(Alliance News) - Piazza Affari is expected to fall sharply ahead of Thursday's start of trading, with market sentiment still weighed down by fears of a recession in the US that would affect the rest of the world's economies.

The FSTE Mib is given down 0.9 percent or 277.5 points by IG futures after closing up 2.3 percent at 31,831.64 on Wednesday's session.

London's FTSE 100 is shown down 49.5 points or 0.6 percent, Paris' CAC 40 is expected to be down 53.8 points or 0.7 percent and Frankfurt's DAX 40 is expected to be down 0.5 percent or 86.2 points.

In Milan last night, the Mid-Cap gained 1.2% to 45,080.49, the Small-Cap rose 1.2% to 27,987.17 while the Italy Growth closed up 0.5% to 7,827.49.

On the Mib, Banca Monte Paschi Siena did best of all, rising 6.7 percent after closing up 8.7 percent at the top the day before. The bank reported Tuesday that it closed the first half of the year with a profit of EUR1.16 billion, up 87 percent from EUR619.0 million in the same period a year earlier.

In addition, the board of directors, along with the half-year results, also approved the 2024-2028 business plan. The plan forecasts 2024 revenues at EUR3.84 billion and EUR4.06 billion in 2028; operating expenses of EUR1.87 billion in 2024 and EUR2.03 billion in 2028 while gross operating income is expected at EUR1.97 billion in 2024 and EUR2.02 billion in 2028.

Boost also on UniCredit, up 4.8%, rebounding after five sessions closed with bearish candle.

Banca Mediolanum - up 3.1 percent - reported July trading results on Tuesday. Total net inflows amounted to EUR674.0 million and EUR6.34 billion since the beginning of the year. Net inflows in assets under management amounted to EUR1 billion, and EUR4.09 billion since the beginning of the year.

Iveco, on the other hand, gained 1.7 percent, on the heels of the eve's bullish candle of 2.1 percent, and priced at EUR8.82 per share.

Banco BPM rallied 2.1 percent after announcing that it closed the first half with an adjusted net profit of EUR776 million, up 19 percent from EUR as of June 30, 2023. The company also explained that it reported a performance in the first six months that exceeded plan targets. Net interest income for the period stood at EUR1.72 billion, up 11 percent from EUR1.55 billion in the first half of 2023.

Interpump Group -- in the red by 0.3 percent -- reported Wednesday that its board of directors approved its half-year report as of June 30, a period that ended with a consolidated net profit of EUR130.1 million from EUR168.5 million in the same period of 2023, thus down 23 percent. Net sales amounted to EUR1.10 billion from EUR1.18 billion in the same period of 2023.

On the cadet list, Carel Industries rose 4.9 percent, in its third consecutive bullish session.

MARR, on the other hand, jumped 3.4 percent, now pricing itself at EUR11.00 per share, rebounding after four sessions in a negative balance.

Credito Emiliano -- up 1.8 percent -- closed down for the fourth session in a row. It reported Monday that it closed the first half with a profit of EUR323.8 million from EUR298.7 million as of June 30, 2023. During the period, net interest income amounted to EUR617.9 million from EUR539.7 million in the first half of 2023, while net interest and other banking income amounted to EUR1.03 billion from EUR968 million in the same period last year.

Fincantieri rose 2.0 percent after it reported Tuesday that Vard, the group's Norwegian subsidiary, has signed a contract for the design and construction of a modern Energy Construction Vessel for Wind Energy Construction, a Norwegian company partly owned by the founders of Norwind Offshore. The parties also agreed on an option for a second vessel. The new vessel, scheduled for delivery in the second quarter of 2027, will be built, outfitted, commissioned and delivered at the Vard Vung Tau shipyard in Vietnam.

Among the few bearers, BFF Bank gave up 2.1 percent, following a 0.7 percent drop Tuesday night. The company reported Monday that it closed the first half of the year with a profit of EUR161.8 million from EUR76.1 million as of June 30, 2023. During the period, net interest income stood at EUR232.9 million from EUR125.6 million in the first half of 2023.

On the Small-Cap, strength on Softlab, which rose 1.9 percent to EUR1.10 after Tuesday's flat session, but pushing up during the session to EUR1.18.

Trevi Finanziaria Industriale appreciated 7.8 percent, following a 0.5 percent green in the previous session.

Piquadro's board of directors - down 2.4 percent - on Wednesday reviewed and approved key economic and financial performance indicators on a consolidated basis for the first three months ended June 30, 2024, closing with consolidated sales of EUR36.1 million, up 4.9 percent from the same period of the previous year that closed at EUR34.4 million.

On a negative note, Giglio Group gave up 0.3 percent after the 2.1 percent profit with which it closed Tuesday evening.

Tesmec -- in the red by 2.9 percent -- reported Tuesday that it closed the first half with a loss of EUR2.2 million down from a EUR2.6 million liability in the first half of 2023. Revenues amounted to EUR124.2 million from EUR125.3 million as of June 30, 2023.

Zest, on the other hand, gave up 0.9 percent after two sessions closed in the green and with price at EUR0.1750.

Among SMEs, La Sia pushed up 4.9 percent. The company announced on Wednesday that it had won three tenders worth a total of about EUR1.5 million, issued by Poste Italiane and Agenzia del Demanio.

Alfio Bardolla, on the other hand, rose more than 13 percent, following eve's green with 2.6 percent and with price in the EUR2.68 area.

Tenax International gained 2.3 percent after announcing on Tuesday that the pre-consolidation turnover recorded in the first half of the year amounted to EUR12.5 million, which is 70 percent compared to the turnover for the whole of 2023 that amounts to EUR20.5 million and 139 percent compared to the turnover recorded in the first half of 2023. The company also reported that the order backlog with 2025 delivery to date amounts to EUR1.9 million.

Masi Agricola - in the green by 1.2 percent - reported Tuesday that it closed the first half with a drop in profit to EUR22,000 from EUR1.8 million as of June 30, 2023. Net revenues for the period stood at EUR30.2 million, down 8.8% from EUR33.1 million in the first half of 2023.

Destination Italia gave up 4.5 percent, after an eve balance of 5.6 percent.

For Franchetti, on the other hand, the decline is 6.5 percent, after a 1.9 percent drop at Tuesday's close.

In Asia, the Nikkei is down 0.9 percent to 34,774.36, the Shanghhai Composite is up 0.1 percent to 2,872.17 while the Hang Seng rises 0.2 percent to 16,910.08.

In New York at Wednesday's close, the Dow lost 0.6 percent to 38,763.45, the Nasdaq gave up 1.1 percent to 16,195.81 and the S&P 500 fell 0.8 percent to 5,199.50.

Among currencies, the euro changed hands at USD1.0937 versus USD1.0926 in Wednesday's closing European equities while the pound was worth USD1.2702 from USD1.2714 from Wednesday evening.

Among commodities, Brent crude is trading at USD78.22 per barrel versus USD78.61 per barrel at Wednesday's close. Gold, on the other hand, trades at USD2,393.64 an ounce from USD2,392.98 an ounce on Wednesday evening.

Thursday's macroeconomic calendar includes, at 1430 CEST, from the US, the unemployment claims data, while at 2100 CEST a speech by Barkin of the FOMC is expected. Finally, at 2230 CEST, the Federal Reserve's weekly bilacio.

At 2130 CEST, however, a speech by McCaul of the ECB is expected.

Among the companies in Piazza Affari, the accounts of Bialetti Industrie, Emak, GVS, Italian Exhibition Group, Riba Mundo Tecnologia, Salcef Group, Servizi Italia, Technoprobe, Trevi Finanziaria Industriale and Unipol are expected.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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