Futures await rising stock markets

(Alliance News) - On Friday, major European stock markets are expected to be in positive territory on an uneventful morning in the macroeconomic and corporate fronts.

Thus, IG futures give the FTSE Mib in the green by 0.3 percent or up 90.0 points, after closing up fractionally at 34,318.11.

Paris' CAC 40 is expected up 0.2 percent or up 16.5 points, Frankfurt's DAX 40 is given in the green by 0.2 percent or up 38.9 points, and London's FTSE 100 is expected up 0.4 or up 33.4 points.

In macroeconomic news, the U.S. budget deficit narrowed slightly from a year earlier in the first nine months of the fiscal year, thanks to increased tax receipts from individuals and businesses, the Treasury Department said Thursday.

The budget deficit narrowed by USD125 billion to USD1.3 trillion in the October-June period, compared with USD1.4 trillion a year earlier.

In Asia, China's exports rose sharply in June, while imports fell unexpectedly, official data showed Friday, further evidence that the world's second-largest economy is tracking an uneven recovery.

The Customs Department said sales of goods and services abroad rose 8.6 percent year-on-year, up from 7.6 percent in May and better than the 8 percent expected in a Bloomberg analyst survey.

In addition, wholesale prices in Germany fell 0.6 percent year-on-year in June 2024, easing from the previous month's 0.7 percent decline.

This was the 14th consecutive month of falling producer prices, but the softest pace in the sequence.

Returning to Milan's smaller listings on Thursday, the Mid-Cap closed up 0.8% to 48,443.41, the Small-Cap advanced 0.5% to 29,267.90 while Italy Growth rose 0.1% to 8,096.38.

On the Mib, good session for Inwit, which rallied 3.5 percent to EUR10.14 per share, in its second session with a bullish candle.

Iveco, on the other hand, picked up 2.9%. The company announced Wednesday that Iveco Bus, the group's city, intercity, and touring coach brand, has signed a framework agreement to supply more than 900 Crossway buses to Austria's ÖBB Postbus AG, the country's largest bus company and market leader in regional bus services. The framework contract has a total value of about EUR225 million.

Campari closed ahead 1.7 percent at EUR8.57 per share, rearing its head after three bearish sessions.

On Thursday, the European Investment Bank and Poste Italiane signed a financing agreement worth EUR450 million aimed at boosting the digitization of services and building a more modern, efficient and sustainable logistics and postal ecosystem. Poste Italiane closed the session in the green by 0.2 percent.

Among the few negative notes, Leonardo, on the other hand, gave up 0.3 percent to EUR22.96, after two sessions closed with bullish candles. It is reported that Deutsche Bank raised the targt price on the stock to EUR26.00 from EUR25.00.

On the cadet segment, strength on MFE, with class A shares in the green by 7.3 percent and class B up more than 10 percent.

As Alliance News columnist Francesco Bonazzi explains, "MFE is flying on the stock market after JPMorgan analysts changed their recommendation on the stock from 'overweight' to 'neutral.' Promotion also for German investee ProsiebenSat1. Also today, the daily newspaper "La Repubblica" raises rumors about a long-term plan for Pier Silvio Berlusconi's political candidacy, which he has so far always denied."

For Ariston Holding, on the other hand, the rise is 4.1 percent to EUR3.98 per share, on the heels of the eve's green closed with a plus 1.2 percent. Of note, on the stock Citadel Securities Gcs raised its short position to 0.51 percent from 0.44 percent previously.

Webuild -- up 2.2 percent -- on Thursday made it known that it is in pole position for a new sustainable mobility project in Melbourne: the group, part of the Terra Verde joint venture, has been selected as the highest bidder for the "Tunnels North" lot of the Suburban Rail Loop East. The final contract award is expected later this year.

LU-VE -- in the money with 0.8 percent -- reported Thursday that first-half product sales fell 8.4 percent year-on-year to EUR292.8 million, in line with expectations. The order backlog, on the other hand, increased 9.4 percent from Dec. 31 and 1.2 percent year-on-year, to EUR170.9 million.

Among the bearish, minority also on this list, Caltagirone left 2.1 percent on the platter, in its third session in a row with a bearish candle.

Carel Industries, on the other hand, gave up 3.3 percent, positioning itself at the bottom after a 0.2 percent loss on eve.

On the Small-Cap, Landi Renzo rallied 4.0%, tacking to the upside after two bearish sessions.

Somec, on the other hand, advanced 4.6% to EUR18.30 per share, in its third bullish session and closing as the segment's best performer.

PLC -- ahead 2.9 percent -- on Thursday reported that PLC System Srl has signed two contracts related to the construction of HV/MV infrastructure for the connection to the electricity grid of two wind power plants with a capacity of 45 MWp and 80 MWp respectively located in the province of Foggia, Italy, held by the BKW Group's special purpose company, Veneta Energie Srl. The contract has a total consideration of more than EUR11.5 million, including more than EUR9.5 million for services rendered by PLC System alone.

Among the negative notes, Exprivia gave up 4.7 percent, in its third downtrending session in a row.

Among SMBs, Deodato.Gallery led the price up 5.2 percent, rebounding after four sessions in negative balance.

On the other hand, iVision Tech - best on the list - is up 9.6 percent, on the heels of eve's green with 5.0 percent breaking nine sessions of bullish trend.

Simone - up 1.6 percent - on Thursday reported that it has applied for tax breaks under the Special Economic Zone. The company will invest EUR2.5 million for a new digital printing plant, of which EUR2.3 million will be eligible for both ZES and 4.0 tax breaks.

The board of directors of Gibus -- down 1.9 percent -- on Thursday reviewed and approved consolidated operating revenues as of June 30, a period ended with revenues of EUR47.6 million, down 6.2 percent from EUR50.7 million as of June 30, 2023. Revenues earned abroad were EUR21.3 million and accounted for 45 percent of the total, while they were EUR22.0 million as of June 30, 2023, or 43 percent of the total.

Among the many bearers, Execus, on the other hand, gave up 4.8 percent to EUR1.79 per share after two sessions closed flat.

In Asia, the Nikkei is down 2.3% to 41,262.46, the Shanghai Composite gains 0.1% to 2,973.75, and the Hang Seng picks up 2.4% to 18,255.50.

In New York, at Thursday's close, the Dow rallied 0.1 percent to 39,753.75, the Nasdaq gave up 2.0 percent to 18,283.41 and the S&P 500 fell 0.9 percent to 5,584.54.

Among currencies, the euro changed hands to USD1.0869 from USD1.0867 on Thursday in closing European equities while the pound was worth USD1.2912 against USD1.2913 on Thursday evening.

Among commodities, Brent crude trades at USD85.80 per barrel from USD85.53 per barrel at Thursday's close. Gold, on the other hand, trades at USD2,412.25 an ounce from USD2,418.23 an ounce on Thursday evening.

Friday's macroeconomic calendar includes, at 0845 CEST, France's inflation and, at 0900 CEST, Spain's inflation.

In the afternoon, from the U.S., at 1900 CEST will be coming the Baker Hughes data. Finally, at 2130 CEST, as usual on Friday, it will be the turn of the COT report.

Among the companies, no particular event is scheduled.

By Claudia Cavaliere, Alliance News reporter

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