Mib in green; Piaggio bullish on mid-cap

(Alliance News) - Piazza Affari moved higher Thursday, placing the point bar above the 27,000-point level after two consecutive sessions of losses and in line with other European exchanges.

Trading rooms continue to assess the outlook for future interest rates and the global economy after a series of disappointing economic data from the United States before the break in honor of Easter. On the domestic data front, a new PMI survey showed that Italy's construction sector contracted for the fourth consecutive month in March and faster than the previous month.

Thus, the FTSE Mib, marks a 0.6 percent rise to 27,039.63.

In Europe, London's FTSE 100 advances 0.4 percent, Paris' CAC 40 rises 0.2 percent as does Frankfurt's DAX 40.

Among the smaller lists, the Mid-Cap advances marginally to 43,513.33, the Small-Cap rises with 0.2% to 29,760.66 while Italy Growth loses 0.1% to 9,404.92.

On the main list of Piazza Affari, BPER Banca is confirmed on the high quarters - since the bell rang - marking a plus 1.6% at EUR2.36 per share, after the slight decline on the eve of the day.

Purchases also on Hera, placing it equally in the upper quarters, with a price of EUR2.69 and up 1.5 percent.

The top of the list is occupied by Enel, which advances with 2.8 percent to EUR5.81 following up Wednesday's green with 1.4 percent.

FinecoBank--up 0.3%--reported Thursday that net inflows in March were positive at EUR1.1 billion, bringing inflows since the beginning of the year to EUR2.7 billion. Assets under administration totaled EUR1.6 billion and assets under management EUR155 million.

On a negative note Moncler, which gives up 2.0% after Wednesday's 1.0% gain. On the stock, Citadel Advisor Europe cut its short position to 0.44% from 0.5% precdently.

Also among the few bearish performers was CNH Industrial, which posted minus 1.1 percent, rearing its head after four sessions in the negative.

On the Mid-Cap, Piaggio advances with 2.3% bringing the price above EUR4.03 per share. For the Vespa company, the green since the beginning of the year exceeds 43%.

The top is Intercos, which picks up 3.2 percent after 4.4 percent profit on eve.

Anima Holding is priced equally bullish with 0.1 percent, although net inflows of assets under management-as disclosed on Thursday-were negative EUR493 million in March 2023; at the end of March, total assets under management of the ANIMA Group stood at over EUR182 billion.

Among the bearish - numerous in the list - Technogym is giving up 2.4 percent to EUR7.98 per share after two sessions ended in surplus.

On the Small-Cap, Servizi Italia is doing well, moving ahead with 2.8% after falling 2.0% on the eve.

Netweek's board of directors -- up 2.5 percent -- on Wednesday approved the draft separate and consolidated financial statements as of Dec. 31, 2022 reporting a loss of EUR1.9 million, worsening from a loss of EUR1.7 million in 2021. Revenues, on the other hand, increased to EUR24.2 million from EUR23.3 million in the previous year.

The sell side also prevails on SS Lazio, which goes down 6.7 percent after three bullish sessions, placing it at the tail end of the list.

Also in the rear ranks is Bialetti, which contracts 2.9 percent and brings the price down to EUR0.2640.

Among SMEs, strength on Datrix, which rises 9.3 percent rebounding after two negative sessions in which it lost about 16 percent.

Estrima, on the other hand, advances 7.7%. The company announced Thursday the opening of a new market, Belgium, through a partnership with Amolytics BV, led by Matthew Khouri, an entrepreneur who has been active for many years in the distribution of heavy-machinery for the construction and mining sectors in West Africa, with whom the company Birò Brussels was formed.

The agreement calls for the opening of a new Birò Store, managed by the newly formed Belgian-registered company Birò Brussels, dedicated to the sale, distribution and rental of Birò in the Belgian capital.

The list closes it Alfonsino, which marks a minus 4.6 percent. Of note, the stock since the beginning of 2023 has gained more than 55 percent.

Fope, on the other hand, gives up 3.6 percent, after a 1.2 percent gain on the eve.

In New York--on European night--the Dow rallied 0.2 percent, the Nasdaq gave up 1.1 percent, and the S&P 500 slipped 0.3 percent.

Among currencies, the euro changed hands at USD1.0901 versus USD1.0922 at Wednesday's close. In contrast, the pound is worth USD1.2463 from USD1.2474 on Wednesday evening.

Among commodities, Brent crude is worth USD84.50 per barrel versus USD84.89 per barrel on Wednesday evening. Gold, meanwhile, trades at USD2,018.61 an ounce from USD2,038.75 an ounce at yesterday's close.

On Thursday's economic calendar, unemployment claims will be released at 1430 CEST.

By Maurizio Carta, Alliance News reporter

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