(Alliance News) – This Monday, Piazza Affari is moving in an upward trend, in line with other European stock markets, after last week’s strong liquidation. Traders started the week in a positive frame of mind, awaiting updates on the French political situation.
Later this week, the Bank of England is expected to confirm the current rate, with the swaps market predicting a first cut no earlier than August.
In today’s economic news, Chinese retail sales rose in May but industrial production growth slowed, official data released Monday showed, suggesting the recovery in the world’s second-largest economy remains uneven.
Retail sales, a key indicator of consumer spending, rose 3.7% year-on-year in May, following a 2.3% rise in April, according to the National Bureau of Statistics. This figure is also higher than the 3.0% increase predicted by a Bloomberg analyst survey.
Thus, the FTSE Mib advanced 0.6 percent to 32,856.32 euros.
Among the minor quotes, the Mid-Cap advances by 0.7% to 46,704.84 euros, the Small-Cap by 0.6% to 28,417.02 euros, while Italy Growth is in the green of 0 .2% to 8,060.26 euros.
In Europe, the FTSE 100 in London rose by 0.4%, the CAC 40 in Paris by 0.6% and the DAX 40 in Frankfurt by 0.5%.
On the blue chip list, BPER Banca got off to a good start, rising 2.3 percent to 4.46 euros per share, rebounding after five sessions of decline.
UniCredit, on the other hand, was up 2.1%, rebounding after two sessions of decline.
Tenaris – up 0.9% – said it had completed the third tranche of its $1.2 billion buyback plan and started the fourth. During the third tranche, the company repurchased 18.1 million of its own common shares, for a total value of $300 million. To date, the company holds 34.4 million treasury ordinary shares, which represents just under 3.0% of its share capital.
Banca Mediolanum – up 1.1% – announced on Friday that it had repurchased 496,000 of its own shares between June 10 and 14 for a total value of 5.3 million euros. Thus, the company holds 4.6 million shares, which represents 0.6% of the share capital.
Pirelli – in the green by 0.3% – announced on Friday that S&P Global Ratings had revised its rating on the company, confirming its BBB- investment grade and improving the outlook from “stable” to “positive”. In explaining the upward revision of the outlook, “the agency highlighted that Pirelli is well positioned to achieve its business plan for 2024-2025, has solid cost discipline and a strong positioning in large-scale tires. value that allows it to generate stable operating cash flow with significant deleveraging,” the company explained in a note.
ERG, on the other hand, fell 1.8% in its third session of decline. The title – which is in the red by around 15% in 2024 – is trading in the area of 24.42 euros.
On the midcap side, Rai Way rose 2.6%, setting the price at 5.15 euros per share.
OVS also progressed well, with an increase of 1.9%, returning to the rise after two sessions of decline.
Lottomatica, meanwhile, rose 0.8% to 10.65 euros per share. Redburn Atlantic initiated coverage on Lottomatica, rating it ‘neutral’ and setting a price target of 12.45 euros.
Among the few bearish contributors, Philogen is down 1.0%, following Friday’s 2.0% decline.
On the SmallCap, Newlat Food is up 5.4% at 10.4 EUR per share, after falling 0.4% on Friday evening.
Seri Industrial, on the other hand, is up 3.2%, with a new price at 4.18 EUR per share and is raising its head after two sessions closed with a loss.
Fiera Milano was up 3.1%, rebounding after five bearish sessions.
CY4Gate – in the money with 1.5% – announced on Monday that it had signed contracts worth a total of around 1.7 million euros through one of its subsidiaries for the renewal and the development of business intelligence solutions in foreign markets.
Among the bears, a minority in this list also, SS Lazio retreats by 3.0%, after two sessions ended among the bears.
Among SMEs, a boost to iVision Tech, which increased by 6.4% after two bearish sessions.
Emma Villas rose 3.6%, breaking a mini-downtrend of four sessions.
There was also good buying on Farmacosmo, which rose 3.3% to EUR 0.8160.
Among bearish traders, in a still uneventful list, CrowdFundme is dropping 4.8 percent, after two bullish sessions in which it rallied nearly 18 percent.
In New York on Friday evening, the Dow Jones fell 0.2 percent, the Nasdaq gained 0.1 percent and the S&P 500 closed just below par.
In Asia, the Nikkei lost 1.8%, the Shanghai Composite fell 0.6%, while the Hang Seng remained in the green for 0.1%.
Among currencies, the euro traded at $1.0702 from $1.0694 on Friday as European stock markets closed, while the British pound was trading at $1.2668 from $1.2678 late Friday.
Among raw materials, a barrel of Brent traded at 82.50 USD against 82.78 USD at Thursday’s close. Gold, meanwhile, is trading at USD 2,316.64 per ounce compared to USD 2,331.03 on Thursday evening.
On Monday’s macroeconomic calendar, an auction of three- and six-month U.S. Treasuries is scheduled before a late afternoon speech by FOMC member Harker in Europe.
Among the companies present in Piazza Affari, Zucchi’s results are awaited.
By Maurizio Carta, journalist at Alliance News
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