Futures markets expected to be in positive territory

Major European stock markets on Tuesday are expected to be in positive territory on the morning when inflation in Spain, wholesale prices in Germany and other macroeconomic data are expected in Eurozone markets.

So, IG futures put the FTSE Mib in the green by 0.2 percent or up 62.5 points after closing up 1.0 percent at 28,525.10.

The CAC 40 in Paris is expected to be up 14.7 points or 0.2 percent, the DAX 40 in Frankfurt is in the green by 0.2 percent or up 23.0 points, the FTSE 100 London is expected to be up 15.0 points or up 0.2 percent.

Among other quotes in Milan on Monday, Mid-Cap closed up 0.2 percent at 41,378.97, as did Small-Cap at 26,775.58 and Italy Growth up 0.3 percent at 8,778.67.

In macroeconomic news, the UK unemployment rate rose to 4.3% in May-July, the highest level since the third quarter of 2021, indicating that the labor market may be cooling after months of unprecedented tightening of monetary policy by the Bank of England.

Returning to Milan, on the main index in Piazza Affari on Monday, Banca Monte dei Paschi di Siena rose 3.4% and led the banking sector, with Intesa Sanpaolo gaining 2.3% and BPER Banca up 2 .4%.

Intesa Sanpaolo announced on Friday the final results of its cash tender offer to repurchase all or part of its 750 million euros of Additional Tier 1 bonds.

At the end of the offer, the total nominal amount of the existing securities validly offered for repurchase amounted to approximately 503.1 million euros, or approximately 67% of the total nominal amount of the existing securities in circulation, which amounted to 750.0 million euros.

Banca Generali – up 0.3% – said on Friday that net inflows for August stood at 247 million euros, an increase of 20% compared to the same period of the year last. Since the start of the year, net inflows amount to 3.9 billion euros.

Eni closed 1.0% higher after announcing it had successfully placed an offering with a total face value of €1 billion of senior unsecured sustainability-linked convertible bonds.

FinecoBank rose 0.6%. The company recorded a strong net inflow of €648 million in August, compared to €343 million a year ago, confirming the acceleration of the bank’s growth trajectory through the acquisition of new clients and to a solid investment effort.

Unipol also performed well, up 0.4%, after announcing – with UnipolSai in the green by 0.4% on the Mid – that it had launched its share buyback programs earlier in the daytime.

Unipol has launched a buyback program for a total of 385,000 shares, which will be purchased by the company itself and by its subsidiary UnipolSai: Unipol’s program covers a maximum of 85,000 shares of the company, or approximately 0 .1% of its share capital, for a maximum period of 18 months and a spending limit of 300 million euros; The UnipolSai program covers a maximum of 300,000 Unipol shares, for a maximum period of 18 months and a spending limit of 100 million euros.

UnipolSai announced that the program covers a maximum number of 850,000 actions, for a maximum duration of 18 months and a spending ceiling of 100 million euros.

Saipem – up 0.9% – announced that it had secured two new contracts for offshore assets in Ivory Coast and Italy, worth a total of 850 million euros. Capital Fund Management also increased its short position in Saipem from 1.0% to 1.12%.

On the Mid-Cap, ENAV rose 0.4% after announcing on Friday that it had signed four new contracts through its subsidiaries IDS AirNav and Techno Sky to provide systems to optimize flight data and improve airspace efficiency, with India, Norway, Romania and Kosovo.

The total amount is around 11 million euros.

Webuild rose 1.1%, after announcing on Thursday that it would continue its growth in Australia and expand into new segments for the group. Australian subsidiary Clough has won the A$420 million contract to build the Shiplift in the port of Darwin, on the north coast of Australia. The project includes the construction of a modern system for lifting, ground handling and launching of small and large vessels, which will consolidate the role of the coastal city as a hub for the maintenance of ships and support services in the region.

In the small-cap segment, Mondo TV – up 3.1% – announced on Monday that it had signed a deal with Hangzhou Youku Culture Entertainment Co, China’s leading video-on-demand content provider, which is part of the famous global Alibaba operating group.

The agreement covers the licensing of the new series Grisù, co-produced with ZDF Studios, for 52 12-minute episodes in China.

Beghelli – in deficit of 1.7 percent – announced on Monday that it had approved the results of the first half of the year, in which the company recorded a loss of 1.6 million euros, compared to a profit of 450,000 euros during the same period of the previous year.

Consolidated turnover as of June 30 amounted to 82.4 million euros, an increase of 10% compared to the 74.8 million euros recorded in the first half of 2022.

Eurotech’s board of directors – in the green to the tune of 1.1% – examined and approved the results of the first six months, a period which ended with a net loss of 940,000 euros, compared to a loss of 4.26 million euros for the first six months of 2022.

The turnover for the first six months of 2023 amounts to 47.9 million euros, compared to 34.74 million euros for the first six months of 2022.

Among SMEs, NVP was not affected by trade. The company announced on Saturday that it had obtained a medium-long term KPI ESG Linked loan for a total amount of 1 million euros from Crédit Agricole Italia and guaranteed by SACE.

The objective of the operation, specifies the company in a note, is to “support investments for the production of images linked to international events by WTA Media and Dazn Group Limited UK, as well as to increase production capacity to meet the demands of foreign customers.

Ecosuntek rose 2.6 percent after announcing on Friday that the value of its production in the first half was 253 million euros, compared to 286.3 million euros for the same period in 2022, a drop of about 12 percent.

Civitanavi Systems closed 0.5 per cent higher on Monday after announcing the opening of a new state-of-the-art factory in the heart of the aerospace and defense industry in Filton, Bristol, UK. United.

In Asia, the Nikkei rose 0.9 percent to 32,773.54, the Hang Seng was slightly in the green at 18,100.78, while the Shanghai Composite fell 0.1 percent to 3,140.22. .

In New York, the Dow Jones closed 0.3 percent green at 34,663.72, the S&P was up 0.7 percent at 4,487.46, while the Nasdaq closed green by 1.1 percent to 13,917.90.

Among raw materials, a barrel of Brent was worth 90.89 USD against 90.35 USD at Monday’s close. Gold, meanwhile, is trading at USD 1,942.35 per ounce compared to USD 1,944.75 per ounce on Monday evening.

On Tuesday’s economic calendar, the consumer price index and the producer price index are published at 0900 CEST in Spain, while two hours later, still in Germany, the ZEW index of economic conditions in the country is published and in the euro zone the ZEW sentiment index is published.

On the bond front, a 12-month BOT auction is expected in Italy at 1110 CEST.

Overseas, the Small Business Optimism report will be released at 12:00 CEST, while the EIA’s short-term energy forecast is due at 18:00 CEST.

Among the companies listed in Piazza Affari, results from B&C Speakers, Cembre, Circle, Garofalo Health Care, Giglio Group, SAES Getters and Tamburi Investment Partners, among others, are expected.

This article is originally published on zonebourse.com

Beth Malcolm

Beth Malcolm is Scottish based Journalist at Heriot-Watt University studying French and British Sign Language. She is originally from the north west of England but is living in Edinburgh to complete her studies.