Mib up; record profit for illimity

(Alliance News) - On Friday, European stock markets--according to the futures market--mark an upward path as investors continue to assess the outlook on what could be the moves of the major central banks, which are expected to include confirmations of current rates at their respective meetings.

Prior to the ringing of the bell, good accounts released by Iveco, as well as those of bankers Mediobanca, illimity and Banca Profilo, are noted.

The bank led by Corrado Passera closed with a net profit at EUR104.4 million, a 39 percent increase over the previous year. The figure represents a record for the group since its founding.

The FTSE Mib, therefore, after ending Thursday's session up 0.3 percent at 31,064.15, is advancing 37.50 points.

In Europe, London's FTSE 100 is rising 9.00 points, Paris' CAC 40 is dipping just below par, and Frankfurt's DAX 40 is moving just above par.

Among the smaller lists last night, the Mid-Cap advanced 0.2 percent to 45,285.01, the Small-Cap gave up 0.2 percent to 27,337.85 while Italy Growth closed down 0.1 percent to 8,128.08.

On the main list of Piazza Affari last night, Banco BPM closed up 0.8 percent after reporting Thursday that it ended 2023 with a net profit of EUR1.26 billion, up 85 percent from EUR685.0 million a year earlier.

In the fourth quarter alone, the bank posted a net profit of EUR321.1 million, which compares with EUR319.0 million in the previous quarter.

Azimut Holding -- in the red by 0.3 percent -- reported Thursday that it had recorded positive net inflows of EUR414 million in January 2024. Total assets including assets under administration stood at EUR92.1 billion at the end of January, of which EUR61.3 billion refer to assets under management.

Banca Generali ended at the bottom with a 2.5 percent decline after announcing Thursday that it reported a 53 percent increase in net income for 2023, to EUR326.1 million from EUR213.0 million a year earlier.

The figure is a record for the company and higher than the 10 percent to 15 percent growth forecast in the three-year plan.

Banca Mediolanum, up 1.5 percent, on Thursday shared its January net inflows figures and announced that the board of directors approved the consolidated results as of Dec. 31, proposing a balance dividend of EUR0.42 per share, which together with the EUR0.28 interim dividend brings the total dividend to EUR0.70, 40 percent higher than the 2022 dividend of EUR0.50 per share. 2023 ended with a profit of EUR821.9 million, up 62 percent from EUR506.8 million in 2022.

BPER Banca -- down 0.2 percent -- reported Wednesday that it ended 2023 with a year-on-year increase in net profit, prompting the institution to raise its proposed dividend. Last year's net profit was EUR1.55 billion, up from EUR1.47 billion in 2022, with the bank's board proposing to pay a dividend of EUR0.30 compared to EUR0.12 paid a year earlier.

Better than all give STMicroelectronics, up 3.5 percent, Brunello Cucinelli, up 3.5 percent, and Pirelli &C, in the green by 2.6 percent.

On the Mid-Cap, Sanlorenzo h closed on top with 3.0 percent after announcing Thursday that it realized net revenues from the sale of new yachts in 2023 at EUR840.2 million, up 13 percent from EUR740.7 million in 2022. Full-year 2023 Ebitda is EUR157.5 million, up nearly 22% from EUR129.6 million a year earlier.

The results also pushed Banca Ifis, which rose 2.0 percent. It reported Thursday that it had reached an all-time record for 2023 net income, which came in at EUR161.9 million from EUR141.9 million as of Dec. 31, 2022.

The company pointed out that the net profit was nearly 17 percent higher than the target of EUR137 million set in the business plan to 2023.

Cementir Holding, meanwhile, closed up 0.5 percent after reporting Thursday that it ended 2023 with revenues of EUR1.69 billion, down slightly from EUR1.72 billion in 2022.

OVS -- up 1.3 percent -- announced Tuesday that it had signed a letter of intent with Goldenpoint Spa shareholders with the aim of developing a possible industrial partnership.

Goldenpoint counts on a sales network of about 380 stores located in prestigious locations in major historical centers and shopping malls in Italy and a turnover of nearly EUR100 million.

On the Small-Cap, Piquadro gave up 0.9 percent after reporting Thursday that revenues for the first nine months rose to EUR131.5 million from EUR126.8 million in the same period a year earlier.

Mondo TV - in the red by 3.4 percent - reported Wednesday that it had reached an agreement with Yamato Video to distribute some material from its library in Italy.

Among the bullish performers, Class Editori closed in the green by 5.5 percent followed by Italian Sea Group, up 4.5 percent.

Among SMEs, Valtecne closed up 5.4 percent after reporting Thursday that its board of directors reviewed sales revenues as of December 31, which were EUR30.7 million, up about 28 percent from the previous year when they were EUR24.1 million.

STAR7 - flat at EUR6.60 - reported Thursday that preliminary group revenues in 2023 stood at EUR104 million, registering a 25 percent growth from EUR83.3 million as of Dec. 31, 2022.

Talea Group - up 6.8 percent - announced Thursday that it has acquired the availability of the "Best Body" and "VitaminCenter" brands, the related domains www.bestbody.it and www.vitamincenter.it and the related private label brands "Best Body" and "VitaminCompany."

Farmacosmo -- up 2.0 percent -- announced Thursday that it has signed a binding agreement to sell 67 percent of the share capital of Innovation Pharma. Innovation Pharma is 67 percent owned by Farmacosmo and 33 percent owned by G&Ph Holding. Innovation Pharma controls 100 percent of GPharma1, 100 percent of GPharma2, and 67 percent of Farmacia De Leo.

In New York on European night, the Dow rallied 0.1 percent, the Nasdaq closed in the green by 0.2 percent, and the S&P 500 closed just above par.

Among Asian exchanges, the Nikkei picked up 0.1 percent, the Shanghai Composite is rising 1.3 percent, while the Hang Seng is in the red by 0.8 percent.

Among currencies, the euro changes hands at USD1.0777 against USD1.0764 recorded in Thursday's European stock close while the pound is worth USD1.2629 from USD1.2612 last night.

Brent crude is worth USD81.53 per barrel versus USD81.13 per barrel at Thursday's close. Gold, on the other hand, trades at USD2,033.39 an ounce from USD2,028.64 an ounce Thursday night.

Friday's economic calendar includes from Italy industrial production at 1000 CET while a 12-month BOT auction will be held at 1110 CET.

In the afternoon, from Canada, the unemployment rate is expected at 1430 CET.

By Maurizio Carta, Alliance News reporter

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