MILAN – Cautious rises for European stock markets tomorrow. The price lists are mainly looking at the data on American inflation in February, which arrives this afternoon and is expected to remain stable at 3.1% in February, but decline in the core component by 0.2% to 3.7%. Istat signals caution regarding the global economy, which “continues to suffer from high uncertainty regarding the development of geopolitical tensions and is characterized by moderate growth prospects.” In the monthly note on the Italian economy, the institute notes that the Belpaese “registered an annual GDP increase of 0.9%, slowing compared to 2022 but above the euro area average”, but for the future ” the signals went out.” The surveys on the confidence climate are contradictory.” In an overall positive session for the Asian markets, Tokyo closed slightly in the red at -0.06%.
Italgas, net profit up 11%. The coupon also increases
Italgas closed the 2023 annual accounts with a growth of 11.1% in adjusted net profit, that is, net of extraordinary items: it amounted to 439.6 million euros. Shareholder remuneration is also growing: the coupon increases at the same time by 11% to 0.35 euros. Sales amounted to 1.77 billion (+15.4%), technical investments increased by 11% to 906 million. CEO Paolo Gallo noted in a statement that “28 quarters of uninterrupted growth is an exceptional result, even more so for a company like Italgas, which operates primarily in a sector that has had to contend with a particularly unstable international environment in recent years” .
Piazza Affari is strengthened by the accounts
The Milan stock exchange is rising in view of the American inflation data. The Ftse Mib recorded +0.55%. Standouts in the list are Leonardo (+2.27%, but reached a 17-year high of +4.5%), Banca Generali (+1.98%) on the day the Lion of Venice closed its annual accounts presented, and A2A (+ 1.98%). presented the bill and plan. Saipem is also at +2.35% and Bper Banca is at +2.89%. Italgas, on the other hand, is declining (-0.65%) while awaiting the budget results, Iveco -2.3% and Unipol -1.02%.
Bot auction, 7.5 billion sold with slightly increasing returns
The Treasury sold 7.5 billion euros worth of annual BOTs in March 2025, with a yield that rose two basis points to 3.546%. Investor demand amounted to almost 10 billion euros.
Ferragamo is included in the Mib Esg
Salvatore Ferragamo announces its return from March 18 to the Euronext Mib Esg index, the environmental, social and governance basket for Italian blue chips that identifies the 40 listed companies with the best ESG practices. He left it last year. Ferragamo’s return to Mib Esg, explains the Florentine house in a statement, “testifies to the determination with which the company pursues its sustainability strategy integrated into its business model.” Since 2017, the group has had a sustainability certificate approved by the Board of Directors, which monitors the Progress by updating the targets annually to ensure continued progress towards the 14 environmental, social and governance goals.” “We are proud to be part of the Mib ESG Index, which tracks improving environmental and reflects social performance. This is a confirmation of our commitment to creating shared value for our shareholders, Ferragamo employees, our partners and local communities,” comments Marco Gobbetti , CEO and General Director of Ferragamo.
Positive European stock markets
European stock markets are taking a stand in the face of American inflation data, which analysts expect to be confirmed at 3.1% in February. London rose 0.7%, Frankfurt 0.2%, Milan and Paris 0.1%, while on the government bond front there was a slight decline in yields, with the 10-year BTP below 3.6% fell and the spread to the federal bond flattened to 130.
Chinese Stock Markets Close Mixed, Hong Kong Rises on Tech
Mixed results for the Chinese stock markets, which continue to be burdened by economic uncertainties. At the end of the session, the Shanghai Composite Index lost 0.41% to settle at 3,055.93 points, while Shenzhen’s ended with a rise of 0.82% to 1,770.57 points. The performance of the Hong Kong stock exchange was much more brilliant, recording an increase of 3.05% to 17,093.50 points: it is growing for the third time in a row thanks to the gains of the e-commerce giants Jd.com and Alibaba as well as the electronics giant Xiaomi recorded a rise of more than 10% after it announced it would begin marketing its first electric vehicle by the end of 2029.
Rising start for the European stock markets
European stock markets are starting to rise as investors prepare for the latest U.S. inflation report, which could provide clues about the direction of the Fed’s monetary policy. In early trading in London, the Ftse 100 index rose by 0.97% to 7,743.25 points, in Frankfurt by 0.97% to 7,743.25 points, Dax 0.27% to 17,803.39 points, in Paris the Cac40 rose by 0.42% to 8,053.52 points and in Madrid the Ibex35 rose by 0.36% to 10,363.07 points. At Piazza Affari, the Ftse Mib index marks +0.38% at 33,440.48 points
In Germany, inflation slows to 2.5% in February
In Germany, inflation slowed on an annual basis in February from +2.9% in January. This is the lowest value since June 2021. This was announced by the Federal Statistical Office Destatis, thereby confirming the preliminary estimate. The consumer price index rose to +0.4% from 0.2 in January. Both dates correspond to expectations.
Gas opens deeper
European natural gas prices start lower. At the TTF reference hub, futures on the April contract lost 1.44% to 24.57 euros per megawatt hour.
A2A, net profit up 36%
A2A closes 2023 with a net profit of 659 million euros, an increase of 64% compared to 2022, and a turnover of 14.758 billion, a decrease of 36% due to the downward dynamics of raw material prices. The dividend proposed by the group amounts to 0.0958 euros per share, an increase of 6% compared to the dividend paid last year (0.0904 euros per share). A2A confirms its EBITDA of 1.93 billion, an increase of 30% compared to 2022, and its net financial position of 4.683 billion (4.258 billion euros as of December 31, 2022), already announced with the preliminary results on February 20 .
Tokyo closes at 3-week low
Weak closing price on the Tokyo Stock Exchange, which reached its lowest level in the last three weeks: the Nikkei fell 0.06% to 38,797 points, while the Topix lost 0.36% to 2,657 points. On the other hand, data showed that producer prices rose more than expected in February, supporting the view that the Bank of Japan could soon start raising interest rates. The latest producer inflation data also coincided with rising wages and an upward revision to the country’s fourth-quarter GDP data. Additionally, caution dominated sentiment ahead of key US inflation data that could influence the Fed’s monetary policy outlook.
Tech stocks led the market lower, with losses in Tokyo Electron (-1.7%), Renesas Electronics (-4%) and Keyence (-1.2%). Other index heavyweights also fell, including Mitsubishi UFJ (-2.1%), Toyota Motor (-0.7%) and Hitachi (-1.2%).
