Europeans down; auto sector suffers | Market Screener

(Alliance Information) – The primary European inventory exchanges closed Thursday within the purple, with Piazza Affari trailing – and apart from London, which is simply above parity – with markets affected by the bearish pattern in automotive shares and a brand new decline of the worth of oil, fueled by the specter of a recession in america which might trigger a drop in demand.

“The destructive response to final night time’s Tesla numbers, coupled with a dedication to chop costs additional, weighed on the European auto sector, with losses for BMW, Renault, Stellantis and Volkswagen amid issues that already tight margins will grow to be even tighter. thinner as value will increase lower additional,” feedback Michael Hewson, Chief Market Analyst at CMC Markets.

“Moreover, the truth that demand for electrical vehicles is declining does not assist, because the financial causes for proudly owning one have diminished together with falling petrol costs. With oil costs about to put up their largest weekly decline in a month, shares like BP and Shell are additionally staying decrease”.

The FTSE Mib closed within the purple by 1.1% at 27,627.12.

The Mid Cap closed down by 0.8% at 43,638.36, the Small Cap by 1.2% at 29,626.42 and Crescita Italia closed within the purple by 0.6% at 9,218.80.

In Europe, London’s FTSE 100 completed in fractional inexperienced, Paris’ CAC 40 misplaced 0.1% whereas Frankfurt’s DAX 40 completed 0.6% within the purple.

In the meantime, shopper confidence within the Eurozone improved in April, though it remained in destructive territory, the European Fee’s flash estimate launched on Thursday revealed.

The euro zone shopper confidence index rose to minus 17.5 factors in April from minus 19.1 factors in March.

Within the EU27 Member States, nonetheless, shopper confidence improved to minus 18.9 factors from minus 20.6 factors the earlier month.

On the primary listing of Piazza Affari, subsequently, the downward thrust of the auto sector at a global degree brings Stellantis to the underside, the place it closes within the purple by 5.4 p.c. The sudden farewell of the CFO, Richard Palmer, a determine identified to buyers for years, changed by Natalie Knight, who comes from massive retailers, additionally weighed closely.

Ferrari, which misplaced 1.1 p.c, and Pirelli, which misplaced 2.4 p.c, have been additionally unhealthy.

CNH Industrial dropped 0.2% after asserting the sale of its Russian operations for whole proceeds of roughly $60 million.

Saipem, however, managed to shut the day up — plus 1.5 p.c — due to first quarter revenues of two.58 billion euros from 1.82 billion euros within the corresponding interval of 2022. Internet revenue broke even, in opposition to a lack of 98 million euros within the corresponding interval of 2022.

The others within the oil sector have been within the purple, with Eni dropping 1.2 p.c and Tenaris dropping 0.2 p.c.

Iveco Group did properly, ending within the lead with 1.6 p.c. On the inventory, AKO Capital elevated its brief place to 0.99% from 0.83%, whereas Citadel Advisors lowered its brief place to 0.48% from 0.57%.

Assicurazioni Generali – within the inexperienced by 0.1% – reported on Thursday that it had repurchased the beforehand accepted quantity of its 1.50 billion-euro perpetual bond buyback provide at a 4.596% coupon, or 499.6 million of Euro.

Generali additionally issued a €500.0 million fixed-rate bond with a coupon of 5.399% maturing on April 20, 2033, listed in Luxembourg and with a ramification of over 240 foundation factors.

On the mid-cap, Brembo closed within the purple by 2.3%. Thursday the shareholders’ assembly renewed the board of administrators and the board of statutory auditors. Each will stay in workplace till the approval of the 2025 finances.

As for the board of administrators, Matteo Tiraboschi was appointed chairman and Daniele Schillaci was confirmed as managing director.

OVS – within the purple by 2.8% – reported on Wednesday that it closed the yr ended 31 January 2023 with a internet turnover of 1.51 billion euros, a rise of greater than 11% in comparison with the 1.36 billion euros recorded the earlier yr. Moreover, the board of administrators resolved to suggest to the shareholders’ assembly the cost of a dividend for the 2022 monetary yr equal to 0.06 euros per share.

Adjusted internet revenue was €78.4 million, up greater than 75% on the €44.8 million recorded in 2021.

Crimson additionally for Maire Tecnimont, which closed down by 3.2%. The corporate stated on Wednesday that corporations which might be a part of the Sustainable Expertise Options enterprise unit, immediately managed by Nextchem Holding, had gained a number of new expertise licensing and engineering companies contracts value a complete of about $90 million.

Brunello Cucinelli’s board, up 0.3 p.c, introduced on Tuesday that it revised revenues for the primary quarter of 2023, after posting 35 p.c development throughout geographies and throughout each channels. gross sales, retail and wholesale.

Intimately, internet revenues amounted to 265.3 million euros in comparison with 196.9 million euros in the identical interval final yr.

Arnoldo Mondadori Editore – which closed within the purple by 0.9 p.c – introduced Thursday that it had entered right into a contract for the sale to PBF Srl of its 18.45 p.c stake in Società Europea di Edizioni Spa, writer of the newspaper Il Newspaper.

The consideration for the transaction, to be settled totally in money, is ready at 2.3 million euro.

The sale ends in a internet capital achieve within the revenue assertion of the Mondadori Group of €500,000.

Amongst Small-Caps, Bioera takes the highest spot with an 11% enhance.

Piquadro – in inexperienced by 1.7% – reported on Wednesday that, within the 2022-2023 fiscal yr, revenues elevated by 18% to 175.6 million euros from 149.4 million euros whereas, solely within the fourth quarter, improved by 22% to 48.8 million euros from 40.0 million euros.

Amongst SMEs, Farmaè – within the inexperienced by 2.3% – reported Thursday that its revenues rose 46% within the first quarter yr on yr to 38.8 million euros from 26.5 million euros in the identical interval of the yr. ‘final yr.

Monnalisa closes up by 3.7%. The corporate has introduced that it is able to undertake Blockchain expertise with a pilot exercise on the Couture line, by means of the “Observe IT Blockchain Undertaking” of ICE – Authorities Company for the Internationalization and Promotion of Italian Corporations.

Casta Diva Group closes with a +7.8% after asserting on Thursday a quarterly consolidated manufacturing worth as of March 31 which marks a 73% enhance over the identical determine of the earlier yr to 21.2 million euros from 12.2 million euros.

The order backlog – orders to be processed inside the yr – consolidated as at 31 March, stands at round 41.6 million euro.

Gismondi 1754 closes within the purple by 5.7 p.c. It revealed on Wednesday night that whole gross sales income within the first quarter was almost €4.2 million, up 18% from €3.5 million within the first quarter of 2022.

Estrima’s board of administrators – within the purple by 3.8 p.c – examined and accepted the corporate’s draft monetary statements and the group’s consolidated monetary statements as at 31 December 2022, which closed with a internet lack of 3.1 euros million from a internet lack of €1.4 million in 2021.

In New York, on the peak of buying and selling, the Dow was down 0.2 p.c, the Nasdaq was down 0.4 p.c and the S&P 500 was down 0.5 p.c.

Amongst currencies, the Euro was buying and selling at $1.0972 versus $1.0953 by Wednesday’s shut. Conversely, the pound was value $1.2455 from $1.2439 on Wednesday night.

Amongst commodities, Brent crude was value $81.22 a barrel Wednesday night time to $84.49 a barrel. Gold, however, is buying and selling at $2,002.73 an oz. from $1,988.41 an oz. as of Wednesday’s shut.

On Friday’s financial calendar, the GfK Shopper Confidence Index will probably be launched at 01:01 CEST, Japan’s Shopper Value Index will probably be launched at 01:30 CEST and the Companies PMI at 02:30 CEST .

UK Retail Gross sales will probably be launched at 0800 CEST and Manufacturing, Companies and Composite PMI at 0915 CEST in France.

PMI additionally out for Germany at 09:30 CEST, Eurozone at 10:00 CEST and UK at 10:30 CEST.

At 2:30pm CEST, the Canadian Retail Gross sales will expire, and at 3:45pm CEST, the US PMI.

The quarterly outcomes of BB Biotech, Clabo, Sogefi and TrenDevice are scheduled in Piazza Affari.

By Chiara Bruschi, journalist of Alliance Information

Feedback and inquiries to

Copyright 2023 Alliance Information IS Italian Service Ltd. All rights reserved.

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