(Alliance News) – European stock markets remained firmly in positive territory mid-session on Wednesday, after a clear victory for Donald Trump in the American presidential election emerged across the Atlantic.
Thus, the FTSE Mib increased by 0.6% to 34,681.54, the Mid-Cap gained 0.8% to 46,336.38, the Small-Cap advanced by 0.1% to 27,947.09 and Italy Growth was 0.2% in the red at 7,894.98.
The Parisian CAC 40 rose 1.2%, the Frankfurt DAX 40 rose 1.1% and the London FTSE 100 gained 1.2%.
From a macroeconomic perspective, Italy's tertiary sector extended its upward momentum in October, also pulling private sector activity into the positive, S&P Global reported on Wednesday.
Italy's services PMI rose to 52.4 points in October, up from 50.5 points in September, marking the biggest expansion since June.
In Germany, factory orders rose 4.2 percent month-on-month in September, beating market expectations of 1.5 percent and following the previous month's downwardly revised 5.4 percent decline. , the strongest since January, while the services PMI rose to 51.6 points in October, from 50.6 points in September, and above preliminary estimates of 51.4, as published S&P Global on Wednesday.
On the currency front, Trump's victory is pushing the greenback, which is strengthening against the euro and major currencies.
“Market rumors about the EUR/USD parity are becoming more insistent,” explains Stephen Innes – managing partner at SPI Asset Management – “as traders consider the possibility that Europe will erect its own trade barriers to protect jobs and local industries.”
On Piazza Affari's largest-cap list, the best performance at midday was for Tenaris, which rose 5.8%.
DiaSorin followed, up 4.4%. Yesterday, the pharmaceutical blue chip indicated that it had closed the first nine months of the year with a profit of 141 million euros, compared to 112 million euros as of September 30, 2023.
For the six-month period, revenues amounted to €876 million, compared to €846 million in the first nine months of 2023.
STMicroelectonics – up 4.2% – and Leonardo – up 4.3% – also performed well during the half-year.
Eni – up 0.4% – reported on Wednesday that Plenitude had started production at its Bouillac solar power plant, which is located in the town of the same name in Dordogne (France) and has an installed capacity of 5 MW.
UniCredit slowed after the open and was in the green by 0.1%. The Piazza Gae Aulenti bank's net profit increased to EUR 2.51 billion in the third quarter, compared to EUR 2.32 billion in the same period of the previous year, and to EUR 7.75 billion. EUR, compared to EUR 6.70 billion in the first nine months of the year.
Gross operating margin increased from EUR 3.64 billion to EUR 3.85 billion in the third quarter and from EUR 10.88 billion to EUR 11.95 billion over nine months.
The CET 1 ratio was 16.1% as of September 30, compared to 17.2% at the end of the third quarter, while the RoTE was 19.7%, compared to 18.3%.
In addition, the board of directors approved the distribution of an interim dividend for 2024 of 1.44 billion euros, or 92.61 cents for each of the 1.6 million shares outstanding. The interim dividend will be paid on November 20, with the ex-dividend date being November 18.
At the bottom of the main list is Inwit, down 2.8%. Last night, while the markets were closed, the company announced that it had closed the first nine months of the year with a net profit of 266 million euros, up 6.9% from 248, 9 million euros recorded as of September 30, 2023.
Consolidated turnover for the period amounted to €772.1 million, compared to €713.2 million for the first nine months of 2023.
Furthermore, JPMorgan lowered its price target on the stock to 13.00 EUR from 14.10 EUR, with an 'overweight' recommendation.
On the midcap side, Digital Value continued its early rebound, gaining 8.7%.
Credem also performed well, up 7.4%. The bank reported on Tuesday that it closed the first nine months with net profit up 11% year-on-year to 485.9 million euros compared to 439.0 million euros in the same period. last year.
Angelo Campani, Managing Director of Credem, said: “We are well equipped to face the coming months in the best possible way, thanks to the quality and commitment of our employees and strengthened by a business model to which we we firmly believe, based on the scale and diversification of the offer, as well as constant investments in innovation and digitalization, always paying great attention to the sustainability of our operations”.
Buzzi is also on the podium, up 5.9%, despite revenues of €3.18 billion in the first nine months, down from €3.20 billion recorded during the same period of the previous year.
Sales volumes of cement and ready-mixed concrete fell by 6.4% and 7.6% respectively, “penalized by the difficult market environment in Central Europe and the lack of recovery in Italy and in the United States during the summer months,” the company said.
On the small cap side, Olidata recovered part of the losses suffered in recent sessions after its involvement in the Sogei investigation. The stock was up 3.6% at midday.
Industrie De Nora, lost 1.9%. The company closed the first nine months of the year with a net profit of 52.5 million euros, compared to 198.6 million euros as of September 30, 2023.
The figures as of September 30 last year included 133.2 million euros in net revenue from the listing of the thyssenkrupp nucera joint venture. The company explained in a note that after deducting these products, the result would have been 65.4 million euros.
Somec was also down 2.8%. The company announced on Tuesday that its American subsidiary Fabbrica, part of its Horizons division, engineering systems for naval architecture and civil facades, had signed two new agreements worth 50 million euros.
Ulysses Biomed – up 6.7% – topped the SME list at mid-session.
Idntt – up 2.8% – is also in the race after announcing on Wednesday that the first video game from its subsidiary IDNTT+, “The Island of the Hagfish by Cicciogamer89”, a fantastic universe from the imagination of creator Cicciogamer89 and created in Fortnite, will launch on December 1st.
Datrix – up 1.9 percent – reported on Wednesday that it had received some 900,000 euros in PNRR funds.
Pozzi Milano lost 1.9% after announcing on Tuesday that it had secured an order worth more than 1.6 million euros to supply products to Poland.
The worst stock on the list, Solid World Group, fell 10 percent.
In Asia, the Nikkei closed 2.6 percent higher at 39,480.67 on Wednesday, the Shanghai Composite lost 0.1 percent to 3,383.81 and the Hang Seng closed 2.2 percent lower. hundred to 20,538.38.
In New York, the Dow closed 1% higher at 42,221.88, the Nasdaq rose 1.4% to 18,439.17 and the S&P 500 gained 1.2% to 5,782.76.
Among currencies, the euro changed hands at $1.0747 from $1.0918 as European stock markets closed Tuesday. The pound is worth 1.2890 USD compared to 1.3016 USD last night.
Among raw materials, a barrel of Brent is worth 71.17 dollars against 76.11 dollars Tuesday evening. Gold is trading at $2,732.50 per ounce compared to $2,749.00 per ounce last night.
On Wednesday's economic calendar, US 30-year mortgage data is released at 1300 CET while crude oil inventory data is due at 1630 CET.
By Antonio Di Giorgio, journalist at Alliance News
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