2023-09-18 06:34:06
(Alliance News) – On Monday morning, the main European stock markets are expected to start the week lower, according to IG futures, while Brent continues to follow an upward trend, settling above USD 94 per barrel.
OPEC, the U.S. Energy Information Administration and the International Energy Agency predicted larger market deficits in the coming quarter as major producers kept global supplies tight, while global oil demand is expected to increase over the same period.
Beijing’s new stimulus measures and increased output at Chinese refineries, thanks to large export margins, have supported the demand outlook in the world’s largest crude oil importer. Meanwhile, investors remain cautious ahead of this week’s U.S. Federal Reserve policy decision, which is expected to keep interest rates stable, while remaining optimistic.
Thus, the FTSE Mib lost 55 points or 0.2 percent following closing up 0.1 percent at 28,895.39.
In Europe, the FTSE 100 in London is expected to lose 27.4 points, or 0.4%, the CAC 40 in Paris is expected to open in the red with 28.5 points, or 0.4%, and the DAX 40 in Frankfurt is given down 28.3 points, or 0.2%.
Among the smaller Italian stock markets, on Friday evening, the Mid-Cap closed down 0.2% at 41,051.59, the Small-Cap lost 0.6% at 26,592.08, and the Italy Growth fell 0.3% to 8,624.71.
In Milan on Friday evening, on the main list in Piazza Affari, Stellantis performed best with a gain of 1.9%. The performance did not drag down the Agnelli Galaxy, which closed mixed, with Iveco down 0.3 percent, Ferrari up 0.7 percent, CNH Industrial down 0.1 percent and Juventus on Mid losing 1.7 percent.
Iveco announced on Wednesday that Anna Tanganelli – who previously worked for Iren – will take up the role of financial director from December 1, succeeding Francesco Tanzi, who served as financial director during the Iveco group split and its first year and a half as an independent company.
Leonardo shares also performed well, up 1.6%. The company said on Tuesday that defense industry leaders from the United Kingdom, Japan and Italy signed a trilateral collaboration agreement to develop the conceptual phase of a next-generation fighter jet.
This agreement is part of the Global Combat Air Program, a collaboration between the three countries which aims to deliver a new generation combat aircraft by 2035.
The podium is completed by Telecom Italia, up 1.2%.
Unipol – unchanged at 5.22 euros per share – and UnipolSai – up 0.7% on the Mid – announced on Friday that they had purchased a total of 585,000 Unipol shares on September 11, 12 and 13 for a total of 3.0 millions of euros.
On the Mid-Cap, Cembre rose 3.5% following announcing a half-year profit of 23.9 million euros on Tuesday, an increase of 31% compared to the 18.2 million euros recorded during the same period last year.
SogGen looked at fashion stocks in the mid-range: it reduced its price target on Moncler, which was up 1.1 percent at the close on the main Piazza Affari list, to 69, 00 EUR versus 78.00 EUR with a “buy” recommendation.
She also reduced the target price of Tod’s – which fell by 1.4% – to EUR 42.00 from EUR 46.00 with a “hold” recommendation.
Salvatore Ferragamo also fell 0.5%. SocGen reduced its price target on the stock to EUR 10.00 from EUR 11.00 with a ‘sell’ recommendation.
Webuild – in the red by 2.0% – reported growth on Thursday in Australia, the group’s first non-domestic market, with 7.3 billion euros of orders won and being finalized in the country during of the first eight months of 2023, which brings the group’s order book in Australia to 13.3 billion euros.
On this basis, Webuild reached 21 billion euros of orders acquired and being finalized during the first eight months of 2023, bringing the group’s employment portfolio to a potential of more than 68 billion euros.
Sesa gained 4.6 percent. It announced on Thursday that in the first quarter ended July 31 it recorded an adjusted net profit of 26.5 million euros, compared to 23.8 million euros in the same period of the year former.
On the small-cap side, Beewize – in the green by 4.9 percent – announced on Friday that its board of directors had approved the condensed half-yearly consolidated financial statements as of June 30, reporting a loss of 673,000 euros, compared to a loss of 1.8 million euros in the first half of 2022.
Net turnover amounted to 2.65 million euros, in line with 2.59 million euros in the same period last year.
Bialetti Industrie rose 0.4 percent following reporting a first-half loss of 3.1 million euros on Thursday evening, a deterioration from the 2.0 million-euro loss recorded in the first half of 2022. The increase in loss, the company said in a note, was mainly due to higher financial costs linked to rising interest rates.
I Grandi Viaggi fell 0.5 percent. In the third quarter, the company saw its loss narrow by €2.0 million, an improvement on the net loss of €5.1 million recorded during the same period last year. Revenue as of July 31 increased to €32.2 million, compared to €24.4 million in the third quarter of 2022.
Orsero rose 1.3% following reporting adjusted net profit of 33.4 million euros in the first half of the year, up 57& from 32.4 million euros recorded during the same period in 2022. On Friday, the company announced the launch of a share buyback program for up to 70,000 shares, for a maximum amount of 1.0 million euros.
Among SMEs, ISCC Fintech gained 3.7 percent, following announcing on Thursday that the board of directors approved the half-year financial report showing a loss of 1.4 million euros, which compares with a loss of 839,537 euros in the first half of 2022. Turnover amounted to 1.4 million euros, compared to 1.1 million euros in the same period last year.
Italian Wine Brands grew by 2.8% thanks to a good half year, with a turnover of 196.8 million euros, up from 177.3 million euros recorded in the same period Last year. The profit amounted to 4.6 million euros, compared to 3.9 million euros in the first half of 2022.
In Asia, with Tokyo closed for Seniors’ Day, the Hang Seng is in the red with 1.2 percent and the Shanghai Composite is up 0.3 percent.
In New York, the Dow closed 0.8 percent in the red, the Nasdaq fell 1.6 percent and the S&P 500 fell 1.2 percent.
Among currencies, the euro changed hands at $1.0673 from $1.0671 as European stock markets closed Friday, while the pound was worth $1.2402 from $1.2400 late Friday.
Among raw materials, a barrel of Brent was worth 94.61 dollars once morest 93.81 dollars at Friday’s close. Gold, meanwhile, is trading at USD 1,929.33 per ounce compared to USD 1,949.15 per ounce on Friday evening.
On Monday’s economic calendar, at 1415 CEST from Canada comes data on new construction sites, the price index of industrial products and raw materials.
On the bond front, at 1130 CEST there is an auction of German Bubills at 12 months, at 1455 CEST in France there are auctions of BTF at 3, 6 and 12 months and in the United States at 1730 CEST there is has auctions of 3 and 6 month US Treasury bills.
Among the companies listed on Piazza Affari, the results of Growens, Health Italia are expected,
Juventus Football Club, Neurosoft et SS Lazio.
By Chiara Bruschi, journalist at Alliance News
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