news/BKR/2023.02.02/Europeans bullish after ECB; TIM in bullish trend.txt

(Alliance News) - European stock markets closed on Thursday with bullish trends, on the day the European Central Bank raised interest rates by 50 basis points-as widely expected-and hinting that there will be a similar increase at its next meeting in March. Although the ECB did not provide a more accommodative tone like its counterpart in the United States and the United Kingdom, risk appetite remained buoyed by the narrative that the tightening cycle is coming to an end. In the U.S. on Wednesday, the Fed reduced the magnitude of rate hikes as expected--going up only 25 bps--while acknowledging that the central bank has made progress in fighting inflation. However, it hinted at further increases at future meetings.Thus, the FTSE Mib closed in the green by 1.5 percent at 27,100.62.Among the smaller listings, the Mid-Cap closed up 1.1 percent to 44,460.60, the Small-Cap in the green by 0.9 percent to 29,945.63, and Italy Growth in the green by 0.5 percent to 9,542.98.In Europe, Paris's CAC 40 closed up 1.4 percent, London's FTSE 100 picked up 0.8 percent, while Frankfurt's DAX 40 finished in the green by 2.2 percent.On the main list of Piazza Affari, Telecom Italia moved ahead 9.5 percent to EUR0.2870. As Francesco Bonazzi writes in Alliance News, "after last night's anticipations, Telecom Italia confirmed this morning that it has received a non-binding offer from KKR for a stake in a newly formed company that will comprise the fixed network perimeter, including FiberCop, and the controlling stake in Telecom Sparkle, which owns the submarine cables and ensures, among others, internet services to Israel." "The stake in NetCo will be a majority stake and the acquisition of KKR would result in the loss of vertical integration with respect to TIM. The value of the offer, according to sources close to the deal, would be EUR20 billion," writes the Alliance News columinist. Ferrari -- up 7.3 percent -- announced on Thursday its preliminary consolidated results for the fourth quarter and twelve months ended December 31, 2022, reporting a full-year net profit of EUR939 million, up 13 percent from the previous year, when it amounted to EUR833 million. As for fourth-quarter net income, this stands at EUR221 million in 2022 from EUR214 million in fourth-quarter 2021.Amplifon, on the other hand, rises 7.8 percent, following eve's green with 1.5 percent. CNH Industrial -- down 7.5 percent -- on Thursday released its fourth-quarter and full-year 2022 results, its first as a player in Agriculture and Construction, confirming that the board intends to recommend an annual dividend per share of EUR0.36. In the 12 months to Dec. 31, the group made a net profit of USD2.04 billion up from USD1.80 billion in 2021.The company also announced that the board of directors has decided to delist from Euronext Milan and "that shareholders will benefit more from listing on the NYSE only," as the company explained in a note.On the Mid-Cap, Sesa advances 6.7 percent. The stock is trading high with nearly 50,000 units traded, compared with a three-month daily average of about 14,800. High quarters also on Mutuionline, which scores a plus 5.2 percent. The company is proceeding with its buyback program, where it most recently announced Monday evening that it has purchased ordinary shares for a total value of EUR107,000 or so. Among the bearish minority, Saras gives up 9.7 percent, reversing course after four bearish sessions. Industrie De Nora closes 3.5 percent in the red after eve's gain of 2.9 percent. The company on Thursday reviewed preliminary data as of Dec. 31, letting it know it reported consolidated revenues of more than EUR850 million from EUR615.9 million in 2021 and marking a 38 percent increase.On the Small-Cap, good buying on Alkemy, which closes ahead 2.7 percent. The company announced Wednesday that it has launched an internal division dedicated to funds, "able to support the strategy and develop the business of the investees in its portfolio with the aim of accelerating their growth by making the most of all the levers of digital," as explained in a note.Eurotech, on the other hand, rises 4.5 percent with assets on the month rising to 16 percent. Geox - up 0.5 percent - shared preliminary full-year 2022 results on Thursday, reporting revenues of EUR735.5 million up 21 percent from EUR608.9 million in 2021. Net financial position as of Dec. 31, 2022 is negative EUR49.8 million from minus EUR64.3 million as of Dec. 31, 2021.On the bearish front, Eems is reported to be down, giving up 0.5 percent, replicating the 2.3 percent red with which it closed the previous session.Among SMEs, Almawave advances with 5.0% on the heels of the 1.3% gain on the eve. CleanBnB ahead 3.4% to EUR1.06 after six sessions closed on the bearish side. Pharmacosmo, on the other hand, advanced 4.6%, rearing its head after two bearish sessions. Confinvest - up 1.0 percent - announced Thursday that it had signed a partnership with Fabrick - the first player established in Italy with the aim of fostering open banking - aimed at including Conto Lingotto in the services offered by Fabrick.In New York-with stock exchanges trading in full swing-the Dow is giving up 0.4 percent, the Nasdaq is up 2.9 percent, and the S&P 500 is marking a 1.4 percent green. Among currencies, the euro changes hands at USD1.0917 versus USD1.0918 at Wednesday's close. In contrast, the pound is worth USD1.2255 from USD1.2302 last night.Among commodities, Brent crude is worth USD82.70 per barrel compared to USD85.07 per barrel on Wednesday evening. Gold, on the other hand, trades at USD1,919.70 an ounce from USD1,924.75 an ounce last session.Friday's macroeconomic calendar will feature China's services PMI at 0245 CET, while from Italy it will be released at 0945 CET.  Five minutes apart will then come from France, Germany, and finally at 1000 CET from the Eurozone. At 1030 CET, that of the United Kingdom will be released instead.At 1100 CET, from the Eurozone, coming the producer price index. From the US, at 1430 CET the unemployment and nonfarm payrolls, at 1545 CET the manufacturing PMI and at 1900 CET the report from Baker Hughes on drilling rigs.At 2130 CET, as usual on Friday, the COT Report. Among companies, results from Intesa Sanpaolo are expected. By Maurizio Carta, Alliance News reporterComments and questions to [email protected] 2023 Alliance News IS Italian Service Ltd. All rights reserved.