(Alliance News) - The Mib remains the worst among Europe's major stock markets at mid-day on Thursday, following the release of data on Italian industrial production, which fell 0.2 percent month-on-month and 2.3 percent year-on-year in February, according to data released by Istat on Thursday. In January, by contrast, industrial production had grown 1.6 percent year-on-year and dropped 0.5 percent from December.

In other macroeconomic news, Eurozone industrial production, meanwhile, rose 1.5 percent from the previous month in February 2023, the second consecutive month of increase and above market expectations of 1.0 percent growth.

Thus, the FTSE Mib remains down 0.2% at 27,584.36.

Among Italy's smaller lists, the Mid-Cap rises 0.4 percent to 43,851.07, the Small-Cap gives up 0.2 percent to 29,824.52 while Italy Growth is in the red 0.4 percent to 9,382.18.

In Europe, Paris' CAC 40 is up 1.0 percent, Frankfurt's DAX 40 is in the green by 0.1 percent while London's FTSE 100 is in the fractional red.

On the main list in Piazza Affari, STMicroelectronics gains 1.2% after it announced Thursday that it will supply millions of silicon carbide devices to the ZF technology group starting in 2025. ST will produce the silicon carbide chips at its plants in Italy and Singapore, while chip packaging in STPAK, an advanced package developed by ST, and testing will be carried out at the company's back-end facilities in Morocco and China.

Hera gives up 0.3 percent. The company confirmed on Wednesday that it has updated its Euro Medium Term Notes Program, increasing from EUR3.5 billion to EUR4.5 billion the maximum principal ceiling of bonds that can be outstanding concurrently under it.

UniCredit gives up 0.4 percent. The bank announced Wednesday that it had purchased 11.1 million of its own ordinary shares between April 3 and April 6.

The shares were taken over at an average price per share of EUR17.9170, for a total value of EUR198.2 million.

Tenaris rises 1.1 percent. As stated in a focus on the stock by projectionDiBorsa, "The last year has not been the best for the stock, which lost about 10 percent. However, Tenaris shares may be on the verge of redeeming a down year last year. Conditions may, therefore, have been created for an upward restart."

The company's Ebitda to sales ratio is relatively strong, with the company generating high margins and appearing to be very profitable.

"The company's financial situation appears to be excellent, which gives it considerable investment capacity," the note points out.

At the top are Moncler and Leonardo, rising 4.0 percent and 2.5 percent, respectively.

At the bottom, however, among the bearish are Enel, in the red by 3.4 percent, FinecoBank, which gives up 1.5 percent, and Banca Generali, in the red by 1.4 percent.

Assicurazioni Generali, in the frazioanle red, announced Thursday a cash repurchase offer on its bond issue with a total outstanding nominal amount of EUR1.5 billion and a new issue of a new fixed-rate Tier 2 bond maturing in 2033.

The principal amount of the new Tier 2 bond will not exceed EUR500 million and will be in green format, the fourth issued by the group.

On the Mid-Cap, Juventus Football Club gives up 1.2 percent after confirming on Wednesday that the FIGC's Federal Prosecutor's Office notified the company and some of its current and former members of the communication of the conclusion of investigations related to the "2019/2020 football season salary maneuver," the "2020/2021 football season salary maneuver," relations between the company and certain sports agents, as well as certain alleged "partnership relations" between Juventus and other clubs.

The Federal Prosecutor's Office, reads the press release, "also by virtue of alleged accounting violations, hypothesized the violation of Article 4, paragraph 1, of the Code of Sports Justice."

According to reports in Ansa, the prosecutor believes in its conclusions that on "salaries, agents and partners, Juventus was not fair."

Maire Tecnimont gains 0.4 percent after announcing Wednesday that its subsidiary NextChem Holding has finalized the acquisition of an 83.5 percent stake in Conser, a Rome-based proprietary technology and process engineering company, announced Jan. 23, 2023.

The countervalue of the transaction is approximately EUR35.8 million, of which EUR28.4 million was paid today and EUR7.4 million deferred and subject to the fulfillment of certain conditions.

The fashion and luxury sector holds up well, with Salvatore Ferragamo remaining on top with 2.6 percent. Tod's pulls away, up 1.2 percent while Brunello Cucinelli picks up 1.6 percent.

On the Small-Cap, after Gequity, at the top with 5.0%, comes Bastogi, which is up 4.4%. The company on Wednesday approved its results as of December 31, 2022, reporting a net profit of EUR28.2 million, up from a loss of EUR2.4 million in the previous year.

The board of directors also decided to propose the distribution of a dividend of EUR0.009 per outstanding share, excluding treasury shares, using distributable reserves.

Greenthesis gives up 1.9 percent after reporting that it ended 2022 with a net profit of EUR18.6 million, up from about EUR10.0 million in the previous year.

Revenues were EUR171.7 million compared to EUR155.9 million in the previous year. Specifically, the main business areas Disposal, Treatment and Recovery, Environmental Remediation, and Energy Production recorded an increase of 13 percent, an increase of 0.7 percent, and an increase of 80 percent, respectively, compared to the actual figures for the same period in the previous year.

Among SMEs, CleanBnB is advancing with 4.2 percent after announcing on Wednesday evening that in the first three months of the year it recorded a further consolidation of its property portfolio, which reached 1,805 units, distributed in more than 70 Italian locations and managed exclusively, mostly with the "FULL package" formula of full management.

Stays managed by CleanBnB during the first quarter of 2023 also totaled 14,341, a 61 percent increase over the same period in 2022.

Doing better are Imvest, up 16 percent, expert.ai up 11 percent, and Gismondi 1754, which picks up 4.8 percent.

Visibilia Editore, on the other hand, gives up 0.4 percent. The company announced Wednesday that it had finalized the acquisition of Calcio 2000, a football-themed sports magazine founded in 1997, from TC & C for a consideration of EUR10,000.00.

EdiliziAcrobatica is in the red by 0.8 percent after reporting that contracts signed by clients in the first quarter grew 43 percent year-on-year.

"This is a very important result that highlights a remarkable capacity for development and commercial penetration for the company founded by Riccardo Iovino in 1994, net of bonuses and state incentives," the company said.

Pattern--which is ceding 1.4 percent--reported Wednesday that it had finalized the purchase, through its 80 percent subsidiary SMT-- Società Manifattura Tessile Srl, of 100 percent of Nuova Nicol Srl, an Emilia-based company specializing in the production of women's luxury knitwear, directly from its three partners Gianluca Nicoli, Michele Marchi and Rita Nanni.

The price, amounting to EUR6 million, was paid by SMT to the sellers for 80 percent today, and the remaining 20 percent will be paid subsequent to the approval of Nuova Nicol's financial statements as of Dec. 31, 2025, assuming the existence of the previously agreed conditions.

In New York on Wednesday, the Dow Jones closed down 0.1 percent to 33,646.50, the S&P lost 0.4 percent to 4,091.95, and the Nasdaq was down 0.9 percent to 11,929.34.

Among currencies, the euro changed hands at USD1.1026 against USD1.0983 at Wednesday's close. In contrast, the pound is worth USD1.2521 from USD1.2465 on Wednesday evening.

Among commodities, Brent crude is worth USD87.31 per barrel versus USD87.00 per barrel on Wednesday evening. Gold, on the other hand, trades at USD2,028.01 an ounce from USD2,006.42 an ounce at Wednesday's close.

On Thursday's economic calendar, the Thomson Reuters IPSOS consumer sentiment index for Italy, France and Germany will be released at 1200 CEST.

At 1300 CEST from the U.S. is the OPEC monthly report and in the afternoon, at 1430 CEST, the index of key producer prices and initial claims for unemployment benefits.

By Chiara Bruschi, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved