(Alliance News) – European stock exchanges are mixed, in mid-day Tuesday, after the release of Italy and Eurozone inflation data, and after the PMI release denoting, for the first time since early 2023, a contraction in our country’s manufacturing activity.

Thus, the FTSE Mib is up 0.3 percent at 27,150.52.

The Mid-Cap is up 0.1 percent to 43,473.69, the Small-Cap gives up 0.1 percent to 29,070.16, and Italy Growth rises 0.2.% to 9,272.10.

In Europe, Paris’ CAC 40 is in the red by 0.5 percent, London’s FTSE 100 is in fractional green while Frankfurt’s DAX 40 is in the red by 0.3 percent.

Thus, inflation in our country, accelerated more than expected in April, driven by non-regulated energy goods, according to Istat’s preliminary estimate released Tuesday.

Italy’s consumer prices grew 8.3 percent year-on-year in April after rising 7.6 percent in March while the market was expecting inflation of 8.2 percent for April.

In the euro area, annual inflation increased in April, according to Eurostat’s flash estimate released Tuesday.

According to the preliminary estimate, annual inflation was 7.0 percent in April, accelerating from 6.9 percent in March.

Food, alcohol and tobacco are expected to have the highest annual rate, however, slowing to 13.6 percent from 15.5 percent in March.

On the mostly bullish main list of Piazza Affari, Campari jumps 2.4 percent after reporting Tuesday that it closed the first quarter with strong year-on-year numbers, thanks to net sales that rose to EUR667.9 million from EUR534.8 million in the same quarter a year earlier.

Bankers did well with BPER Banca rising 1.9 percent, UniCredit and Banca Monte dei Paschi di Siena in the green by 2.2 percent. Intesa Sanpaolo is up 0.6 percent.

Oil stocks are hurting, with Saipem giving up 0.9%, while Eni loses 0.7% and Tenaris is in the red by 0.5%.

Eni’s board of directors announced Friday that it had approved consolidated results for the first quarter, having reported an adjusted pre-tax profit of EUR4.98 billion, down 5.0% from the same period last year when it was EUR5.23 billion.

Worst of all is Iveco Group, down 1.9 percent while at the top now is STMicroelectronics, up 2.7 percent.

On the Mid-Cap, Tamburi Investment Partners — up 0.6 percent — announced Monday that it has reached an agreement to acquire 51 percent of Investindesign Spa, a company that currently holds a majority stake in Italian Design Brands Spa.

TIP, for the purchase of 50.7 percent of Investindesign’s capital will invest EUR72 million, giving IDB an economic capital value of EUR220 million.

At the bottom, however, are MFE’s B shares, down 3.1 percent while Saras, which gives up 1.7 percent.

On the Small-Cap, Netweek rises 13% and does best of all.

PLC is in the green by 0.7%. On Friday the board of directors approved the operating budget to Dec. 31, 2022 reporting revenues down to EUR60.6 million from EUR67.6 million in 2021.

It reported a loss of more than EUR15.8 million in 2022 from a profit of nearly EUR3.0 million in 2021.

d’Amico International Shipping – in the red by 0.3 percent – disclosed Tuesday that its operating subsidiary d’Amico Tankers DAC has exercised its option to purchase under the bareboat charter agreement relating to the MT High Trust, a 49,990-ton ‘MR’ built in January 2016 by Hyundai-Mipo, South Korea, at their Vinashin shipyard in Vietnam, for about USD22.2 million.

Seri Industrial rises 1.7 percent after reporting revenues of EUR45.0 million in the first three months of the year from EUR44.0 million in the same period a year earlier.

Elica’s board of directors — in the red by 1.4 percent — approved results for the first quarter of 2023, which closed with a net profit of EUR3.4 million compared to EUR4.7 million in the first quarter of 2022. The normalized result was EUR3.9 million. In Q1 2023, Elica posted revenues of EUR129.0 million, “in a market characterized by shrinking demand and impacted by destocking measures implemented by OEM customers,” the company note said. Last year in the first quarter it was EUR144 million.

Finally, among SMEs, Officina Stellare gave up 0.9 percent. The board of directors approved Friday the consolidated financial statements as of December 31, 2022 reporting a net profit of EUR610,000 down 55 percent from EUR1.3 million recorded in the full year 2021.

Value of production is EUR13.0 million up 37 percent from EUR9.5 million in 2021.

Fenix Entertainment tops with 16 percent after announcing Friday that the value of production for the first quarter of 2023 is EUR7.5 million from EUR4.6 million in the first quarter of 2022.

Franchi Umberto Marmi — up 1.6 percent — on Thursday reported that total revenues as of March 31 amounted to EUR22.7 million, up 7 percent from EUR21.1 million recorded in the same period last year, with a significant contribution from sales in Turkey, South Korea and India. Sales in the Italian market, as of March 31, 2023, increased by 4%, compared to the first three months of 2022, reaching EUR12.3 million or 54% of total revenues, confirming the good health of the domestic market.

OSAI Automation System rises 3.5 percent. The company announced Friday that it has signed a preliminary contract with owner Immobiliare Besa Srl to purchase the Parella operating headquarters, totaling EUR5.4 million approximately and with closing expected by October 31.

MeglioThis still does not trade. The company reported that the board has resolved to initiate a EUR7.0 million capital increase reserved for Pierluigi Ghiani and Francesco Simula. The transaction will be developed through the issuance of 4.0 million ordinary shares at a subscription price of EUR1.75 each. Of the amount of the capital increase, EUR400,000 will go to increase the company’s share capital while EUR6.6 million will be allocated to share premium reserve.

In New York, the Dow Jones closed 0.1 percent in the red at 34,051.70, the Nasdaq finished 0.1 percent in the red at 12,212.60, and the S&P 500 finished the day fractionally in the red at 4,167.87.

Among currencies, the euro changed hands at USD1.0959 versus USD1.0942 at Friday’s close. In contrast, the pound is worth USD1.2468 from USD1.2577 on Friday evening.

Among commodities, Brent crude is worth USD79.10 per barrel versus USD80.30 per barrel on Friday night. Gold, on the other hand, trades at USD1,982.62 an ounce from USD1,991.95 an ounce at Friday’s close.

On Tuesday’s macroeconomic calendar, in the afternoon, from the US, orders from factories and at 1600 CEST the JOLTs report. At 2230 CEST, it will be the turn of weekly oil stocks.

By Chiara Bruschi, Alliance News reporter

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