(Alliance News) – Stock markets in the Old Continent continued their downward trend on Friday, after recording good gains during the previous session.
On the macroeconomic front, in Germany, the manufacturing sector contracted at a much faster rate, weighing on the composite PMI. In France, both the manufacturing and services PMIs fell unexpectedly, indicating a deeper contraction.
So the FTSE Mib was down 1.1% at 33,297.55.
Among the minor quotes, the Mid-Cap lost 0.9% to 47,179.96, the Small-Cap lost 0.8% to 28,869.99 while the Italy Growth moved in the red by 0.2% to 8,123.32.
In Europe, the FTSE 100 in London is in the red by 0.9%, the CAC 40 in Paris is down 0.4%, while the DAX 40 in Frankfurt is down 0.5%.
In Piazza Affari, among the few bullish stocks, Saipem progresses by 1.2 percent with a new price of 2.15 euros per share, after the green of the day before which closed with an increase of 1.9 percent.
Hera also progressed well, with an increase of 1.4%, following the previous day’s gain of 2.0%.
At the back of the pack is STMicroelectronics, which is down 1.7% to 37.76 euros after a gain of 0.6% the day before.
Moncler drops 0.4%. Morgan Stanley reduced its price target to 58.00 euros from 65.00 euros. Barclays, on the other hand, raised it to 66.00 euros, compared to 68.00 euros previously.
UniCredit – in the red by 2.7% – announced on Friday that it had completed the second tranche of its 2023 repurchase program. The bank repurchased a total of 44.9 million of its own ordinary shares during the second tranche, representing 2.7% of its share capital, for a total value of 1.59 billion euros.
In the cadet segment, SAES Getters made good progress, with an increase of 1.1 percent, following a redline of 0.9 percent the day before.
Ferretti, on the other hand, rose 0.5%, following a 0.3% decline the previous day. The stock, which trades in the region of 2.96 euros, has a VWAP – volume weighted average price – of 3.05 euros over 30 days.
Maire Tecnimont – down 1.7% – said Thursday that NextChem, through its subsidiary NextChem Tech, will act as the technology design integrator to develop the process design package for the manufacturing unit. recovery of hydrogen and carbon dioxide from the Hail and Ghasha development project. The Hail and Ghasha project, which was awarded to Tecnimont – Maire’s Integrated E&C Solutions – by ADNOC in October 2023 for a total value of USD 8.7 billion, is one of the most strategic initiatives globally for the decarbonization of the energy transformation industry, the company explained in a note.
Fincantieri – down 0.6% – announced that the shares for the 400 million euro capital increase will be offered at 2.62 euros each. The company will issue a maximum of 152.4 million new shares, at a rate of nine new shares for every ten held. The price represents a discount of 32% compared to the theoretical ex-law price. The total counter-value of the offer will therefore be 399.3 million euros.
Intercos, on the other hand, fell 5.5%, subject to profit taking after five sessions ended on the rise.
On the small cap side, Conafi rose 7.8% to EUR 0.2360, recovering after two sessions of decline.
There was also good buying on Exprivia, which rose 1.1%. The stock – which misses its 2022 ex-dividend date – is trading on the heels of the previous day’s gain, which closed up 4.4 percent.
doValue – down 1.6% – said that, following the announcement of the binding agreement to acquire Gardant, S&P Global Ratings and Fitch Ratings have affirmed the issuer’s credit rating and rating of default of the company’s issuer to “BB”, with a “stable” outlook. The rating and outlook confirmation reflects the expectation that the integration of Gardant will allow doValue to reduce leverage, according to the released note.
Aedes, on the other hand, fell 4.2 percent to 0.23 EUR after greening 4.2 percent in the previous session.
Among SMEs, IMD International Medical Devices gained 2.2% after two sessions closed with bearish candlesticks.
Comal – up 2.9% – announced on Friday that it had won an order worth 1.2 million euros from an Italian operator for the supply of its Sun Hunter tracker.
Kruso Kapital fell 5.1%, heading into its third closing session in a bearish direction.
Matica Fintec fell 3.2%, breaking a four-session mini-downtrend.
Among currencies, the euro changed hands at $1.0694 from $1.0718 on Thursday as European stock markets closed, while the British pound was worth $1.2652 from $1.2675 late Thursday.
Among commodities, Brent traded at USD 85.59 per barrel compared to USD 85.40 per barrel at Thursday’s close. Gold, meanwhile, is trading at $2,360.7 per ounce compared to $2,369.60 last night.
In New York, the Dow Jones gained 0.8%, the Nasdaq lost 0.8%, while the S&P 500 fell 0.3%.
In Asian stock markets, the Nikkei fell 0.1%, the Hang Seng closed 1.8% lower and the Shanghai Composite fell 0.2%.
The macroeconomic calendar for Friday includes retail sales and the commodity price index at 1430 CEST in Canada.
The US Composite PMI will be released at 1545 CEST.
By Maurizio Carta, journalist at Alliance News
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