Mib rallying; Saipem still bullish after accounts

(Alliance News) - Equity markets embarked on a bullish opening Friday, with Milan pushing ahead above the 32,800-point mark on a day when trading rooms will be confronted with several incoming economic data, including several PMIs and inflation reports.

Among the indicators released, the Eurocoin improved in February, although it remained in negative territory, as disclosed Friday by the Bank of Italy and the Centre for Economic Policy Research.

In February, the Eurocoin rose to minus 0.31 from minus 0.56 in January. The indicator was weighed down by persistent weakness in Eurozone confidence, partially offset by positive employment signals.

The FTSE Mib, therefore, advances 0.7 percent to 32,814.06.

Paris' CAC 40 is advancing fractionally, Frankfurt's DAX 40 is advancing 0.5 percent, and London's FTSE 100 is advancing 0.6 percent.

Among the smaller listings, the Mid-Cap is advancing 0.3 percent to 45,717.91, the Small-Cap is in the green 0.1 percent to 27,993.37, and Italy Growth is posting a fractional red at 8,220.02.

On the Mib, Saipem is advancing well, on the heels of good accounts that saw a return to profit, putting in a plus 2.9% at EUR1.72 per share.

Boost also on Leonardo, which moves ahead 2.3%, pointing to its third consecutive bullish candle. On Thursday it reported preliminary results that it ended 2023 with revenues of EUR15.30 billion, up 3.9% from EUR14.71 billion as of December 31, 2022, and in line with guidance. The company explained that revenues reflect growth in all divisions.

High quarters also for Iveco, which marks a plus 1.5 percent to EUR3.84 per share after the previous session's 2.6 percent red.

Industrie de Nora, on the other hand, is giving up 0.9 percent to EUR15.42 per share, veering lower after two bullish sessions.

On the cadet segment, Webuild takes the top spot by advancing 2.6 percent. On the stock it is mentioned that the major shareholders - Salini Spa and CDP Equity Spa, a subsidiary and subject to the direction and coordination of Cassa Depositi e Prestiti Spa - have renewed in advance the existing shareholders' agreement between them, replacing it with a new agreement, with a duration until Feb. 28, 2027, which contains mutual commitments regarding governance and stability of the company's shareholding structure.

Boost also on Lottomatica, bullish by 2.5 percent after eve's 3.5 percent decline.

Pharmanutra, on the other hand, gives up 1.0% to EUR59.00, heading for the fourth session with a bearish candle.

Intercos, on the other hand, marks minus 1.7 percent, echoing the eve's red with 2.7 percent. The company reported Thursday that it ended 2023 with adjusted net income of EUR56.5 million, up 10 percent from EUR5.2 million in 2022. Consolidated group net income, on the other hand, amounted to EUR52.4 million, up nearly 17 percent from last year, when it was EUR45.0 million. The company also announced that it will propose to distribute a unit dividend of EUR0.18699 from EUR0.16622 in 2022.

Technogym retreats 0.9 percent to EUR8.71 per share, after 4.2 percent profit on the eve.

On the Smallcap, purchases on Giglio.Group, which brings the price up 3.1 percent after the previous session's 0.9 percent red.

Beghelli, on the other hand, is picking up 2.3% after three sessions closed among the bearish.

I Grandi Viaggi, on the other hand, advances 2.3% to EUR0.8140 after 2.7% red in the previous session.

Boost also on Il Sole 24 Ore, which appreciates 2.7% bringing the price to EUR0.66.

Among SMEs, eVISO marks a plus 5.4 percent with price at EUR3.51, currently the best on the list and trading at 52-week highs.

Finanza.tech -- in the money with 6.2 percent -- on Thursday reported that the board approved the draft and consolidated financial statements as of December 31, which closed with a net profit attributable to shareholders of EUR620,000 compared to EUR100,000 in the previous year.

In the rear, International Care Company is stepping back 5.4 percent with new price at EUR1.22.

In New York last night, the Dow Jones closed down 0.1 percent, the S&P in the green by 0.5 percent, and the Nasdaq picked up 0.9 percent.

Among the Asian exchanges, the Nikkei rallied 1.9 percent, the Hang Seng marks a 0.5 percent rise, while the Shanghai Composite marks a 0.4 percent green.

Among currencies, the euro changes hands at USD1.0812 against USD1.0808 recorded at Thursday's European stock close, while the pound is worth USD1.2635 from USD1.2635 last night.

Brent crude is worth USD81.93 per barrel versus USD83.73 per barrel at Thursday's close. Gold, on the other hand, trades at USD2,040.00 an ounce from USD2,045.87 an ounce Thursday night.

Thursday's calendar has Italy's monthly unemployment rate is due at 1000 CET, followed at 1030 CET by the U.K. PMI.

At 1100 CET, Italy's February inflation is expected, along with the Eurozone unemployment rate.

In the afternoon, at 1545 CET the US manufacturing PMI will come out followed by the ISM index at 1600 CET.

In Piazza Affari, the results of Networks, Spindox and Tweppy will come out.

By Maurizio Carta, Alliance News reporter

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