(Alliance News) - European stock markets were once again hit by uncertainty over tariffs on Thursday and closed lower on the day of the European Central Bank's interest rate decision.
In Europe, the ECB's Governing Council decided to cut its three main interest rates by 25 basis points. Specifically, the main refinancing operations, the marginal lending facility, and the deposit facility rate will be reduced to 2.25%, 2.40%, and 2.65%, respectively, effective April 23.
The Eurotower acknowledged a weakening of the growth outlook, reiterating a data-dependent approach for future decisions. It also confirmed that the next monetary policy moves will depend on the evolution of macroeconomic data, inflation dynamics, and the effectiveness of the monetary transmission mechanism.
Meanwhile, Prime Minister Giorgia Meloni will meet with President Donald Trump in Washington, as the trade dispute between Washington and Beijing continues and European partners follow the developments and moves of the US president.
As a result, the FTSE Mib lost 0.2% to 35,980.43, the Mid-Cap closed down 0.4% at 47,772.24, the Small-Cap fell 0.8% to 27,897.69, and the Italy Growth saw a 0.6% decline to 7,536.30.
Among European stock exchanges, the FTSE 100 in London closed flat, the CAC 40 in Paris closed down 0.6%, while the DAX 40 lost 0.5%.
In Milan, on the blue chip segment, Saipem, Poste, and Enel led the way, up 2.2%, 1.2%, and 1.1%, respectively.
Endesa, Enel's Spanish subsidiary, is considering the sale of a portfolio of solar photovoltaic plants under development in Spain, with a total capacity of up to 2GW.
Meanwhile, Citadel Advisors raised its short position on Saipem on Thursday to 0.60% from 0.51%.
Inwit's shareholders' meeting - up 0.7% - approved on Wednesday the distribution of an ordinary dividend of EUR0.5156 per share, as proposed by the board of directors, for a total of EUR 480.5 million, payable on May 21, in addition to an extraordinary dividend of EUR 0.2147 per share, for a maximum of EUR 200.1 million, with payment scheduled for November 26.
The three biggest losers were Moncler, Iveco, and Banco BPM, down between 2.5% and 1.6%.
Iveco's shareholders' meeting announced on Wednesday that the shareholders' meeting approved the financial statements as of December 31 and gave the green light to the distribution of a cash dividend of EUR0.33 per ordinary share, payable from April 24.
Moncler announced on Wednesday that first-quarter revenues amounted to EUR 829.0 million, up from EUR 818.0 million in the first quarter of 2024, an increase of 1.0% at constant exchange rates.
In detail, Moncler's revenues stood at EUR 721.8 million, up from EUR 705 million in the first quarter of 2024, while Stone Island's revenues amounted to EUR 107.3 million, down from EUR 113.0 million.
Among mid-caps, Alerion, SOL, and Italmobiliare led the gains with 4.9%, 2.1%, and 1.9%, respectively.
WIIT is among the losers, down 2.6%. The company announced on Monday that it had purchased 7,000 of its own ordinary shares on April 7.
MFE's B shares are at the bottom, down 5.1%, after the write-down of its stake in Prosiebensat1, which is engaged in a takeover bid worth around EUR 900 million for the German broadcaster.
Among small caps, BasicNet fell 2.7% after announcing on Thursday that it had appointed a new board of directors consisting of Marco Boglione as chairman, Alessandro Boglione, Lorenzo Boglione, Maria Boglione, Veerle Bouckaert, Piera Braja, Paola Bruschi, Cristiano Fiorio, Monica Gamberoni, Marco Enrico, Daniela Ovazza, Carlo Pavesio, Federico Trono, and Francesco Calvo.
In addition, Daniela Ovazza was appointed non-executive vice president and Lorenzo Boglione and Alessandro Boglione as managing directors.
Bialetti is flat at EUR0.45 per share, in a week of significant announcements for the company, which announced on Tuesday that NUO Octagon Spa has signed two contracts to purchase 78.567% of its share capital, acquiring 59.002% from Bialetti Investimenti and Bialetti Holding, controlled by Francesco Ranzoni, for EUR47.3 million, of which EUR 18 million through a vendor loan, and 19.565% from Sculptor Ristretto Investment Sàrl for EUR 5.7 million.
Fidia - down about 15% - announced on Wednesday that it closed 2024 with a loss of EUR 9.5 million, compared to a loss of EUR 1.5 million as of December 31, 2023.
Among SMEs, Saccheria F.lli Franceschetti - flat at EUR 1.06 per share - reported that it closed the first quarter with revenues of EUR 4.4 million compared to EUR 4.5 million in the same period of 2024.
The e-commerce sales channel confirmed the positive trend of recent years, recording a 16% increase in turnover compared to March 31, 2024.
Circle closed down 8.0% after announcing on Thursday that it had been awarded the contract for the development and implementation of an advanced vehicle traffic monitoring system in the port areas of Venice and Chioggia, worth a total of EUR 70,000.
In New York, the Dow Jones fell 1.1%, the Nasdaq rose 0.1% and the S&P 500 rose 0.4%.
Among currencies, the euro traded at USD 1.1366 from USD 1.1364 at the close of European trading on Wednesday. The pound sterling was worth USD 1.3254 from USD 1.3246 on Wednesday evening.
Among commodities, Brent crude oil was trading at USD 66.77 per barrel, up from USD 65.37 per barrel at the close of European trading on Wednesday. Gold was trading at USD 3,326.89 per ounce, up from USD 3,308.555 per ounce on Wednesday evening.
The macroeconomic calendar for Friday, with the main financial markets closed for Good Friday, includes the publication of Japan's national consumer price index at 0130 CEST.
At 0900 CEST, foreign direct investment data is expected in China.
At 10:00 CEST, Italy's trade balance will be released, while at 12:00 CEST, Spain will announce its consumer confidence index.
At the end of the day, at 5:00 p.m. CEST, FOMC member Mary Daly is scheduled to speak in the US.
By Angelo Boccato, Alliance News reporter
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