(Alliance News) - Piazza Affari rebounded at mid-day Wednesday on the heels of rises in other European bourses, with investors not giving particularly much thought to Eurozone Gross Domestic Product.
The eurozone economy was flat in the fourth quarter on a sequential basis after falling 0.1 percent in the third quarter.
On an annual basis, GDP increased 0.1 percent after remaining flat in the previous quarter.
In the EU-27, the economy grew 0.1 percent quarter-on-quarter after falling 0.1 percent in the previous quarter and rose 0.3 percent year-on-year after remaining flat three months earlier.
The FTSE Mib is up 0.5 percent to 31,290.34, Mid-Cap is up 0.3 percent to 45,226.72, Small-Cap is up 0.3 percent to 27,525.53, and Italy Growth is down slightly to 8,088.16.
In Europe, London's FTSE 100 is up 0.8 percent to 7,573.44, Paris' CAC 40 rises 0.3 percent to 7,650.24 and Frankfurt's DAX 40 gains 0.1 percent to 16,892.13.
On the Mib, Leonardo continues to climb and lead the gainers in Piazza Affari, with a 4.1 percent gain that takes the shares just below EUR18.
It does better than Nexi, up 4.3 percent, while Banca Mediolanum follows not far behind, thanks to a 1.5 percent increase.
On the other side of Milan's highest-capitalization basket, Campari gives up 0.8 percent and is at the bottom along with Pirelli, down 1.1 percent.
On the Mid-Cap, Industrie De Nora is up 0.9 percent shortly after reporting that it ended 2023 with revenues of EUR856 million compared to EUR853 million in the previous year.
This development mainly reflects the growth reported by the Energy Transition business segment of 140% year-on-year, more than tripling the GW of technologies realized, the growth of the Water Technologies Systems product line of 17%, and the substantial stability of the Electrode Technologies Business segment -- up 2% at constant exchange rates --, which more than offset the normalization of the Pools line.
Net income rose to EUR230 million from EUR90 million, and the development mainly reflects a total nonrecurring income of EUR133 million, related to the listing of the associated company thyssenkrupp nucera on the Frankfurt Stock Exchange and in particular due to the reduction of De Nora's percentage shareholding in thyssenkrupp nucera and the gain from the exercise of the greenshoe option.
MFE shares did well, with A shares up 3.1 percent and B shares up 2.4 percent, both leading the list.
Down, on the other hand, were Mondadori, down 1.1 percent, and banks, with BFF down 0.7 percent, leading the bearish sector.
Among small-cap companies, algoWatt rises 3.5 percent and leads the basket after reporting that the board has approved Domenico De Marinis to join the board as an independent.
De Marinis will replace the resigning Massimo Solbiati and will also be a member of the Related Party Transactions committee.
EPH collapses with a 25 percent drop while the most heavily traded is Risanamento, with 2.9 million pieces changed hands in a few minutes and a 1.9 percent rise.
On the SME list, 4AIM Sicaf and H-Farm are flying, up 10 percent and 6.3 percent, respectively, while Illa collapses, 16 percent in the red.
Among Asian exchanges, the Nikkei gave up 0.7 percent, the Hang Seng rose 0.8 percent while the Chinese stock exchange remained closed for holidays.
In New York, the Dow gave up 1.4 percent, the Nasdaq 1.8 percent while the S&P 500 closed down 1.4 percent.
Among currencies, the euro changed hands at USD1.0699 against USD1.0716 recorded in Tuesday's European stock close while the pound was worth USD1.2543 from USD1.2601 on Tuesday evening.
Brent crude is worth USD82.85 per barrel versus USD82.77 per barrel at Tuesday's close. Gold, meanwhile, trades at USD1,991.41 an ounce from USD1,994.39 an ounce last night.
Wednesday's calendar includes, at 1300 CET from the US, the mortgage market report while, at 1630 CET, the crude oil stocks figure and the EIA report will be released.
By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter
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