The Mib and the Europeans open before the PMIs


Piazza Affari opened moderately on Thursday, as planned before the bell rang, minutes before the arrival of services PMIs for the main euro zone economies.

Meanwhile, China’s services sector grew at a faster pace in late 2023, according to the latest data from Caixin. The services PMI rose from 51.5 points in November to 52.9 points. This figure, which exceeds the neutral threshold of 50.0 points, shows that growth accelerated during the month.

Japan’s manufacturing sector contracted more severely at the end of 2023, according to Au Jibun Bank survey data released on Thursday, although companies in the sector are feeling positive about the future.

Au Jibun Bank’s PMI fell to 47.9 points in December from 48.3 points in November. By falling even lower than the neutrality threshold of 50 points, the figure indicates a worsening slowdown in Japanese factories. This is the worst reading since February, but is slightly higher than the preliminary figure of 47.7.

The FTSE Mib was up 0.4 percent at 30,228.05, the Mid-Cap rose 0.4 percent to 43,580.86, the Small-Cap gained 0.2 percent to 27,887 .77, and Italy Growth remained stable at 8,278.19.

In Europe, London’s FTSE 100 opened 0.4% higher at 7,710.90, Paris’ CAC 40 gained 0.3% at 7,435.32 and Frankfurt’s DAX 40 gained 0.3 % at 16,590.68.

On the main Piazza Affari listing, Leonardo opened up 2.0% and led the gains, with nearly 600,000 coins changing hands in just a few minutes.

On the other side of the spectrum, Tenaris is down 0.8% after Jefferies downgraded the stock from “buy” to “hold” and reduced its price target from 19.00 to 18.00 euros. A Tenaris share is now worth 15.6750 euros.

Banks continued to perform well, with Montepaschi up 1.4% and continuing to climb since 2023, followed by BPM and BPER, up 1.3% and 0.9% respectively.

On the midcap side, d’Amico rose 2.3% after announcing the purchase of 50,000 shares of Tamburi Investment Partners, which opened up 0.1%.

The shares were purchased at an average price of 9.1971 euros per share for a total value of approximately 459,855.00 euros.

The most traded title is also the one that lost the most, that of Juventus, which lost 0.7% and saw 158,000 titles exchanged in a few minutes.

Among small caps, ePrice opens in the red by 8.3% after announcing that it had received a request from Negma Group Investment to convert two bonds. The bonds are part of the first two tranches – out of a total of 161 bonds – of the convertible bond loan subscribed by Negma and the two in question have a total value of 20,000 euros.

The price per share will be 0.0008 euros and Negma will receive 25.0 million shares after conversion. As a result, the share capital of ePrice will increase to 8.3 million euros and the number of shares will be 235.0 million.

Acinque is not yet listed on the stock exchange after having concluded the acquisition of 70% of Agesp Energia, a company which operates in the sale of electricity and gas and which has been the reference operator, for more than 60 years , in the Busto Arsizio region, for its 39,300 customers. The company also operates in the district heating service and owns the dedicated network as well as the cogeneration plant that serves it.

In 2022, Agesp Energia recorded an Ebitda of 3.3 million euros, with an average annual Ebitda of 4.5 million euros expected for the next five years, and a net financial debt of 18.7 million euros. euros.

algoWatt increases by 1.1%. The small cap announced on Wednesday that it had received a grant of around 351,000 euros for the activities of the digital energy service provider under the project “SIESTA – Secure Interactive Environments for SensiTive data Analytics”, funded by the European Commission as part of the Horizon Europe program.

The SIESTA project, with a total duration of 36 months and with community funding of approximately 5 million euros, is coordinated by the Agencia Estatal Consejo Superior de Investigaciones Científicas.

Among the SMEs listed in Milan, Circle is tied minutes after announcing that its subsidiary Magellan Circle has been awarded the Horizon Europe Foremast project for the modal transfer from road to maritime transport through the use of prototypes of automated, small, flexible and zero-emission vessels.

Circle will receive 235,000 euros over 36 months. In addition to Magellan Circle, 15 partners from nine European countries are also participating in the initiative.

Illa opens down 5.5% after the consolidation of its ordinary shares at the rate of one new ordinary share without par value for every 1,000 existing ordinary shares without par value, without reduction in the total amount of share capital.

In Asia, the Nikkei closed 0.5% lower at 33,288.29 on Thursday, the Shanghai Composite fell 0.4% to 2,954.35 and the Hang Seng edged lower at 16,645.98.

In New York, as of Wednesday’s close, the Dow Jones was down 0.8% at 37,430.19, the Nasdaq fell 1.2% to 14,592.21 and the S&P 500 lost 0.8%. at 4,704.81.

Among currencies, the euro traded at $1.0946 from $1.0915 as European markets closed, while the pound was trading at $1.2695 from $1.2646 last night.

A barrel of Brent was worth 78.92 USD against 77.97 USD at Wednesday’s close. Gold, meanwhile, is trading at USD 2,048.10 per ounce compared to USD 2,034.61 per ounce last night.

Thursday’s macroeconomic calendar includes, starting at 0915 CET and running through 1030 CET, Purchasing Managers’ Index and composite PMI data from some of the major European economies and the Eurozone itself: l Spain, Italy, France, Germany and the United Kingdom.

Also at 10:30 CET, data on mortgages, M3 and M4 money supply and consumer credit from the BoE will be released in the UK.

In the afternoon, the German Federal Statistical Office will release the country’s inflation data. Overseas, at 1430 CET, data on pending unemployment claims arrives from the United States and at 1545 CET, the Purchasing Managers’ Index and the United States Composite Index.

Finally, at 1700 CET, it will be the turn of data on crude oil stocks.

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