(Alliance News) – European stock markets opened in the red, Mibu gravitated towards the 34,300 region, and the Piazza Affari calendar was almost completely dominated by a number of upcoming semi-annual reports. Significantly damaging Milan’s blue-chip list was the revised guidance by Stellantis, which caused a massive decline and pushed equity-to-equity debt at Monembuto to more than double digits.
In Asian markets last night, Chinese stocks rose strongly in response to China’s latest economic stimulus measures, while selling dominated the Nikkei average.
The FTSE Mib is therefore down 1.1% to 34,346.93 points.
In Europe, the FTSE 100 in London is perfectly equivalent, the CAC 40 in Paris is down 0.6% and the DAX 40 is down 0.3%.
In contrast, midcaps fell 0.7% to 47,116.30, smallcaps lost 0.5% to 28,573.53, while Italia Growth Inc. rose 0.3% to 8,096.96.
At Mibu, there was a noticeable sell-off in Stellantis, which is down more than 10%. The company announced on Monday that it had revised its 2024 earnings outlook to reflect its decision to significantly expand its stock price in the face of North American performance issues and worsening global industry trends.
The combined company of PSA Group and Fiat Chrysler Automobiles expects adjusted operating margin to be 5.5% to 7.0% at the end of the year, a downward revision from its previous “double-digit” forecast.
Industrial free cash flow is expected to be in the range of -5 billion to -10 billion euros, down from the previous ‘positive’ figure. This primarily reflects the expected decrease in adjusted operating profit and the impact of a one-off increase in working capital in the second half of 2024. .
Iveco, on the other hand, is giving up 1.9% after two trades closed on bullish candlesticks.
Nexi, on the other hand, has given up 1.5% after two sessions ended on a bullish note, with the new price ending in the area of 6.15 euros per share.
Moncler fared well, as did the entire luxury sector, rising 1.7% in its third bullish session. Lvmh announced a few days ago that it has joined the holding company Double R, Moncler’s first shareholder, along with Remo Ruffini. The French group has bought a 10% stake in Moncler, with a direct stake of around 15.8%, which it aims to increase to up to 18.5% through a Moncler share purchase program that will last around 18 months.
In midcaps, Laiway rose 1.5% in the sixth bullish session.
It was also a good day for Asco Piave, which rose 1.4% to close at €2.91, a new 52-week high.
On the downside, Brembo, which makes up the majority on this list, gave up 2.6% gains after two bullish sessions.
On Friday, the Juventus Football Club’s board of directors approved the consolidated financial statements for the year to June 30, with a surplus of 1.0%, but ended up with a loss of 199.2 million euros, with a surplus of 1.0% and a forecast for 2022. Worse than the 2023 debt. 123.7 million euros. The loss was “significantly affected by the non-participation of the men’s first team in UEFA competitions and certain one-off costs,” the company notes. As a result, revenue fell to 294.6 million euros from 507.7 million euros in the previous year.
Among small-cap stocks, Giglio Group gained 8.2%. The company reported ending the first half of the year with a loss of 1.2 million euros, compared with a loss of 30,000 euros in the same period last year. Revenue as of June 30 was 9.9 million euros, down significantly from 15.7 million euros in the same period last year.
Meanwhile, EEMS rose 7.5% after two bearish candlestick closes.
CSP International reported on Friday it fell 2.4%, ending the first half with a loss of 3 million euros, down from a loss of 1.9 million euros as of June 30, 2023. Consolidated net income for the period amounted to 37 euros. From 39.5 million euros to 700,000 euros in the first half of 2023.
Meanwhile, Soft Love rose 2.9%, following 1.9% in the previous session.
Among smaller companies, Pharmacosmo performed well, posting an increase of 5.5% to 0.69 euros per share, after a 3.9% decline in the previous session.
Casta Diva Group (0.8% profit) reported on Monday that production for the first half of this year ended at 58.2 million euros (previous year: 50.5 million euros). Adjusted EBITDA increased from 4.1 million euros to 5.1 million euros, and adjusted operating profit improved from 2.8 million euros to 3.9 million euros.
UCapital24 (flat at 0.23 euros) reported that its net loss for the first half of this year was halved to 442,000 euros from 950,000 euros in the same period last year. Production value increased from 600,000 euros to 800,000 euros, and although EBITDA was negative, it improved to 72,000 euros from a total operating loss of 321,000 euros in the same period last year. Operating loss also improved from €947,000 to €442,000.
In the New York market on Friday night, the Dow rose 0.3%, the Nasdaq fell 0.4%, and the S&P 500 fell 1.0%.
Among Asian exchanges, the Hang Seng rose 3.1%, the Shanghai Composite rose 8.1% and the Nikkei 225 held steady at 4.8% on Parterre.
Among currencies, European stocks closed Friday with the euro at $1.1159 versus $1.1166, and the pound at $1.3383, up from $1.3400 on Friday night.
Among commodities, Brent crude oil is trading at $72.20 per barrel, compared to yesterday’s European stock closing price of $71.49 per barrel. Meanwhile, gold is trading at $2,657.55 an ounce, up from $2,654.35 on Friday night.
Monday’s economic calendar includes Italy’s trade balance at 1000 CEST and September’s inflation rate at 1100 CEST.
In contrast, Germany’s CPI is expected to be 1400CEST.
Several semi-annual reports from listed companies will be presented at Piazza Affari.
Maurizio Carta, Alliance News Reporter
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