(Alliance News) - European markets -- with only Piazza Affari bullish -- are assessing a number of quarterly corporate results, as they await the Federal Reserve's economic policy statement in the evening.
The certainty of a 25-basis-point rate hike has already been largely factored in, directing attention to the press conference, where investors seek clarity on the star-studded central bank's future actions.
As a result, the FTSE Mib marks a 0.3 percent rise to 29,050.98, the Mid-Cap rises 0.1 percent to 42,222.77, the Small-Cap is in fractional green at 26,836.95, and Italy Growth rises 0.1 percent to 9,083.70.
In Europe, London's FTSE 100 is just below par, Paris' CAC 40 is giving up 1.1 percent, and Frankfurt's DAX 40 is stepping back 0.2 percent.
On the highest capitalization list in Piazza Affari, the banking sector is off to a good start, with BPER Banca advancing 3.0 percent with price at EUR3.15 per share. Of note, Capital Fund Management cut its short position on the stock to 0.48 percent from 0.57 percent.
Banco BPM, on the other hand, marks a plus 2.8%, after eve's live red.
UniCredit is also off to a strong start, after accounts released before the bell rang showing the best first half ever, closed net income reached a record level of EUR4.4 billion, up 91 percent on the same half of last year. Net of integration costs recorded in the second quarter, net book profit was EUR4.5 billion, recording the best first half year ever. Net revenues were EUR5.9 billion in the second quarter, up 24% year-on-year.
In the red, Amplifon marks minus 2.9 percent to EUR30.72 per share on the eve of the release of its accounts, while Moncler gives up 2.1 percent tacking down after three positive sessions.
On the Mid-Cap, Caltagirone ranks at the bottom with minus 3.1% after green with 0.3% on the eve.
Acea -- in the red by 0.1% -- saw adjusted net income rise during the first half of the year, a period in which capital expenditures increased and revenues fell slightly year-on-year, as disclosed Tuesday. The company's adjusted net income -- post minority interests -- rose 6 percent to EUR144 million from EUR138 million in the same period a year earlier while the unadjusted figure fell 22 percent to EUR142 million from EUR183 million.
newcleo, a clean and safe nuclear technology company engaged in the development of innovative Generation IV reactors that use existing nuclear waste as fuel, announced Tuesday that it has signed an agreement with Fincantieri and RINA, a multinational ship inspection, certification, classification and engineering consultancy. Fincantieri's stock then gives up 0.4 percent.
On the upside is Zignago Vetro, which rises 1.6 with price at EUR15.76 in anticipation of accounts due on Friday.
The 'buy' side also prevails on Banca Popolare di Sondrio, up 1.2% to EUR4.2220.
On the small-cap side, Olidata advances 3.1%, with price at EUR0.3100 after two sessions in the green.
Risanamento, meanwhile, advances 1.5%, after two sessions closed in the red.
PLC - in the green by 0.7% - announced Wednesday that PLC Service Srl, a group company, has been awarded the revamping and repowering of three photovoltaic plants for more than 13 MWp located in Puglia and Molise, held by a special purpose vehicle controlled by ERG Spa, a leading independent producer of energy from renewable sources in Italy. The total consideration for the contract amounts to more than EUR5.5 million.
Edison's board of directors -- up 0.4 percent -- on Tuesday evening reviewed the half-year financial report as of June 30, 2023, which reported a solid operating performance of all businesses. The Edison Group ended the first half of 2023 with a net profit of EUR187 million from EUR201 million in the first half of 2022 "also due to charges dependent on territorial regeneration activities in the areas of the former Montedison plants.
Among SMEs, boost on Italia Independent, which rises 3.7 percent, with price at EUR0.71 after eve's decline with 8 percent.
Casta Diva, on the other hand, marks a plus 2.6% at EUR1.4050. It is worth mentioning that the stock has doubled its market cap since the beginning of 2023 with an increase of more than 100 percent in fact.
At the tail end, Go Internet gives up 2.9%, heading for the fifth session to close with a negative balance.
Franchi Umberto Marmi, on the other hand, gives up 4.1 percent to EUR8.00 per share, thus closing out the SME list.
In New York, the Dow closed down 0.1 percent, the Nasdaq gained 0.6 percent, and the S&P 500 closed up 0.3 percent.
Among Asian exchanges, the Hang Seng is giving up 0.3 percent, the Shanghai Composite fell back 0.3 percent, while the Nikkei closed just below par.
Among currencies, the euro changed hands at USD1.1063 versus USD1.1023 in Tuesday's European equities close while the pound was instead worth USD1.2891 from USD1.2835 Tuesday evening.
Among commodities, Brent crude is worth USD83.60 per barrel versus USD82.82 per barrel at Tuesday's close. Gold, on the other hand, trades at USD1,970.45 an ounce from USD1,959.21 an ounce Tuesday evening.
Wednesday's macroeconomic calendar includes Eurozone money supply and loans to individuals, due at 1000 CEST, followed by an auction of six-month Italian BOTs, at 1110 CEST.
From the US, focus on mortgages at 1300 CEST and housing market data, due between 1400 CEST and 1600 CEST. At 1630 CEST, U.S. crude oil stocks will be released.
The data of the day, however, will come at 2000 CEST, with the Federal Reserve's decision on interest rates, to be followed by the press conference of the chairman, Jerome Powell, half an hour later.
Among the companies in Piazza Affari, results from Campari, Enel, Hera, Inwit, Moncler, Saipem and Stellantis, among others, will arrive.
By Maurizio Carta, Alliance News senior reporter
Comments and questions to redazione@alliancenews.com
Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.
