Indices reverse course, Unipol does well on Mib.

(Alliance News) - Piazza Affari reversed course in mid-session Tuesday, although it still remained close to parity at the turnaround.

On the macro front, of note, seasonally adjusted output in the construction sector rose 0.8 percent in the eurozone from a 0.4 percent decline and 1.3 percent in the EU, following a 0.5 percent drop in the EU.

In December, compared to the same month in 2022, output in the construction sector increased 1.9 percent in the eurozone from a decline of 1.9 percent and 2.4 percent in the EU, from still a decline of 1.9 percent.

In Italy, Istat estimates that the seasonally adjusted index of production in construction rose 4.4 percent from November, the statistics agency reported Tuesday.

On a year-on-year basis, in December, the crude index increased 2.6 percent while the calendar-adjusted index rose 9.9 percent.

Overall for 2023, the crude index fell 0.7 percent while the calendar-adjusted index showed a decline of 0.1 percent when comparing with 2022.

The FTSE Mib is up 0.1 percent to 31,704.99, the Mid-Cap is tied at 45,497.22, the Small-Cap leaves 0.2 percent at 27,619.12 on the parterre while Italy Growth is in the red 0.3 percent to 8,121.54.

In Europe, Paris' CAC 40 is up 0.3 percent to 7,793.13, London's FTSE 100 is up 0.1 percent to 7,732.54 while Frankfurt's DAX 40 gives up 0.2 percent to 17,055.42.

On the Mib does best of all Unipol, up 2.3 percent. The company reported Friday that it had posted a profit increase to EUR1.33 billion in 2023 from EUR866 million a year earlier.

Following strong 2023 figures, the company decided to raise the dividend to EUR0.38 from EUR0.37 a year earlier.

Reversing its early rise Leonardo, which now gives up 0.3%, while A2A does well, up 1.0% within minutes of the release of its 2023 accounts.

Stellantis is just below par after reporting January sales data. The company boosts them in the month, in line with the positive trend in European market performance, where registrations grew 12 percent year-on-year.

The merged PSA Groupe and Fiat Chrysler Automobiles giant posted a 17 percent increase over January 2023, with market share rising to 18 percent in January from 17 percent in January 2023.

Terna is essentially flat after announcing on Monday that 23 interventions for the development of the national electricity transmission grid have been authorized by the Ministry of Environment and Energy Security and the relevant regional departments during 2023, with a total value of more than EUR3 billion in investments, up 20 percent from EUR2.5 billion in 2022 and three times the 2021 figure.

On the bottom go Iveco Group, down 2.9%, and TIM, down 2.0%.

On the mid-cap, Juventus Football Club rises 0.2% after reporting Monday that it has fully repaid its EUR175.0 million bond, with a coupon of 3.375% and maturing today.

Interest on the Dublin-listed bond totaled EUR5.9 million.

Buzzi does well, up 1.9 percent, while Cementir Holding rises 0.1 percent.

Tinexta--in the red by 0.5 percent--announced Monday the creation of a new business line dedicated to strategic consulting that will assist corporate clients in defining their strategic directions and executing high-impact transformational projects. Tinexta's Group Chief Strategy Officer Aurelio Matrone is in charge of the project.

Among the small caps, FNM -- up 1.6 percent -- announced that it has signed the sale and purchase agreement to acquire 80 percent of the share capital of Viridis Energia, an independent power producer, from Lagi Energia 2006 and HNF, in execution of the binding offer signed on January 16.

With the acquisition, the FNM group enters the renewable energy generation sector and strengthens the environmental objectives of the strategic plan to 2025, which includes investments in innovative energy projects, further contributing to the goals of Agenda 2030 as well as to the country's energy transition, the company explained in a note.

BF -- up 0.3 percent -- announced Monday that it, along with its subsidiaries Consorzi Agrari d'Italia and SIS -- Società Italiana Sementi, has signed an investment agreement with Eni Natural Energies, a subsidiary of Eni.

Specifically, the investment agreement envisages ENE's investment in the share capital of SIS for a total amount of EUR25 million, after which ENE's shareholding will amount to about 17 percent; this investment will be realized through the subscription of a share capital increase of SIS reserved for ENE and the transfer to ENE of a share of SIS's share capital owned by CAI.

Among SMEs, SolidWorld Group gives up 1.0 percent after announcing Tuesday that 2023 revenues came in at EUR62 million, up 7.5 percent from the previous year, when they were EUR57.7 million, while the value of production amounted to about EUR66 million, up 8.4 percent on 2022, when it was EUR60.8 million.

Portobello -- in the red by 8.0 percent -- reported that it has completed the capital increase through accelerated bookbuilding that was launched Monday evening.

A total of 661,050 new ordinary shares were subscribed and, of the EUR6.0 million offered, EUR4.6 million of the aucap was subscribed, bringing the share capital to EUR1.0 million, divided into 5.3 million ordinary shares, for a free float of nearly 44%.

Impianti gives up 2.6 percent after announcing Monday that it won a EUR700,000 tender to supply 8,000 multimedia kits for a leading government agency.

In Asia, the Nikkei closed Tuesday down 0.3 percent to 38,363.61, the Shanghai Composite gained 0.4 percent to 2,922.73 and the Hang Seng rose 0.6 percent to 16,247.51.

In New York yesterday, markets were closed for President's Day.

Among currencies, the euro changed hands at USD1.0806 against USD1.0768 recorded in Monday's European stock close while the pound is worth USD1.2611 from USD1.2586 on Friday night.

Brent crude is worth USD82.94 per barrel versus USD83.35 per barrel at Monday's close. Gold, meanwhile, trades at USD2,026.55 an ounce from USD2,016.11 an ounce on Monday evening.

On the macro front, at 1115 CET, BoE number one Andrew Bailey will speak.

At 1430 CET, inflation data will come from Canada while, at 1730 CET, there will be an auction of three-month, six-month and 52-week Treasury bonds.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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