(Alliance News) - Piazza Affari opens moderately higher Thursday, as expected before the bell rings, minutes before the arrival of services PMIs for the major Eurozone economies.
Meanwhile, China's services sector expanded at a faster pace at the end of 2023, according to the latest data from Caixin. The services PMI rose to 52.9 points from 51.5 points in November. Rising further above the neutral threshold of 50.0 points, the figure shows that growth picked up during the month.
Japan's manufacturing sector contracted more severely at the end of 2023, according to au Jibun Bank survey data released Thursday, although companies in the industry are feeling positive about the future.
Au Jibun Bank's PMI fell to 47.9 points in December from 48.3 points in November. Falling further below the neutral threshold of 50 points, the figure indicates a worsening downturn in Japanese factories. It was the worst figure since February but slightly higher than the preliminary figure of 47.7.
The FTSE Mib is up 0.4 percent to 30,228.05, the Mid-Cap rises 0.4 percent to 43,580.86, the Small-Cap gains 0.2 percent to 27,887.77, and Italy Growth is tied at 8,278.19.
In Europe, London's FTSE 100 opened up 0.4 percent to 7,710.90, Paris' CAC 40 is up 0.3 percent to 7,435.32 and Frankfurt's DAX 40 gains 0.3 percent to 16,590.68.
On the main list in Piazza Affari, Leonardo opens up 2.0 percent and leads the gainers, with nearly 600,000 changed hands in a few minutes.
On the other side of the list square Tenaris, down 0.8% after being downgraded to 'hold' from 'buy' by Jefferies, which also cut its target price to EUR18.00 from EUR19.00. One share of Tenaris today is worth EUR15.6750.
Banks are still doing well, with Montepaschi up 1.4 percent and continuing to rise from 2023, followed by BPM and BPER, up 1.3 percent and 0.9 percent, respectively.
On the Mid-Cap, d'Amico rises 2.3% the day after announcing that it bought 50,000 shares of Tamburi Investment Partners, which opened up 0.1%.
The shares were purchased at an average unit price of EUR9.1971 for a total value of about EUR459,855.00.
The most traded stock is also the one that loses the most, which is that of Juventus, which gives up 0.7 percent and sees 158,000 shares traded in a few minutes.
Among lower-capitalization companies, ePrice opens in the red by 8.3 percent after making it known that it has received a request from Negma Group Investment to convert two bonds. The bonds are part of the first two tranches--from a total of 161 bonds--of the convertible bond issue underwritten by Negma, and the two in question have a total equivalent value of EUR20,000.
The price per share will be EUR0.0008 while 25.0 million shares will go to Negma after conversion. Following this, ePrice's share capital will rise to EUR8.3 million and the number of shares will be 235.0 million.
Acinque is not yet trading after finalizing the acquisition of 70 percent of Agesp Energia, a company that operates in the sale of electricity and gas and has been the operator of choice in the Busto Arsizio area for more than 60 years for its 39,300 customers. The company also operates district heating service and owns the dedicated network as well as the cogeneration plant serving it.
In 2022, Agesp Energia reported Ebitda of EUR3.3 million, with EUR4.5 million average annual Ebitda expected over the next five years, and net financial debt of EUR18.7 million.
algoWatt rises 1.1 percent. The smallcap on Wednesday announced that it has been awarded a grant of about EUR351,000 for Digital Energy Service Provider activities on the project "SIESTA - Secure Interactive Environments for SensiTive data Analytics," funded by the European Commission under the Horizon Europe program.
The SIESTA project, with a total duration of 36 months and EU funding of approximately EUR5.0 million, is coordinated by the Agencia Estatal Consejo Superior de Investigaciones Científicas.
Among Milan-listed SMEs, Circle is in a tie just minutes after reporting that its subsidiary Magellan Circle has been awarded the Horizon Europe Foremast project for a modal shift from road to sea transport using prototype automated, small, flexible, zero-emission vessels.
Circle will receive EUR235,000 over 36 months. In addition to Magellan Circle, 15 partners from nine European countries are also taking part in the initiative.
Illa opens down 5.5 percent after common shares were regrouped at the ratio of one new common share, no par value, for every 1,000 existing common shares, no par value, without reducing the total amount of share capital.
In Asia, the Nikkei closed Thursday down 0.5 percent to 33,288.29, the Shanghai Composite gave up 0.4 percent to 2,954.35, and the Hang Seng was down slightly to 16,645.98.
In New York at Wednesday's close, the Dow was down 0.8 percent to 37,430.19, the Nasdaq gave up 1.2 percent to 14,592.21 and the S&P 500 lost 0.8 percent to 4,704.81.
Among currencies, the euro changed hands at USD1.0946 against USD1.0915 recorded at Wednesday's European stock close while the pound is worth USD1.2695 from USD1.2646 last night.
Brent crude is worth USD78.92 per barrel versus USD77.97 per barrel at Wednesday's close. Gold, meanwhile, trades at USD2,048.10 an ounce from USD2,034.61 an ounce last night.
Thursday's macroeconomic calendar includes, starting at 0915 CET and ending at 1030 CET, data on the purchasing managers' index and the composite PMI for some of the major European economies and the Eurozone itself: Spain, Italy, France, Germany and the UK.
Also at 1030 CET, data on mortgages, M3 and M4 money supply and BoE consumer credit are released from the UK.
In the afternoon, Germany's Federal Statistical Office releases the country's inflation data. Overseas, at 1430 CET, from the U.S. comes data on continuing unemployment claims and at 1545 CET, the U.S. purchasing managers' index and composite index.
Finally, at 1700 CET, it is the turn of crude oil stocks data.
Among companies listed on the Milan Stock Exchange, no particular announcements are expected.
By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter
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