Piazza Affari down slightly; TIM good on Mib.

(Alliance News) - Piazza Affari continues Monday's trading slightly down along with the other major European exchanges with the exception of London, where the FTSE 100 moves above par, on a day not particularly packed with macro and corporate events.

Thus, the FTSE Mib is down 0.3 percent to 30,275.57, the Mid-Cap gives up 0.5 percent to 43,632.96, the Small-Cap loses 0.4 percent to 27,025.48, and Italy Growth rises 0.1 percent to 8,107.78.

In Europe, London's FTSE 100 is in the green by 0.3 percent, Paris' CAC 40 gives up 0.3 percent and Frankfurt's DAX 40 loses 0.2 percent.

On Monday morning, the ifo economic research institute reported that sentiment among German companies dimmed in December.

The ifo index of business confidence fell to 86.4 points in December, down from 87.2 points in November.

Companies were less satisfied with their current business. They were also more skeptical about the first half of 2024, and as the year draws to a close, the German economy remains weak.

On the Mib, DiaSorin gives up 2.0% after opening down 5.0%. Of note, Jefferies cut its target price to EUR98.00 from EUR102.00. One share is now worth EUR90.08.

In the new business plan announced on Friday, the company expects, at constant exchange rates, revenues to grow by 5% in 2024 and 7% compared to the pre-pandemic period. During Covid, the statement said, revenues had been around EUR30 million. In the three-year period to 2027, the company expects single-digit CAGR growth.

Adjusted Ebitda margin to 2024 is expected to grow 32%-33% and to 2027 to grow 36%-37%.

The drivers of growth, the company writes, will be immunodiagnostics, molecular diagnostics, licensed technologies, and the progression of deleverage, which will enable "financing new growth opportunities.

Telecom Italia is confirmed at the top with 3.8 percent. The company was served with an ordinary writ of summons by Vivendi on Friday, challenging the legality of the board resolution approving the sale of the network to the U.S. fund KKR.

"It should be noted that Vivendi has not made any request for precautionary measures nor has it requested to urgently inhibit the execution of the resolution and the consequent negotiation acts," reads the TIM statement.

The activities envisaged by the agreements with KKR aimed at closing the transaction "will therefore continue as planned without delay or interruption," TIM further specifies.

Banco BPM, UniCredit, and Monte dei Paschi di Siena follow, rising 1.6 percent, 1.0 percent, and 0.9 percent, respectively.

At the bottom are Ferrari, in the red by 2.9%, and Amplifon, which gives up 2.0%.

Of note is the debut of Brunello Cucinelli on the Mib, with the stock down 1.1% as at the start. The stock takes the place of CNH Industrial, which will remain listed only in New York.

On the Mid-Cap, Fincantieri gives up 0.6 percent. On Friday it reported that Vard-a Norwegian subsidiary-has signed an agreement with an international customer to build a cable-laying ship. Delivery is scheduled for the fourth quarter of 2026.

The value of the contract is between EUR200 and EUR250 million.

Antares Vision rises 9.8 percent. The company announced Monday that it has appointed Jeremy Coote as the new Chief Executive Officer of its subsidiary rfxcel.

Coote will replace the resigning Glenn Abood, who holds 668,198 shares in Antares Vision. Coote joined ACSIS in 2010 as a board member and was appointed CEO in 2014. He has been a proponent of ACSIS' leadership in supply-chain ecosystem software. He has more than 25 years of experience as a recognized leader in ERP and supply-chain software; previously, he was president of SAP North America.

In addition, the company has also appointed Stephanie Sebile as rfxcel's new chief administrative officer and treasurer.

D'Amico, up 4.5 percent, and MutuiOnline, in the green by 2.4 percent, followed.

The Piaggio group -- in the red by 0.1 percent -- on Friday presented its "Decarbonization Plan," in which it pledges to implement concrete actions to help achieve the climate goals set by the European Union.

In continuity with the path taken so far, the Piaggio group's plan, developed with advice from the European Investment Bank, in line with the EIB PATH framework and the support of the consulting firm EY - contracted by the EIB - will allow the group to articulate actions to reduce Scope 1, 2 and 3 emissions over two time horizons: 2030 and 2050.

Among the small-cap companies, algoWatt gives up 1.1 percent after reporting that the board of directors analyzed the possible impacts on the group's activities due to the accentuation of the state of financial tension, as a direct consequence of the decision taken by a financial creditor to temporarily suspend the company's line of advances on active invoices.

This temporary suspension, motivated by the need to determine the company's creditworthiness as a result of the filing of the negotiated settlement procedure, could have an impact on the regularity of payroll payments to employees.

Digital Bros advances 5.6 percent followed by ePrice, which rises 4.8 percent.

Among SMEs, Radici Pietro Industries & Brands rises 3.6 percent after reporting Monday that it will end 2023 with revenues of EUR56 million, according to preliminary estimates reviewed by the board.

The figure is lower than the previously expected EUR59.7 million but is 4.6 percent higher than the 2022 figure

Illa is on the bottom, down 50 percent as at the open.

In Asia, the Nikkei closed Monday down 0.6 percent to 32,758.98, the Shanghai Composite gave up 0.4 percent to 2,930.80 and the Hang Seng closed down 0.9 percent to 16,635.00.

In New York on Friday evening, the Dow closed up 0.2 percent at 37,305.16, the Nasdaq rose 0.4 percent to 14,813.92, and the S&P 500 finished trading at a tie at 4,719.19.

Among currencies, the euro changed hands at USD1.0915 against USD1.0909 recorded in Friday's European stock close while the pound was worth USD1.2665 from USD1.2715 on Friday evening.

Brent crude is worth USD76.15 per barrel versus USD76.29 per barrel at Friday's close. Gold, on the other hand, trades at USD2,019.75 an ounce from USD2,048.85 an ounce Friday night.

Monday's macroeconomic calendar includes at 1200 CET, the Bundesbank's monthly report.

Overseas, at 1430 CET, Canada's New Home Price Index is released.

On the bond front, at 1455 CET, French three-, six- and 12-month BTF auctions will be held in France. From the US, at 1730 CET, it will be the turn of the three- and six-month Treasury bond auctions.

By Chiara Bruschi, Alliance News reporter

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