(Alliance News) - Piazza Affari closed in the green and as the best among Europeans in the last session of the week, setting the bar above the 28,600 mark, after U.S. nonfarm payrolls data indicated a less "tight" labor market than feared by the Federal Reserve.
The data led markets to discount - almost with certainty - that Eccles Building will also hold the interest rate lever steady for the December meeting.
Indeed, the U.S. economy added 150,000 jobs in October 2023, about half of September's downwardly revised 297,000 and below market forecasts of 180,000, as shown by data released Friday by the U.S. Bureau of labor statistics.
In Milan, therefore, the FTSE Mib closed up 0.7 percent at 28,674.83 and high at 28,746.28.
Mid-Cap closed up 1.6 percent to 40,376.45, Small-Cap up 1.8 percent to 25,370.39, and Italy Growth gained 0.1 percent to 7,698.83.
In Europe, London's FTSE 100 closed down 0.4 percent, Paris' CAC 40 down 0.2 percent, and Frankfurt's DAX 40 up 0.3 percent.
On the main list in Piazza Affari, good buying on Nexi, which closed up 6.1 percent, pricing itself at EUR6.12 per share and closing for the fifth session in a row with a bullish candle.
FinecoBank - up 3.5% - closed its sixth session in a bullish trend, with price at EUR11.91.
DiaSorin closed up 2.1 percent, putting it in its fourth session in a bullish trend following the release of its accounts. Net income falls to EUR112 million from EUR203 million in the nine months and to EUR25 million from EUR62 million in the quarter. In the nine months, adjusted net income is EUR164 million from EUR244 million and in the quarter falls to EUR51 million from EUR76 million. DiaSorin still confirmed full-year guidance, however, forecasting revenues down about 14 percent from 2022, like-for-like revenues down 11 percent, and adjusted Ebitda margin down about 34 percent.
Ferrari finished up 1.8 percent after closing up 5.6 percent last night, when the Cavallino reported Thursday that it ended the third quarter with strong year-over-year indicators. Adjusted net income is EUR332 million up 46 percent from EUR228 million in the same period last year. Net revenues for the third quarter amounted to EUR1.54 billion, up 24% from the same period a year earlier. In the third quarter, cars delivered reached 3,459 units, an increase of 271 units over the previous year, thanks to a very strong order backlog reflecting volumes, geographies and product allocation plans by quarter.
It should also be noted that RBC raised the target price of the stock to EUR344.00 from EUR335.00 with an 'outperform' rating and that Kepler Cheuvreux raised the target price to EUR320.00 from EUR310.00 with a 'hold' recommendation.
Tenaris fell 0.3 percent after closing up 8.3 percent yesterday, driven by good results and the announcement of a new buyback of up to USD1.2 billion. In addition, the board of directors approved the payment of an interim dividend. As for the third quarter, the group reported net income of USD547 million, down from USD608 million in the same period in 2022, with earnings per share of USD0.46 from USD0.51 in the previous year's third quarter. Net sales were USD3.24 billion, up 9 percent from USD2.98 billion in the same period of 2022.
On the Mid-Cap, De Longhi closed up 6.7 percent -- in its fourth bullish session -- at EUR23.44. Of note, Bermeberg raised the target price to EUR29.00 from the previous EUR27.00.
Purchases also on Anima Holding after the publication of its accounts, with assets up 5.3 percent. The company announced Friday that its board of directors approved its consolidated interim report for the nine months ended September 30, reporting adjusted net income of EUR121.7 million, up 6.0% from the first nine months of 2022, when it was EUR115.2 million.
In contrast, Illimity rallied 5.4 percent after falling 0.4 percent on the eve, with new price at EUR5.12.
On a negative note, a narrow minority in the segment, Ferretti closed down 0.1 percent after 3.2 percent green on eve.
Saras--down 2.2%--reported that Urion Holdings bought 11.6 million ordinary shares in the Moratti's company for a total value of EUR14.5 million.
On the Small-Cap, Fiera Milano closed up 12 percent, following up the gain, albeit by a modest 0.2 percent, of the previous session.
Aquafil, on the other hand, rallied 7.4 percent, following Thursday's bullish candle with a plus 2.3 percent.
Giglio Group picked up 9.8 percent. It announced Thursday that, following the transfer of 100 percent of IBox's shares, it was acquiring a set of e-commerce-related assets currently recorded in the former subsidiary's balance sheet, for a total value equivalent to the divestment amount of EUR5.9 million. This transaction, therefore, will not result in any overall cash flow or financial and economic benefits, but is "strategic for the rationalization of corporate costs through the reduction of resources allocated to a foreign company that is no longer essential to Giglio Group's operations," the company specified in the note.
SIT, on the other hand, closed down 0.5 percent at EUR2.18 per share, reversing course after three sessions ended in profit.and after touching an intraday low of EUR2.12.
Fidia, down 2.0 percent, informed that the board of directors reviewed and updated the business plan approved in March. With regard to revenues, it expects a limited reduction in revenues for fiscal year 2023 from EUR30.1 million to EUR28.9 million, "which, however, at the level of added value implies a reduction of EUR148,000 compared to the originally planned figure," the company note said.
Among SMEs, expert.ai rallied 3.6 percent, in its third session among the bullish.
Ambromobiliare, on the other hand, advanced 4.9 percent, also marking a bullish trifecta with price at EUR1.51.
Pozzi Milano - up 2.0 percent - on Thursday approved the signing of a contract between the company and related party Forma Italia, concerning the latter's supply of tableware products made of porcelain and other materials limited to promotional operations and/or loyalty programs. The total maximum estimated amount is EUR3.0 million, while the contract is valid through Oct. 31, 20.
Among the many bearers, Bifire gave up 5.9 percent, following a 5.6 percent red on the eve of the event.
In New York, the Dow rises 0.8 percent, the Nasdaq picks up 1.4 percent, while the S&P 500 is marking plus 1.1 percent.
Among currencies, steps forward for the single European and British mint. The euro changes hands at USD1.0738 versus USD1.0615 recorded at Thursday's European stock close, while the pound is worth USD1.2385 from USD1.2176 last night.
Among commodities, Brent crude is worth USD86.76 per barrel from USD86.34 per barrel at yesterday's close. Gold, meanwhile, trades at USD1,988.20 an ounce from USD1,982.01 an ounce last night.
On Monday's macroeconomic calendar, at 0800 CET, Germany's factory orders will arrive while between 0915 CET and 1000 CET will come the services PMIs from Spain, Italy, France, Germany and the Eurozone. At 1030 CET, focus on the sentix index of investor confidence.
From the U.S., at 1700 CET, Cook from the Federal Reserve will speak while at 1730 CET, an auction of three- and six-month Treasury securities is scheduled.
Among companies in the Piazza Affari, results from Autostrade Meridionali, Cementir Holding, Eles, Intercos, PharmaNutra, Poste Italiane, Saccheria F.lli Franceschetti and Sicily by Car are expected.
By Maurizio Carta, Alliance News senior reporter
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