(Alliance News) - The Mib is bullish for the fourth session in a row, trading above the 28,300 level ahead of the important U.S. inflation data, with trading rooms pointing to a slowdown in U.S. inflation that will reinforce expectations for less restrictive monetary policies in the future.
Meanwhile, traders will also closely monitor speeches by various ECB and Federal Reserve officials during the course of the day.
Thus, the FTSE Mib, trades up 1.0 percent at 28,333.36.
The Mid-Cap is up 0.4 percent to 42,627.49, the Small-Cap is in the green 0.2 percent to 26,757.94, while Italy Growth advances 0.1 percent to 9,079.75.
In Europe, London's FTSE 100 advances 1.0%, Paris' CAC 40 rises 0.7%, and Frankfurt's DAX 40 advances 0.8%.
On the main index of Piazza Affari, Stellantis confirms itself in the high quarters by marking a plus 1.8%, heading for the fourth session on the bullish side.
Prysmian, on the other hand, rises 2.0% to EUR37.25 per share, taking its year-to-date assets over 41%. The company reported that it has signed a service level agreement with German-Dutch transmission system operator TenneT to provide nearshore and offshore inspection, maintenance and repair services for submarine cables transmitting high-voltage AC and DC power in the North Sea.
Jefferies raised the target price of STMicroelectronics to EUR43.00 from EUR33.00. The stock trades in the green by 4.2 percent to EUR46.24 per share taking the top spot in the bluechip segment.
Banco BPM - up 1.3 percent - announced Tuesday that the board of directors, in connection with the project to enhance the e-money business with NVP of more than EUR2 billion, resolved to grant exclusivity to FSI SGR Spa, Pay Holding Spa and BCC Pay Spa, after examining offers received "from leading operators in the sector."
The purpose of this exclusivity is to negotiate and define the terms and conditions of a potential partnership in the issuing and acquiring sectors, with the simultaneous activation of a joint venture, in whose capital the bank may enter with a significant stake, the company's note says.
On a negative note, Nexi is giving up 1.4 percent, grappling with a debt reduction plan that will go through the sale of non-strategic assets. The scenario remains positive after Fitch raised its rating last week, especially in relation to the ECB's plans on the digital euro. The company wants to focus on payment systems and is in the race to acquire the payment services of Banco BPM as well (starting at EUR600 million), after confirming a large customer such as Unicredit. Crucial, then, is the deleverage process.
According to Intermonte analysts, Nexi's strategy is to be supported, however, "the timing is unknown, especially for RatePay, whose business model has been severely impacted by the rate hike and whose valuation has dropped as a result.
On the Mid-Cap, the head of the list is for De' Longhi, which advances 3.2 percent to EUR20.62 per share toward its fourth session in a row in an uptrend.
Tod's, meanwhile, marks a plus 2.3 percent to EUR43.96 per share. Bryan Garnier upgraded the recommendation on Tod's to 'Buy' with a target price of EUR45.00.
Banca Popolare di Sondrio is equally on the highs, with a plus 1.5% repositioning price to EUR3.8980, placing it on the bullish side for the second in a row.
Tamburi Investment Partners - up 0.7 percent in letters - has entered into a club deal with some of Italy's leading family offices to purchase an additional 20 percent stake in Investindesign Spa, a company that holds a 46.96 percent stake in Italian Design Brands Spa, recently listed on Euronext Milan. The purchase of the stake - for a total consideration of EUR28.4 million - will be made by Club Design Srl, a company in which TIP itself has a 20% stake and other investors identified by TIP, at a price per share identical to that of the acquisition made in May by TIP.
On a negative note, doing worst of all is Carel Industries, which scores a minus 2.2 percent with new price at EUR26.50.
Rear-ends also for Saras, which retreats 2.1 percent after contracting with 0.5 percent on the eve.
On the Small-Cap, Bialetti moves ahead 3.2%, with price at EUR0.2890 on its second in a row from bullish.
High quarters also for Restart, which moves ahead 7.5% after two sessions in which selling prevailed.
TXT e-solutions -- up 0.2 percent in letters -- announced Tuesday evening that it had signed an agreement to acquire assets belonging to the Embedded Graphics business of Presagis Canada Inc, Presagis Europe SAS and Presagis USA Inc, subsidiaries of CAE Inc, a leading Canadian Aerospace & Defense company.
Chude list Softlab, trailing with 3.6 percent and new price at EUR1.61 per share and passive going over 15 percent on the weekly.
Among SMEs, however, Ediliziacrobatica advances 5.% to EUR16.70. The company reported Wednesday that in the first half of 2023 the number of new customer contracts grew by 50 percent compared to 2022. "This is an exceptional result that demonstrates great commercial strength, despite the blocking of the benefit of the assignment of credit," the company specified in a note.
Alfonsino, meanwhile, advances 8.5 percent to EUR0.77 per share, rearing its head again after three bearish sessions.
Fope--up 3.1 percent--reported Wednesday that the first half of 2023 ended with consolidated net revenues of EUR34.7 million, up EUR7.0 million, or 25 percent, from consolidated net revenues in the first half of 2022.
Franchetti's board of directors - down 1.1 percent - announced Wednesday that it had won EUR2.9 million in new orders in the second quarter of 2023. The group's order backlog as of June 30, 2023, amounted to about EUR24 million, registering an increase of more than 20 percent compared to last December's disclosure and allowing visibility on revenues to be extended into fiscal year 2025.
In New York overnight Europe, the Dow closed in the green by 0.9 percent, the Nasdaq closed ahead by 0.6 percent, and the S&P 500 finished up 0.7 percent.
Among currencies, the euro changed hands at USD1.1027 versus USD1.0991 in Tuesday's European equities close, while the pound was worth USD1.2927 from USD1.2896 Tuesday evening.
Among commodities, Brent crude is worth USD79.62 per barrel versus USD79.34 per barrel at Tuesday's close. Gold, meanwhile, trades at USD1,938.79 an ounce from USD1,937.55 an ounce on Monday evening.
On Wednesday's economic calendar, there will be a 12-month BOT auction at 1110 CEST in Italy.
As usual at 1300 CEST it is the turn of mortgages from the United States.
In the afternoon, also from overseas, comes U.S. inflation data for June at 1430 CEST.
By Maurizio Carta, Alliance News reporter
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