecnimont and Promotica are expected.

By Chiara Bruschi, Alliance News reporter

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