Euopee expected in red; focus on new U.S. duties

(Alliance News) - On Thursday, major Eurozone indexes are expected to fall, according to IG futures, in the wake of yesterday's losses on Wall Street and affected by the announcement of new U.S. tariffs on auto imports.

President Donald Trump announced the introduction of 25 percent tariffs on all cars not manufactured in the U.S., with the stated goal of boosting the domestic auto industry.

The new measures will go into effect on April 2.

European Commission President Ursula von der Leyen condemned Trump's announcement, pointing out that such duties further aggravate transatlantic trade tensions.

The FTSE Mib is given in the red by 1.0 percent or down 385.0 points after closing Wednesday in the red by 0.8 percent to 39,058.10.

In Europe, London's FTSE 100 is given down 0.4 percent or 32.3 points, Paris' CAC 40 is listed down 0.8 percent or 63.6 points, and Frankfurt's DAX 40 is expected to be down 1.1 percent or 245.3 points.

In Milan last night, the Mid-Cap closed in the red 0.3 percent to 50,943.49, the Small-Cap gave up 0.6 percent to 28,947.53, while Italy Growth advanced 0.2 percent to 7,908.73.

Back in Milan, boost on di Leonardo, which rallied 1.5% with price at EUR45.94 after a 1.0% gain on the eve.

Strength also on Brunello Cucinelli, which finished by picking up 2.1% to EUR110.10 per share, following eve's green with 0.8%.

Moody's and S&P Global Ratings affirmed the long-term ratings assigned to Terna - which closed in the green by 0.5% - Baa2 and BBB+, respectively, both with stable outlooks, a notch above that of the Italian Republic.

The board of the Hera group -- down 0.6 percent -- on Wednesday approved consolidated financial results as of December 31, 2024, closing with a net profit of EUR488.1 million, up from EUR390.1 million in the previous year. The board presented the proposed dividend increasing to EUR0.15 from EUR0.14 in 2023.

Prysmian -- in the red by 6.2 percent -- unveiled its 2025-2028 strategic plan on Wednesday at its capital markets day, announcing new financial targets and an increasingly focused transformation from a cable manufacturer to a global provider of integrated solutions.

By 2028, the group expects adjusted Ebitda of between EUR2.95 billion and EUR3.15 billion, up from EUR1.93 billion in 2024, with a compound annual growth rate dI more than 12 percent.

On the cadet segment, GVS left 4.3 percent on the parterre, after 4.9 percent green in the previous session on the back of good 2024 accounts.

RCS Mediagroup, on the other hand, gave up 2.8 percent, after two sessions in which it closed with an unchanged balance.

The board of Technogym -- in the green by 7.3% -- approved the 2024 consolidated annual financial report, closing with a net profit of EUR89 million, up from EUR77.2 last year. Total revenues for the year are EUR901.3 million, up 12 percent from 2023. The proposed dividend is EUR0.80 per share, totaling about EUR119.5 million, corresponding to 137% of net income up from EUR0.26 last year.

Danieli & C. -- up 8.2 percent -- reported Tuesday that it closed the first half of the 2024/2025 fiscal year with a net profit of EUR125.1 million, up 27 percent from the EUR98.8 million recorded in the same period last year.

On the Small-Cap, Olidata rallied 5.8 percent to EUR2.45 per share, on its third bullish candle.

Zest -- in the green by 3.6 percent -- reported that it ended fiscal 2024 with an adjusted net income of EUR7.6 million, compared with a loss of EUR2.6 million recorded in 2023. Adjusted revenues and other income came in at EUR9.7 million, up 38 percent from EUR7 million in the previous year.

doValue -- in the red by 1.7 percent -- reported Wednesday that it, through its subsidiary doValue Greece Loans and Credits Claim Management, has signed an agreement with Bank of Greece in connection with the appointment as servicer of a portfolio to be securitized for which NBG has signed an agreement with funds managed by Bracebridge Capital, to sell 95 percent of the mezzanine and junior notes.

The securitization involves a Greek portfolio consisting mostly of secured non-performing loans, with a gross book value of EUR700 million and total claims of EUR1.4 billion, for which doValue will act as sole and exclusive servicer.

Eurogroup Lamination, on the other hand, gave up 5.2 percent after eve's gain of 0.6 percent. Of note, Citadel Advisors raised its short position on the stock to 0.56 percent from 0.48 percent previously.

Among SMEs, sales on Edil Sanfelice, which gave up 8.7 percent, in its third session closed with a negative balance.

GEL, on the other hand, left 5.5% on the parterre, after two sessions closed bullish and with new price at EUR2.06 per share.

Maps - down 2.1 percent - reported that it ended fiscal year 2024 with a group net profit of EUR1.9 million, more than doubling from EUR900,000 in 2023.

Impianti appreciated 9.4 percent, rebounding after a 13 percent decline on eve and priced in the EUR1.51 per share area.

High quarters also for Gentili Mosconi, which closed up 4.2% at EUR3.50, while during the session it touched a new high in the 52-week range at EUR3.65 per share.

In New York on Wednesday evening, the Dow closed down 0.3 percent to 42,454.79, the Nasdaq finished down 2.0 percent to 17,899.02, while the S&P 500 advanced 1.1 percent to 5,712.20.

In Asia, the Nikkei closed down 0.6 percent to 37,799.97, the Shanghai Composite finished in the green 0.2 percent to 3,373.75, while the Hang Seng rose 0.3 percent to 23,561.36.

Among currencies, the euro changed hands at USD1.07701against USD1.0790 on Wednesday in closing European equities. In contrast, the pound is worth USD1.2919 from USD1.2900 last night.

Among commodities, Brent crude is worth USD72.85 per barrel from USD73.90 per barrel at Wednesday's European stock close. Gold trades at USD3,070.90 an ounce from USD3,018.22 an ounce last night.

On Thursday's macroeconomic calendar from Italy will come the non-EU trade balance at 1000 CET, along with the Eurozone money supply. Still from Italy, an auction of 6-month BTPs is scheduled at 1110 CET.

From the US at 1330 CET, GDP and unemployment claims data will be available. At 2130 CET, the Federal Reserve's weekly balance sheet will be released instead.

On the corporate calendar, a number of corporate results are coming in.

By Antonio Di Giorgio, Alliance News reporter

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