Mib does well but other Europeans remain flat

(Alliance News) - Good performance by Piazza Affari, which at Tuesday's opening is the only one in Europe to mark an uptick, as it awaits this afternoon's U.S. inflation and, in the morning, updated Eurozone GDP data with Germany's November ZEW economic sentiment survey, which will give further guidance on the ECB's trajectory.

Thus, the FTSE Mib is up 0.4 percent to 29,044.61, the Mid-Cap rises with 0.1 percent to 41,079.20, the Small-Cap advances 0.2 percent to 25,501.32 as Italy Growth at 7,612.11.

In Europe, Paris' CAC 40 is just above par as is Frankfurt's DAX 40 while London's FTSE 100 gives up 0.1 percent.

On the main list of Piazza Affari, Banca Generali opens up 1.0 percent after announcing Thursday that it closed the first nine months of the year with a consolidated net profit of EUR255.1 million, up 64 percent from EUR155.4 million in the same period last year, which, the company points out in a note, "discounted the impact of EUR35.3 million in extraordinary tax charges based on the framework agreement reached with the Internal Revenue Service on September 19, 2022 for the transfer-dated 2008-of BG Sicav's management proxy to the newly established BG FML product factory."

ERG, just below par, reported Tuesday that it closed the first nine months of the year with a group profit of EUR112 million, down from EUR459 million in the same period of 2022, which was inclusive of the net gain recognized on the sale of the Terni hydroelectric nucleus on January 3, 2022, for EUR324 million.

In the quarter, on the other hand, adjusted group net income from continuing operations was EUR35 million, in line with the third quarter of 2022.

Banca Monte dei Paschi di Siena -- in the green by 0.8 percent -- announced Monday evening that Marco Giorgino has resigned with immediate effect from the board of the Siena-based institution.

Giorgino is leaving because he has been appointed as a director of Mediobanca -- up 0.7 percent --, a role incompatible with that of a director of MPS.

In addition, Fitch Ratings upgraded the bank's ratings by two notches, raising the long term issuer default rating to 'BB' from 'B+' and the viability rating to 'bb' from 'b+'. The upgrade, according to Fitch, reflects the success of the restructuring process, which has enabled the bank to structurally rebuild strong capital buffers and strengthen operating profitability.

At the bottom remains CNH Industrial, which after closing 0.8 percent in the red is now down 0.9 percent.

On the Mid-Cap, EuroGroup Laminations is on top with 3.4 percent after approving Monday its consolidated financial results as of September 30, reporting a profit of EUR30.4 million for the first nine months from EUR32.3 million for the same period in 2022.Revenues amounted to EUR644.2 million from EUR651.1 million.

Banca Popolare di Sondrio follows, up 2.4 percent. On Monday evening, DBRS Morningstar agency reported, upon completion of its annual rating review process, it confirmed all of the bank's ratings, including its long-term issuer rating at investment grade "BBB(low)," while upgrading the trend from "stable" to "positive."

Salvatore Ferragamo -- in the red by 0.2 percent -- reported that non-executive and non-independent director Peter Woo has resigned.

Woo will receive no severance and, as of today, holds 10.1 million shares in the company, held through Majestic Honour Ltd.

The board of Antares Vision -- down 1.4 percent -- on Monday night approved the group's consolidated revenues for the first nine months. The figure showed a 13 percent year-on-year increase in orders to EUR160 million.

On the Small-Cap side, Centrale Del Latte D'Italia -- in the green by 3.4 percent -- reported Tuesday that it closed the first nine months of the year with a profit up 184 percent to EUR6.3 million from EUR2.2 million in the same period of 2022.

Revenues amounted to EUR250.8 million up 12 percent from EUR223.3 million as of September 30, 2022.

Newlat Food -- up 4.0 percent -- reported Tuesday that it closed the first nine months with revenues up to EUR600.7 million from EUR521.2 million in the same period last year. Operating income flew to EUR31.8 million from EUR11.7 million while net income jumped to EUR18.2 million from EUR3.5 million.

Landi Renzo gives up 1.5 percent after announcing Monday night that it made a group loss of EUR27.7 million in the first nine months of the year, worsening from a EUR10.1 million loss recorded in the same period last year.

The board of directors of Esprinet -- in the red by 1.8 percent -- approved the Additional Periodic Information as of September 30. For the nine-month period 2023, revenues from customer contracts stood at EUR2.74 billion, marking a 15 percent decrease compared to the result for the same period last year when they amounted to EUR3.21 billion.

Italian Design Brands -- up 1.8 percent -- reported Monday that it had revenues of EUR198.3 million in the first nine months of the year, up from EUR136.5 million recorded as of Sept. 30, 2022.

Giglio Group opens up 3.4 percent after reporting Tuesday that it closed the nine months with a return to net income despite a year-over-year decline in revenues.

The company reported a net profit of EUR110,000 as of Sept. 30, which compares with a net loss of EUR849,000 in the same period a year earlier.

Among SMEs, in a still uneventful list, Aton Green Storage climbs 8.2 percent. Also doing well were Pozzi Milano and Tecma Solutions, up 8.2 percent and 4.4 percent, respectively.

Among Asian exchanges, the Nikkei closed Tuesday up 0.3 percent at 32,695.93, the Shaghai Composite gained 0.3 percent to 3,056.07 while the Hang Seng closed 0.2 percent in the red at 17,425.00.

In New York on European night, the Dow closed up 0.2 percent to 34,337.87, the Nasdaq lost 0.2 percent to 13,767.74 while the S&P 500 gave up 0.1 percent to 4,411.55.

Among currencies, the euro changed hands at USD1.0705 against USD1.0689 recorded in Monday's European stock close while the pound is worth USD1.2285 from USD1.2243 last night.

Among commodities, Brent crude is worth USD82.59 per barrel from USD81.53 per barrel at Monday's close. Gold, meanwhile, trades at USD1,945.26 an ounce from USD1,942.45 an ounce last night.

Tuesday's macroeconomic calendar includes, at 1100 CET, from the Eurozone, the Gross Domestic Product and sentiment data from the ZEW Institute.

In the afternoon, at 1430 CET, eyes on US inflation while in the evening will come the weekly oil stocks data, at 2230 CET.

Among the companies in Piazza Affari, several nine-month accounts are coming up, including those of Cairo Communication and Fincantieri.

By Chiara Bruschi, Alliance News reporter

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