(Alliance News) - At mid-day on Thursday, major European indexes are holding steady in positive territory, with Piazza Affari touching 36,000.
Thus, the FTSE Mib is up 0.9 percent to 35,964.13, the Mid-Cap is up 1.0 percent to 47,828.54, the Small-Cap is in the green 0.2 percent to 28,068.19 while Italy Growth picks up 0.1 percent to 7,871.91.
London's FTSE 100 is in the green by 0.9 percent, Paris' CAC 40 is up 2.0 percent, and Frankfurt's DAX 40 is up 0.2 percent.
On the macroeconomic front, in Italy, inflation remained stable on a year-on-year basis in December, with the national consumer price index for the entire community, before tobacco, rising 0.1 percent compared with a 0.1 percent drop in November, according to data provided Thursday by Istat.
On an annual basis, inflation remained stable at 1.3 percent, the same as in the previous month and confirming the preliminary estimate.
Also in Italy, November saw a trade surplus that was lower than estimated and down from the previous month.
Italy's trade balance with foreign countries in November posted a surplus of EUR4.22 billion, down from EUR5.07 billion recorded in October and below FxStreet's estimates of EUR4.50 billion.
In the eurozone, early estimates show a EUR16.4 billion surplus in goods trade with the rest of the world in November, down from EUR18.2 billion in November 2023.
Over the same period, eurozone goods exports to the rest of the world were EUR248.3 billion, down 1.6 percent from November 2023 when it was EUR252.4 billion, while imports from the rest of the world stood at EUR231.9 billion, down 1.0 percent from November 2023 when it was EUR234.2 billion.
Returning to Milan, on the highest-capitalization list in Piazza Affari, Moncler has firmly held the top spot since the open and is now up 8.8 percent. Of note, Barclays downgraded the stock to 'equal weight' from 'overweight' and cut its target price to EUR56.00 from EUR61.00 previously.
Nexi, in the green by 2.8 percent, and Brunello Cucinelli, up 2.7 percent, are doing well.
Leonardo rises 2.4%, after hitting a new 52-week high during the session at EUR28.70 per share.
Generali - in the green by 0.9% - aims to become the top foreign insurer in Spain by 2027, overtaking Zurich, Axa and Allianz, as Milano Finanza writes Thursday.
Azimut - up 0.8 percent - reported Thursday that, based on early summary data and estimated results, it expects to close the 2024 fiscal year with a net profit of about EUR600 million, placing it at the higher end of the target revised in November.
Total net inflows for 2024 amount to EUR18.3 billion and far exceed the annual target of EUR14 billion set in the last revision last July.
Telecom Italia leaves the tail end of the main list and turns positive, up 0.3 percent. The company won a legal battle against partner Vivendi over the sale of the network to the KKR fund for EUR18.8 billion. The Milan court rejected Vivendi's appeal, which challenged TIM's board resolution on the sale, holding that it should go through the approval of the extraordinary shareholders' meeting and obtain the opinion of the related parties committee.
However, the judges deemed the appeal inadmissible, as Vivendi did not show interest in calling the meeting or blocking the sale.
Saipem rises 0.2 percent, after closing at the bottom of the Mib on Wednesday's session, with more than 14 million pieces changed hands.
Among the bearish, Italgas gives up 0.3%, and Snam drops 0.5%.
On the Mid-Cap, Salvatore Ferragamo is up 7.2%, in its second bullish session.
De' Longhi - up 5.5 percent - announced Wednesday the start of a share buyback plan for a maximum amount of about EUR60.0 million, or 1.4 percent of share capital.
OVS -- up 2.7 percent -- and Unigross are preparing a joint bid to take over Conbipel, the financially troubled historic clothing chain, which includes about a hundred stores and employees, Il Corriere della Sera wrote Wednesday. OVS would acquire the larger stores, turning them into stores with its own brands, while Unigross would take over the smaller ones.
Fincantieri -- in the green by 1.2 percent -- announced that it has completed the acquisition of Leonardo's Underwater Armament Systems business through the purchase of the entire share capital of the newco WASS Submarine Systems.
The total value of the transaction, announced on May 9, is EUR287 million, with a possible maximum adjustment of EUR415 million, depending on future results.
At the tail end, Banca Ifis is down 2.4 percent, in its second bearish session. According to a report in La Repubblica on Thursday, Banca Sella Holding has opened to the bank's valuation of its offer on illimity Bank--down 1.5% on the small-cap--in which it holds 10%.
On the small-cap, strength on Seri Industrial, ahead 5.2 percent.
Good on Bastogi, in the green by 4.2%, in its second bullish session.
Among bullish turnarounds, Aedes advances 4.5%, Aeffe rises 3.3%, and Netweek gains 3.2%.
GPI - in the green by 2.6% - announced Wednesday that it has approved its new 2025-2029 business plan, with a focus on growth and innovation.
The company expects revenues to exceed EUR600.0 million by 2027, with an Ebitda margin above 22% and compound annual growth above 8.0%. By 2029, revenues are estimated at more than EUR700.0 million, with an Ebitda margin of more than 25 percent. The weight of the Software area will increase from 65% in 2027 to 68% of total revenues in 2029.
Title suspended for Bestbe Holding, after more than 160,000 shares traded, with a theoretical decline of 13%.
Among SMEs, Fope did well, in the green by 6.7 percent, after it reported Thursday that it closed fiscal year 2024 with consolidated net revenues of EUR73.4 million, up 10 percent from EUR66.8 million in 2023.
Net financial position is EUR3.3 million positive, an improvement of EUR3.3 million from the previous year.
STAR7 falls back into negative territory and loses 3.2 percent, after having moved ahead 7.9 percent at the opening. The company reported that it has completed the final acquisition of the Consulting Automotive Aerospace Railway and STI businesses, both of which are in judicial liquidation.
In Asia, the Nikkei closed up 0.3 percent at 38,572.60, the Shanghai Composite finished in the green by 0.3 percent at 3,236.03, and the Hang Seng closed up 1.2 percent at 19,522.89.
In New York last night, the Dow advanced 1.7 percent, the Nasdaq closed in the green by 2.5 percent, and the S&P 500 up 1.8 percent.
Among currencies, the euro changed hands at USD1.0292 versus USD1.0304 in Wednesday's European equities close. In contrast, the pound is worth USD1.2207 from USD1.2257 last night.
Among commodities, boost on oil, with Brent crude worth USD78.46 per barrel from USD81.02 per barrel in Wednesday's European stock close. Gold trades at USD2,737.26 an ounce from USD2,680.37 an ounce Wednesday evening.
Thursday's macroeconomic calendar calls for retail sales and jobless claims data from the US at 1430 CET. At 1600 CET, natural gas stocks data will be released while the day will close with the Federal Reserve's balance sheet, due at 2230 CET.
By Antonio Di Giorgio, Alliance News reporter
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