(Alliance News) – On Monday, the Mib closed higher in the 34,600 area, extending last week’s rally along with other European markets, while investors await the European Central Bank’s decision on interest rates later in the week, which should lead to a cut in the cost of money by 25 bps.
Brent crude prices fell below USD80.00 a barrel on Monday for the first time since February, after an OPEC+ meeting in which members agreed that countries could begin phasing out voluntary production cuts starting from October.
Thus, the FTSE Mib closed in the green by 0.7% at 34,670.06, the Mid-Cap gained 0.2% at 47,838.27, the Small-Cap closed in the green by 0.2%, while Italia Growth closed flat at 8,192.15.
In Europe, the FTSE 100 in London – the only bearish one – closed in the red by 0.1%, the DAX 40 in Frankfurt rose by 0.6% and the CAC 40 in Paris closed in the green by 0.1%.
On the Mib, Telecom Italia advanced by 4.1% to EUR0.2520. As Francesco Bonazzi writes on Alliance News, “after the green light from Brussels for the sale of the network, the stock exchange expects this to really be the right time for Telecom Italia and today rewards the stock with a clear rise. In the background, there are still two questions: the sale of Telecom Sparkle and the profitability of the telephone operator (ServCo) after the sale of the infrastructure (NetCo)”.
Leonardo instead gained 2.4% to EUR24.14, with the stock updating its 52-week high during the session to EUR24.35 per share.
STMicroelectronics, on the other hand, closed ahead by 1.4% at EUR38.32 per share. On the stock, it should be noted that Citadel Advisors has reduced its short position on STMicroelectronics to 0.58% from the previous 0.6%.
UniCredit closed 1.2% in the green after announcing on Monday that it will exercise the early repayment option of two securities issued in 2019. In detail, the bank will repay early the EUR1.25 billion fixed rate bond maturing in June 2025 and the EUR750.0 million note maturing in July 2025. Both redemptions will take place at par, with the first taking place on 25 June this year and the second taking place on 3 July.
In the cadet segment, OVS increased by 5.1%, with a new price of EUR2.86 per share.
GVS advanced 4.7%, after 0.6% green on Friday evening.
LU-VE instead lost 3.4%, turning downward after two sessions closed on the bulls.
Anima Holding – in the red by 0.6% – announced on Monday that it had acquired, between 27 and 31 May, 580,700 of its own ordinary shares at an average price of EUR4.8306 each and for a value of EUR2.8 million.
Banca Ifis – in the red by 0.7% – announced that Katia Mariotti, current head of the NPL department, has completed the three-year industrial plan of the same management, and from next August 3rd she will undertake a new professional role at AMCO – Asset Management Company .
In the Small-Cap segment, Alkemy closed up more than 19%. Retex announced on Monday that it had launched a takeover bid for Alkemy shares. The offer is EUR12.00 for all 5.7 million ordinary shares of the company and is aimed at the delisting of Alkemy. Duccio Vitali, managing director of Alkemy, will join the offer with his 625,616 shares, equal to 11% of Alkemy’s share capital.
The value offered by Alkemy represents a premium of 21% compared to the closing of Friday 31 May and 16% compared to the average of the last 12 months, 9.7% compared to that of the last half-year and 22% compared to that of the last quarter. In the event of full acceptance of the takeover bid, Retex will pay a total of EUR68.2 million.
Class Editori instead collected 8.9%, after the deficit on Friday evening with 1.0%.
Sogefi rose 2.4% after announcing on Friday that it had completed the sale of its Filtration division to the US investment fund Pacific Avenue Capital Partners. The cash consideration collected by Sogefi, in line with what was communicated on 23 February, was equal to EUR331.2 million, determined on the basis of an enterprise value equal to EUR374 million and adjustments that take into account the net working capital and the net financial position estimated as of May 31, 2024.
The board of directors of Softlab – in the red by 3.0% – approved the draft consolidated financial statements as of 31 December 2023, closing with a loss of EUR400,000 compared to the profit of EUR3.2 million for the year 2022 .
Cellularline closed 1.9% in the red. The company announced on Friday that the minority shareholders of Worldconnect, Samuel Gerber and CAE Invest, have each exercised the put option reserved for them for the sale of 10% of the share capital of Worldconnect to Cellularline. Cellularline therefore comes to hold a controlling share of Worldconnect equal to 90% of the share capital.
Among SMEs, IMD International Medical Devices advanced by 3.5%. The company announced on Friday that it has signed the agreement for the acquisition of 30% of the share capital of General Medical Italia with its partner UK Medical Imaging. The overall price for the purchase of 30% was set at EUR300,000, to be paid in full in cash on the closing date.
High Quality Food instead collected 5.7%, rebounding after three sessions closed with a bearish candle.
Gentili Mosconi lost 4.9%. The company announced on Friday that in the first quarter revenues amounted to EUR11.6 million, compared to EUR13 million in the same period of the 2023 financial year. “The decline in revenues of approximately 11% is mainly attributable to the performance of business line fabrics for clothing which, even in the first months of the financial year, was impacted by the continuation of the slowdown in the luxury market”, reads the note.
In New York the Dow is losing 0.7%, the Nasdaq is advancing by 0.4%, while the S&P 500 is recording a minus 0.2%.
Among currencies, the euro changed hands at USD1.0886 from USD1.0845 on Friday at the European stock close while the pound was worth USD1.2788 from USD1.2724 on Friday evening.
Among commodities, Brent is quoted at USD78.43 per barrel from USD81.66 per barrel on Friday. Gold instead trades at USD2,341.10 per ounce from USD2,329.79 per ounce on Friday evening.
Tuesday’s macroeconomic calendar forecasts Germany’s unemployment rate at 0955 CEST.
From the USA, at 1600 CEST, comes the data on durable goods and the data on new Jolts jobs, while at 2230 CEST it is the turn of the weekly oil inventories.
Among the companies listed on Piazza Affari, no particular appointments are planned.
By Maurizio Carta, Alliance News reporter
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