(Alliance News) - European stock markets are expected to open higher on Tuesday in the first session of the year, ahead of a series of manufacturing PMI data, including for the UK, and in response to a slight expansion in manufacturing activity in China.
Among economic data, U.K. retail price inflation was unchanged at 4.3 percent in December, the lowest level in a year and a half, but the British Retail Consortium warned that cost pressures threaten to end the easing of inflation in 2024.
Thus, the FTSE Mib, marks a rise of 98.50 points, after closing up 0.1 percent at 30,351.62 Friday evening.
In Europe, London's FTSE 100 is advancing 20.30 points, Paris' CAC 40 is advancing 31.00 points, and Frankfurt's DAX 40 is advancing 59.50 points.
Among the smaller listings on Friday, Mid-Cap lost 0.2 percent to 44,543.93, Small-Cap closed in fractional green at 28,333.63, and Italy Growth gained 0.7 percent to 8,305.20.
On Friday night's Mib, Banca Mediolanum took the top spot, up 0.6 percent. Also up by the same percentage were Recordati and Moncler, which rounded out the podium.
Enel -- up 0.3 percent -- on Friday announced that it had finalized the sale of 50 percent of Enel Green Power Hellas, EGP's wholly owned renewable subsidiary in Greece, to Macquarie Asset Management, acting through Macquarie Green Investment Group Renewable Energy Fund 2, through its wholly owned subsidiary Enel Green Power Spa.
Thus, EGP received total consideration of about EUR350 million, equivalent to an enterprise value, on a 100 percent basis, of about EUR980 million.
Also in energy, Terna rose 0.1 percent after announcing Thursday that Terna's planned new power link between La Spezia and Arcola has been authorized by the Ministry of Environment and Energy Security.
ERG rose 0.4 percent. The company on Thursday announced that through its subsidiary ERG Eolienne France SAS, it has signed an agreement with QEnergy France SAS, a leading renewable energy operator in France, to acquire 100% of CEPE Renouvellement Haut Cabardès SAS, a company that owns a 73.2 MW wind and solar portfolio in France.
The portfolio of plants being acquired consists of two photovoltaic farms, commissioned between June and September 2022, totaling 20.4 MWp of installed capacity, a 28.8 MWp solar project in the advanced stages of construction, and a 24 MW wind farm in the final stages of commissioning following a total reconstruction to new.
Among the list's worst performers are Saipem and Tenaris, down 0.9 percent and 1.4 percent, respectively.
On the Mid-Cap, Maire Tecnimont gave up 0.6 percent. The company on Friday reported that following the award, announced last June, of a nitric acid and ammonium nitrate plant project by KIMA, Egyptian Chemical Industries Company received advance payment and authorization to start engineering work.
Notice to proceed for Engineering Procurement and Construction activities is expected by the end of June 2024. The EPC contract was awarded to a consortium led by Tecnimont for a total value of USD300 million, of which Tecnimont is responsible for approximately USD220 million.
Banca Popolare di Sondrio rose 0.4 percent after it announced Thursday that it had concluded -- along with 12 other participating institutions -- the multi-originator securitization of non-performing loans called "LUZZATTI POP NPLS 2023," with a total gross book value of EUR313 million.
Specifically, the institution sold, with economic effect from January 1, 2023, a portfolio of non-performing loans with a gross value of EUR173.7 million to the securitization vehicle named "Luzzatti POP NPLS 2023 Srl," which, in turn, issued, in relation to Banca Popolare di Sondrio, three tranches of ABS notes totaling EUR57.13 million, or 32.88% of the gross value of the loans sold.
Fincantieri - up 0.4 percent - announced Thursday that it had signed a construction loan green for up to EUR415 million with Intesa Sanpaolo - in fractional green at EUR2.64 per share on the Mib - and Cassa Depositi e Prestiti.
On the Small-Cap, Edison - in the red by 0.7 percent - on Thursday disclosed that it had signed a long-term power purchase agreement with the FERA group - Fabbrica Energie Rinnovabili Alternative - to manage the energy produced by a wind farm with an installed capacity of 20 MW, in the province of Savona, Liguria.
The five-year agreement calls for Edison to take delivery of all the renewable energy generated, attested by the relevant guarantees of origin, which the group will manage on the market and resell to its customers interested in a renewable supply contract; while FERA retains operational management and maintenance of the asset.
PLC closed in the green by 2.7 percent after it announced Wednesday that PLC System Srl and Cebat Spa have signed a contract with Metka EGN Italy Srl for the connection works of a plant with a total capacity of approx. 87 MWp in the province of Latina.
The contract provides for the performance of engineering and construction activities for the medium and high voltage connection and the Utility Substation.
FNM -- down 0.9 percent -- reported Thursday that the regional council approved the contract text regarding the update of the service contract between Ferrovienord Spa and the Lombardy Region in force for the period Jan. 1, 2023 to Dec. 31, 2027.
Among SMEs, Renergetica -- in the red by 1.0 percent -- on Friday announced that it had formalized with its single-member parent company CVA Eos Srl the sale of three special purpose vehicles.
Specifically, these are Ren 167 Srl, holder of the Sole Authorization for the construction of a photovoltaic plant with a capacity of 2.44 MW in the Province of Viterbo; Ren 170 Srl, holder of the PAS Authorization Title for the construction of a photovoltaic plant with a capacity of 9.99 MW, in the Province of Matera; and Ren 208 Srl, holder of the PAS Authorization Title for the construction of a photovoltaic plant with a capacity of 5.448 MW in the Province of Catania.
Redelfi closed in the green by 3.6 percent, after it let it be known on Friday that the drafting of the contractual set aimed at regulating what was agreed between Redelfi and Flash Spa, a WRM Group company, in the term sheet signed last October, concerning the creation of a joint venture for the joint development of stand-alone Battery Energy Storage Systems in Italy, is continuing.
In order to ensure continuity to the agreements reached in the process of being finalized, Redelfi and Flash extended the term sheet duration until January 31, 2024.
In New York, the Dow closed down 0.1 percent, the Nasdaq gave up 0.6 percent, and the S&P 500 left 0.3 percent on the sidelines.
Among currencies, the euro changed hands at USD1.1033 against USD1.1054 recorded in Friday's European equities close while the pound is worth USD1.2735 from USD1.2738 on Friday evening.
Brent crude is worth USD78.39 per barrel versus USD77.64 per barrel at Friday's close. Gold, on the other hand, trades at USDan ounce from USD2,076.30 an ounce Friday night.
On Tuesday's macroeconomic calendar, the manufacturing purchasing managers' index will be released in Spain at 0915 CET. Half an hour later, the figure is published for Italy, followed by France, Germany, the UK and the Eurozone.
At 1200 CET, data on car registrations in Spain are published.
Overseas, at 1545 CET, it is the turn of the U.S. manufacturing purchasing managers' index. At 1600 CET, the data on construction spending is published.
On the bond front, at 1455 CET, three-, six- and 12-month French BTF auctions are published in France. From the US, at 1730 CET, it is the turn of Treasury bond auctions with three- and six-month maturities.
Among companies listed on the Milan Stock Exchange, no particular announcements are expected.
By Maurizio Carta, Alliance News reporter
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