(Alliance News) - On Thursday, major European stock markets continue in positive territory at mid-day, except for Milan, which lacks momentum after the release of a series of macroeconomic data in the Eurozone.

Thus, the FTSE Mib in the fractional red at 34,476.17, as did the Mid-Cap at 47,929.35, the Small-Cap rose 0.2 percent to 28,635.68, while Italy Growth gained 0.1 percent to 8,130.62.

In Europe, Paris' CAC 40 advances 0.2 percent, London's FTSE 100 picks up 0.4 percent while Frankfurt's DAX 40 is in the green by 0.1 percent.

In macroeconomic news, the Eurozone economy returned to expansion territory at the end of the first quarter, ending a sequence of consecutive monthly contractions that began last June.

The index compiled by Hamburg Commercial Bank and published Thursday by S&P Global rose to 50.3 in March from 49.2 in February, to the highest value in ten months and marking a return to expansion in the Eurozone private sector economy.

In Italy, the Italian service sector economy posted its third consecutive monthly growth in March, supported by a rapid increase in orders, the fastest since August 2021.

The Hamburg Commercial Bank's index for tertiary activity in Italy rose to 54.6 in March from 52.2 in February, signaling a new increase in tertiary activity in Italy.

On the Mib, Azimut is up 1.7 percent and takes the top spot. The company announced Wednesday that, through its subsidiary Azimut Alternative Capital Partners, it has entered into binding agreements with Petershill of Goldman Sachs Asset Management to acquire Azimut's entire stake in Kennedy Lewis Investment Management for a total of USD225 million.

Azimut's initial investment in KLIM was USD60 million.

Poste Italiane rises 1.6 percent, while rounding out the podium is Campari, up 1.0 percent.

Snam -- in the green by 0.3 percent -- announced Wednesday that it had exercised its right of first refusal to increase from the current 7.3 percent to 30 percent its stake in Terminale GNL Adriatico, the company headed by Adriatic LNG, the regasification terminal operating in Italian waters off Porto Viro, in the province of Rovigo.

Among the bearers is Telecom Italia, in the red by 1.6 percent. The company announced Wednesday that the Rome Court of Appeals has closed in favor of the group a 15-year dispute concerning the restitution of the concession fee claimed for 1998, the year after the sector was liberalized, and demanded in restitution by the company.

The sum owed is equal to the original fee, just over EUR500 million, plus revaluation and accrued interest, for a total of about EUR1 billion. The judgment is immediately enforceable and TIM will immediately initiate procedures to recover the amount in question.

The Court of Justice of the European Union has intervened on the matter on several occasions, pointing out the conflict between the directive on the liberalization of the telecommunications market and the national rules that had extended for 1998 the obligation to pay the fee to sector concessionaires.

Also in the red were Saipem and Banca Popolare di Sondrio, down 1.9 percent and 1.5 percent, respectively.

On the cadet segment, Juventus Football Club -- down 2.8 percent -- reported on Wednesday that during the first session of the offer on the Euronext Milan regulated market held today, all 6.1 million unexercised option rights were sold during the option offer period, entitling the holder to subscribe for a maximum of 3.1 million new shares, corresponding to about 2.4 percent of the total number of newly issued Juventus ordinary shares resulting from the capital increase under option.

OVS relinquishes 1.4 percent after announcing Tuesday that it has signed a binding investment agreement with the aim of achieving control and thus 100 percent of Goldenpoint in several stages.

The agreement provides for an initial investment of EUR3 million, intended to underwrite a convertible bond and the acquisition of 3 percent of Goldenpoint's share capital. By July 31, 2025, OVS will have the option to increase to 51 percent.

The remaining 49% of the share capital can be acquired by OVS through the exercise of put & call options, in a time window between August 1, 2026 and July 31, 2029.

Iren--green by 0.3 percent--reported that it has signed a binding investment agreement to acquire a 50 percent stake in the share capital of a NewCo, into which the operating branches of EGEA, EGEA Commercial and EGEA Production and District Heating will be transferred.

The NewCo will be 50 percent owned by Iren through a EUR85 million capital increase, which it will underwrite and release at the closing of the transaction, and the other 50 percent by a MidCo, whose share capital will be wholly owned by EGEA.

Among the smallcaps, Zucchi -- in the green by 2.8 percent -- on Wednesday reported that it had approved its financial statements as of December 31, which closed with a net profit of EUR2.9 million from EUR3.1 million in fiscal year 2022.

"Net of the consolidation of the Descamps group, the result for the year is negative EUR1.8 million," the company specified in the note.

Somec rises 2.5 percent after reporting Thursday that its U.S. subsidiary Fabbrica, part of the Horizons division, won a new order on the U.S. East Coast worth more than USD18 million.

Seri Industrial gives up 1.2 percent after reporting that it closed 2023 with a net loss of EUR6.3 million, which compares with a net loss of EUR3.4 million in 2022.

Revenues rose to EUR200.1 million from EUR199.6 million while Ebitda increased to EUR22.9 million from EUR17.4 million.

Among SMEs, the board of EdiliziAcrobatica--up 1.7 percent--appointed Riccardo Banfo on Wednesday as a new director with some management powers and chairman of the board until the next shareholders' meeting.

Banfo, a longtime group CFO, "is well acquainted with its internal dynamics," the company specified in a statement.

CY4Gate - down 0.3 percent - announced Wednesday that it has signed a contract worth a total of more than EUR6.5 million for the execution of a series of projects in the Defense sector with ELT Group, a leading European company in Electronic Defense for more than 70 years and a major shareholder of Cy4Gate Group.

SolidWorld Group rises 0.3 percent after announcing Wednesday that its subsidiary SolidFactory has entered into a new contract with a North American player for the complete supply of an innovative line for the production of advanced technology solar panels.

With this order, SolidFactory's backlog stands at EUR4.9 million at the end of March, according to unaudited company management figures.

TraWell Co gives up 1.8 percent after announcing Tuesday that it has signed a letter of intent that includes a three-month exclusive to take over a company active in traveler services in northern Europe.

The target company-whose name was not disclosed by TraWell-has revenues of EUR3 million to EUR3.5 million, an adjusted Ebitda margin of 13 percent, and a positive cash position.

In New York, the Dow closed down 0.1 percent, the Nasdaq up 0.2 percent, and the S&P 500 gained 0.2 percent.

Among currencies, the euro changed hands at USD1.0861 from USD1.0829 in Wednesday's European stock close while the pound was worth USD1.2664 from USD1.2630 last night.

Among commodities, Brent crude is worth USD89.28 a barrel from USD89.84 last night while gold trades at USD2,312.45 from USD2,285.30 on Wednesday night.

Thursday afternoon's economic calendar includes at 1330 CET the release by the European Central Bank of the minutes of its latest monetary policy decision.

At 1430 CET, from the US, the trade balance and initial unemployment benefit claims are due.

At 1815 CET, Barkin of the FOMC will speak, followed at 2000 CET by Mester.

By Claudia Cavaliere, Alliance News reporter

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