(Alliance News) - On Friday, the Mib continued trading upward, with the point bar pointing to 31,100, as trading rooms try to position themselves as best they can on what will be the timing of rate cuts by major central banks.
In this regard, Boston Fed President Susan Collins said that the central bank is carefully evaluating the evolving data and outlook and that Eccles Building remains well positioned, adding that it will be appropriate to begin easing policy later this year.
Markets currently discount a less than 20 percent probability of a Fed rate cut in March, down sharply from the two-thirds probability observed earlier in the year.
On the domestic front, industrial production in Italy returned to growth on a monthly basis and fell at a lower pace on a year-over-year basis in December, Istat reported Friday. This rose 1.1 percent on a monthly basis in December after falling 1.3 percent in November, with the latter figure revised up from the initial 1.5 percent decline.
The FTSE Mib, therefore, is advancing 0.1 percent to EUR31,104.38, with a put/call ratio of 0.74.
In Europe, London's FTSE 100 is in fractional green, Paris' CAC 40 is giving up 0.2 percent, and Frankfurt's DAX 40 is just above par.
Among the smaller lists, the Mid-Cap is flat at 45,282.56, the Small-Cap is giving up 0.1 percent to 27,320.52 while Italy Growth is in the red 0.2 percent to 8,111.19.
On the main list of Piazza Affari, Iveco Group -- up 6.5 percent -- approved results for the 2023 financial year, which closed with an adjusted net profit of EUR352 million from EUR127 million in 2022. The board plans to propose to the company's shareholders the payment of an annual dividend of EUR0.22 per ordinary share, totaling about EUR59 million.
High quarters also for Leonardo, which moves ahead 2.9 percent after two sessions closed among the bearish.
Interpump also does well, advancing a more modest 1.4 percent to EUR42.80, rearing its head after four sessions among the bearish.
Banco BPM -- bullish with 0.5 percent -- reported Thursday that it ended 2023 with a net profit of EUR1.26 billion, up 85 percent from EUR685.0 million a year earlier. In the fourth quarter alone, the bank posted a net profit of EUR321.1 million, which compares with EUR319.0 million in the previous quarter.
On a negative note, list minority, A2A is giving up 2.0 percent with price at EUR1.67 per share, following five bearish daily candles.
Marked selling also on Hera, which is down 2.4% to EUR3.05 per share following the 0.8%decline in the previous session.
On the MidCap, Credito Emiliano is advancing 2.0% to EUR8.67 per share. The bank ended 2023 with a net profit of EUR562.1 million, which compares with a net profit of EUR326.1 million in 2022. The sharp increase in net income prompted the bank's board to propose the distribution of an annual doubled dividend of EUR0.65 compared to EUR0.33 paid last year.
Leading the list, however, is Saras, up double digits bullish with more than 13 percent and new price at EUR1.88.
Cementir Holding - down 6.9 percent - reported Thursday that it ended 2023 with revenues of EUR1.69 billion, down slightly from EUR1.72 billion in 2022.
Anima Holding - in the red by 1.7 percent - is heading for its third session to close bearish. The company reported Wednesday that it achieved negative net assets under management of EUR470 million in January, which compares with positive inflows of EUR34 million in January 2022. Total assets under management exceed EUR191 billion against EUR182.4 billion in January 2023, up 4.8 percent.
On the SmallCap, Beewize is advancing more than 12 percent, with new price to price at EUR0.5, after the previous session's 1.9 percent green.
Giglio Group, meanwhile, is advancing 5.4%, to a new 52-week high at EUR0.45 per share.
Banca Profilo's board of directors -- flat at EUR0.2050 -- on Thursday evening reviewed preliminary individual and consolidated figures as of December 31, 2023, reporting a net profit of EUR12.1 million, up 8.9 percent year-on-year or EUR1.0 million from last year's result. Total customer deposits, including net fiduciary deposits, stood at EUR6.0 billion compared to EUR5.6 billion as of Dec. 31, 2022.
At the tail end, Fidia marks minus 4.5 percent to EUR0.4210 per share, heading for its third session to close on the bearish side.
Among SMEs, H-Farm is moving ahead 7.2%to EUR0.1190, rearing its head after two bearish sessions.
Aton Green Storage is advancing 2.8%, with new price at EUR6.62 per share after two sessions ended in the red.
Good trades also on Health Italia, which appreciates 3.8 percent. The stock - which has been missing the ex-dividend since 2019 - on a monthly basis increased its market cap by about 24 percent.
At the tail end, in a still uneventful list Askoll Eva is giving up 4.9 percent to EUR0.2890, updating its 52-week low and heading for its third session to close among the bearish.
Caribbean Company, on the other hand, gives up 4.1 percent, after the eve's green close of plus 1.7 percent.
In New York on European night, the Dow rallied 0.1 percent, the Nasdaq closed in the green by 0.2 percent while the S&P 500 finished just above par.
Among currencies, the euro changed hands at USD1.0768 against USD1.0764 recorded at Thursday's European stock close while the pound was worth USD1.2609 from USD1.2612 last night.
Brent crude is worth USD81.57 per barrel versus USD81.13 per barrel at Thursday's close. Gold, on the other hand, trades at USD2,032.03 an ounce from USD2,028.64 an ounce Thursday night.
On Friday's economic calendar, the unemployment rate is expected from Canada in the afternoon at 1430 CET.
Among the companies in Piazza Affari, the accounts of Buzzi Unicem and Banca Sistema are expected.
By Maurizio Carta, Alliance News reporter
Comments and questions to redazione@alliancenews.com
Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.
