(Alliance News) - On Wednesday, major European stock markets closed the session in the green except for the Mib, weighed down by declines in Pirelli, STMicroelectronics and Saipem, among others.
Thus, the FTSE Mib, closed 0.3 percent in the red at 34,151.41, the Mid-Cap gave up 0.2 percent to 48,048.28, the Small-Cap advanced 0.3 percent to 29,409.85, while Italy Growth lost 0.2 percent to 8,232.06.
In Europe, Paris' CAC 40 rose 0.8 percent, London's FTSE 100 closed up 0.5 percent, and Frankfurt's DAX 40 finished up 0.3 percent.
On the Mib, Leonardo did best of all with a 2.8 percent rise. In the first quarter of 2024 it closed with a net income of EUR459 million from EUR40 million in the comparable period, which includes, in addition to the ordinary net income, the gain recognized as a result of the fair value measurement of the Telespazio group, carried out for the purpose of fully consolidating it. Net ordinary income, on the other hand, is EUR93 million.
Terna also did well, up 2.5 percent after announcing Wednesday that it closed the first quarter with group net income of EUR268.2 million from EUR200.2 million as of March 31, 2023, up 34 percent.
Revenues in the period stood at EUR858.1 million, up 20 percent from EUR712.5 million since the first quarter of 2023.
Eni gave up 0.2 percent. The company announced Wednesday that it plans to place two new fixed-rate bond issues in U.S. dollars today, with maturities of 10 and 30 years.
The bond issue comes in execution of the board's April 4 resolution and is aimed at maintaining a balanced financial structure, and proceeds will be used for Eni's general needs.
Azimut Holding closed up 1.0 percent after reporting Wednesday that it closed April with net inflows of EUR595 million, bringing its total since the beginning of the year to EUR2.1 billion.
Total assets including assets under administration stood at EUR92.8 billion at the end of April, of which EUR61.0 billion refer to assets under management.
High quarters also for FinecoBank, in the green by 0.9 percent. The group reported virtually unchanged first-quarter profit compared with a year ago, while revenues grew. In fact, it reported Tuesday that net profit in the first quarter stood at EUR147.0 million, down only slightly from EUR147.3 million as of March 31, 2023. Revenues in the first quarter stood at EUR327.0 million, up 11 percent from EUR293.7 million in the same period last year.
The board of Banco BPM -- down 1.9 percent -- on Tuesday approved the financial report for the first quarter of 2024, closing with a net income of EUR370.2 million compared to EUR265.3 million in the first three months of 2023. Net income from continuing operations thus amounted to EUR446.3 million and was up 37 percent from the EUR326.8 million figure for the first quarter of 2023 and up 30 percent from EUR343.1 million in the fourth quarter of the previous year.
Among the bearish, Pirelli ended in the tail giving up 2.6 percent while STMicroelectronics and Saipem lost 2.2 percent.
On the Mid-Cap, Intercos closed at the top with 5.5 percent, despite reporting declining accounts on Tuesday, but still confirming guidance for 2024 that forecasts growing numbers.
Credito Emiliano closed up 0.2 percent, after reporting Tuesday that it closed the first quarter with a net profit of EUR160.9 million, which compares with EUR134.8 million in the same period last year. However, the stock trades bearish by 1.0 percent, veering lower after opening bullish.
d'Amico ended the session down 0.7 percent. The company-as disclosed Wednesday-closed the first quarter with a net profit of USD56.3 million, up from USD54.1 million in the same period last year. Little movement in adjusted profit, which excludes nonrecurring items. The adjusted figure rises to USD56.7 million from USD56.5 million in the first quarter of 2023.
Maire Tecnimont closed 6.1 percent in the red. The company placed more than 2.3 million shares, corresponding to about 0.7 percent of the total number of ordinary shares, with institutional investors for a total gross consideration of about EUR16.9 million. The beneficiaries of the LTI Plan have undertaken a lock-up commitment on the shares remaining from the placement for a period of 90 days, subject to the express consent of the Sole Bookrunner.
Comer Industries -- in the green by 1.0 percent -- reported Wednesday that it closed the first quarter with revenues down 21 percent year-on-year to EUR272.4 million from EUR345.9 million.
On the Small-Cap, Enervit closed up 1.9% after reporting Wednesday that it ended the first quarter with consolidated revenues up 13% to EUR22.8 million from EUR20.2 million as of March 31, 2023.
Safilo Group -- in the green with 5.5 percent -- reported Tuesday that it ended the first quarter with revenues of EUR277.2 million, down from EUR287.2 in the same period a year earlier. In the first quarter, gross industrial profit was EUR166.2 million, down 1.0 percent from EUR167.8 million in the first quarter of 2023, while gross industrial margin improved 160 basis points from 58.4 percent to 60.0 percent.
The board of directors of Tessellis - in the red by 1.4 percent - on Tuesday approved the consolidated balance sheet and sustainability report as of December 31, 2023, which closed with a negative net result of EUR62.2 million from the negative EUR36.9 million in August-December 2022. Of note, this is the first full year for 12 months post-merger with Linkem's retail arm. Revenues and other income amounted to EUR233.9 million compared to EUR101.7 million in August-December 2022.
On the SME segment, Circle - in the green by 0.9 percent - announced Wednesday that it has been awarded, through its subsidiary Magellan Circle, the Clarion project on safe and resilient transportation and smart mobility services for passengers and freight.
Funded under the Horizon program and with a total budget of about EUR7 million, Clarion is worth EUR280,000 to Circle during 47 months of implementation.
EdiliziAcrobatica - in the red by 0.4 percent - reported Wednesday that it ended the first quarter with revenues down slightly year-on-year to EUR33.3 million from EUR34.6 million in the same period a year earlier.
In New York, the Dow rises 0.2%, the Nasdaq gives up 0.2% while the S&P 500 is in the fractional red.
Among currencies, the euro changes hands at USD1.0748 from USD1.0773 in Tuesday's European stock close while the pound is worth USD1.2495 from USD1.2543 on Monday evening.
Among commodities, Brent crude trades at USD83.31 per barrel from USD83.89 per barrel on Tuesday. Gold, on the other hand, trades at USD2,317.24 an ounce from USD2,315.57 an ounce on Tuesday evening.
Thursday's economic calendar opens with data from Japan at 0130 CEST on average wages, while from China at 0500 CEST the trade balance is expected and at 0700 CEST the Japanese predictive index will come out.
At 1110 CEST there will be an auction of twelve-month Italian BOTs while at 1200 CEST the Thomson Reuters IPSOS PCSI index for Italy, Germany, France and Spain.
At 1300 CEST the Bank of England's decision on interest rates is scheduled. At 1430 CEST will come, from the US, the unemployment claims.
In Piazza Affari, the financial results of several listed companies are expected including Banca Generali, Azimut Holding, Brembo, Salvatore Ferragamo, Enel and Mediobanca.
By Chiara Bruschi, Alliance News reporter
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