(Alliance News) - The Mib moves lower in the last session of the week, aligning with the downward trend of other major European financial markets, in the aftermath of Fed Chairman Jerome Powell's comments that have cooled trading rooms' enthusiasm about the Eccles Building's bullish cycle coming to an end, or even with arguments that would like cuts starting in 2024.
Powell thus warned the U.S. central bank he chairs of the risk of being "fooled" by good price data, saying the mission to bring inflation back to its 2 percent target has a "long way to go." Speaking Thursday at an IMF event, Powell said officials have been "gratified" by the decline in price pressures, but that it is far from the end of the mission, which is to return the basket to an acceptable nominal growth groove.
The FTSE Mib, therefore, marks a 0.6 percent red at 28,462.43.
Among the smaller lists, the Mid-Cap retreats 0.9 percent to 40,658.30, the Small-Cap in the red 1.0 percent to 25,293.17, and Italy Growth marks a red 0.5 percent to 7,618.66.
Paris's CAC 40 is giving up 1.1 percent, Frankfurt's DAX 40 is contracting 0.7 percent, and London's FTSE 100 is giving up 1.2 percent.
On the main list in Piazza Affari, CNH Industrial continues in contraction as seen since the bell rang, giving up 2.5 percent and continuing its bearish streak.
Campari also confirms the bearish trend, contracting 4.1 percent after eve's gain of 0.6 percent.
Pirelli - down 2.4 percent - reported Thursday that its board of directors reviewed its consolidated results as of September 30, reporting a net profit of EUR168.4 million in the last quarter, 33 percent higher from EUR126.3 million in the third quarter of 2022.
Leonardo -- in the green by 2.8 percent and leading the list -- reported Thursday that it ended the first nine months with orders of EUR13.28 billion, up 15 percent from EUR11.72 billion in the same period a year earlier. Revenues increased to EUR10.27 billion from EUR9.92 billion a year earlier, thanks in part to a significant recovery in Aerostructures, up 32 percent from the first nine months of 2022, and the performance of Defense and Security Electronics. Revenues for the period rose to EUR1.72 billion from EUR1.84 billion million with organic growth of 2.2 percent excluding the exchange rate effect, which weighed 8.4 percent.
Qaurtieri also highs Banco BPM, which advances 1.5 percent to EUR5.14, touching its new 52-week high.
Unipol's board of directors -- up 1.1 percent -- approved consolidated results as of Sept. 30, closing with a profit with consolidated net income of EUR769 million, compared with consolidated net income of EUR854 million in the same period last year. It should be noted that last year, as the company specifies, "reflected extraordinary items of approximately EUR275 million related to the pro-rata consolidation of BPER Banca. The figure for the first nine months 2022, restated for comparative purposes in application of the new principles, would be EUR495 million."
On the cadet segment, good session for illimity Bank, which moves ahead 1.2 percent after publishing good accounts for the nine months. The bank reported net income of EUR75.0 million from EUR50.6 million, up 58 percent from the same period a year earlier. As of September 30, net interest income stood at EUR147.7 million, up 27 percent to EUR116.1 million in 2022.
It does even better for GVS, which stretches 3.4 percent on the heels of the eve's profit closed with a plus 5.6 percent.
The board of Webuild - in the money with 1.0 percent - announced Thursday that it had recorded a record EUR22 billion in new orders in the first nine months of the year. Of these, more than EUR12.6 billion of the new orders came from abroad-Australia, the U.S., and the Middle East-while orders from Italy totaled EUR9.4 billion.
Antares, on the other hand, is giving up 4.5 percent to EUR3.0 per share, after two sessions closed on the upside in which it accumulated a 9 percent gain.
The bottom of the list, however, is for Ascopiave, which marks a bearish candle of 5.0%. The board of directors approved the interim report as of September 30, closing with a consolidated net profit, amounting to EUR14.4 million, and showing a reduction compared to the same period last year, when it amounted to EUR25.3 million. The Ascopiave Group closed the first nine months with consolidated revenues of EUR125.2 million, compared to EUR120.0 million recorded in the first nine months of 2022.
On the SmallCap, Datalogic -- down more than 11 percent -- reported Thursday that it closed the first nine months with revenues down to EUR417.0 million from EUR476.5 million in the same period a year earlier, with declines recorded in all geographic areas in which it operates.
Aquafil, on the other hand, is giving up 6.0 percent to EUR2.26 per share, after declining accounts released on the eve of the meeting. It posted a loss in the first nine months, with a net loss of EUR17.1 million, which compares with a profit of EUR26.1 million in the same period last year.
Digital Bros -- down 5.6 percent -- announced Thursday that it closed the first quarter of fiscal 2023-2024 with a net loss of EUR3.1 million compared to a net profit of EUR3.1 million as of September 30, 2022. Revenues for the first quarter amounted to EUR20.2 million, down 9.7 percent from EUR22.4 million in the same period of 2022.
On a positive note, SoftLab moves ahead 6.0 percent to EUR1.5055, following eve's contraction with 5.9 percent.
Among SMEs, Convergences is giving up 8.7 percent touching a 52-week low of EUR1.37.
AATech is stepping back 6.9 percent, updating its 52-week low to EUR1.21 per share.
Svas Biosana--down 0.9 percent--reported Thursday that its revenues rose to EUR81.6 million from EUR69.5 million in the same period a year earlier.
Among the bullish, expert.ai advances 6.2 percent after a 2.5 percent loss on eve, with new price at EUR0.73.
Italia Independent, on the other hand, marks a plus 2.9 percent, after eve's contraction of more than 10 percent.
In New York overnight Europe, the Dow Jones gave up 0.7 percent, the S&P contracted 0.8 percent, and the Nasdaq left 0.9 percent on the parterre.
Among currencies, the euro changed hands at USD1.0686 versus USD1.0708 recorded at Thursday's European stock close, while the pound was worth USD1.2227 from USD1.2273 last night.
Among commodities, Brent crude is worth USD80.77 per barrel from USD80.70 per barrel at yesterday's close. Gold, meanwhile, trades at USD1,952.84 an ounce from USD1,962.33 an ounce last night.
Friday's macroeconomic calendar includes, at 1600 CET, the Michigan Confidence Index.
By Maurizio Carta, Alliance News reporter
Comments and questions to email@example.com
Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.