(Alliance News) – European stock markets–confirming the trend of futures–opened lower Tuesday after an active session on the eve of the event. On the economic data front, Germany’s annual inflation rate was confirmed at 2.0 percent in October by data released Tuesday by the Federal Statistical Office, accelerating from September’s three-and-a-half-year low of 1.6 percent and in line with preliminary estimates.
This was the highest inflation in three months, with services inflation accelerating to 4 percent from 3.8 percent in September, and food to 2.3 percent from 1.6 percent, and goods rebounding to 0.4 percent from a 0.3 percent decline.
Considering all stocks, only 13 percent of stocks are up, while 23 percent are down, unchanged 4 percent, and not traded 60 percent, with trading value around EUR311 million.
The FTSE Mib is thus giving up 0.8 percent to EUR34,074.37.
In Europe, London’s FTSE 100 is down 0.6 percent, Paris’ CAC 40 is giving up 1.0 percent as is Frankfurt’s DAX.
Among the smaller lists, the Mid-Cap is giving up 0.8 percent to 46,941.30, the Small-Cap is giving up 0.5 percent to 27,760.49, and Italy Growth is in the red 0.3 percent to 7,777.50.
On the highest-capitalization list in Piazza Affari, among the few bullish performers is still Leonardo, which is advancing 1.4 percent. It should be noted that IDV, the Iveco Group brand — which drops 0.3 percent — specializing in defense and civil defense vehicles, is entering the joint venture created by Leonardo and Germany’s Rheinmetall, Il Messaggero wrote Tuesday. IDV’s stake will be between 12 percent and 15 percent of the total assets of the joint venture, which will be responsible for the production of tracked combat vehicles for the Italian Army.
UniCredit — down 0.3 percent — announced Tuesday that it bought back 5.5 million of its own ordinary shares between Nov. 4 and 8. The shares were taken over at an average price of EUR40.4285 for a total value of EUR224 million. As a result of these transactions, the company holds 77.9 million shares or 4.8 percent of the share capital.
Mediobanca — in the red by 7.4 percent — on Tuesday reported that it closed the first quarter with a net profit of EUR330 million from EUR351.3 million in the same period last year ended Sept. 30, 2023. Net interest income stood at EUR485 million from EUR495.7 million as of Sept. 30, 2023.
A2A’s board of directors — down 0.1 percent — reviewed accounting data as of Sept. 30, closing with net income attributable to the group amounting to EUR713 million, up EUR288 million from the previous year, when it was EUR425 million. For the period under review, group revenues amounted to EUR9.09 billion, down 17 percent from the same period a year earlier.
On the Mid-Cap, Caltagirone is among the few bullish stocks, in the green by 1.0 percent, updating a new 52-week high at EUR6.28 per share.
Salcef, meanwhile, advances 0.2 percent, with results expected on Thursday and with price in the EUR25.90 per share area.
Tinexta, on the other hand, is giving up 3.3 percent to EUR7.70. The stock during trading updated its 52-week low to EUR7.65.
Sesa – in the red by 1.9 percent – reported Monday that it purchased 19,500 of its own ordinary shares between Nov. 4 and 8. The shares were taken over at an average unit price of EUR78.26 or so, for a total value of EUR1.5 million.
Fincantieri, on the other hand, falls 1.0 percent, following Monday’s 7.7 percent gain at the close. It is worth mentioning that the company reported Monday that it had successfully concluded the membership campaign for the company’s first widespread shareholding and co-investment plan, which saw significant participation of the group’s employees in Italy, Norway and the US.
On the Small-Cap, Newlat Food — ahead 4.6 percent — on Tuesday reported that it closed the first nine months with consolidated combined revenues of EUR2.03 billion, marking a group record. Net income for the period stood at EUR170.8 million, up from EUR18.2 million from the first nine months 2023.
Strength also on Centrale del Latte d’Italia, which posted a plus 1.5 percent. The company approved its Sept. 30 results, closing the period with a net profit result of EUR8.3 million, up from Sept. 30, 2023, whose figure was EUR6.3 million.
Eems is instead giving up 3.3 percent to EUR0.1824, heading for its third consecutive bullish candle.
Seco, on the other hand, is leaving 2.5 percent on the plate. The company and Raspberry Pi on Tuesday announced that they have signed a strategic business agreement aimed at expanding their business opportunities by collaborating on hardware and software development.
Seri Industrial, on the other hand, gives up 2.4 percent, following 0.2 percent red in the previous session. The stock on the MarketScreener platform–on the average of two analysts–is listed with a target price of EUR7.40 per share, thus being underpriced by nearly 152 percent.
Among SMEs, Adventure advances more than 10%, after eve’s decline of more than 13%.
Omer — in the green by 8.1 percent — on Tuesday announced that it has signed, through its subsidiary Omer North America Corp, a contract with Alstom involving the supply of technical and furnishing components for trains commissioned by Metra, a company that handles public transportation in the Chicago metropolitan area. The order awarded to OMER involves the supply of hatbox modules and ventilation systems for 221 coaches.
Strength also on Pharmacosmo, which scores plus 4 percent, after Monday night’s 7.7 percent drop.
Energy–declining 0.6 percent–reported Monday that it had taken an additional 13.5 percent stake in EnergyInCloud, in which it already held 73 percent. For the stake, taken over by a minority shareholder in the subsidiary, the company invested EUR20,000.
In New York yesterday evening, the Dow closed up 0.7 percent, while the Nasdaq rose 0.1 percent as did the S&P 500.
Among Asian exchanges, the Hang Seng closed by giving up 2.8 percent, the Shanghai Composite marked a 1.4 percent red, while the Nikkei left 0.4 percent on the parterre.
Among currencies, the euro changed hands at USD1.0619 from USD1.0640 in Monday’s European equities close. The pound is worth USD1.2795 versus USD1.2859 on Monday evening.
Among commodities, Brent crude is worth USD71.95 per barrel from USD71.88 per barrel on Monday evening. Gold trades at USD an ounce from USD2,602.31 an ounce last night.
On Tuesday’s macroeconomic calendar, at 1100 CET, from Germany, it is the turn of the ZEW business confidence index; at 1300 CET, from the US, the OPEC monthly report is scheduled to be released.
Among the companies in the Piazza Affari, B&C Speakers, Bialetti Industrie, De’ Longhi, FILA, Iren, and Zest, among others, are scheduled to report results.
By Maurizio Carta, Alliance News reporter
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