Mib advances; Mediobanca touches new annual high

Published: 2025-03-19 07:20:18 ET MB.MI

(Alliance News) - Markets in Europe moved without a single direction Wednesday, with Milan nonetheless on the bullish side. Investors weighed in on Germany's historic vote on constitutional change, developments regarding a possible end to the war in Ukraine, concerns over ongoing tariffs, as well as updates on monetary policy.

In Germany, as mentioned, the Bundestag approved the planned amendment to the debt brake, which will allow increased fiscal spending on infrastructure and defense.

Russian President Vladimir Putin has agreed to a limited cessation of war operations, halting attacks on Ukraine's energy infrastructure, but has so far resisted committing to a 30-day total cessation of hostilities.

Regarding monetary policy, the Fed is expected to keep interest rates stable while providing new economic forecasts, which could take into account the potential impact of President Donald Trump's trade policies.

Thus, the FTSE Mib moves up 0.3 percent to 39,634.33 points.

Among the smaller listings, the Mid-Cap advances 0.1 percent to 51,381.77, the Small-Cap is in the red 1.4 percent to 29,312.49 while Italy Growth advances 0.2 percent to 7,810.30.

London's FTSE 100 is in the red 0.2 percent, Paris' CAC 40 advances 0.4 percent, while Frankfurt's DAX 40 gives up 0.4 percent.

Back in Milan, strength on Banca Monte dei Paschi, which moves up 3.0% to EUR7.86 per share, updating its yearly high.

Mediobanca, meanwhile, advances 1.9% to EUR18.23, while during trading it updated its yearly high at EUR18.33.

Leonardo - in the green by 1.5 percent - is launching a new business line in the supercomputer sector with Lhyc, Leonardo Hypercomputing Continuum, an initiative that is part of its organic growth plans and updated 2025-2029 strategic guidelines. The goal of the group led by Roberto Cingolani is to double its computing power by 2026, making it accessible to more than 2,000 registered users and employing at least 200 researchers.

Enel trades in the green by 0.5 percent at EUR7.11, exceeding Deutsche Bank's target price. The German bank raised its target price to EUR7.00 from EUR6.80 per share.

STMicroelectronics--declining 0.3 percent--reported that it bought back 281,500 of its own ordinary shares between March 10 and March 14 The shares were purchased at an average price per share of EUR22.5101, for a total consideration of EUR6.3 million.

Campari is giving up 0.9 percent to EUR5.91, after two bullish sessions.

On the Mid-Cap, strength on Fincantieri, which is up 1.3% to EUR11.31 per share, after hitting a new annual high at EUR11.67 per share during trading.

Brembo -- in the green by 1.8 percent -- reported Tuesday that its board of directors approved the financial statements as of December 31, 2024 with a profit at EUR262.6 million, down 14 percent from EUR305.0 million a year earlier. The board of directors proposed a dividend of EUR0.30 per share, in line with that of 2023.

El.En. - up 1.1 percent - continues with its buyback program. Of note, it announced Monday that it bought back 15,000 of its own ordinary shares between March 10 and March 14. The shares were purchased at an average unit price of EUR9.9832, for a total consideration of EUR149,747.68.

De Longhi, on the other hand, gives up 1.6 percent to EUR31.34 per share, after two bullish sessions.

Salvatore Ferragamo, on the other hand, ranks at the tail end of the list with minus 3.1 percent after Tuesday evening's 4.9 percent gain.

On the Small-Cap, purchases on Aquafil, which goes up 9.2% after 8.3% red on the eve and with price in the EUR1.25 per share area.

Bialetti, on the other hand, advances 3.4%, in its third bullish session.

Olidata, on the other hand, advances 7.7% to EUR2.38 per share, following up on eve's double-digit jump of more than 12%.

Gabetti Property Solutions -- in the green by 1.5 percent -- reported Tuesday that its 2024 fiscal year closed with a net profit of EUR1.1 million, up slightly from EUR1.0 million recorded in the previous year. According to a company note, the performance was affected by the negative impact of regulatory changes on tax incentives, which had an impact of EUR4.3 million. Excluding this effect, the net result would have been EUR5.4 million The board decided to allocate the profit for the 2024 financial year to reserves, without the distribution of dividends.

Industrie De Nora -- in the red by more than 21 percent -- reported Wednesday that the 2024 fiscal year ended with an adjusted net profit of EUR88.8 million, down 12 percent from EUR101.5 million in 2023. Net income-including nonrecurring income and expenses-was EUR83.3 million, down from EUR231.1 million in the previous year, which had benefited from extraordinary income related to the listing of the thyssenkrupp nucera joint venture.

Among SMEs, Impianti, on the other hand, advances more than 18 percent, touching its new 52-week high at EUR1.87 per share.

Cofle advances 3.5 percent to EUR3.52 per share, rebounding after seven bearish sessions.

Frendy Energy, meanwhile, advances 3.4 percent to EUR0.24 per share, after two bearish sessions.

Edil San Felice gives up 7.8% to EUR4.85 per share, subject to profit taking after a string of five sessions with bullish candle.

In New York last night, the Dow gave up 0.6 percent, the Nasdaq lost 1.7 percent, and the S&P 500 closed down 1.1 percent.

In Asia, the Hang Seng gained 0.1 percent, the Shanghai Composite fell 0.1 percent, and the Nikkei picked up 0.3 percent.

Among currencies, the euro changed hands at USD1.0906 versus USD1.0935 at Tuesday's European equities close. In contrast, the pound is worth USD1.2970 from USD1.2995 last night.

Among commodities, Brent crude is worth USD70.00 per barrel from USD70.53 per barrel at yesterday's European stock close. Gold trades at USD3,026.38 an ounce from USD3,043.74 an ounce last night.

Wednesday's macroeconomic calendar includes from the US, at 1430 CET, the crude oil stocks data.

Attention will focus in the evening on the FOMC decision, scheduled for 1900 CET, followed half an hour later by the press conference.

In the afternoon, European are expected to hear speeches from some members of the European Central Bank board.

By Maurizio Carta, Alliance News reporter

Comments and questions to [email protected]

Go to the original article. Legal disclaimer Legal disclaimerContact us to request a correctionBack