(Alliance News) - On Thursday, markets extend losses from the previous session, with traders concerned about the outlook for inflation and the potential impact of Trump's new trade tariffs.
In Milan, 11 percent of stocks are up, 22 percent down, 4 percent unchanged, while still 63 percent of stocks are not trading. The counter value of trades is just under EUR250 million.
Trading rooms are also reviewing the minutes of the latest FOMC meeting, which highlighted the Fed's concerns about inflation and signaled a slowdown in the pace of rate cuts.
Indeed, concerns about a slowdown in the U.S. Federal Reserve's rate-cutting process and uncertainties related to tariff threats from U.S. President-elect Donald Trump have dampened global market sentiment.
Among European economic data, exports from Germany -- the Old Continent's leading economic force -- rose 2.1 percent month-on-month to EUR127.3 billion in November, slightly above market estimates of a 2.0 percent increase, recovering from an upward revision of the 2.9 percent decline in the previous month. This was the first increase in exports in three months.
The FTSE Mib is thus giving up 0.3 percent to 34,998.42 points.
Among the smaller listings, the Mid-Cap is down 0.4 percent to 47,622.48, the Small-Cap is giving up 0.2 percent to 28,490.08, and Italy Growth is in the red 0.1 percent to 8,004.39.
London's FTSE 100 is giving up 0.2 percent, Paris' CAC 40 is in the red by 0.2 percent, and Frankfurt's DAX 40 is giving up 0.1 percent.
On the highest-capitalization list in Piazza Affari, strength on Pirelli, which moves ahead 1.5 percent to EUR5.66 per share, after a 1.0 percent decline on the eve of the day.
Good start also for Prysmian, which equally marks a plus 1.7 percent, after Wednesday's 0.2 percent decline. The company - which is continuing steadily with its buyback plan, most recently announced that it has taken over 3,000 of its own ordinary shares, with a total value of about EUR187,000.
BPER Banca - down 2.6 percent - announced that it has completed the placement of a EUR500 million senior non-preferred bond issue with a maturity of 6 years and the possibility of early redemption after 5 years, intended for institutional investors. The issue raised orders of up to approximately EUR2.7 billion from 145 investors. The annual coupon was determined to be 3.625%, with issue/re-offer price of 99.771%.
UniCredit -- in the red by 1.2 percent -- could offer up to EUR4 billion to acquire Banco BPM, with a proposal of EUR9.3 per share, representing a 20 percent premium to Banco's current value, as Il Sole 24 Ore writes Thursday.
This offer would be sustainable for UniCredit, which would maintain a CET1 of over 13 percent, preserving capital for the Commerzbank acquisition and continuing an advantageous capital allocation policy, the newspaper further continues. JPMorgan considers the acquisitions of Banco BPM and Commerzbank strategic, provided the premium does not exceed 20 percent and 15 percent respectively.
Hera -- down 0.1 percent -- on Wednesday successfully issued a EUR500.0 million green bond with a 6.5-year term, 3.25 percent coupon and 3.396 percent yield. Demand exceeded supply by 5.5 times, with orders amounting to EUR2.75 billion.
On the Mid-Cap, Alerion advances 3.6%, with new price in the EUR16.68 per share area, rearing its head after two bearish sessions.
Comer Industries, on the other hand, advances 1.0 percent, following up the previous session's 1.6 percent green.
Gamma Intermediate completed the placement of 24 million shares of Lottomatica, representing about 9.5 percent of the company's share capital, through a private placement via an accelerated bookbuilding offering. Lottomatica's stock is giving up 2.4 percent.
Iren, on the other hand, is giving up 0.3 percent. On Wednesday, Iren Mercato, a subsidiary of the Iren Group, signed a 10-year PPA purchase agreement with Statkraft, Europe's largest renewable energy producer, for the supply of electricity from solar sources, effective January 1, 2025.
Newlat Food--declining 0.2 percent--continues its buyback plan,. Most recently, it announced Tuesday that it bought back 13,500 of its own ordinary shares in December for a total value of EUR162,000 or so.
On the Small-Cap, strength on Gas Plus, which is up 4.7 percent, rebounding after three sessions in which it accumulated a loss of more than 10 percent.
Good buying also on Bastogi, which appreciates 2.7 percent bringing its price to EUR0.49. Italy's oldest remaining listed company rears its head again after a 2.0% loss on eve.
Mondo TV - in the red by 0.4 percent - reported on Wednesday that it had recently concluded several new agreements with Safe Media, one of the largest media distributors in the Middle East.
Beewize, on the other hand, gives up 2.7 percent, following Wednesday's 0.9 percent green at the close.
Among SMEs, purchases on ABP Novicelli, which appreciates 2.8 percent after two sessions closed with bearish candles.
The board of directors of Industrie Chimiche Forestali--still flat at EUR4.92--on Wednesday announced the start of the share buyback and disposition plan. The shares can be purchased in one or more instalments, up to a maximum of 1.24 million ordinary shares, representing 18.44 percent of the share capital.
Intred, on the other hand, is giving up 3.7 percent to EUR10.50 per share, after 5.8 percent green on the eve of the meeting.
In New York overnight Europe, the Dow closed in the green by 0.3 percent, the Nasdaq gave up 0.1 percent, and the S&P 500 picked up 0.2 percent.
In Asia, the Hang Seng was red by 0.2 percent, the Nikkei gave up 0.9 percent, and the Shanghai Composite gave up 0.6 percent.
Among currencies, the euro changed hands at USD1.0302 against USD1.0312 on Wednesday in closing European equities. In contrast, the pound is worth USD1.2291 from USD1.2363 last night.
Among commodities, Brent crude is worth USD76.21 per barrel from USD73.53 per barrel at Wednesday's close. Gold trades at USD2,665.50 an ounce from USD2,685.96 an ounce last night.
Thursday's macroeconomic calendar, predicts at 1430 CET, from the US, it is the turn of the unemployment claims report; at 1700 CET, the Bank of England's Breeden speech is expected.
In the evening, at 2230 CET, the Federal Reserve's balance sheet will be released from the US.
Among the companies in Piazza Affari, Directa SIM's results are expected.
By Maurizio Carta, Alliance News reporter
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