(Alliance News) - On Wednesday, European markets -- according to the IG platform futures market -- are expected to open lower, with sentiment turning negative after a brief rally in yesterday's session, while already in the early hours of the European morning U.S. equity futures are also showing a slightly bearish trend.
Trading rooms await Thursday's release of U.S. inflation data for December for further clues on the state of the economy and the path of rate cuts by the Federal Reserve.
In recent weeks, traders have increased their positions on a Federal Reserve turnaround, preparing for rate cuts as early as March. Some of these expectations have been scaled back in recent days, although the odds are around 63 percent, according to CME Group's FedWatch tool.
Thus, the FTSE Mib marks a loss of 60.00 points, after closing in the red by 0.2 percent at 30,408.78 last night.
In Europe, Paris's CAC 40 is giving up 21.90 points, London's FTSE 100 is surrendering 25.10 points, and Frankfurt's DAX 40 is stepping back 40.10 points.
Among the smaller lists on Tuesday, the Mid-Cap advanced 0.4 percent to 44,435.28, the Small-Cap gave up 0.3 percent to 28,011.61, while Italy Growth rose 0.1 percent to 8,284.21.
On the main list of Piazza Affari last night, Pirelli placed the flag at the top with a 4.3 percent rise on the heels of the eve's gain that closed with a plus 3.0 percent.
Moncler, on the other hand, rose 1.3%, following up on the plus 2.5% with which it ended Monday's session.
Brunello Cucinelli gave up 0.3 percent. On Monday it reported figures for 2023, a year that ended with revenues of EUR1.14 billion, up 24 percent from 2022, when they were EUR919.7 million. Among geographic areas, the Americas grew by 21 percent, Europe by nearly 17 percent while Asia recorded a growth delta of 40 percent. Among distribution channels, retail increased by 30 percent while wholesale improved by 13 percent.
Banks remained among the worst performers. BPER Bank gave up 3.8 percent. Before the bell rang, BPER Banca reported that, following the conclusion of book-building activities, it successfully completed a EUR500 million Additional Tier 1 bond issue with perpetual maturity and callable "callable" from the fifth year.
The bonds, intended for institutional investors, were placed at par with a fixed coupon of 8.375% until July 16, 2029, payable semi-annually; if the bank decides not to exercise the early redemption option, the coupon would be recalculated on the basis of the 5-year euro swap rate, as measured at the time of the recalculation date, increased by a spread of 595 bps and would remain fixed for the next 5 years, until the next recalculation date.
Banco BPM also hurt, in the red by 4.9 percent, following up on the 0.7 percent decline on the eve. It should be noted, however, that the stock was previously coming off a five-session bearish streak.
On the Mid-Cap, Saras brought home a green of 2.9%, rearing its head after two sessions closed among the bearish.
Rai Way stock equally advanced with 2.9 percent, on the heels of the eve's gain that closed green by 0.6 percent.
Anima Holding -- in the red by 0.7 percent -- on Monday reported that the group's net inflows of assets under management in December -- excluding class I insurance proxies -- were positive by EUR277 million, bringing the 2024 total to a negative EUR171 million. At year-end, total assets under management by the Anima group stood at EUR191.5 billion.
Suffering - also on this list - from the banking sector. Banca Ifis in fact left 2.1 percent on the parterre, reversing the bullish mini-trend that lasted three sessions.
Prevalence of sales - among others - also on illimity Bank, which closed down 2.1 percent after the eve's red with 0.4 percent.
On the Small-Cap, closed at the top is Autostrade Merididionali with a rise of more than 10 percent, marking its third consecutive bullish candle.
Good buys also on Pininfarina, which appreciated 2.3 percent following the 0.3 percent green of the previous session.
Aeroporto Guglielmo Marconi Di Bologna closed in the money by 1.2 percent. The company reported that it definitely surpassed pre-pandemic traffic levels in 2023 and recorded the best year in its history, reaching close to 10 million passengers. In detail, the airport recorded nearly 10 million passengers, representing a growth of 17 percent over 2022 and 6.0 percent over 2019.
Instead, algoWatt closed flat at EUR0.3040. The company disclosed that the Court of Milan upheld the appeal for the company's admission to the "conditional" arrangement procedure. The court also appointed Carlo Pagliughi and Vincenzo Tartaro as judicial commissioners and set March 4 as the deadline for submitting a final proposal for an arrangement with creditors or an application for approval of debt restructuring agreements.
Piquadro--down 1.4 percent--reported Monday consolidated sales figures for the first nine months ended Dec. 31, which amounted to EUR131.5 million, up 3.7 percent from consolidated sales as of Dec. 31, when they were EUR126.8 million.
Among SMEs, SolidWorld Group climbed more than 21 percent after announcing Tuesday that it has received a complete new order for the patented Electrospider platform from a prestigious hospital institute in Lausanne, Switzerland, collaborating with the one in New York that had already issued a major order for the product in 2023.
Instead, G-Rent rose 6.6 percent, after two sessions closed higher.
Neosperience - down 0.8 percent - reported Tuesday that in the last days of December two research and development projects submitted at the time to the Ministry of Economic Development were finally approved by the Court of Accounts.
Ilpra - in the red by 0.4 percent - announced Monday that it had opened a new sales subsidiary in Daejeon, South Korea. As the company explained, "the further strengthening of the presence in foreign markets is part of a policy of strengthening the group in geographic areas considered strategic and with high growth potential as well as a strengthening of the sales network aimed at increasing commercial activities and, consequently, market share."
CleanBnB - in the red by 4.9 percent - on Monday reported that its board of directors reviewed some management data for fiscal year 2023, in which it recorded strong growth in its property portfolio, which reached 2,422 units from 1,597 at the end of 2022, distributed in more than 70 Italian locations and managed exclusively, mostly under the "FULL package" formula of full management.
Italia Independent, on the other hand, gave up 6.7 percent, bringing the monthly balance to a 33 percent loss.
In New York on the European night, the Dow Jones gave up 0.4 percent, the S&P gave up 0.2 percent, and the Nasdaq picked up 0.1 percent.
Among Asian exchanges, the NIkkei rallied 2.0 percent, the Hang Seng is giving up 0.9 percent, while the Shaghai Composite retreats 0.5 percent.
Among currencies, the euro changes hands at USD1.0929 against USD1.0926 recorded at Tuesday's European stock close while the pound is worth USD1.2693 from USD1.2710 last night.
Brent crude is worth USD77.98 per barrel versus USD77.87 per barrel at Tuesday's close. Gold, meanwhile, trades at USD2,027.83 an ounce from USD2,029.24 an ounce last night.
On Wednesday's macroeconomic calendar, at 1000 CET, will come the Italian retail sales data while, at 1110 CET, a 12-month BOT auction is scheduled.
At 1300 CET, the US mortgage market report will be released, followed at 1600 CET by wholesale trade data. This will be followed at 1630 CET by the EIA refinery count and the Cushing inventory. At 1900 CET, an auction of Treasury securities with a 10-year maturity is scheduled instead. Also of note is the speech by FOMC member Williams, which will be held at 2115 CET.
Among the companies in the Italian stock market, no particular announcements are expected.
By Maurizio Carta, Alliance News reporter
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