(Alliance News) - On Thursday, Piazza Affari, after the initial dominance of selling that followed the ringing of the bell, then veered into an upward trend, taking the Mib to the 34,250-point area.

Among the macro data coming out and awaiting more numbers on the European economy later in the morning, data showed that car production in the United Kingdom fell for the second consecutive month as manufacturers continue to prepare for new models.

The Society of Motor Manufacturers and Traders said 61,820 cars were built in April, down 7 percent from the same month a year earlier.

Thus, the FTSE Mib-after closing 1.5 percent in the red last night at 34,150.54-is given down 97.50 points.

Among the smaller listings, the Mid-Cap is rising 0.4 percent to 47,445.95, the Small-Cap is up 0.2 percent to 29,005.93, while Italy Growth is giving up 0.2 percent to 8,200.21.

In Europe, London's FTSE 100 is just below par, Frankfurt's DAX 40 gives up 0.2 percent, while Paris' CAC 40 is advancing 0.1 percent.

On the Mib, ERG takes the top spot, advancing 2.5 percent with price at EUR24.84 and rearing its head again after two sessions closed down.

Good purchases also on BPER Banca, which moves ahead 1.9% to EUR4.89 per share, after eve's 2.0% decline.

Banco BPM -- up 0.9 percent -- on Thursday announced its intention to exercise the early redemption (call) option of the "Euro 300,000,000 8.750% Additional Tier 1 Notes" instrument. This instrument, issued but June 2019 and placed with institutional investors, now has a remaining amount of EUR300.0 million, of which EUR223.3 million is repurchased by the issuer in November 2023.

Terna - in the green by 0.1 percent - reported that it signed an ESG-linked revolving credit facility agreement on Wednesday for a total amount of EUR250 million.

Telecom Italia - in the red by 5.8 percent - reported Wednesday that its board of directors approved additional periodic financial information as of March 31, reporting first quarter group revenues of EUR3.93 billion, up from EUR3.84 billion in the same period of 2023. First-quarter net income attributable to owners of the parent reported a loss of EUR400 million, an improvement from a loss of EUR689.0 million in 1Q2023 and discounting the negative effect of net nonrecurring charges of EUR93 million from EUR427 million in 1Q2023.

Pirelli, on the other hand, is giving up 4.5 percent after two sessions closed in the green.

On the cadet segment, Caltagirone is giving up 2.3 percent, after a 1.2 percent gain with which it closed Wednesday night.

Sales also on Philogen, which cointrae 1.9% to EUR20.70, after having updated its 52-week high at EUR21.40 on the eve.

Webuild- up 1.5 percent- reported Thursday that it has won a new contract in France to build the Grand Paris Express, the new metro in the Île de France region that is currently the most important and innovative sustainable mobility project in Europe. Société des grands projets has awarded Webuild, in a joint venture with French partner NGE, the contract worth a total of EUR1.38 billion, of which Webuild's share is 45.5 percent, for the construction of Lot 2 of the West Section of Line 15 of the Grand Paris Express.

The board of directors of Tamburi Investment Partners -- down 0.2% -- on Wednesday evening approved the issuance of a non-convertible, unrated, non-subordinated and unsecured bond in the nominal amount of EUR250 million; the company is allowed to increase the nominal amount of the bond up to a further maximum of EUR100 million, thus up to a total nominal amount of EUR350 million.

On the SmallCap, strength on Digital Bros, which appreciates 5.1 percent, after a 2.6 percent decline on the eve.

Good buying also on Fidia, which advances 2.5 percent. The board approved a new budget for the year ending Dec. 31, 2023, closing with a consolidated net income of negative EUR1.47 million, compared to negative EUR4.9 million in fiscal 2022. Net revenues were EUR28.6 million compared to EUR24.4 million in FY 2022.

Softlab's board of directors - in the green by 2.2 percent - approved the draft consolidated financial statements as of December 31, 2023, closing with a loss of EUR400,000 compared to a profit of EUR3.2 million in FY 2022. Revenues earned in FY2023 were EUR24 million, a slight increase from EUR23.7 million in FY2022.

Pinifarina, on the other hand, is stepping back 2.7 percent. The stock-which has been mnaca to the ex-dividend since 2005-is heading for its third bearish session.

Among PMIs, strength on Ivision Tech, which moves ahead 3.5 percent, in position to close its fifth session with a bullish candle.

Mare Engineering Group--slightly up with 0.6 percent--reported on Wednesday a net profit of EUR2.4 million as of Dec. 31 from EUR3.7 million in 2022. Value of production amounted to EUR39.4 million in 2023 from EUR35.3 million as of Dec. 31, 2022.

At the back of the pack, Edil Sanfelice marks minus 3.1 percent, with the stock having increased its market cap by more than 58 percent since the beginning of the year.

In New York last night, the Dow gave up 1.1 percent, the Nasdaq gave up 0.6 percent, and the S&P 500 posted minus 0.7 percent.

In Asia, the Nikkei gave up 1.3 percent, the Hang Seng equally gives up 1.3 percent, while the Shanghai Composite is marking minus 0.6 percent.

Among currencies, the euro changed hands at USD1.0798 from USD1.0815 on Thursday in closing European equities while the pound is worth USD1.2696 from USD1.2708 on Thursday evening.

Among commodities, Brent crude trades at USD83.21 per barrel from USD83.62 per barrel on Wednesday. Gold, on the other hand, trades at USD2,333.46 an ounce from USD2,340.30 an ounce on Wednesday evening.

Thursday's macroeconomic calendar includes at 1000 CEST from Italy the monthly unemployment rate and the consumer price index.

At 1100 CEST it is the turn of the unemployment rate and consumer confidence in the Eurozone.

Overseas, at 1430 CEST, come the continuing unemployment claims and U.S. GDP.

Among companies listed on the Stock Exchange, the results of MeglioQuesto are expected.

By Maurizio Carta, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.