Mib in the red; Eurozone reduces trade deficit

(Alliance News) - On Friday, major European stock exchanges traded mixed in the midst of trading, with Milan and Frankfurt in the red after the release, respectively, of data on the trade balance growing compared to last May and those on falling wholesale prices for Germany.

Thus, the FTSE Mib is in the red 0.2 percent to 28,715.16, the Mid-Cap rises 0.1 percent to 42,911.91, the Small-Cap gives up 0.1 percent to 26,648.11, while Italy Growth is in fractional green at 9,106.99.

Paris' CAC 40 is up 0.3 percent, Frankfurt's DAX 40 is in the red 0.2 percent, while London's FTSE 100 is up 0.1 percent.

In fact, among macroeconomic news, Italy's estimated trade balance in May is EUR4.71 billion from a deficit of EUR62 million in May last year. The energy deficit is EUR4.83 billion and almost halved from a year earlier when it was EUR8.29 billion, and the surplus in non-energy trade increases from EUR8.22 billion in May 2022 to EUR9.54 billion in May 2023.

In May, exports show a small cyclical decline, which affects only the EU area and is mainly due to lower sales of capital goods. Imports, after an increase in April, fell again on a monthly basis, mainly due to lower energy purchases.

For the eurozone, a EUR300 million deficit was recorded in goods trade with the rest of the world in May, compared to EUR30.3 billion in May 2022.

In fact, the first estimate for Eurozone goods exports to the rest of the world in May was EUR241.9 billion, down 2.3 percent from May 2022 when it was EUR247.6 billion. In contrast, imports from the rest of the world stood at EUR242.2 billion, down 13 percent from May 2022 when they amounted to EUR277.9 billion.

Among blue chips, Banca Monte dei Paschi di Siena rose 1.9 percent and did better than all, followed by STMicroelectronics and FinecoBank, in the green by 1.2 percent and 1.0 percent.

Prysmian Group - up 0.4% - on Thursday signed with a pool of leading domestic and international banks the renewal of a long-term Sustainability-Linked revolving credit facility worth EUR1 billion.

Also hurt were Stellantis, in the red by 0.8%, and Enel, which gave up 1.7% and sat at the bottom.

The oil sector is down, with Tenaris retreating 0.7 percent, Eni 1.1 percent, and Saipem 1.3 percent.

On the cadet segment, Juventus Football Club -- up 2.4% -- on Thursday evening confirmed that it had begun the procedure to exit the Super League project.

The company reiterated that it is aware of the need for Real Madrid, FC Barcelona and the other clubs involved in the project to give their consent for the withdrawal to take effect.

Brunello Cucinelli in the red by 0.2 percent after reporting Thursday that it closed the first half of the year with revenues up 31 percent year-on-year to EUR543.9 million from EUR415.4 million in the same period last year.

Specifically, in Italy, sales rose 24 percent to EUR60.9 million, in Europe -- Italy excluded -- they grew 23 percent to EUR141.9 million, in the Americas they improved 24 percent to EUR189.0 million, and in Asia they rose 56 percent to EUR152.2 million.

Tamburi Investment Partners - in the red by 0.2 percent - reported Thursday that Standard Ethics, an independent agency that analyzes sustainability policies implemented by companies, raised TIP's Corporate Standard Ethics Rating to "EE" from the previous "EE-" with a "Positive" Outlook.

Tod's--up 1.9 percent--announced Wednesday evening that Walter Chiapponi will leave the creative direction of Tod's Men's and Women's brand collections. The decision, it said, was made by mutual agreement. The stock closed the session up by %.

LU-VE - up 0.3 percent at the bottom of the list - reported key results as of June 30 on Thursday, having reported product sales of EUR319.6 million, up 2.7 percent from the same period in 2022. On a like-for-like basis, the change would have been 0.7 percent.

On the Small-Cap, Banca Profilo is up 1.0 percent after announcing on Friday that it has transposed the guidelines that parent company Arepo BP has identified as strategic guidelines for the development of the group's activities over the next three years, which will be translated into a new business plan 2024-2026 expected by the end of the year.

The main objectives of the new plan concern the size jump of Private and Investment Banking activities aimed at optimizing the profitability of the businesses, the consolidation of the low-volatility earning capacity developed by Finance, the strengthening of investments made in fintech, with particular focus on artificial intelligence and digital assets, and the further increase of shareholder remuneration by leveraging soundness and profitability.

Among SMEs, Casta Diva Group is up 8.2 percent after announcing Thursday that its board decided to detach an extraordinary dividend totaling EUR4.0 million.

Health Italia is flat after reporting Thursday that it has approved its 2023-2026 business plan, forecasting revenues between EUR50.0 million and EUR52.0 million at the end of the plan.

Ebitda is estimated between EUR12.0 million and EUR14.0 million and positive Net Financial Position between EUR15.0 million and EUR16.0 million.

Growens rises 5.7 percent after announcing Thursday in the evening that the board of directors approved the guidelines of a transaction involving the promotion, subject to obtaining the necessary authorization from the shareholders' meeting, of a voluntary partial tender offer for a maximum of 2.6 million of the company's own ordinary shares corresponding to about 17 percent of the total number of ordinary shares issued for a unit price of EUR6.80 equal to a maximum total consideration of EUR18.0 million.

Deodato.Gallery - in the green by 5.0 percent - announced Friday the start of its collaboration with Crazy Pizza, the youngest of the brands owned by the Majestas Group led by Flavio Briatore and Francesco Costa.

The first art night will take place on July 14 and 15 in Crazy Pizza in Porto Cervo, near the prominent Deodato.Gallery. The restaurant will be set up with pop and street art works by international artists Mr.Brainwash and Arnaud Nazare-Aga.

In Asia, the Nikkei closed in the red 0.1 percent to 32,391.26, the Hang Seng was in the green 0.3 percent to 19,413.78, and the Shanghai Composite closed fractionally in the green at 3,237.70.

In New York on Thursday, the Dow Jones closed in the green by 0.1 percent to 34,395.14, the S&P picked up 0.9 percent to 4,510.04, while the Nasdaq was up 1.6 percent to 14,138.57.

Among currencies, the euro changed hands at USD1.1233 against USD1.1191 on Thursday's European equities close, while the pound was worth USD1.3108 from USD1.3100 on Thursday evening.

Among commodities, Brent crude is worth USD81.47 per barrel versus USD80.41 per barrel at Thursday's close. Gold, meanwhile, trades at USD1,961.05 an ounce from USD1,960.57 an ounce on Thursday evening.

On Friday's macroeconomic calendar, at 1430 CEST, from the U.S., eyes on the import and export price index while, at 1900 CEST, the Baker Hughes drilling rig data will be released and, at 2230 CEST, as usual on Fridays, the COT Report will be released.

By Claudia Cavaliere, Alliance News reporter

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