(Alliance News) - On Tuesday, the Mib closed just above parity, recovering in the late going, with the point bar in the 30,300 area and selling prevailing for most of the session, following statements by European Central Bank officials warning against premature expectations of imminent interest rate cuts.
At the World Economic Forum in Davos, French central bank governor Francois Villeroy de Galhau stressed that the ECB cannot yet declare victory over inflation. In turn, Austrian central bank governor Robert Holzmann advised against anticipating rate cuts this year due to escalating conflicts in the Red Sea contributing to inflationary pressures.
Thus, the FTSE Mib closed above par at 30,337.62, the Mid-Cap rallied 0.1 percent to 44,309.75, the Small-Cap closed 0.4 percent in the red at 27,584.21, while Italy Growth finished in a tie at 8,237.68.
In Europe, the CAC 40 in Paris gave up 0.3 percent, the FTSE 100 gave up 0.5 percent, and Frankfurt's DAX 40 left 0.4 percent on the parterre.
On the bullish side of the Mib, Mediobanca advanced 2.4 percent after opening slightly lower. On Monday it announced that it had successfully completed the placement of a new Tier 2 subordinated bond with a 10.25-year maturity - maturing in April 2034 - and a call option in April 2029, for a total amount of EUR300 million. The bank was also awarded the Financial Advisor mandate by Antares Vision, which drops 16 percent on the Small-Cap. In detail, the mandate involves analyzing the financial situation of the Antares Vision group and supporting it in identifying a strategy for its reorganization and optimization.
Ferrari, on the other hand, closed up 1.9 percent, with price at EUR319.10 per share after a 1.9 percent red on the eve of the meeting.
Saipem crossed the finish line in the green by 1.7 percent after reporting that the Algerian Supreme Court ruled in the criminal case initiated in December 2022 against the company in connection with its participation in a 2008 tender for competitive FEED studies related to the Rhourde Nouss QH project, confirming the company's acquittal.
Amplifon, on the other hand, gave up 3.1 percent, following up on the eve's decline that ended with minus 1.6 percent.
Stellantis--in the red by 1.1 percent--reported Friday that its venture capital fund, Stellantis Ventures, announced its stake as a strategic investor in Tiamat, a French company that develops and commercializes sodium-ion battery technology.
Marked sell-offs also on Interpump, which closed down 1.9 percent, following a 1.5 percent red on eve.
On the Mid-Cap, Salvatore Ferragamo closed the session down 3.4 percent at EUR10.90 per share.
Red also for Fincantieri, which posted minus 3.0%. On the stock it is mentioned that Helikon Long Short Equity Fund Master ICAV raised its short on the stock to 0.60% from 0.52%.
Iren gave up 0.1 percent after announcing Monday that it has issued an eight-and-a-half-year bond-the fifth green bond-of EUR500 million.
Saras, on the other hand, raised the bar 5.4%, with new price at EUR1.70 per share. Of note, Marshall Wace cut its short on the stock to 1.07% from 1.18%.
Good buying also on Lottomatica, which raised the bar by 4.4 percent, on which there is high trading volume. This, amounting to 1.4 million pieces changed hands, compares with the atre-month daily average of about 209,000.
On the Small-Cap, Sabaf took home 4.0 percent to EUR18.60 and touching during the session its new 52-week high at EUR18.70.
Also doing well was algoWatt, which closed bullish by 5.4%, showing up with a bullish candle for the third consecutive session.
FNM fell 0.2% after announcing Monday that it has decided to take over 80% of Viridis Energia Spa from Lagi Energia 2006 Srl and HNF Spa, which hold 55.7% and 33.3%, respectively.
Safilo Group gave up 0.9 percent after announcing Tuesday that it and Aeffe -- down 0.9 percent -- had proceeded with the early renewal of the global license agreement for Moschino and Love Moschino eyewear collections until December 2033.
Among SMEs, ESI rose 2.6 percent after announcing Monday that it has signed a contract with a leading multinational oil & gas company for the turnkey EPC construction of a new photovoltaic plant with a total capacity of 10 MWp in Piedmont. The contract amount of approximately EUR5.7 million will be accrued in fiscal year 2024.
Farmacosmo, on the other hand, rallied 4.5 percent, following the eve's green with 2.3 percent.
Omer climbed 3.8 percent after announcing Monday that it has signed a contract with Hitachi Rail to supply furniture components and fairings for 40 Frecciarossa ETR 1000 trains commissioned by Trenitalia. The value of the contract, the amount of which was not disclosed, "will contribute to the backlog in a percentage within a range between 15 and 20 percent," the company specified in a note.
Saccheria F.lli Franceschetti closed down 0.8 percent after announcing Tuesday that the board of directors reviewed operating revenues as of Dec. 31, in which they came in at EUR17.8 million from EUR23.2 million in the same period last year.
Among the U.S. stock markets, the Dow is giving up 0.5 percent, the S&P is retreating 0.2 percent, and the Nasdaq is giving up 0.1 percent.
Among currencies, the euro changes hands at USD1.0878 against USD1.0947 recorded in Monday's European stock close, while the pound is worth USD1.2659 from USD1.2728 last night.
Brent crude is worth USD78.46 per barrel versus USD78.35 per barrel at Monday's close. Gold, meanwhile, trades at USD2,033.83 an ounce from USD2,054.59 an ounce on Monday night.
Wednesday's economic calendar opens at 0300 CET with China's Gross Domestic Product, industrial production and unemployment rate.
At 0800 CET, will come the Consumer Price Index from the United Kingdom while at 1100 CET it will be the turn of Eurozone inflation.
At 1300 CET, eyes on the US mortgage rate report while, at 1430 CET, it will be the turn of the US retail sales figure. At 1515 CET, the industrial production figure is expected while at 1615 CET, ECB number one Christine Lagarde will speak.
Finally, at 2230 CET, from the US will come the data on weekly oil inventories.
On the corporate calendar in Piazza Affari, no special announcements are expected.
By Maurizio Carta, Alliance News reporter
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