Mib in the red; Buzzi leads gains, Ferrari at the bottom

(Alliance News) - On Thursday, at the opening, the main European indices are moving in different directions, with the Italian stock market falling below 43,400 points, with the MIB feeling the pressure of banking stocks, while the smaller indices are advancing.

London recorded the worst performance at the start of trading, while Paris marked positive territory, awaiting President Macron's announcement of the new prime minister following the surprise resignation of Sébastien Lecornu and his government.

Thus, the FTSE Mib is down 0.4% to 43,325.22, the Mid-Cap is up 0.1% to 58,458.75, the Small-Cap is up 0.7% to 38,011.52, while Italy Growth is up 0.4% to 8,864.82.

The FTSE 100 in London is down 0.3%, the CAC 40 in Paris is up 0.3%, and the DAX 40 in Frankfurt is up 0.4%.

On the macroeconomic front, Germany's trade surplus rose to EUR17.2 billion in August, compared to July's upwardly revised EUR16.3 billion, exceeding expectations of EUR15.2 billion.

This is the highest trade surplus since May.

Back in Milan, on the Piazza Affari's highest capitalization index, Buzzi took the lead at the opening, up 1.8% with around 100,000 shares traded.

Telecom Italia performed well, up 1.6%, recovering from the previous day's losses.

DiaSorin fell 0.3% to EUR78.90 per share. Deutsche Bank cut the stock's target price to EUR109.00 from EUR120.00 with a 'buy' recommendation.

Hera acquired Ascopiave's 3% stake in Hera Comm, which was acquired as part of the partnership launched with the Bologna-based group in December 2019. The transaction, worth approximately EUR 55 million, reflects the valuation attributed to the company at the time of the agreement, as specified by Ascopiave.

Hera rose 0.4%, while Ascopiave gained 0.3% on the Mid-Cap index.

Stellantis - up 1.1% - announced on Wednesday new appointments to its Leadership Team, "buoyed by the positive momentum recorded in recent months and ahead of the upcoming presentation of the updated strategic plan scheduled for 2026," as the company wrote in a statement.

Specifically, Emanuele Cappellano has been appointed Head of Enlarged Europe and European Brands, in addition to his current role as head of Stellantis Pro One. Jean-Philippe Imparato will focus entirely on enhancing the performance of Maserati, as CEO, and Stellantis & You, reporting to Cappellano.

Among the decliners on the list are banking stocks, with Mediobanca down 0.8%, FinecoBank down 0.9%, and UniCredit down 1.5%.

Among others, Eni is up 0.8%, after closing four trading sessions in positive territory, and Leonardo is down 0.8%.

Ferrari was at the bottom of the main index at the start of trading, down 1.8%, following Wednesday's losses.

On the Mid-Cap index, Cementir Holding and Italmobiliare led the gains, up 5.1% and 2.8%, respectively.

MAIRE is also performing well, up 1.4%, marking its sixth consecutive day of gains.

Acea, through a.Gas, had looked at various ATEMs but did not submit any binding offers in the sale of the 600,000 redelivery points imposed on Italgas after the acquisition of 2i Rete Gas. Ascopiave, on the other hand, submitted proposals for some ATEMs between Veneto and Lombardy, bolstered by its recent exit from Estenergy. The AGCM will announce the outcome shortly, and Italgas expects the green light by mid-October.

Acea is up 0.4%.

Banco di Desio e della Brianza - down 0.4% - announced that it has successfully completed the placement of its inaugural issue of a EUR300 million senior preferred bond, maturing in January 2031 and with a first call date in January 2030.

Ferretti is facing speculation about a corporate restructuring and tensions between Chinese shareholder Weichai and CEO Alberto Galassi. Some Gulf sovereign wealth funds are showing interest, but Weichai does not intend to exit. The shareholder accuses Galassi of centralizing control, while friction has worsened after the discovery of a wiretapping system in the Milan offices last June.

The stock is down 0.3% at the opening.

GVS is at the bottom of the secondary market, down 1.5%.

On the Small-Cap index, Beewize is performing best at the start, up 8.8%.

On the other side of the index, SIT fell 3.7% after two consecutive sessions of gains.

Among the most traded stocks by value, Trevi Finanziaria Industriale gained 0.6%, while FILA rose 1.2%.

Eems Italia, down 2.1%, announced that Francesco La Fauci, independent director and chairman of the Management Control Committee, has resigned from his position for personal reasons.

Seco, up 2.8% on Thursday, announced that it had launched Clea Vend, its telemetry platform offering a range of connectivity options, enabling an increasing number of vending operators to reduce costs and increase revenues.

Among the SMEs with the highest trading value at the opening, Arterra Bioscience traded up 5.4%, reaching a new 52-week high of EUR3.50.

Mare Engineering Group announced that it has decided to launch a voluntary public tender offer for Eles Semiconductor Equipment, aimed at acquiring all of the company's shares, excluding the 5.2 million already held.

Mare rose 1.0%, while Eles fell 0.4%.

Siav - flat at EUR2.08 - announced on Wednesday that it had completed the placement of a EUR2 million bond, fully subscribed by Banca Valsabbina, which acted as the sole investor and also covered the main roles related to the issuance and management of the security.

VNE - flat at EUR2.70 - announced on Wednesday the appointment of Matteo Genoni as its new investor relations manager. Genoni takes over from Fiaschi, the current chief financial officer.

At the bottom of the alternative list is Vinext, down 4.2%.

Porto Aviation Group and Officina Stellare shares are suspended due to volatility after theoretical increases of 13% and 16%, respectively.

In New York on Wednesday evening, the Dow closed fractionally down at 46,601.78, the Nasdaq advanced 1.1% to 23,043.38, while the S&P 500 gained 0.6% to 6,753.72.

In Asia, the Nikkei rose 1.8%, the Shanghai Composite was up 1.3%, while the Hang Seng was down 0.2%.

On the currency front, the euro is trading at USD 1.1614 from USD 1.1609 at Wednesday evening's stock market close, while the pound is trading at USD 1.3357 from USD 1.3424 last night.

Among commodities, Brent crude is trading at USD 66.47 per barrel from USD 66.50 per barrel at yesterday evening's close, while gold is worth USD 4,028.00 per ounce from USD 4,047.59 per ounce yesterday evening.

On Thursday's economic calendar, the Eurogroup meeting is scheduled for 1200 CEST.

At 1:30 p.m. CEST, the ECB will publish the minutes of its monetary policy meeting, while at 2:30 p.m. CEST, Fed Chair Jerome Powell is expected to give a speech with further data on the labor market.

No significant announcements are expected from the Italian stock exchange.

By Antonio Di Giorgio, Alliance News reporter

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