Mib in green before Easter; Asians down

(Alliance News) – European stock markets report a bullish trend in the fourth weekly session, joined by Milan, before the scheduled break for the Easter holiday.

Among macro news, it is reported that China’s services sector continued to rebound in March, according to the latest survey data on Thursday. The Caixin Services Purchasing Managers’ Index rose to 57.8 points in March from 55.0 in February, further crossing the 50-point threshold separating expansion from contraction.

This showed a strong acceleration in the pace of growth, marking the strong expansion seen since November 2020 and the third consecutive month of growth.

Thus, the FTSE Mib, marks a rise of 17.50 points, after closing down 0.6 percent at 26,867.39 last night.

In Europe, London’s FTSE 100 advances 15.00 points, Paris’ CAC 40 rises 7.80 points, and Frankfurt’s DAX 40 advances 11.50 points.

Among the smaller listings on Wednesday, however, the Mid-Cap closed down 0.4 percent to 43,494.47, the Small-Cap gives up 0.5 percent to 29,704.90, while Italy Growth loses 0.1 percent to 9,416.46.

On the main list of Piazza Affari last night, Snam did best of all, rising 2.7 percent after it announced that the sale of 11.5 million ordinary shares of Industrie De Nora to institutional investors has been completed.

The shares were sold at a unit price of EUR17.08, for a total consideration of EUR196 million. Initially, there were 10 million shares to be sold, but due to high investor demand, this number was increased to 11.5 million.

Also picking up is the entire energy sector, with Terna rising 2.3 percent, Hera gaining 2.2 percent, and Italgas up 2.1 percent.

Among the bearish Interpump Group, down 6.5 percent, Iveco in the red 5.7 percent, and Pirelli & C down 4.6 percent on the day the accounts are due.

On the Mid-Cap, Iren took the lead with 4.2% after receiving a EUR150 million loan from the EIB.

Technogym closed in the green by 0.3 percent — reported last week that the company in 2022 reported an adjusted profit of EUR66.1 million, up EUR14.9 million from EUR51.2 million in 2021. The board also proposed the distribution of a dividend of EUR0.25 per share for a total of EUR50 million. During the previous fiscal year, the dividend was EUR0.16 per share.

Total consolidated revenues were EUR721 million from EUR611 million in 2021.

Down went Buzzi Unicem, in the red by 2.6 percent.

On the Small-Cap, SS Lazio advanced well, posting a plus 3.2% following the previous two bullish sessions. On the Capitoline club, it is reported that it has announced that it has definitively acquired the right to the sports performance of footballer Diego Luis Gonzalez Alcaraz, from FC Celaya, affiliated with the Mexican Football Federation. The definitive sale includes fixed consideration of EUR1.1 million to be paid in two installments. Premiums, capped at EUR1.5 million will be paid to FC Celaya upon the occurrence of agreed sports conditions.

The Gas Plus board of directors — down 1.2 percent — approved the 2022 consolidated financial statements, which closed with a net profit of nearly EUR3.4 million compared to EUR3.1 million in the previous year. Revenues for 2022 reached EUR235.4 million compared to EUR84.8 million in 2021, a growth of 178 percent.

Monrif closed in the green by 1.3 percent.

Vincenzo Zucchi gave up 0.8 percent after announcing that it had closed the sale of its retail business to its subsidiary Bassetti Italia Srl. The business unit includes a complex of assets, namely assets and liabilities referring to stores, outlets and outlets, employees, contracts and other legal relations, and its value was determined on the basis of the assets and liabilities of the business unit as of December 31, 2022, and amounted to EUR6.4 million.

Among SMEs, Redelfi gave up 0.4 percent after announcing on Wednesday that it had sold a 49 percent stake in Piano Green Srl through its Swiss subsidiary Green Earth SA to Santagata 1907 Spa, which was also a founding partner of Piano Green. Redelfi, through Green Earth, remains a partner with 10 percent in Piano Green while Santagata 1907 rises to 62.5 percent, FOS Spa remains at 24 percent, and Fabienne Moretta holds the remaining equity stake of about 3 percent. Retaining a minority stake reflects, however, “the conviction about the goodness of the project carried out by Piano Green, whose aim is to contribute to a more sustainable and productive future, in line with the ESG values shared by Redelfi,” Redelfi explained.

Sebino – up 15 percent – reported that Sebino Holding, a vehicle controlled by Seta Holding, has signed a preliminary agreement to take over 85 percent of Sebino. Subject to the completion of the takeover, a mandatory full takeover bid will be launched on the remaining outstanding shares of Sebino, for a consideration per share of EUR7.20.

In New York–on the European night–the Dow rallied 0.2 percent, the Nasdaq gave up 1.1 percent, and the S&P 500 slipped 0.3 percent.

In Asia, the Hang Seng proceeds to close in the red by 0.3 percent, the Shanghai Composite retreats 0.2 percent, while the Nikkei closed down 1.2 percent.

Among currencies, the euro changes hands at USD1.0898 versus USD1.0922 at Wednesday’s close. In contrast, the pound is worth USD1.2452 from USD1.2474 on Wednesday evening.

Among commodities, Brent crude is worth USD84.72 per barrel versus USD84.89 per barrel on Wednesday evening. Gold, meanwhile, trades at USD2,016.03 an ounce from USD2,038.75 an ounce at Tuesday’s close.

On Thursday’s economic calendar, at 0930 CEST comes data on the construction sector in Italy, Germany, France, the Eurozone and the UK.

Overseas, at 1430 CEST it is the turn of unemployment benefit claims.

Among companies listed on the Stock Exchange, Greenthesis results are expected.

By Maurizio Carta, Alliance News reporter

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Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.

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