Mib caresses 34,000; Amplifon bullish

(Alliance News) - On Monday, Milan closed on a bullish trend, with the blue chip index hovering just below 34,000 points, a level that was nevertheless surpassed during the session, in line with the performance of other European marketplaces, thanks to investors' growing confidence in interest rate cuts by major central banks, which fueled optimism toward the buy side.

Thus, the FTSE Mib closed in the green by 1.1 percent at 33,986.90, the Mid-Cap closed in the green by 0.8 percent at 47,660.87, the Small-Cap was in the red by 0.2 percent at 28,993.81 while Italy Growth closed up by 0.4 percent at 8,251.56.

On the domestic front, the HCOB PMI index of tertiary activity in Italy stood at 54.3 points in April, slowing slightly from 54.6 points in March, as released by S&P Global on Monday. The April data signaled sustained expansion in Italy's tertiary sector, with economic activity growing for the fourth consecutive month, the release said.

In Europe, Paris' CAC 40 rallied 0.5 percent, Frankfurt's DAX 40 closed ahead 1.0 percent while London's marketplace was closed for holidays.

On the Mib, the board of Amplifon -- up 4.6 percent -- on Monday approved its interim report as of March 31, which closed with a net profit on a recurring basis of EUR35.7 million, up 2.2 percent from EUR34.9 million reported in the first quarter of 2023.

Intesa Sanpaolo, equally in the top quarters, advanced 2.9 percent. The bank reported on Friday that it reported first-quarter profit of EUR2.30 billion for the year, up 18% from EUR1.96 billion and in line with its EUR8 billion target for the year.

Good buys also on Pirelli, which brought home a 2.3 percent green after a 1.4 percent decline on Friday evening.

Brunello Cucinelli, on the other hand, gave up 1.5 percent, with final price at EUR96.60, after Friday night's 3.0 percent green.

Recordati, on the other hand, gave up 0.8%, taking a step back after five sessions closed with a bullish candle.

On the Mid-Cap, Anima Holding -- up 5.4 percent -- reported Monday that its board of directors approved the consolidated interim report as of March 31 and a new EUR40 million buyback program. Thus, in the first quarter, the group posted a profit of EUR52.9 million, up 75% from EUR30.2 million in the first quarter of 2023. The consolidated results, the company says, include the contribution of Castello SGR, acquired in July 2023.

d'Amico, meanwhile, rallied 3.2 percent after two sessions closed down.

Webuild -- in the green by 1.4 percent -- announced that it has submitted a pro bono project with its U.S. subsidiary Lane to rebuild Baltimore's Francis Scott Key Bridge, which collapsed last March causing the loss of numerous lives and severing a vital link between the city's harbor and the Atlantic Ocean.

At the back of the pack is Comer Industries, which closed with a negative balance for the fourth consecutive session, marking a minus 3.1 percent.

Italmobiliare, on the other hand, marks a minus 3.2 percent, after the 1.5 percent green in Friday's session and closing at the tail end of the segment.

On the Small-Cap, Cairo Communication rallied 6.4% with new price at EUR2.32.

SIT, on the other hand, rallied 4.0 percent to EUR2.33, pending results due out on Thursday.

Safilo Group gave up 0.7 percent, following Friday night's 1.4 percent positive balance. The company announced Thursday that it has signed a perpetual license agreement with Authentic Brands Group for Eyewear by David Beckham, replacing the previous contract that expires at the end of 2030. Under the new agreement, Safilo will continue to manage the entire value chain, from the design phase, a creative process led by David Beckham, to manufacturing and global distribution.

Seri Industrial gave up 4.0 percent after two heavy bearish sessions. On Tuesday it reported that during the first quarter 2024 it posted revenues of EUR43.4 million with a slight decrease of EUR237,000 from the previous reporting period.

Gefran, on the other hand, left on the parterre equally 4.0 percent, following a 0.5 percent decline in the previous session.

Among SMEs, boost on Arterra Bioscience, which advanced more than 10 percent, in its fifth bullish session.

Alfio Bardolla also advanced 10% to EUR3.20, turning upward after two bearish sessions.

Clabo -- in the red by 3.9 percent -- announced Thursday that it had approved consolidated financial statements as of December 31, which closed with a profit of EUR1.2 million from EUR900,000 a year earlier. Revenues rose to EUR60.5 million from EUR51.4 million.

Imprendiroma closed down 6.5 percent, following the double-digit decline with which it closed the session Friday night.

In New York, the Dow is in the green by 0.2 percent, the Nasdaq is up 0.7 percent while the S&P 500 is advancing 0.6 percent.

Among currencies, the euro changes hands at USD1.0778 from USD1.0747 on Friday in closing European equities while the pound is worth USD1.2573 from USD1.2549 on Friday evening.

Among commodities, Brent crude is worth USD83.47 a barrel from USD83.61 a barrel Friday night and gold trades at USD2,322.79 an ounce from USD2,292.05 an ounce Friday night.

Tuesday's macroeconomic calendar features UK retail sales data, due at 0101 CEST, while UK house prices will be released at 0800 CEST, the same time as Germany's trade balance and 45 minutes ahead of France's.

At 0930 CEST, focus on the construction PMIs of the major eurozone economies while eurozone retail sales will be released at 1100 CEST.

In the afternoon, eyes will be on the EIA's short-term energy estimates while, at 2230 CEST, the day closes with data on weekly oil inventories in the US.

Among companies, several quarterly reports are expected, including Antares Vision, Banco BPM, Campari, Ferrari, FinecoBank and Safilo.

By Maurizio Carta, Alliance News reporter

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