Futures predict European lists to rise

(Alliance News) – On Monday, on a quiet day under the macroeconomic front and also in the release of the annual reports at Piazza Affari, major European stock markets are expected to be in positive territory according to IG futures, while U.S. markets are closed for the President’s Day holiday.

Thus, futures give the FTSE Mib up 40.0 points or up 0.1 percent after closing 0.4 percent in the red at 27,751.14 Friday night.

Paris’ CAC 40 is expected to be in the green by 23.2 points or 0.3 percent, as is Frankfurt’s DAX 40 up 44.5 points or 0.3 percent, while London’s FTSE 100 is expected to be in the green by 0.4 percent or 27.7 points.

“Last week saw another record week for the FTSE100, which together with the French CAC 40 managed to record new all-time highs, as well as a record weekly close. European markets managed to start the year well, as did U.S. markets, although in the past two weeks the momentum in U.S. markets has begun to stall, with the S&P500 closing lower for the second consecutive week, while the Nasdaq 100 is also beginning to show signs of impatience,” commented Michael Hewson, chief market analyst at CMC Markets.

“This divergence between U.S. and European markets has become more apparent over the past two weeks and could be further tested later in the week with the Fed minutes, due on Wednesday, and January core PCE inflation data, due on Friday.”

Among the smaller listings on Friday, the Mid-Cap closed 0.4 percent in the red at 44,621.92, the Small-Cap finished down 0.2 percent at 30,248.64, and Italy Growth left 0.7 percent at 9,634.95 on the parterre.

On the Mib on Friday, the banking sector did well, with BPER Banca up 4.4%, while Banco BPM, UniCredit and Intesa Sanpaolo closed in the green by 0.9%, 0.7% and 0.5%.

Telecom Italia closed up 2.5 percent, while the offer from Cassa Depositi e Prestiti and Macquarie is expected on Sunday, following that of the KKR fund. With markets closed, a meeting of the CDP board is expected to review and formalize its proposal to Telecom for the infrastructure network.

It is a move that has been somewhat prompted by KKR’s offer, which is worth around EUR20 billion and also includes the secondary network, in which the Americans are already 37 percent shareholders, and the strategic Telecom Sparkle.

FinecoBank – in the red by 1.3 percent – announced Thursday that it had completed the placement of its second market issue of senior preferred bond instruments aimed at qualified investors, for a total amount of EUR300 million and a coupon for the first 5 years of 4.625 percent compared to an initial guidance of 5-year Mid swap rate 175 basis points.

Also in the red was Iveco Group, which gave up 0.7 percent. Citadel Advisors raised its short position to 0.63% from 0.57%.

On the Mid-Cap, Banca Monte dei Paschi di Siena rose 6.8 percent after reporting Thursday that rating agency Moody’s Investors Service upgraded the bank’s ratings by 2 notches, raising the standalone Baseline Credit Assessment to “b1” from “b3,” the long-term deposit rating to “Ba2” from “B1,” and the subordinated debt rating to “B2” from “Caa1.” The long-term senior unsecured debt rating was upgraded by 3 notches to “B1” from “Caa1.”

Banca Ifis and Credem followed, up 4.2 percent and 2.4 percent.

At the bottom, however, were Seco, MARR and Intercos Group, in the red by 3.6 percent, 2.9 percent and 2.5 percent, respectively.

On the Small-Cap, PLC, which is back 1.0%, reported on Friday that PLC System, a group company, has signed a contract with Opdenergy Italia for the turnkey construction of a utility substation serving a 25 MW photovoltaic park in Contrada “La Francesca,” Benevento province.

Tesmec closed 2.5 percent in the red. The company on Thursday reviewed some preliminary management data for fiscal 2022, which show revenues up about 25% from fiscal 2021, thanks to the performance of the rail sector, the recovery of the trencher sector in the U.S. market, and an improved mix in the energy sector.

Bialetti Industrie haterminated at parity. On Thursday it disclosed that it has appointed Michela Partipilo as chief financial officer and corporate accounting officer.

Among SMEs, SolidWorld Group flew into Friday’s close up 35 percent after announcing the day before that Bio3DPrinting, a group company, has started production of Electrospider, the 3D bioprinter capable of making faithful reproductions of human cells, tissues, and organs.

Initial production capacity is 12 printers worth EUR500,000 each, for a total of EUR6.0 million. The stock has rallied 13 percent in the past month and has marked a 30 percent gain in the last six months.

On the other side of the list, there is Sciuker Frames, which closed 12 percent in the red, despite clarifying on Friday that SCK Group in light of the recent regulatory provisions on 110, “intends to reassure its investors about the objectives of the Business Plan to 2024, as the backlog related to 110 interventions placed among the plan assumptions falls substantially within the transitional rules provided by Decree Law 11/2023 that allow the normal operation of the assignment of credit for all those interventions covered by Cila on the date of publication of the same Decree in the Official Gazette,” as explained by the company in a note.

Pattern’s board of directors — up 2.2 percent — on Thursday reviewed some preliminary consolidated figures for fiscal year 2022, showing sales revenues of EUR109.2 million from EUR69.5 million in 2021.

Imprendiroma closed in the red by 1.8 percent. The company announced on Friday that in light of recent regulatory provisions on assignment of receivables and invoice discounting, the total backlog orders will be eligible for continued invoice discounting.

Arterra Bioscience – up 0.8 percent – disclosed Thursday that it had signed a collaboration agreement with ABResearch to carry out research and study of the potential properties and uses in the commercial arena of a molecule owned by ABR.

Portobello — in the red by 2.1 percent — reported Thursday that a new maxistore was opened in Lombardy, in Curno in the province of Bergamo, inside the ‘Curno’ shopping center.

In Asia, the Nikkei closed in the green by 0.1 percent at 27,531.94, the Shanghai Composite gained 2.1 percent to 3,290.34, and the Hang Seng is giving up 2.1 percent to 21,215.81.

While U.S. stock exchanges will be closed for holidays today, in New York on Friday, the Dow Jones closed in the green 0.4 percent to 33,826.69, the S&P lost 0.3 percent to 4,079.09, and the Nasdaq gave up 0.6 percent to 11,787.27.

Among currencies, the euro changed hands at USD1.0694 against USD1.0678 at Friday’s close. In contrast, the pound is worth USD1.2035 from USD1.2019 on Friday evening.

Among commodities, Brent crude is worth USD83.63 per barrel versus USD83.13 per barrel Friday night. Gold, on the other hand, trades at USD1,853.60 an ounce from USD1,839.66 an ounce at Friday’s close.

On Monday’s economic calendar, with U.S. stock exchanges closed, at 1100 CET will come the construction data from the Eurozone.

At 1430 CET, the import price index and export price index from the US will come out.

At 1600 is expected the European consumer confidence data.

As for the companies listed on Piazza Affari, the results of Eles are expected.

By Claudia Cavaliere, Alliance News reporter

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Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.


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