Stock markets to open positive; Milan follows suit
Stock Market Quotes and News : Equities, Indexes, Commodities, Forex on MarketScreener European stock markets are expected to open higher Friday, as investors cautiously await updates on the debt ceiling negotiations underway in Washington. Traders are also weighing data showing that UK retail sales turned positive and exceeded expectations in April, as they await French and Italian consumer confidence data. In Europe, London's FTSE 100 is given in the green by 13.50 points, Paris' CAC 40 rises 27.00 points, and Frankfurt's DAX 40 is expected up 28.00. The banking sector led the way, with UniCredit taking the lead with 2.0% and FinecoBank up 1.9%. MFE-MediaForEurope reported Wednesday that its board of directors approved its first quarter results in which a consolidated profit of EUR10.1 million was reported from EUR2.7 million in the same period a year earlier.
Published : 2 days ago by MarketScreener in Finance
(Alliance News) - European stock markets are expected to open higher Friday -- according to IG platform futures -- as investors cautiously await updates on the debt ceiling negotiations underway in Washington.
Trading rooms also weigh data showing that UK retail sales turned positive and exceeded expectations in April, as they await French and Italian consumer confidence data.
On the monetary policy front, in the CME Group platform's FedWatch Tool, using futures also based on the actual federal funds rate or EFFR, confirmation of the rate at the June 14 meeting has a probability dropping to 58 percent for confirmation in the 500/525 bps range.
In contrast, the 25 bps hike in the 525/550 bps target is priced at 42%.
Thus, the FTSE Mib, marks a rise of 150.00 points, after closing down 0.4 percent at 26,408.00 last night.
In Europe, London's FTSE 100 is given in the green by 13.50 points, Paris' CAC 40 rises 27.00 points, and Frankfurt's DAX 40 is expected up 28.00 points.
On Thursday, the Mid-Cap closed up 0.2 percent to 41,884.57, the Small-Cap up 0.2 percent to 27,557.02, while Italy Growth gave up 0.1 percent to 9,120.89.
On the main index in Piazza Affari last night, Tenaris gave up 3.7 percent and Saipem 2.9 percent. Also below were ERG and Eni, down 2.6 percent and 2.4 percent, respectively.
The banking sector led the way, with UniCredit taking the lead with 2.0% and FinecoBank up 1.9%.
Generali after the accounts rose 0.5%. The board of directors approved financial information as of March 31, 2023, showing gross premiums up 1.3% to EUR22.16 billion from EUR21.53 billion in the same period a year earlier, "thanks to robust growth in the Non-Life segment," according to the company note.
Operating income grew to EUR1.82 billion, up 22 percent from EUR1.49 billion, mainly due to the contribution of the non-life segment.
On the cadet segment, MFE-MediaForEurope--with A shares up 3.3 percent and B shares in the green by 0.5 percent--reported Wednesday that its board of directors approved its first quarter results in which a consolidated profit of EUR10.1 million was reported from EUR2.7 million in the same period a year earlier.
Ebit is EUR19.3 million positive from EUR15.3 million in the first quarter of 2022.
Consolidated net revenues are EUR646.6 million from EUR654.3 million as of March 31, 2022.
Credito Emiliano closed at a breakeven after launching its second EUR400 million green bond issue for institutional and professional investors on Monday. The issue, in Senior Non Preferred format, represents the third ESG instrument launched in the market by the group since early 2022.
Brunello Cucinelli rose 0.6 percent after announcing Tuesday that it had reached an agreement with Chanel and the Cariaggi family to sell an 18.5 percent stake in Cariaggi Lanificio Spa to Chanel.
Cucinelli held 43 percent of Cariaggi Lanificio, and with the sale made today his stake becomes 24.5 percent. Under the same agreement, the Cariaggi family in turn sold a 6 percent stake in Cariaggi Lanificio to Chanel.
As a result of the sale transactions, the company's share capital is owned 51 percent by the Cariaggi family and 24.5 percent each by Brunello Cucinelli and Chanel.
On the Small-Cap, Mondo TV--green by 0.5 percent--reported Thursday that it had signed a new license with Sia All Media Latvia, a leading broadcaster operating in the Baltics, for the television broadcast of Agent 203 and Monster Loving Maniacs.
The series were co-produced by Mondo Tv with Toon2Tango, and the license includes the possibility of broadcasting the series for a period of three years.
Risanamento closed the listing down 17 percent, while Trevi Finanziaria did best of all with a 7.3 percent gain.
Among SMEs, GO internet gained 1.3 percent, in its third session on the bullish side.
Alfonsino, on the other hand, posted a 7.3 percent gain. The company reported Monday that first quarter revenues rose 9 percent year-on-year to EUR1.2 million from EUR1.1 million in the same period a year earlier.
DHH closed on a par after reporting Thursday that first quarter revenues rose 42 percent year-on-year to EUR8.4 million from EUR5.9 million in the same period a year earlier.
As the company explained, organic growth was 13 percent, driven mainly by an increase in the IaaS business, the group's main revenue segment, which grew organically by 23 percent in the period. Recurring revenues accounted for about 95% of total revenues. The Balkan countries were the best performers on the organic growth front, with increases of 15 percent in Slovenia, 13 percent in Croatia, 16 percent in Serbia, and 18 percent in Bulgaria.
In New York on European night, the Dow closed in the red by 0.1 percent, the Nasdaq rose 1.7 percent, and the S&P 500 closed in the green by 0.9 percent.
Among currencies, the euro changed hands at USD1.0735 against USD1.0726 on Thursday in closing European equities. In contrast, the pound is worth USD1.2346 from USD1.2336 last night.
Among commodities, Brent crude is worth USD76.13 per barrel versus USD76.64 per barrel last night. Gold, on the other hand, trades at USD1,950.05 an ounce from USD1,945.60 an ounce last night.
In Asia, with Hong Kong closed for holidays, the Nikkei has rallied 0.7 percent, while the Shanghai Composite is picking up 0.4 percent.
On Friday's macroeconomic calendar, the Italian consumer and business confidence level is released at 1000 CEST.
From overseas, at 1430 CEST, will come the durable goods order, consumer spending price index, PCE price index and personal consumption.
Among the companies listed on the Stock Exchange, the results of Imvest, Promotica and TrenDevice are expected.
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