(Alliance News) – Piazza Affari closed higher in Wednesday’s session, just before the Federal Reserve’s announcement on monetary policy and the day before the European Central Bank’s announcement.
“It was a positive session for most indexes, apart from the Dow, which struggled due to weakness in healthcare stocks. Investors seem relatively confident that the Fed will leave rates unchanged. After all, yesterday’s consumer price index confirmed the theme of weakening inflation, a motif also coupled with data on industrial producer prices. Clearly, the Fed will not rule out a hike in July, but if it gives indications in that direction today, stocks could see further gains.”
“The last six Fed meetings have seen significant volatility following the central bank’s decision, with sellers prevailing in the final hours of the trading session. This burst of risk aversion could run out today, putting short-term pressure on the indexes. With the ECB following up tomorrow with its own decision, we could see a short-term risk fight.”
The FTSE Mib closed up 0.9 percent at 27,809.09, the Mid-Cap finished flat at 43,972.36, the Small-Cap rose 0.3 percent to 27,614.81, and Italy Growth closed flat at 9,137.66.
In Europe, London’s FTSE 100 closed up 0.1 percent, Paris’ CAC 40 rose 0.5 percent and Frankfurt’s DAX 40 gained 0.6 percent.
Telecom Italia closed up 4.5 percent after sources close to the network dossier reported that KKR could join forces with Cassa Depositi e Prestiti to take over the former monopolist’s coveted asset. Instead, Macquarie would defect, with the Australian fund intent on taking over Open Fiber’s black areas, thus giving the go-ahead – and the necessary funds – for CDP to appear in TIM’s court along with the U.S. fund.
In addition, this would overcome both antitrust and political obstacles, with the government preferring that the network not end up completely in foreign hands.
DiaSorin gained 0.4 percent after announcing the launch of the new Liaison Brahms MR-proADM immuno-diagnostic test in all countries that accept CE marking.
The test enables improved patient management by helping to assess the degree of severity of various diseases and associated risk.
ERG is up 0.2 percent after announcing that it has joined the Nasdaq Sustainable Bond Network, a platform dedicated to sustainable finance on the New York electronic exchange that brings together investors, issuers and investment banks.
Banks then did well, with UniCedit and Monte dei Paschi leading the way, thanks to respective rises of 3.3 percent and 2.4 percent.
At the bottom, Leonardo and Saipem closed, both down 1.8 percent, among the few bearish performers in the highest-capitalization basket in Piazza Affari.
On the Mid-Cap, OVS lost 7.6 percent after approving results for the first quarter of the year, February to April 2023, reporting net sales up to EUR336.5 million from EUR299.9 million in the same period of 2022.
Ebitda is EUR27.5 million from EUR20.1 million in the first quarter of 2022. Ebit was EUR11.7 million from EUR5.7 million at the end of April 2022. Pre-tax income is EUR7.7 million from EUR700,000 in the first quarter of 2022.
After rallying in the past two days, former Mediaset’s stock brakes on the stock market. But speculation about a possible reorganization of the TV stations founded by Silvio Berlusconi is not diminished. Any scenario, however, must reckon with the government’s Golden Power, whose regulations can also apply to the communications sector and even to groups with headquarters abroad but with Italian subsidiaries, as is the case with MFE.
On the day of the former premier’s funeral, MFE’s A shares lost 2.8 percent while B shares dropped 2.5 percent.
Credito Emiliano gained 1.6 percent after Credemvita’s board of directors decided on a EUR100 million capital increase that will be fully subscribed by Credito Emiliano, which wholly controls the company, with a view to supporting the company’s development strategy and maintaining high levels of solidity.
Among small-cap companies, Fiera Milano closed up 3.3 percent after announcing that Andrea Maldi has resigned as the company’s chief financial officer and manager in charge of financial reporting.
Maldi, who consensually terminated his contract with the company, is due EUR400,000 in severance pay, plus EUR50,000 linked to the 2023 MBO plan. He is also the beneficiary of 38,750 Fiera Milano shares falling under the 2021-2022 performance share plan.
Replacing him in both roles will be Massimo De Tullio, former Group Planning & Control Director at Fiera Milano since 2018.
d’Amico International Shipping rose 1.1 percent. Shareholders approved the amalgamation of the company’s shares in the ratio of one new share for every ten existing shares. Following the amalgamation, the company’s…
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