Stock exchanges flat; Leonardo and oil good, Juventus down

(Alliance News) - Mid-day Monday, European stock markets remain near parity as markets watch the escalation of the conflict between Israel and Hamas with apprehension.

On the macro front, the cyclical Sentix index for the Eurozone falls only marginally in October to minus 21.9 points from minus 21.5 in the previous month, according to data released Monday.

However, this minimal change in the overall index masks an assessment of the current situation, which, at minus 27 points, marks the lowest level since November 2022. Expectations, on the other hand, increased by 4.2 points.

Thus, the FTSE Mib is in the red by 0.1 percent to 27,778.39, the Mid-Cap gives up 0.4 percent to 39,010.26, the Small-Cap is in the green by 0.1 percent to 25,245.11, while Italy Growth is down 0.5 percent to 8,053.78.

In Europe, Paris' CAC 40 is in the red by 0.3 percent, London's FTSE 100 is up with 0.3 percent while Frankfurt's DAX 40 gives up 0.5 percent.

On the main list of the Italian Stock Exchange, the Gaza war drags Leonardo to the highs with a 5.2% increase, and oil stocks, with Eni up 2.3%, Tenaris in the green 2.2% and Saipem up 1.5%.

Banca Generali gives up 1.0% after announcing on Monday that it achieved net inflows of EUR373 million in September, up 42% from September 2022, bringing its total since the beginning of the year above EUR4.3 billion, up 7% from the same period last year albeit amid high volatility in global financial markets

Telecom Italia goes down, down 1.8 percent. Press reports, reported on the meeting between Treasury Minister Giancarlo Giorgetti and Meloni government chief of staff Gaetano Caputi, who, at the request of Vivendi, which is TIM's largest shareholder, received Chairman Yannick Bollorè and CEO Arnaud de Puyfontaine.

For Vivendi, KKR's offer does not do justice to the strategic value of the infrastructure, without solving the debt problem at its root, putting the remaining company and its employees at risk. "This is why the French shareholder is ready to protect its rights in the most appropriate legal venues."

KKR has been working since June 26 together with TIM management to formulate a binding offer by Oct. 15 for Netco, the company that encompasses the primary and secondary networks, and Sparkle's submarine cables-which the MEF intends to take over at a later date.

Enel gives up 0.1 percent. The company on Thursday approved the launch of a share buyback program for up to 4.2 million shares.

The potential outlay associated with the execution of the program is estimated at about EUR23.3 million.

Also on the Mid-Cap, it is the oil stock Saras that does best of all with 2.1 percent.

Brembo gives up 1.4 percent after announcing Friday that the acceptance period for the option and pre-emption offer addressed to shareholders for the purchase of 4.4 million shares subject to the company's withdrawal has ended.

Juventus Football Club ends at the bottom and gives up 8.1 percent after opening in the red by 14 percent. It announced Friday that it closed the year with a loss of EUR123.7 million from EUR239.3 million in the same period last year, partly affected by negative revenue and cost effects related to the outcomes of Italian and international sports proceedings.

As of June 30, revenues and income stood at EUR507.7 million from EUR443.4 million in 2022.

Maire Tecnimont rises 0.1 percent after reporting that Tecnimont, part of the Integrated E&C Solutions business unit, signed a letter of award with ADNOC on Thursday for the onshore treatment plant at the Hail and Ghasha project.

The total value of the EPC contract is approximately USD8.7 billion and the project is scheduled for completion during 2028.

Anima Holding gives up 0.3 percent. The company reported that the group's net inflows of assets under management in September were negative EUR271 million.

At the end of September, total assets under management by the Anima group stood at about EUR184 billion.

On the Small-Cap, Pierrel--in the red by 1.3 percent--reported on Monday that it had obtained marketing authorization in Uzbekistan for the Articaine-based dental anesthetic, Orabloc in both formulations.

With this new authorization, the company explained in a note, Pierrel strengthens its commercial presence in Central Asia.

Avio - up 3.0 percent - announced Monday that the Vega launcher lifted off from the French Guiana Space Center at 2236 local time, 0336 CEST, and successfully completed the VV23 mission, placing two satellites plus ten auxiliary payloads into heliosynchronous orbit.

The VV23 mission launch sequence had been previously scheduled for Saturday but was aborted a few hours earlier due to a value slightly above the maximum threshold during the final countdown.

Greenthesis gives up 3.5 percent after opening up 8.8 percent. The company reported Thursday, Sept. 21, that it posted net revenues of EUR85.3 million in the first half of the year, up from EUR82.3 million in the first half of 2022.

Net income rose 2.6 percent to EUR8.6 million from EUR8.4 million in the same period last year.

Among SMEs, Growens - in the green by 0.6 percent - announced on Monday that it had signed a binding agreement to sell 100 percent of the share capital of its Dutch subsidiary Datatrics BV to Squeezely BV, a Spotler Group company, a leading marketing automation operator in the Netherlands and the UK, for a total consideration of EUR1.7 million.

Casta Diva Group drops 1.8 percent. The company said Thursday that its board of directors reviewed the figure for value of production as of September 30, which came in at EUR71 million, up 28 percent from the same period last year, when it was EUR56 million.

Almawave gives up 1.6 percent after reporting Thursday that subsidiary SisTer won the COMESA - Common Market for Eastern and Southern Africa tender to enhance the Africa Information Highway public data platform, which the African Development Bank makes available to all African countries and regional and subregional organizations.

In New York on Friday, the Dow closed in the green 0.9 percent to 33,407.58, the Nasdaq up 1.6 percent to 13,431.34, and the S&P 500 finished up 1.2 percent to 4,308.50.

Among currencies, the euro changed hands at USD1.0532 against USD1.0537 recorded in Friday's European equities close while the pound was instead worth USD1.2187 from USD1.2191 on Friday evening.

Among commodities, Brent crude is worth USD87.22 per barrel from USD83.65 per barrel at Friday's close. Gold, on the other hand, trades at USD1,851.15 an ounce from USD1,823.81 an ounce Friday evening.

Monday afternoon's macroeconomic calendar features French three-, six- and 12-month BT auctions at 1455 CEST and speeches by Jefferson and Logan of the Federal Reserve at 1500 CEST and 1850 CEST, respectively. Mann of the Bank of England, on the other hand, will close the day at 2200 CEST.

By Chiara Bruschi, Alliance News reporter

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