Falling indexes; Snam and Italgas in the lead

(Alliance News) - On Wednesday, at the halfway point of the trading session, the main European indexes are still in negative territory, due to uncertainties about future tariffs and geopolitical instability.

The FTSE Mib is down 0.9% to 35,530.79, the Mid-Cap is down 0.9% to 47,522.92, Small-Cap is down 0.7% at 27,886.33, while Italia Growth is down 0.4% at 7,554.70.

The London FTSE 100 is down 0.5%, the Paris CAC 40 is down 0.8%, while in Frankfurt the DAX 40 is down 0.5%.

On the macroeconomic front, as announced by Istat on Wednesday, annual inflation in Italy rose to 1.9% in March, up from 1.6% in February, while prices increased by 0.3% on a monthly basis.

In Milan, in the blue chip segment, Snam and Italgas are in the lead, with respective increases of 1.4% and 1.2%.

The industrial phase of the Ravenna CCS project, born from the collaboration between Eni and Snam for the capture and storage of CO2, will start in 2026, while the final investment decision is expected in the fourth quarter of the same year.

Eni loses 0.3%.

Among the bulls there is Hera, which continues to resist the downturn, growing by 1.1%. Telecom Italia, on the other hand, grows by 1.0%.

TIM has updated its new 52-week high to EUR0.3242 per share.

Poste Italiane, on the other hand, grew by 0.6%.

Postepay, a subsidiary of Poste Italiane, and Scalapay, an app for installment purchases, have entered into an agreement combining Postepay's digital payments with Scalapay's "Buy now pay later" approach; with the new service, participating businesses will be able to offer their customers in-store purchases divided into 3 or 4 installments, using Postepay's SmartPos.

At the bottom of the ranking are Stellantis, Interpump and Iveco, down 3.1% and 2.8% respectively.

In the mid-cap segment, Anima Holding and Rai Way did best, up 1.8% and 1.6%, ahead of TechnoGym and Newlat Food, both up 1.2%.

Technoprobe lost 4.0%. Berenberg reduced its target price for Technoprobe to EUR 6.6.

In the Small-Cap segment, Triboo, Aedes and Zest are at the top of the increases, growing by 7.4%, 4.6% and 4.0% respectively.

At the bottom of the list are Fidia, down 11%, and Brisochi, down 6%.

Among the SMEs, among the green stocks, Bellini Nautica and Cofle resisted better than all the others, increasing by 2.1% and 2.0%.

Haiki+ rose 0.8%. The company announced that the board of directors has approved a capital increase for a maximum amount of EUR 22.9 million.

The operation involves the issue of a maximum of 28.9 million new ordinary shares with no nominal value, with regular dividend entitlement, at a unit price of EUR 0.7906, of which EUR 0.6814 is share premium. The option ratio is set at three new shares for every ten shares held.

Ubaldi Costruzioni - down 0.7% - announced the reapproval of the financial statements and consolidated financial statements as of December 31, 2024 following a reclassification by the auditing firm.

The new value of production, both consolidated and for the parent company, has been revised to EUR 36.3 million compared to the EUR 35.3 million announced on March 28.

In New York, the Dow Jones fell by 0.4%, the Nasdaq by 0.1%, while the S&P 500 fell by 0.2%.

In Asia, the Nikkei closed down 1.0% at 33,920.40, the Shanghai Composite rose 0.3% to 3,276.00 while the Hang Seng fell 1.9% to 21,056.98.

Among currencies, the euro changed hands at USD1.1361 from USD1.1308 on Tuesday when European stock markets closed. The pound, on the other hand, was worth USD1.3281 from USD1.3233 on Tuesday evening.

Among commodities, Brent crude is worth USD65.49 per barrel, up from USD64.28 per barrel on Tuesday at the close of trading in Europe. Gold is trading at USD3,291.83 per ounce, up from USD3,218.48 per ounce on Tuesday evening.

Wednesday's macroeconomic calendar for the afternoon starts in the USA, where, starting at 1300 CEST, the 30-year MBA mortgage rate and weekly mortgage applications will be published. At 1430 CEST, March retail sales data will be released, followed at 1515 CEST by annual industrial production.

At 1600 CEST, again from the USA, retail inventories excluding cars will be released, while at 1630 CEST the update on crude oil inventories will be released.

At the end of the day, at 1900 CEST, there will be an auction of 20-year US Treasury bonds, followed at 1915 CEST by a speech by Federal Reserve Chairman Jerome Powell.

By Angelo Boccato, Alliance News reporter

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