(Alliance News) – Piazza Affari is expected to get off to a broadly cautious start on Wednesday, with the market waiting for tomorrow’s Bank of England decision to shake things up a bit after a lackluster start to the week from a macroeconomic and corporate perspective.
The FTSE Mib, according to IG futures, is given up just 10.0 points, or less than 0.1 percent, after closing down 0.6 percent at 27,576.11 on Tuesday’s session.
In Europe, London’s FTSE 100 is given down 12.0 points or 0.2 percent, Paris’ CAC 40 is listed down 4.8 points or 0.1 percent, and Frankfurt’s DAX 40 is expected to be up just 2.5 points.
In Milan last night, the Mid-Cap gave up 0.6 percent to 42,967.60, the Small-Cap closed in the red 0.6 percent to 27,247.73 while the Italy Growth contracted 0.6 percent to 9,082.97.
On the main basket of Piazza Affari, among the bullish-minority on the list was BPER Banca, up 1.5 percent, in its third bullish session.
Telecom Italia is up 0.6 percent, after reporting that the board met Monday to review, as part of the competitive process related to Netco, the two non-binding bids submitted, respectively, by the consortium formed by CdP Equity Spa and Macquarie Infrastructure and Real Assets (Europe) Limited, acting on behalf of a group of investment funds managed or advised by the Macquarie Group, and Kohlberg Kravis Roberts & Co LP, also known as KKR. TIM’s board of directors will complete its review of the bids on June 22.
Terna gained 0.1 percent after announcing Monday that a share buyback program will be launched on June 22, for a maximum outlay of EUR7 million and a total number of ordinary shares not exceeding 1.4 million, representing about 0.1 percent of the company’s share capital.
Stellantis, on the other hand, sold 2.3 percent at EUR15.38 per share. As Francesco Bonazzi writes in Alliance News, “the government led by Giorgia Meloni, after receiving a sharp no to the hypothesis of entering the capital of the French carmaker, is looking for other manufacturers to come and produce cars in Italy. “Our incentives go largely to cars produced abroad,” said Minister of Enterprise and Made in Italy, Adolfo Urso.
“The automotive situation in Italy is close to collapse, due to the few orders from Stellantis and the fact that we do not have other domestic manufacturers of sufficient size. Yesterday, Minister Adolfo Urso, at the end of the union tables on the situation of the sector, broke an age-old taboo, for Italy, wishing for the descent of other automotive causes in the Peninsula,” Bonazzi stressed.
Mediobanca closed 1.1 percent in the red after it announced Monday that Compass, the group’s consumer credit company, has signed an agreement to take over 100 percent of HeidiPay Switzerland from HeidiPay, a fast-growing Swiss financial company specializing in Buy Now Pay Later, with more than 400 commercial agreements with major distributors, luxury brands and technology operators, active in the territory.
Tenaris, on the other hand, gave up 2.4 percent, closing for the third session in a row among the bearish.
On the Mid-Cap, good session for Seco, which rose 1.6 percent after two bearish sessions.
OVS, on the other hand, picked up a plus 1.2 percent, rearing its head again after two sessions closed lower.
On a negative note, GVS gave up 3.1 percent, following the 1.8 percent decline in the eve.
Maire Tecnimont closed down 0.4 percent after announcing Tuesday that its subsidiaries part of the Integrated E&C Solutions and Sustainable Technology Solutions business units won new contracts worth a total of about USD260 million from international clients mainly in Europe, Asia and South America.
Rai Way lost 1.6 percent after rising 2.0 percent on the eve of the day.
Technogym, on the other hand, rallied 0.7 percent after announcing Monday that it has unveiled its medium-term profitable and sustainable growth targets. Revenues are expected to grow at an average annual rate of about 10 percent due to the launch of new products, digital and AI solutions, entry into new markets, and growing interest in exercise protocols aimed at health. Adjusted Ebitda margin is expected to grow between 40 and 70 basis points annually due to economies of scale, quality improvement, logistics optimization and supply chain control.
On the Small-Cap, buying on Il Sole 24 Ore, which brought home a plus 4.8 percent after Monday’s 1.7 percent decline at the close.
Boost also on Gequity, which moved up 3.4 percent after two sessions closed in the red.
algoWatt gave up more than 12 percent. The company announced Monday that it had approved its new business plan to 2025, consistent with the proposed updated financial maneuver announced earlier to the market and to “exit the current state of financial stress, through the modification of the business…
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