Milan on the rise; volumes raised on Bastogi and Esautomotion
(Alliance News) – At mid-session on Monday, Piazza Affari traded in the green – as did other European exchanges – with March rooms continuing to monitor China’s “reopening” as nervousness grows over Rumors of further policy changes by the Bank of Japan this week as it grapples with how to control the yield curve following December’s change to the 0.5 percent yield band cap.
In the meantime, traders will be keeping an eye out for comments from several central bank officials, ECB President Lagarde and Panetta to announce at the Eurogroup Brussels meeting later today. .
On the economic data front, wholesale price inflation in Germany slowed to 12.8 percent in December after rising 14.9 percent in November, a Destatis report Monday. December’s figure is the lowest since August 2021. Raw material and preliminary product prices were the main drivers of the increase, but the biggest impact came from the cost of petroleum products, up 23 %, followed by solid fuels, up 82%, and live animals, up 48%.
The FTSE Mib therefore rose 0.2% to 25,839.90.
In Europe, London’s FTSE 100 was up 0.1%, as was the Paris CAC 40, while Frankfurt’s DAX 40 was up 0.2%.
Among the smallest quotes, the mid cap increased by 0.3% 42,160.04, the small cap by 0.3% 29,338.68 and the Italian growth by 0.3% 9,518.40.
On the main Piazza Affari listing, DiaSorin was up 2.9%, after the previous session’s 2.3% gain.
Banco BPM, on the other hand, rose 2.3%. Redburn has raised its recommendation on the “buy” stock.
Saipem also performed well, up 2%, while parent company Eni lost ground, albeit just below par. The six-legged dog announced this weekend a major new gas discovery at the Nargis-1 exploration well in the Nargis Offshore Area concession in the Eastern Mediterranean, off Egypt. The Nargis-1 well, for one per 309 meters of water by the forage vessel Stena Forth, encountered approximately 61 meters of Miocne and Oligocene sandstone containing gas. The discovery can be developed by exploiting the proximity of Eni’s existing infrastructure.
Snam, meanwhile, an increase of 0.7% to reach 4.89 euros. Deutsche Bank raised its target price on the title to 5.20 euros, against 5.00 euros previously.
Among the few bearish performers is Banca Generali, which has a EUR0.90 cd from the field. The bank said last week that total net inflows in December were 640 million euros, compared to 849 million euros in December 2021. The last month at the best of the year 2022, and total inflows since January have exceeded 5.70 billion euros, compared to 7.69 billion euros for the whole of 2021.
On the cadet segment, Alrion pulled 2.5% to 32.35 euros per share.
SOL is doing better than all the others, with an increase of 3% 18% since the start of the year.
Webuild – in the money with 1.0% – announced on Monday that U.S. subsidiary Lane has been awarded a $218 million contract to increase capacity and improve mobility and safety at the Interstate 4 intersection (I- 4) and Sand Lake Road (State Road 482) in Orange County, Florida. The intersection is part of Orlando’s famous tourist corridor which is based on some of Central Florida’s most important attractions, such as Universal Studios, Sea World and Walt Disney World.
Salvatore Ferragamo also climbed, marking an increase of 0.3% to 17.75 euros. On the title, Bank of America raised its fair value to 14.00 euros against 12.00 euros.
In the red, Monte dei Paschi, which closed down 3.7% after three sessions on the rise.
On the small cap side, Giglio.Group bought, rising 7.9 percent to EUR 1.19.
AlgoWatt also flew higher. The company announced on Monday that it had received funding of 275,000 euros for its activities as a provider of digital energy solutions and systems integrator within the framework of the Thumbs Up project “grid balancing and potential for flexibility”.
Among bearers, Bastogi was down 3.2 percent EUR0.6120. The stock was trading high volume, near 18,000 against a three-month average of around 7,300.
Among SMEs, Culti Milano is ahead 3.9%, rebounding from Friday’s 5.1% drop.
Esautomotion did even better, appreciated by 6.7%, after Friday’s green by 4.9%. Trading volume in the security was also abnormally high, with 52,000 hand changes versus a three-month average of around 8,700 per day.
On the downside, Alfonsino fell 3.4 percent, closing the listing and setting the price bar at EUR0.4870.
New York, Friday evening, the Dow closed in the green with an increase of 0.3%, the Nasdaq of 0.7% and the S&P 500 of 0.4%.
Among Asian markets, the Nikkei fell 1.1 percent, the Hang Seng closed just above par, while the Shanghai Composite rallied 1.0 percent.
Among currencies, the Euro changed hands USD1.0833 against USD1.0818 Friday’s crop. The pound, meanwhile, was worth 1.2217 USD against 1.2199 USD on Friday evening.
Among commodities, Brent crude oil is worth $84.56 a barrel, down from $84.43 a barrel Friday night. Gold, meanwhile, is trading at $1,917.31 an ounce, down from $1,911.08 an ounce the previous session.
By Maurizio Carta, journalist for Alliance News
Comments and questions [email protected]
Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.