2023-10-30 07:34:07
(Alliance News) – European stock markets open mixed on Monday, as investors prepare to receive the latest inflation data from Germany and Spain, as well as preliminary GDP data from Germany.
Markets also remain cautious ahead of monetary policy decisions from major central banks this week, including the Federal Reserve, the Bank of England and the Bank of Japan.
The FTSE Mib is therefore expected to rise by 0.2% following closing down 0.8% at 27,287.45, according to IG Futures.
London’s FTSE 100 is expected to open in the green with 18.3 points or 0.3 percent, Paris’ CAC 40 is priced just above par and Frankfurt’s DAX 40 is expected to fall slightly.
European stock markets continued to fall last week, closing lower for the sixth consecutive week, with much of the negativity coming from earnings disappointment and downward revision of forecasts heading into the final quarter this year,” comments Michael Hewson, chief market analyst at CMC Markets, “US markets also struggled to close lower for the second week in a row, as well as closing at their lowest levels since May, a sign that the resistance demonstrated during the first half of the year is now beginning to crumble.”
On Friday evening, Mid-Cap gained 0.1% to 37,609.40, Small-Cap finished flat at 23,996.93 while Italy Growth lost 0.3% to 7,593.51.
On the main Piazza Affari list, Eni closed up 0.2% following announcing on Friday morning that its board of directors approved the consolidated results for the third quarter and nine months, reporting a sharp decline earnings but announcing an upward revision of estimates for Ebit and cash flow for the full year, as well as an acceleration of the share buyback program.
Campari fell 1.4% following sharing its results for the first nine months of the year, with group profit for the nine months to September 30 at €473.8 million, down 2.0 % year-on-year to €483.3 million.
Net revenue was €2.20 billion, up 9.8% from €2.00 billion recorded during the same period in 2022.
Saipem gained 3.9% and takes first place. The company said on Wednesday it had revenue of 8.36 billion euros in the first nine months of the year, up 19% from 7.03 billion euros. recorded during the same period of the previous year.
As of September 30, adjusted EBITDA amounted to €640 million, an increase of 44% compared to €445 million recorded in 2022.
Pirelli & C lost 1.0% following the Public Investment Fund of Saudi Arabia and Pirelli Tire of the Pirelli Group, a global leader in tire production, announced on Thursday that they had signed a joint venture agreement to build a tire factory in Saudi Arabia.
PIF will hold a 75% stake in the joint venture, while Pirelli will hold the remaining 25% and will be a strategic and technological partner to support the development of the project, providing technical and commercial assistance.
STMicroelectronics closed in the red (3.7%) following rising 5% on Thursday, when it announced that it finished the third quarter of the year with net sales of $4.43 billion. dollars, up 2.4% from the previous quarter and 2.5% from the same period in 2022, when it stood at $4.32 billion.
Quarterly net profit was USD 1.09 billion, a slight decrease of 0.8% from USD 1.10 billion recorded during the same period in 2022.
Stellantis – down 2.0% – and Leapmotor announced on Thursday that Stellantis intends to invest around 1.5 billion euros to acquire around 20% of Leapmotor, of which Stellantis will become one of the main shareholders. The transaction also includes the creation of Leapmotor International, a 51-49 share joint venture led by Stellantis, which will have the exclusive right to export, sell and manufacture Leapmotor products outside the Chinese region.
UniCredit closed up 1.1%. On Thursday, the bank received approval from the European Central Bank to execute a tranche of its share buyback program for up to 2.5 billion euros.
FinecoBank gained 1.5 percent as S&P Global reaffirmed its “BBB” long-term rating with a stable outlook and maintained its “A-2” short-term rating.
Intesa Sanpaolo ended up 0.3% following announcing on Wednesday evening that the extraordinary tax calculated on the increase in net interest income amounts to around 828 million euros for the group and around 797 million euros for the parent company.
The board of directors has decided to propose to the general meeting of shareholders, when it approves the annual accounts, to allocate to non-distributable reserves an amount of approximately 1.99 billion euros, corresponding to 2.5 times the amount of tax of around 797 million euros.
On the midcap side, Fincantieri increased by 0.7%. This week, the company signed with the consortium coordinated by Naviris and bringing together the company, the French Naval Group, the Spanish Navantia and other Greek, Danish and Norwegian components, all the contractual documents relating to the modular patrol corvette and multirole for the implementation of the first phase of the European patrol corvette project.
The total value of this first phase amounts to €87 million and benefits from significant support from the European Commission through the European Defense Fund.
Maire Tecnimont lost 1.0% following reporting revenue of 3.08 billion euros for the first nine months of the year, up 23% from 2.51 billion euros recorded during the same period of the previous year.
As of September 30, net profit amounted to 88.6 million euros, up 44% from 61.4 million euros the previous year.
On the small cap side, Seri Industrial closed in the red (-3.8%) following announcing Thursday evening that the board of directors had revised certain figures for the first nine months of the year, which ended with a turnover of 127.3 million euros, down 10% compared to 140.7 million euros for the same period in 2022.
Elica gained 1.7%. During the first nine months of the year, the company recorded a normalized net profit of 11.7 million euros, compared to 17.1 million euros during the same period of the previous year, an increase drop of 32%.
As of September 30, revenues stood at €360.1 million, down 14% from €419.0 million recorded in 2022.
Edison saw its savings shares rise 2.1% following saying on Friday it closed the first nine months with revenue down to 14.10 billion euros, from 22.84 billion euros in during the same period of the previous year.
Among SMEs, Farmacosmo rose 1.4% following announcing on Thursday revenues of 52.5 million euros for the first nine months of the year, an increase of 14% compared to the same period of the year. ‘last year.
Allcore – up 3.1 percent – said on Thursday evening that it closed the first nine months of the year with consolidated revenues of 30.1 million euros, up 26.0 million euros during the same period of 2022.
Convergenze gained 6.8% following announcing on Thursday that it had closed the first nine months of the year with revenues of around 16.5 million euros, compared with 22.6 million euros during the same period in 2022.
In Asia, the Nikkei closed 1.0 percent in the red at 30,696.96, the Hang Seng fell 0.3 percent to 17,352.00 and the Shanghai Composite closed 0.0 percent in the green. 1 percent to 3,021.55.
In New York, the Dow Jones closed 1.1% in the red on Friday at 32,417.59, the Nasdaq rose 0.4% to 12,643.01 and the S&P 500 lost 0.5% to 4 117.37.
Among currencies, the euro traded at $1.0565 from $1.0579 as European markets closed on Friday, while the pound was worth $1.2127 from $1.2144 on Friday.
Among commodities, Brent oil was worth USD 89.54 per barrel compared to USD 88.42 per barrel at Friday’s close. Gold, meanwhile, is trading at USD 1,996.61 per ounce compared to USD 1,981.79 per ounce on Friday evening.
Monday’s economic calendar includes manufacturing data from Spain, at 1000 CET.
Eurozone consumer confidence will be released at 1100 CET, one hour following Germany’s gross domestic product data.
In the followingnoon, auctions of three- and six-month T-Notes will be held in the United States, at 1730 CET.
Among the companies in Piazza Affari, eyes will be on the results of Amplifon, Franchi Umberto Marmi, GEL, Lottomatica, Piaggio & C. and Technogym.
By Chiara Bruschi, journalist at Alliance News
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