Mib in green; Leonardo on 52-week highs

(Alliance News) - European stock indexes continued upward Thursday as investors await the release of important U.S. economic indicators, including data on producer prices and initial claims for unemployment benefits, expected later in the day.

Thus, the FTSE Mib, is advancing 0.1 percent to 33,927.71.

In Europe, London's FTSE 100 is moving on the parity line, Frankfurt's DAX 40 is advancing 0.3 percent, and Paris' CAC 40 is picking up 0.6 percent.

Among the smaller lists, the Mid-Cap is advancing 0.2 percent to 47,099.94, the Small-Cap is advancing 0.5 percent to 27,625.21, and Italy Growth is down 0.1 percent to 8,055.85.

On the Mib, sprint in Leonardo, which leads the price up 2.4 percent, touching a 52-week high at EUR22.19 per share.

Strength also on ERG, which moves ahead 1.8% to EUR23.34 per share. The company reported Wednesday that reported group net income was EUR179 million compared to EUR379 million in 2022. The adjusted one from continuing operations was EUR226 million compared to EUR129 million in 2022. The board proposed a dividend of EUR1.00 per share, confirming the previous year's amount.

Snam - in the green by 0.3 percent - ended 2023 with an adjusted net profit of EUR1.17 billion, up 0.4 percent from EUR1.16 billion booked the previous year. The company pointed out that the positive results from operations, together with the solid performance of investee companies, were partly offset by higher financial expenses and income taxes. Net accounting profit was EUR1.14 billion.

Poste Italiane opened the session in the green by 0.8 percent. Of note, Deutsche Bank raised its target price to EUR12.70 from EUR12.00.

BPER Banca--in fractional green--reported on Wednesday that it bought back 2.5 million of its own ordinary shares between March 11 and 13 at an average price of EUR3.9216 and a countervalue of EUR9.6 million.

Target price also increased for Ferrari, which advanced 0.1 percent to EUR387.90. Bernestein raised the tp to EUR365.00 from EUR340.00.

On the cadet segment, still boost on De'Longhi, which advances well benefiting from the good accounts presented a few days ago. The stock - which advances 2.2% - thus points to its fourth session to close among the bullish.

MARR's board of directors - in the green by 2.9 percent - on Wednesday approved the 2023 financial statements today, recording a consolidated net profit of EUR47.1 million, which compares with EUR26.6 million in 2022, which "was affected by higher net financial charges of EUR9.7 million due to the increase in the cost of money as of the second half of 2022," the company wrote in the note. The board proposed a gross dividend of EUR0.60 per share compared to EUR0.38 in the previous year.

Reply -- up 0.5 percent -- announced Wednesday that it had approved results for fiscal year 2023, which ended with a profit of EUR186.7 million, down from EUR191.0 million as of Dec. 31, 2022. The company announced that a dividend of EUR1 per share was approved, confirming the 2022 dividend.

Digital Value, on the other hand, is giving up 0.7 percent, with price at EUR55.20 per share, following up the eve's decline with 1.2 percent.

Also on a negative note and rear-ended by Italmobiliare, which marks a minus 0.9% after two bullish sessions.

On the SmallCap, head of the list for Digital Bros, which marks a plus 6.4 percent. The company announced that its board of directors approved the condensed half-year financial report as of Dec. 31, reporting a loss of EUR6.4 million for the first six months of the year compared with a profit of EUR11.0 million in the first half of the previous year. This loss, the statement said, "will be recovered during the second half of the year."

Caleffi, meanwhile, advances 5.3 percent, rearing its head again after three sessions in the negative.

Among SMEs, strength on Culti MIlano, which moves ahead 3.7 percent with new price at EUR15.40 per share after four bearish sessions.

Bellini Nautica is advancing 3.0% after two sessions ended among the bearish.

Iervolino & Lady Bacardi is giving way, contracting 3.2% bringing the price back to the EUR0.60 area.

Espe is inevce giving up 2.1 percent, breaking a ten-session uptrend.

In New York, the Dow picked up 0.1%, the Nasdaq gave up 0.5%, and the S&P 500 closed down 0.2%.

Among Asian exchanges, the Hang Seng is marking a red 0.7 percent, the Shanghai Composite is edging 0.2 percent, while the Nikkei picked up 0.3 percent.

Among currencies, the euro changes hands at USD1.0940 against USD1.9043 recorded in Wednesday's European stock close, while the pound is worth USD1.2797 from USD1.2794 on Wednesday evening.

Brent crude is worth USD84.22 per barrel versus USD83.69 per barrel at Wednesday's close. Gold, meanwhile, trades at USD2,167.85 an ounce from USD2,177.75 an ounce on Wednesday evening.

On Thursday's macroeconomic calendar, the IEA monthly report is due at 1000 CET. An hour later China releases data on new mortgages and M2 money supply.

At 1330 CET it is the turn of the US producer price index, retail sales and continuing unemployment claims.

At 1330 CET in Canada, manufacturing sales are published and at 1445 CET the German non-seasonally adjusted current account.

Among the companies listed in Piazza Affari, results are expected from Brunello Cucinelli, Elica, Safilo Group, Tamburi Investment Partners, and Webuild, among others.

By Maurizio Carta, Alliance News reporter

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