(Alliance News) – Europe’s major stock markets closed higher on Wednesday, with the Mib above 27,500 points and the FTSE100 surpassing 8,000, thanks in part to a drop in annual inflation in the United Kingdom to 10.1 percent in January from 10.5 percent in December, below market forecasts of 10.3 percent, the ONS reported on Wednesday.
Eyes are also on crude oil prices, “which look set to fall for the second consecutive day,” comments Michael Hewson, Chief Market Analyst at CMC Markets, after the latest API inventory showed a big jump of 10.5 million barrels in data released yesterday, well above expectations. This was followed by a similar build of 16.5 million barrels in EIA inventories. Gasoline inventories also rose, indicating that demand was beginning to fall as higher interest rates continued to take their toll.”
U.S. crude oil inventories also rose by 16.2 million barrels to 842.9 million in the week ended Feb. 10, the highest level since early October, according to Wednesday’s data from the U.S. Energy Information Administration.
Thus, the FTSE Mib closed in the green by 0.1 percent at 27,533.69.
The Mid-Cap closed up 0.3 percent at 44,789.18, while the Small-Cap rose 0.3 percent to 30,349.10 and Italy Growth was on par at 9,671.09.
In Europe, Paris’ CAC 40 finished in the green by 1.2 percent, London’s FTSE 100 was up 0.6 percent and while Frankfurt’s DAX 40 picked up 0.8 percent.
On the main list in Piazza Affari, Interpump Group ended up 0.9 percent. The company approved its December 31 interim report, which closed with consolidated net income for the period at EUR269.6 million from EUR198.5 million, up nearly 36 percent.
Net sales for the year were EUR2.07 billion, up 30 percent on the previous year.
FinecoBank closed in the red by 0.8 percent. It announced Wednesday that it is considering a possible issuance of senior preferred instruments.
To that end, Fineco has mandated BNP Paribas and UniCredit Bank–already arrangers of the EMTN program–as well as Société Generale, all as joint bookrunners and joint lead managers, to organize dedicated meetings with potential investors in Europe, starting today.
Azimut Holding closes down 2.4 percent. The company announced Wednesday that just hours after the sale was initiated, Timone Fiduciaria completed the sale of 1.3 million ordinary shares of Azimut Holding.
The shares, representing 0.9 percent of the company’s capital, were sold at an average unit price of EUR22.35 each, for a total consideration of EUR28.2 million.
Snam ends 0.1 percent in the red after denying on Wednesday rumors that it is considering issuing a convertible bond to exit the capital of Italgas, which ended down 2.8 percent.
“Snam clarifies that it has not taken any action in relation to the Italgas stake it holds. Hypotheses about financial transactions initiated are unfounded to date,” explained the utility, which holds 13.5 percent of Italgas.
On the Mid-Cap, Autogrill closed in the green by 0.6 percent. The company announced Wednesday that it had approved preliminary figures for 2022, reporting full-year consolidated revenues of EUR4.14 billion, up 50 percent from EUR2.60 billion in 2021.
An increase, the company explained in a note, mainly driven by the recovery of international air traffic in all of the group’s key geographies and “the activation of the appropriate commercial levers to address the current inflationary environment.”
Anima Holding closed in the green by 3.1 percent after Mediobanca announced Wednesday morning that it had concluded on behalf of FSI the purchase of 25.0 million ordinary shares of Anima Holding in a “reverse accelerated bookbuilding” procedure. The total consideration, based on a price per share of EUR4.35, is equivalent to a EUR108.7 million outlay for the strategic fund.
In detail, a maximum of 31.2 million ordinary shares of Anima Holding, representing 9.0 percent of the latter’s share capital, will be taken over.
“The Italian Strategic Fund’s blitz on Anima Holding’s capital rekindles the spotlight on the world of asset management and, upstream, on the banking risiko and the birth of that third pole long hoped for by the government,” comments Francesco Bonazzi.
Acea ends in the red by 0.4 percent. On Tuesday evening it announced that Michaela Castelli had resigned, effective immediately, from her position as director and chairman of the board for personal reasons.
On the Small-Cap, Sabaf — up 0.5 percent — on Tuesday approved its results as of December 31, 2022, reporting a 3.9 percent drop in revenues to EUR253.1 million from EUR263.3 million a year earlier.
Net income for the period was EUR15.7 million, down 34 percent from EUR23.9 million in FY2021.
Elica closes up 2.3 percent after announcing on Tuesday that it achieved revenues of EUR548.6 million in FY2022, up 1.4 percent from EUR541.3 million in FY2021.
Ebitda as of December 31, 2022 amounted to EUR50.8 million up 32 percent from EUR38.5 million in the year 2021.
GPI – in the red by 3.6 percent – on Wednesday reported that its board of directors reviewed its consolidated pre-consolidated figures for the year 2022, which ended with total revenues of more than EUR355 million, up from EUR326.9 million achieved in 2021.
Among SMEs, CY4Gate – in the red by 1.5 percent – reported Tuesday that the total value of contracts acquired in recent weeks in the cybersecurity segment amounts to about EUR1.3 million, for the duration of one year.
Farmaé closed in the green by 1.0 percent after announcing Tuesday that it reported a 41 percent increase in 2022 consolidated revenues to EUR116.6 million from the EUR82.5 million recorded as of Dec. 31, 2021, and up 13 percent from the EUR102.5 million in pro forma 2021 consolidated revenues.
In New York-with stock exchanges trading flat-the Dow is giving up 0.2%, the Nasdaq is picking up 0.3%, and the S&P 500 is in the red by 0.1%.
Among currencies, the euro changes hands at USD1.0677 versus USD1.0716 at Tuesday’s close. In contrast, the pound is worth USD1.2019 from USD1.2149 on Tuesday evening.
Among commodities, Brent crude is worth USD84.11 per barrel versus USD85.19 per barrel on Tuesday evening. Gold, meanwhile, trades at USD1,831.95 an ounce from USD1,848.00 an ounce at Tuesday’s close.
On Thursday’s economic calendar, several macros are expected from Japan at 0050 CET, including imports, exports, and the trade balance.
At 0900 CET, Istat will release Italy’s non-EU trade balance, while at 1000 CET will come our country’s balance relative to European countries.
At the same time, it is the turn of the ECB monthly report while in the afternoon, at 1430 CET are expected of US building permits.
Also from the U.S. and also at 1430 CET, the index of main producer prices and initial claims for unemployment benefits will come out.
Among the companies in Piazza Affari, the results of Pattern and Saccheria F.lli Franceschetti are expected.
By Chiara Bruschi, Alliance News reporter
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