(Alliance News) - European stock markets opened slightly lower Friday, following losses in global markets, while warmer-than-expected U.S. consumer inflation data reinforced the view that the Federal Reserve will keep interest rates high for an extended period.
Later in the day, investors will also assess a range of economic data in the region, headlined by August Eurozone industrial production data expected in the late morning.
The FTSE Mib, therefore, opens in fractional red at 28,480.11, the Mid-Cap gives up 0.1 percent to 39,465.65, the Small-Cap is in the green 0.1 percent to 25,546.13 as Italy Growth at 8,047.80.
In Europe, London's FTSE 100 is in fractional green, Paris' CAC 40 gives up 0.1 percent, and Frankfurt's DAX 40 is in the red by 0.2 percent.
On the main list of the Italian stock exchange, Banca Monte dei Paschi di Siena, BPER Banca, and Banco BPM are at the top, picking up 3.8 percent, 3.3 percent, and 1.8 percent, respectively.
Banco BPM reported Thursday evening that DBRS Morningstar confirmed investment grade ratings and a Stable outlook for Banco BPM and its subsidiary Banca Akros Spa.
The long-term deposit rating remained 'BBB (high)', the long-term debt rating was left at 'BBB', the short-term deposit rating was left at 'R-1 (low)' and the short-term debt rating remained 'R-2 (high)' while the intrinstic assessment remained 'BBB'.
High quarters also for CNH Industrial which, up 1.1 percent, announced Thursday evening that it had completed the acquisition of Hemisphere GNSS, a world leader in satellite navigation technologies, for a total consideration of USD175 million.
The acquisition already announced last March 30, strengthens CNH's portfolio of precision, automation and autonomy technologies, opening new horizons toward further innovations in the agricultural and construction equipment segments.
In addition, CNH Industrial confirmed Thursday evening that it intends to conclude the sixth tranche of its USD300 million buyback program, with additional purchases amounting to approximately USD21.8 million.
The USD300 million buyback program had been announced on September 19, 2022, and was due to expire upon completion of purchases up to USD300 million or by October 12, whichever came first.
Assicurazioni Generali is in the fractional red. The company announced Thursday that it had reached an agreement with Allianz SE to sell TUA Assicurazioni Spa.
"The transaction is in line with the implementation in Italy of the group's strategic plan, 'Lifetime Partner 24: Driving Growth,' which envisages pursuing profitable growth, reducing complexity with the aim of making the operating machine more efficient and increasing diversification in the Non-Life segment," the soceity said.
ERG opens up 0.3 percent. The board of directors resolved Thursday to start a share buyback program for a maximum of about 3.7 million shares, or 2.5 percent of the share capital, with a maximum outlay of EUR100.0 million. As of today's date, the company holds 782,080 treasury shares, or 0.5 percent of the share capital.
At the bottom are DiaSorin, Campari, and Amplifon, with declines between 3.2 percent and 1.1 percent.
On the cadet list, Iren advances with 0.3 percent after announcing Wednesday that through its subsidiary Iren Ambiente Toscana it has finalized the acquisition of control of Semia Green, a company active in the circular economy. The remainder of the share capital is held by Sienambiente, already a shareholder of Semia Green and in which the Iren group has a 40 percent stake.
Salvatore Ferragamo is in the black by 0.3 percent. On Thursday it announced that it has been admitted to the collaborative compliance regime.
Admission to the regime, which takes effect as early as the 2022 tax period, was preceded by a review by the Internal Revenue Service of the adequacy of the tax governance adopted by the company and the internal control system for the detection, measurement, management and control of tax risk, called the Tax Control Framework.
Salcef Group -- up 1.3 percent -- made it known Thursday that it purchased 22,450 of its own ordinary shares in the period between Oct. 2 and Oct. 6.
The shares were taken over at an average price of EUR22.18 for a total value of EUR497,992.98.
On the Small-Cap, Pierrel opens at par after closing up 8.0 percent. The company on Thursday announced that the Petrone family's key shareholder Fin Posillipo, in agreement with Bootes of vice chairman Rosario Bifulco, has launched a total public offering aimed at delisting Pierrel. The tender offer is for cash at EUR1.75 per share on the 13.69 percent free float, for a maximum expected outlay of EUR13.158 million. As of today Fin Posillipo already holds 75.63% of the shares, Bootes 10.68%.
Softlab takes the top spot with a 6.4 percent rise, followed by Servizi Italia and Brioschi, in the green by 4.4 percent. Servizi Italia announced Tuesday that it has signed a contract with Steris Spa to acquire a business unit of the latter deputed to decontamination and sterilization services.
The price of the deal, which is estimated to be effective by December, has been set between the parties at EUR2.7 million and will be financed through available resources.
Among SMEs, CleanBnB rises with 4.2 percent after announcing Thursday night that it posted revenues of EUR31.1 million in the first nine months of the year, up 57 percent from EUR19.8 million in the same period a year earlier.
Vimi Fasteners is still not trading. The company reported Thursday that it posted revenues of EUR44.7 million in the first nine months of the year, up 13 percent from EUR39.5 million in the same period a year earlier.
Tenax International is not yet trading. The company reported Thursday that its year-to-date machine turnover is EUR12.3 million, with a machine order book of EUR13 million.
Therefore, in light of turnover to date and expected deliveries by the end of the year, the company expects to end 2023 with machine turnover of EUR20.1 million, which-if confirmed as per the production plan-would represent 124 percent of the 2022 machine turnover of EUR16.2 million.
Ecomembrane - which still does not price - announced Thursday the completion of the sale of its shares in Alvus Srl and Favus Srl to VORN Bioenergy GmbH.
The company also announced that it has reached an agreement with VORN to establish the framework conditions for the supply of components and the installation of at least six biomethane plants that VORN-or its affiliates-will develop and build in Italy during the contract period until Dec. 31, 2027.
EdiliziAcrobatica -- up 0.7 percent -- reported Thursday that it had signed 18,590 contracts in the first nine months of the year, up from 12,149 in the same period in 2022, a growth of 53 percent. This result also reflects the growth in the number of customers, which registered a 78 percent increase.
In Asia, the Nikkei closed down 0.6 percent to 32,289.50, the Hang Seng was down 2.3 percent to 17,845.00, and the Shanghai Composite closed down 0.6 percent to 3,088.14.
In New York on European night, the Dow closed 0.5 percent in the red at 33,631.14, the Nasdaq gave up 0.6 percent to 13,574.22, and the S&P 500 finished down 0.6 percent to 4,349.61.
Among currencies, the euro changed hands at USD1.0539 against USD1.0551 recorded at Thursday's European equities close, while the pound was worth USD1.2196 from USD1.2212 on Thursday evening.
Among commodities, Brent crude is worth USD87.17 per barrel from USD86.45 per barrel at Thursday's close. Gold, on the other hand, trades at USD1,878.60 an ounce from USD1,872.45 an ounce Thursday evening.
Friday's macroeconomic calendar includes a speech by Bank of England Governor Andrew Bailey at 1000 CEST. At 1100 CEST, it will be the turn of Eurozone industrial production.
In the afternoon, from the US, focus on import and export price indexes, at 1430 CEST.
At 1500 CEST, a speech by ECB number one, Christine Lagarde, is scheduled, while from the US, at 1930 CEST, it will be the turn of the Baker Hughes mining rig count report.
In the serara, as usual on Friday, at 2230 CEST, the COT Report will be released.
On the corporate calendar in the Piazza Affari, no special events are scheduled.
By Chiara Bruschi, Alliance News reporter
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