Stellantis NV: Europeans down; the auto sector suffers

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

“The unfavorable 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 develop into even tighter. thinner as worth will increase minimize additional,” feedback Michael Hewson, Chief Market Analyst at CMC Markets.

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

The FTSE Mib closed within the crimson 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 crimson 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 crimson.

In the meantime, shopper confidence within the Eurozone improved in April, though it remained in unfavorable 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, nevertheless, shopper confidence improved to minus 18.9 factors from minus 20.6 factors the earlier month.

On the principle listing of Piazza Affari, due to this fact, the downward thrust of the auto sector at a world degree brings Stellantis to the underside, the place it closes within the crimson 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 giant 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 saying the sale of its Russian operations for whole proceeds of roughly $60 million.

Saipem, then again, managed to shut the day up — plus 1.5 p.c — because of 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 crimson, with Eni dropping 1.2 p.c and Tenaris dropping 0.2 p.c.

Iveco Group did nicely, ending within the lead with 1.6 p.c. On the inventory, AKO Capital elevated its quick place to 0.99% from 0.83%, whereas Citadel Advisors diminished its quick 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 supply 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 an expansion of over 240 foundation factors.

On the mid-cap, Brembo closed within the crimson 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 price range.

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

OVS – within the crimson 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.

Purple additionally for Maire Tecnimont, which closed down by 3.2%. The corporate stated on Wednesday that corporations which can be a part of the Sustainable Know-how Options enterprise unit, immediately managed by Nextchem Holding, had gained a number of new expertise licensing and engineering providers contracts price 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 crimson 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 Societ Europea di Edizioni Spa, writer of the newspaper Il Newspaper.

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

The sale ends in a internet capital achieve within the earnings 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, Farma – within the inexperienced by 2.3% – reported Thursday that its revenues rose 46% within the first quarter year-on-year to €38.8m from €26.5m in the identical interval within 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 way of the “Monitor IT Blockchain Mission” of ICE – Authorities Company for the Internationalization and Promotion of Italian Firms.

Casta Diva Group closes with a +7.8% after saying 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 crimson 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 crimson by 3.8 p.c – examined and authorised 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 price $1.2455 from $1.2439 on Wednesday night.

Amongst commodities, Brent crude was price $81.22 a barrel Wednesday night time to $84.49 a barrel. Gold, then again, 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 Client Confidence Index will probably be launched at 01:01 CEST, Japan’s Client 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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