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On the stock exchange, the Bear has also bitten the Lioness. Most of the listed Brescia companies in Piazza Affari they close the first eight months of the year with a negative balance, in more than one case the loss is larger than that of the reference index Ftse Mib (-21%). They are saved in a few. The best performance since the beginning of the year is that of ABP Nocivelli, an energy service company from Castegnato active in the design and management of healthcare infrastructures. 2022 was a positive year for the performance of the order book, a trend that had positive repercussions for the stock (+ 8.3% since the beginning of the year).
Best performance ever, taking as reference the landing on the Milan list which took place on July 19 this year on Euronext Growth, is that of Wells Milan (+ 88% from the listing), table and home accessories company based in Monticelli Brusati, brought to the stock exchange by Diego Toscani. The other newly listed company based on the shores of Lake Iseo holds the starting positions, Bellini Nautica (+ 17.1% from the listing), a luxury yacht sales and rental company that arrived on the stock exchange in mid-June.
The result of is slightly negative in the first eight months Promotic (-3%), a company from Desenzano that manages promotional campaigns on behalf of customers. The balance of the Camuna is not so different Brescia initiatives, a company based in Breno that manages three hydroelectric plants in Monno, Ponte di Legno and Casnigo (Bergamo). The dividend of 0.80 euros (4.4% yield) must be added to the stock market performance (-6%).
Bialetti loses a few percentage points compared to the beginning of the year (-1.5%): the stock almost doubled compared to the lows of February, after the Coccaglio company, active in the coffee maker segment for small appliances, returned to budget profit. The directors had also reassured in March that they had “the reasonable expectation that the companies and the Group will be able to continue their operations in the foreseeable future”.
The other listed
Less heavy loss than the Milan benchmark index, for Sabaf (-17.5%). The company of components for household appliances handed over to the shareholders a dividend of 0.60 euros (3% yield). Negative change not so different from the index for Antares Vision (-21.7%), a company based in Travagliato active in systems for the inspection and control of industrial processes. Also Cembre (Italian leader in electrical compression connectors), marks a decline in line with the Ftse Mib (-22%).
The company paid the shareholders with a dividend of 1.2 euros (4.51% yields), from ninety cents in 2021. Negative year-to-date balance sheet for Intred (-23.3%) regional telephony operator which in 2021 had almost doubled and is now worth almost three times the price of the IPO. Negative variation of more than one third of the value at the beginning of the year, for the giant A2A (-34.4%), which, like other Italian public utility companies, reached the lows of the period this week: the combined effects of the rate hike and the gas crisis are being felt that are pushing governments across Europe to ask sacrifices to electricity producers. In May, the company controlled by the municipalities of Milan and Brescia paid dividends of € 0.0904 (7.2% yield).
Shareholders should receive “at least 8.5 euro cents per share on 2022 earnings” and “at least 8.7 euro cents per share on 2023 earnings” next year. While, “for the following years, a minimum growth of 3% per year is confirmed”. At the bottom of the ranking there is Neosperience (-43%), a company active in the most advanced areas of technological innovation (digital marketing on the cloud and intelligence), as such, also influenced by what happens to the sector at Nasdaq. The First Trust Artificial Intelligence ETF loses about 30%. The ETF Fidelity Cloud Computing about 35%..
The stock market is no longer the garden of wonders that in the last three years has rewarded those who bet on shares: the super index of the world stock exchanges MSCI World has lost since the beginning of the year over 18%a negative result after + 16% in 2021, + 14% in 2020 and + 24% in 2019.CopyAMP code
Behind the change of course is the return of inflation: “The rise in consumer prices forced central banks to change monetary policy: the ECB moved later, but it will be forced to follow the same path as the Fed,” said Filippo Diodovich, senior strategist at IG. Last week Jerome Powell made it clear that the rate hike will not pay too much attention to any collateral damage, an indication that helps make Diodovich not very optimistic about what’s left of 2022.
“The pill is bitter, but at the moment it is the only one there is,” adds Gabriele Debach, market analyst at eToro. Inflation, which emerged in late 2021, with the outbreak of the war in Ukraine is exploded. And there are no signs of moderation on consumer prices, even in Italy where in August the increase was 0.8%, against the + 0.5% of the euro average and + 0.4% in France: only the Belgium is worse off (+ 0.81%).
For the autumn Debach takes into account more worries on the side of economic growth, with a paradoxical positive effect on the stock exchanges: “The recession is less fearful of inflation.” The slowdown should be accompanied by a drop in bond yields, which is what it takes to restore vigor especially to High Tech, by far the sector that leads the US stock market: if it goes like this, theEurope equity will be led by Wall Street.
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