(Alliance News) – On Tuesday, Piazza Affari and major European stock markets are expected to lack momentum, teetering on the threshold of parity, with investors eyeing the Eurozone inflation figure due later in the morning .
Thus, the FTSE Mib is expected to lose 0.1 percent or 27.5 points after closing 1.3 percent lower at 33,758.43 points in Monday’s session.
In Europe, London’s FTSE 100 is expected to be in the green by 0.3 percent or 25.0 points, Paris’ CAC 40 is expected to be fractionally green or up 4.9 points while the DAX Frankfurt 40 is expected to open in the red split or down 13.7 points.
Among Italian minor quotes Monday evening, the mid-cap rose 0.1 percent to 46,865.62, the small cap gave up 0.8 percent to 26,987.66 and Italy Growth closed fractionally higher at 7,770.00.
Asian markets rebounded along with U.S. and European futures, while falling Treasury yields boosted stocks around the world. For Stephen Innes, managing partner at SPI Asset Management, the rate cut has amplified rumors of a possible Federal Reserve rate cut in December, fueling cautious optimism among traders and providing respite for risky assets.
On the commodities front, gold rose 1.9%, surpassing USD 2,600, thanks to the weak greenback and falling Treasury yields. According to Ahmad Assiri, strategist at Pepperstone, geopolitical risks and economic uncertainty reinforce the role of gold as a safe haven, with divergent forecasts: possible decline with Fed cuts or rise to USD 3,000 with more purchases by central banks.
On Piazza Affari’s list of largest caps, the strength of Banco BPM, which closed up 3.4 percent at EUR6.86 per share, in its third bullish session.
BPER Banca, which closed up 2.3% at 6.07 euros per share, was also good buying. The stock hit a new 52-week high of 6.14 euros per share during the session.
Generali – down 0.2% – announced on Monday that it had purchased treasury shares worth a total of 16.7 million euros between November 11 and November 15. Generali thus holds 45.0 million shares, or 2.9% of the share capital.
Enel – in the red by 1.3% – announced on Monday its strategic plan for the period 2025-2027, putting forward a clear vision of sustainable growth and the consolidation of the results obtained. The planned investments amount to 43.00 billion euros, an increase of 7.00 billion euros compared to the previous plan.
DiaSorin, on the other hand, closed 2.6 percent lower, following a 2.1 percent gain on Friday evening and with a new price at EUR 104.35.
On the mid-cap side, Digital Value gained 4.1%, after Friday evening’s green of 4.3%. Citadel Advisors increased its short position in the stock to 0.61% from 0.53% previously.
Berenberg raised its price target on El.En. at 13.00 euros against 12.40 euros with a ‘buy’ recommendation. The stock closed as the best performer on the list with a 4.5% rise to 12.13 euros, following a 2.0% gain on Friday evening.
The same German private bank also raised its price target on Buzzi Unicem to 42.00 euros, from 40.00 euros, with a recommendation from “hold” to “buy”. The stock closed down 0.7%.
Webuild – on a positive note with 0.2% – said on Friday that it closed the first nine months with 8.3 billion euros in new orders, of which more than 90% came from abroad, mainly from Australia, USA, Saudi Arabia and Europe. With the addition of other orders being finalized in the coming months, the company emphasizes that “the total orders envisaged for the entire 2023-2025 plan have already been fully acquired.”
The board of directors of Alerion Clean Power – which is in the green at 1.5% – decided on Monday to issue a senior unsecured, non-convertible and non-subordinated bond for a fixed rate equivalent of 200 million euros, with the possibility of increasing it by an additional maximum of 100 million euros, with a duration of six years from the date of issue, to be qualified as a green bond, intended both for general public in Italy and to qualified investors in Italy and institutional investors abroad, to be issued in the coming months. The bond will have a fixed interest rate of 4.75% on an annual basis, with semi-annual payments.
GVS, on the other hand, left more than 10 percent behind, after a 1.6 percent gain last session. The company announced on Thursday that it closed the first nine months with revenues of 326.8 million euros, up from 317.8 million euros recorded during the same period last year.
On the small cap side, I Grandi Viaggi closed up 7.3 percent, after falling 1.4 percent on Friday evening, with a price of EUR 1.11. The stock – which misses the ex-dividend date in 2019 – has a target price of 1.15 EUR on the MarketScreener platform from a single analyst.
Seri Industrial gained more than 6.9 percent to 2.96 euros. The company announced on Monday that its subsidiary FIB Spa, under the FAAM brand, has signed a framework agreement with Power4Future Spa, a Fincantieri group company, for the supply of lithium-ion batteries. The total value of the deal is 100.9 million euros.
EuroGroup Laminations fell 7.7%, after Friday’s 4.1% loss, which interrupted two sessions of gains. The company announced last week that it closed the first nine months with revenues of €649 million, compared to €644 million for the same period the previous year.
Itway, for its part, fell 6.3%. The company approved its interim activity report on Friday for the nine months to September 30, reporting a pre-tax result which fell from a profit of 639,000 euros to a loss of 392,000 euros, “mainly due to exchange losses made by the Turkish subsidiary,” the company said in the published note.
On the Italian market, Gismondi 1754 shares closed up more than 12% at 3.19 euros per share, after a fall of 3.0% during the previous session.
Compangia dei Caraibi instead rose by 3.8%, after falling by 2.8% in the previous session and closed at EUR 0.65 per share.
Omer – in the green by 1.5 percent – said on Monday that it had reviewed its management data for the first nine months of 2024, a period in which it reported total consolidated revenues of around 58, 4 million euros, up 23 percent compared to the same period in 2023.
IDNTT – stable at 2.84 EUR – announced on Monday a joint venture with Maurizio Rossi Production to transform Donnavventura, the historic travel television format, into a digital media company. The collaboration aims to enhance historical archives, create new omnichannel content and develop talent and influencers in the travel industry, promoting sustainable and innovative experiences.
In Asia, the Nikkei closed down 1.1%, the Hang Seng was 0.4% in the green and the Shanghai Composite finished 0.2% in the red.
In New York, the Dow Jones closed down 0.7%, the Nasdaq down 2.2% and the S&P 500 down 1.3%.
Among currencies, the euro traded at $1.0590 from $1.0569 at the close of European stock markets on Monday. The pound was worth 1.2672 USD compared to 1.2645 USD on Monday evening.
Among raw materials, a barrel of Brent is worth 73.32 USD against 72.98 USD Monday evening. Gold traded at $2,626.25 per ounce compared to $2,610.93 per ounce late Monday.
On the macroeconomic calendar for Tuesday, at 1000 CET, the euro zone will have the turn of the current account balance while at 1100 CET, the number one of the Bank of England, Andrew Bailey, will deliver a speech.
Still from the Eurozone, at 1100 CET, the focus will be on inflation figures.
At 2:30 p.m. CET, the United States will release construction sector data, including permits and new concessions.
At 2230 CET, the weekly oil stocks report will be released.
Among the companies, Franchi Umberto Marmi, iVision Tech and Laboratorio Farmaceutico Erfo are expected.
By Antonio Di Giorgio, journalist at Alliance News
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