(Alliance News) - Piazza Affari closed Thursday's session sharply lower, in line with the performance of other European stock market hubs, on a day marked by disappointing macro data, including the services PMI of the major economies and Eurozone retail sales.
The U.S. services PMI was revised slightly upward to 54.4 points in June from the preliminary figure of 54.1 points, continuing to indicate a solid services performance, as released by S&P Global Thursday afternoon.
The U.S. composite PMI-an average of manufacturing and services data-was revised upward to 53.2 points in June from the preliminary estimate of 53.0 points. However, the figure remained below the May figure of 54.3 points, indicating a solid but slower recovery in economic activity.
The FTSE Mib closed down 2.5 percent to 27,506.91, the Mid-Cap lost 1.9 percent to 41,681.48, the Small-Cap gave up 1.7 percent to 26,507.17, and Italy Growth gave up 0.5 percent to 9,015.05.
In Europe, London's FTSE 100 closed down 2.2 percent, Paris' CAC 40 finished down 3.3 percent and Frankfurt's DAX 40 gave up 2.7 percent.
On the main list in Piazza Affari, with the exception of FinecoBank, which closed up 6.0 percent, and Recordati, up 0.2 percent, all other companies in the basket finished the session sharply lower.
Amplifon did worst of all, losing 5.6 percent, followed by STMicroelectronics, down 5.2 percent.
The hearing implants company did not benefit from the news of its entry as main partner in Next Age, the first accelerator in Europe that invests in startups developing products or solutions dedicated to the silver economy.
Next Age is part of the national CDP Venture Capital accelerator network, a network that now has 18 hubs throughout the country to promote and support the growth of young companies specializing in high-potential markets.
Ferrari gave up 2.8 percent after announcing that it has launched an offer aimed at bondholders of the EUR650.0 million loan maturing in 2025, for a maximum of EUR175.0 million.
The offer is being made as part of the active management of the company's financial liabilities and is intended to proactively manage the upcoming repayments and maturity profile of the company's debt. Ferrari intends to cancel all notes that were accepted for purchase.
The Ferrero family has decided to write down its stake in Mediobanca--down 2.3 percent--in a EUR6 million adjustment that is not the last such transaction by the Alba confectionery dynasty in recent years.
On the Mid-Cap, Acea lost 3.3 percent after the European Investment Bank announced Thursday that it had provided EUR435 million in financing for the company, which will use the funds to improve the quality and resilience of its water service.
The EIB is co-financing the 2023-2026 investment plan of Acea Ato 2, a group company that manages water service in Rome and metropolitan area, to support the modernization of water and wastewater infrastructure, improving coverage and quality of integrated water services and making operational efficiency improvements such as reducing water losses and increasing energy efficiency.
MFE saw its A shares close down 2.4 percent and its B shares end up 2.7 percent in the red after Pier Silvio and Marina Berlusconi together get the majority of Fininvest as they reach 53 percent of the group with equal shares, after Silvio Berlusconi's will was opened.
Anima Holding closed down 1.7 percent. The group's net inflows of assets under management in June were positive at EUR212 million. At the end of June, total assets under management by the Anima group stood at about EUR185 billion.
Safilo Group lost 4.3 percent the day after announcing that, following the company's previous announcements regarding the sale of the Longarone plant, negotiations with entrepreneur Carlo Fulchir are at an advanced stage, which, in conjunction with the potential transaction with Thelios already announced, would allow the preservation of the site's know-how and the total relocation of the current 458 workers.
Among the lower-capitalization companies, Pierrel lost 6.1 percent after the board of directors on Wednesday evening set the final terms and conditions of the capital increase, to be offered in option to those entitled to it for a maximum amount of EUR70 million, including share premium, to be paid in cash, including by offsetting certain, liquid yet still uncollectible receivables.
Specifically, the board resolved to issue a maximum of 47.8 million newly issued Pierrel ordinary shares, with no express par value, having the same characteristics as the shares already outstanding and regular dividend entitlements, to be offered under option to eligible shareholders in the ratio of five new shares for every Pierrel share held, at a subscription price of EUR1.529 per new share, of which EUR0.138 is to be charged to share capital and EUR1.391 to share premium.
LVenture did not trade after completing part of the EUR2.5 million capital increase, to be executed through the issuance of 5.8 million new shares in the company.
In detail, the first tranche of the capital increase to service the merger with Digital Magics -- up 0.7 percent among SMEs -- was reserved for LUISS University in the amount of EUR1.0 million, with the issuance of 2.3 million new shares in the company. The second EUR1.5 million tranche, with the issuance of 3.5 million new shares, is also reserved for LUISS University but will be subscribed upon the signing of the merger deed between LVenture and Digital Magics.
On the Italian stock exchange's alternative capital market, Redelfi closed down 0.5 percent after reporting Thursday that its subsidiary CerLab had signed a framework agreement with Swiss-registered Raviero, a logistics operator active in the renewable energy market.
The purpose of the agreement is to purchase projects provided with any necessary authorization for the construction and operation of photovoltaic systems on solar slabs of residential and industrial buildings, to be used to serve Renewable Energy Communities in the Italian territory. The target set is about 60 MW of authorized projects over the next three years, to be built and made available to Energy Communities.
expert.ai rose 7.5 percent after signing an investment agreement with the company's main shareholders and GUM Group, under which the latter committed to subscribe to a capital increase totaling EUR3.8 million.
As a result, the board of directors resolved to increase the company's share capital, in an indivisible manner, for cash by a maximum of EUR3.8 million, of which EUR3.79 million is share premium and EUR49,918.76 is share capital, by issuing nearly 5.0 million new ordinary shares, no par value, to be offered for subscription to GUM. The unit subscription price of the newly issued shares was determined to be EUR0.77 per share.
Innovatec lost 1.2 percent after reporting that the subholding company Haiki+, active in the environmental sustainability and circular economy business, received a EUR10 million loan from Ver Capital SGR, through the Ver Capital Credit Partners SME VII Fund, aimed at supporting the business unit's development project.
In New York, the Dow falls 1.4 percent to 33,800.71, the Nasdaq is down 1.4 percent to 13,605.78 and the S&P 500 flexes 1.3 percent to 4,390.18.
Among currencies, the euro changes hands at USD1.0839 versus USD1.0875 on Wednesday's European equities close. In contrast, the pound is worth USD1.2681 from USD1.2717 on Wednesday evening.
Among commodities, Brent crude is worth USD75.27 per barrel versus USD76.47 per barrel at Wednesday's close. Gold, on the other hand, trades at USD1,904.52 an ounce from USD1,923.93 an ounce last night.
Friday's macroeconomic calendar opens with Japanese household consumption and wages data, due at 0130 CEST, followed by Swiss unemployment figures at 0745 CEST and British house price numbers at 0800 CEST.
Also at 0800 CEST, room for German industrial production, which is 45 minutes ahead of French trade balance data. At 1000 CEST, eyes on Italy's retail sales. At 1300 CEST, focus on Spanish consumer confidence.
From the US, at 1430 CEST, will come June private sector employment data along with the unemployment rate. At 1900 CEST, eyes on Baker Hughes' drilling rig numbers.
Among the companies in the Square of Business, no particular events are expected.
By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter
Comments and questions to redazione@alliancenews.com
Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.
