(Alliance News) - On Thursday, markets turn slightly higher in mid-morning trading, although uncertainty remains among traders about the outlook for inflation and for the potential impact of Trump's new trade tariffs.
In Milan, 20 percent of stocks are up, 22 percent down, 6 percent unchanged, while still 52 percent of stocks are not trading. The counter value of trades is just under EUR654 million.
Trading rooms are also reviewing the minutes of the latest FOMC meeting, which highlighted the Fed's concerns about inflation and signaled a slowdown in the pace of rate cuts.
Concerns about a slowdown in the U.S. Federal Reserve's rate-cutting process and uncertainties related to U.S. President-elect Donald Trump's tariff threats have indeed dampened global market sentiment.
Among European economic data, retail sales in the euro area rose 0.1 percent on a monthly basis in November 2024, which was below market expectations of 0.4 percent growth, after a 0.3 percent decline in October. On a year-over-year basis, retail sales rose 1.2 percent, compared with a 2.1 percent increase in October.
As a result, the FTSE Mib is advancing 0.1 percent to 35,158 points.
Among the smaller listings, the Mid-Cap is down 0.4 percent to 47,592.13, the Small-Cap is giving up fractionally to 28,562.44, and Italy Growth is in the red 0.2 percent to 7,994.36.
London's FTSE 100 is advancing 0.6 percent, Paris' CAC 40 is in the green by 0.2 percent, and Frankfurt's DAX 40 is giving up 0.4 percent.
On the highest-capitalization list in Piazza Affari, Banca Monte dei Paschi advances 1.1 percent to EUR7.11 per share, updating its 52-week high.
Hera -- in the green by 0.3% -- on Wednesday successfully issued a EUR500.0 million green bond with a 6.5-year term, 3.25% coupon and 3.396% yield. Demand exceeded supply by 5.5 times, with orders amounting to EUR2.75 billion.
Strength also on Pirelli, which moves ahead 0.6% to EUR5.61 per share, after 1.0% decline on eve.
Top of the list Prysmian, which scores a plus 2.8%, after Wednesday's 0.2% decline. The company - which is continuing steadily with its buyback plan, last announced that it has taken over 3,000 of its own ordinary shares, with a total value of about EUR187,000.
BPER Banca - down 0.5 percent - announced that it has completed the placement of a EUR500 million senior non-preferred bond issue with a maturity of 6 years and the possibility of early redemption after 5 years, intended for institutional investors. The issue raised orders of up to approximately EUR2.7 billion from 145 investors. The annual coupon was determined to be 3.625 percent, with issue/re-offer price of 99.771 percent.
UniCredit -- in the red by 0.3 percent -- could offer up to EUR4 billion to acquire Banco BPM, with a proposal of EUR9.3 per share, representing a 20 percent premium to Banco's current value, as Il Sole 24 Ore writes Thursday.
This offer would be sustainable for UniCredit, which would maintain a CET1 of over 13 percent, preserving capital for the Commerzbank acquisition and continuing an advantageous capital allocation policy, the newspaper further continues. JPMorgan considers the acquisitions of Banco BPM and Commerzbank strategic, provided the premium does not exceed 20 percent and 15 percent respectively.
On the Mid-Cap, Alerion is advancing 1.1 percent in the EUR16.42 per share area, rearing its head after two bearish sessions.
Iren, on the other hand, is advancing 0.6 percent. On Wednesday, Iren Mercato, a subsidiary of the Iren Group, signed a 10-year PPA purchase agreement with Statkraft, Europe's largest renewable energy producer, for the supply of electricity from solar sources, effective January 1, 2025.
Comer Industries--best in the cadet segment--advanced 2.9 percent, however, following the 1.6 percent green of the previous session.
Gamma Intermediate completed the placement of 24 million shares of Lottomatica, representing about 9.5 percent of the company's share capital, through a private placement via an accelerated bookbuilding offering. Lottomatica stock is giving up 3.3 percent.
Newlat Food -- down 0.5 percent -- is continuing its buyback plan. Most recently, it announced Tuesday that it bought back 13,500 of its own ordinary shares in December for a total value of EUR162,000 or so.
On the Small-Cap, strength on Gas Plus, which moves up 2.5 percent, rebounding after three sessions in which it accumulated a loss of more than 10 percent.
Purchases on illimity Bank, which scores a plus 4.4 percent. Yesterday illimity, founded by Corrado Passera, came under a takeover and exchange offer from Banca Ifis, which is proposing EUR298 million for 100 percent of illimity's capital, Il Corriere della Sera recalls Thursday.
A meeting of Ifis shareholders will be held on April 17 to approve a capital increase of 8.4 million shares, while the deal is expected to be completed by September, with the bank founded by Passera being delisted. Ifis CEO Frederik Geertman confirmed the value of the offering and the commitment to remunerate shareholders, with a 70 percent payout.
Mondo TV - in the red by 0.9 percent - reported Wednesday that it had recently concluded several new agreements with Safe Media, one of the largest media distributors in the Middle East.
Beewize, on the other hand, gives up 2.7 percent, following Wednesday's 0.9 percent green at the close.
Among SMEs, purchases on ABP Novicelli, which appreciates 2.8 percent after two sessions closed with bearish candles.
Edgelab advances more than 12% -- rebounding after a six-session bearish streak -- and bringing the price to the EUR6.65 per share area.
The board of directors of Industrie Chimiche Forestali -- in the green by 0.8 percent to EUR4.96 -- on Wednesday announced the start of its share buyback and disposition plan. The shares may be purchased in one or more instalments, up to a maximum of 1.24 million ordinary shares, representing 18.44 percent of the share capital.
Intred, on the other hand, is giving up 3.7 percent to EUR10.50 per share, after 5.8 percent green on the eve of the meeting.
In New York overnight Europe, the Dow closed in the green by 0.3 percent, the Nasdaq gave up 0.1 percent, and the S&P 500 picked up 0.2 percent.
In Asia, the Hang Seng was red by 0.2 percent, the Nikkei gave up 0.9 percent, and the Shanghai Composite gave up 0.6 percent.
Among currencies, the euro changed hands at USD1.0302 against USD1.0312 on Wednesday in closing European equities. In contrast, the pound is worth USD1.2291 from USD1.2363 last night.
Among commodities, Brent crude is worth USD76.19 per barrel from USD73.53 per barrel at Wednesday's close. Gold trades at USD2,668.48 an ounce from USD2,685.96 an ounce last night.
Thursday's macroeconomic calendar, predicts at 1430 CET, from the US, it is the turn of the unemployment claims report; at 1700 CET, the Bank of England's Breeden speech is expected.
In the evening, at 2230 CET, the Federal Reserve's balance sheet will be released from the US.
By Maurizio Carta, Alliance News reporter
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