Mib bullish; profit taking on MPS

(Alliance News) - At mid-session on Thursday, the bluechip index in Piazza Affari moved in a bullish trend to stand just below the 31,000-point level, mirroring the performance of its European peers, as investors continue to digest new corporate updates and eagerly await information from major central bankers in Europe and the US later in the day.

The ECB confirmed in its economic bulletin that core inflation is falling but that rates will remain at sufficiently restrictive levels as long as necessary and that decisions will depend on data.

Thus, the FTSE Mib is marking a 0.1 percent rise to 30,995.52, the Mid-Cap is advancing 0.3 percent to 45,509.72, the Small-Cap is advancing 0.4 percent to 27,480.93 while Italy Growth is marking a 0.4 percent red.

In Europe, London's FTSE 100 is advancing 0.2 percent, Paris' CAC 40 is marking plus 0.5 percent, while Frankfurt's DAX 40 is advancing 0.1 percent.

On the main list of Piazza Affari, Nexi confirms its good start, excelling on the bearish-dominated list by bringing the bar up 2.6 percent, on the heels of last night's more modest 0.1 percent rise.

Stellantis is confirmed, rising 1.3% to EUR21.94 after ringing up two assets in the previous two sessions.

BPER Banca - down 3.0% - is repositioning its price in the EUR3.43 area after four sessions closed among the bearish. The bank 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.

Banca Monte dei Paschi, on the other hand, is leaving 2.0 percent on the parterre, with price at EUR3.48, the subject of profit-taking after four bullish daily candles ringed after good accounts.

On the Mid-Cap, purchases on Salvatore Ferragamo, which brings the price up 3.1 percent after a 1.0 percent loss in the previous session.

Advancing well is Tod's, which scores a plus 3.1%. The stock - which has not detached its dividend since 2019 - on a monthly basis marks a green of more than 15 percent.

Technogym, meanwhile, advances 1.8 percent to EUR9.29 per share.

Anima Holding - in the money by 0.5 percent - reported on Wednesday that it achieved negative net inflows from assets under management of EUR470 million in January, which compares with positive inflows of EUR34 million in January 2022. Total assets under management exceed EUR191 billion against EUR182.4 billion in January 2023, up 4.8 percent.

ENAV, on the other hand, is surrendering 1.6 percent with price at EUR3.35 per share, following a 6.9 percent decline on the eve of the meeting.

On the Small-Cap, good session for The Italian Sea Group, which is stretching 4.5% updating its 52-week high at EUR10.78.

Fidia, on the other hand, is stretching 3.4 percent, following eve's red with 3.9 percent.

Mondo TV - in the red by 1.3 - announced Wednesday that it has reached an agreement with Yamato Video for the distribution in Italy of some material from its library.

Bialetti, on the other hand, is giving up 3.6 percent on the heels of the eve's negative close of minus 1.6 percent.

Among SMEs, Convergenze moves ahead by 5.6 percent, after the 2.1 percent red of the previous session.

Arterra Bioscience, on the other hand, advances 7.3 percent, bringing the weekly ose to an asset of about 10 percent.

Farmacosmo -- up 0.2 percent -- announced Thursday that it has signed a binding agreement to sell a 67 percent stake in Innovation Pharma Srl. Innovation Pharma is 67% owned by Farmacosmo and 33% owned by G&Ph Holding Srl. Innovation Pharma controls 100 percent of GPharma1 Srl, 100 percent of GPharma2 Srl, and 67 percent of Farmacia De Leo Srl.

At the tail end, Elsa Solutions closes the list, marking a minus 4.6 percent bringing the price to EUR4.60.

In New York on Wednesday, the Dow rallied 0.4%, the Nasdaq closed up 1.0%, and the S&P 500 closed bullish by 0.8%.

Among currencies, the euro changed hands at USD1.0772 against USD1.0764 recorded in Wednesday's European stock close while the pound is worth USD.2619 from USD1.2631 last night.

Brent crude is worth USD79.95 per barrel versus USD78.89 per barrel at Wednesday's close. Gold, meanwhile, trades at USD2,035.81 an ounce from USD2,039.06 an ounce on Wednesday evening.

Thursday afternoon's economic calendar includes, from the US, jobless claims, due at 1430 CET, and the Federal Reserve's balance sheet, due out at 2230 CET.

Later in the day, several central bank members will speak: Dhingra from the Bank of England, Elderson and Lane from the ECB, and Barkin from the Fed.

By Maurizio Carta, Alliance News reporter

Comments and questions to [e-mail]

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.