(Alliance News) - On Wednesday, major European stock markets opened in positive territory -- with the exception of Milan -- while monthly unemployment rate data are awaited in Italy and the international situation is cracking.
Thus, the FTSE Mib opens in the red by 0.1 percent at 33,743.93, the Mid-Cap is in the green by 0.1 percent at 46,654.28, the Small-Cap is on the parity threshold at 28,361.50, and Italy Growth is in the green by 0.1 percent at 8,031.86.
In Europe, London's FTSE 100 is in the green by 0.3 percent, Paris' CAC 40 is up 0.2 percent, and Frankfurt's DAX 40 gains 0.1 percent.
On the Mib, Eni takes the top spot at the start, up 1.6%. Leonardo, up 1.1 percent, also does well, while Saipem, up 0.8 percent, closes the podium.
UniCredit -- down 0.1 percent -- reported Wednesday that rating agency Moody's confirmed its Senior Preferred debt and long-term deposit ratings at Baa1, with a stable outlook.
At the same time, the rating agency said that it would consider upgrading UniCredit's stand-alone rating -- Baseline Credit Assessment -- of Commerzbank, currently Baa3, to Baa2, one notch above Italy's sovereign rating, if UniCredit acquires Commerzbank.
This would entail raising the rating for senior nonpriority and junior debt as well.
Among the bearish performers are utilities, with Hera and Snam giving up 1.0 percent and 0.7 percent, respectively.
On the cadet segment, Brembo rises 3.3% after announcing Wednesday that it has completed the sale of its entire stake in ordinary shares of Pirelli & C. -- down 3.4% on the Mib -- through the accelerated bookbuilding procedure.
The selling shareholder announced that it had sold to institutional investors 55.8 million ordinary shares held in Pirelli, corresponding to about 5.6 percent of the company's share capital as of the date of this announcement, at a price of EUR5.07 per share.
The total consideration was EUR282.9 million.
Salvatore Ferragamo rises 0.9 percent. On the stock Barclays reduced its target price to EUR6.80 from EUR6.90 and 'underweight' indication.
Piovan--not yet affected by trading--on Tuesday appointed the new seven members of the board of directors, who will serve until the shareholders' meeting called to approve the financial statements as of December 31, 2025.
The new board of directors thus includes chairman Nicola Piovan, directors Filippo Zuppichin, Roberto Ardagna, and Chiara Arisi, and independent directors Elena Biffi, Michela Cassano, and Mario Cesari.
Among the bearers, Arnoldo Mondadori Editore gives up 0.6 percent. The company announced Tuesday that Mondadori Media has finalized the acquisition of 51 percent of the share capital of Fatto in casa from Benedetta, which owns all intellectual property rights and economic exploitation of Benedetta Rossi's image as well as all social assets and related content library.
The acquisition price, paid entirely in cash, is EUR6.9 million and reflects an enterprise value for 100 percent of the company, on a cash & debt free basis, of EUR13.5 million.
Among smallcaps, Banco Di Desio e della Brianza rises 0.4 percent. The company announced Tuesday that it has successfully completed the placement of its first "green" qualified Senior Preferred bond, consistent with the group's Green Bond Framework, for a total amount of EUR40 million.
The bond issue aimed at its retail customers has a maturity of 3.5 years, minimum denomination of EUR1,000 and carries a 3 percent annual coupon recognized quarterly starting Oct. 16.
Class Editori is not yet affected by trading. The board of directors said it reviewed and approved the consolidated half-year financial report as of June 30, closing with a consolidated net loss of EUR4.7 million, compared with a profit of EUR40,000 as of June 30, 2023.
Consolidated revenues for the first six months of 2024 were EUR40.0 million, compared to EUR42.9 million in the corresponding period of 2023.
Seri Industrial gives up 2.9 percent. The company on Monday evening reviewed and approved its consolidated half-year financial report as of June 30, closing with a loss of EUR6.0 million compared to a negative EUR7.0 million in June last year.
Revenues from customers as of June 30, 2024, amounted to EUR76.6 million, down 8 percent from the previous period, while revenues, income and increases for internal work of EUR94.2 million were basically in line with the previous period.
Among SMEs, Casta Diva Group--down 1.1 percent--reported Tuesday that Genius Progetti, a group company specializing in creating and organizing events and experiences for major brands and luxury industries, has signed a three-year contract with a prestigious Italian carmaker.
The contract includes general management - planning and marketing strategy -, planning, tailor made experiences, concept and entertainment development, and client concierge of different types of formats on the European territory, with a potential value that the group estimates around EUR70 million over the next three years, considering that the 2025 budget, already allocated, amounts to around EUR27 million.
Novamarine is not yet affected by the exchanges. The company reported that it ended the first half of the year with revenues of EUR15.0 million, compared with EUR12.1 million in the same period last year.
Net income more than doubled to EUR1.5 million from EUR600,000 a year earlier.
In addition, it announced that it has signed a strategic agreement with the Belgian company of the Brunswick Marine group, distributor of major brands of boats and products in the marine field, including Mercury products, which will equip, in their various forms, the new Navy by Novamarine production line.
Prismi-not yet affected by the exchanges-has let it be known that board chairman Giacomo Fenoglio has resigned from his position with immediate effect, due to the incompatibility of holding the position with his professional commitments.
In Asia, with the Shanghai Composite paused for national holiday, the Nikkei gave up 2.2 percent to 37,808.76, while the Hang Seng is in the green 5.6 percent to 22,307.71.
In New York on European night, the Dow closed in the red 0.4 percent to 42,156.97, the Nasdaq fell 1.5 percent to 17,910.36, and the S&P 500 closed down 0.9 percent to 5,708.75.
Among currencies, the euro changed hands at USD1.1068 versus USD1.1063 in Tuesday's European equities close while the pound was worth USD1.3295 from USD1.3272 Tuesday evening.
Among commodities, Brent crude is trading lower at USD75.06 per barrel versus USD74.61 per barrel at Tuesday's European stock close. Gold, on the other hand, trades at USD2,674.00 an ounce from USD2,686.05 an ounce Tuesday evening.
Wednesday's macroeconomic calendar, with the Chinese stock exchange not trading due to a national holiday, includes at 0945 CEST from France the release of the government's budget, while fifteen minutes later the Italian monthly unemployment rate is expected.
At 1100 CEST it is the turn of the Eurozone's, while at 1130 CEST the BoE summit minutes are published.
Overseas, at 1300 CEST, data on 30-year mortgages in the US are expected, while at 1415 CEST it is the turn of the change in nonfarm employment.
No particular announcements are expected among the companies listed on the Stock Exchange.
By Claudia Cavaliere, Alliance News reporter
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