(Alliance News) - Major European indexes opened near parity on Monday, at the start of a week full of events potentially moving the market, including upcoming central bank policy meetings by the Federal Reserve and the Bank of England.

In Piazza Affari, oil stocks recovered as Brent crude futures rose for the fourth session approaching USD84 a barrel Monday, the highest level in nearly three months, driven by the weekend's escalation of the Middle East conflict.

The FTSE Mib is tied at 30,379.33, the Mid-Cap is in the fractional red at 45,481.29 as is the Small-Cap at 27,837.97 while Italy Growth rises 0.1 percent to 8,305.13.

In Europe, London's FTSE 100 rises 0.2 percent, Paris' CAC 40 is in the fractional red while Frankfurt's DAX 40 gives up 0.3 percent.

In Piazza Affari, on the Mib, oil stocks did well with Saipem up 2.3 percent, Eni up 1.7 percent and Tenaris in the green by 0.9 percent

Iveco Group and UniCredit also did well, up 1.1% and 0.9%.

Poste Italiane -- in the red by 0.4 percent -- announced Thursday that it had approved plans to merge Address Software Srl, whose share capital is wholly and directly held by Poste Italiane itself.

"The operation is aimed at standardizing, evolving and engineering the processes of operation of the group's technology platforms as well as streamlining and rationalizing the operating structure; this is also in order to achieve a reduction in the characteristic costs of each corporate structure as well as to realize the consequent improvement in the group's economic results," the company explained in a note.

Hera - in the red by 1.1 percent - announced Thursday that its subsidiary Herambiente Servizi Industriali has entered into a binding agreement to purchase 70 percent of Piacenza-based TRS Ecology, to which the business unit pertaining to TRS Ecologi's multi-purpose platform for the treatment of special waste located in Caorso (PC) has been contributed.

Also hurting was STMicroelectronics - in the red by 0.7 percent -, which reported Thursday that it had revenues of USD4.28 billion in the fourth quarter of the year, down 3.2 percent from USD4.42 billion in the same period of 2022. Gross profit amounted to USD1.95 billion down 7.3 percent from USD2.10 billion in the fourth quarter of 2022.

Snam, on the other hand, drops 1.2 percent after approving its 2023-2027 strategic plan. The company aims to achieve an increase in adjusted Ebitda of 7.4 percent on average per year, from about 7 percent in the previous plan. It also expects adjusted net income with growth of about 4 percent on average per year, up from 3 percent in the previous plan, "despite more onerous interest rates," the released note said.

On the Mid-Cap, Salvatore Ferragamo -- up 7.6 percent -- reported Thursday that preliminary revenues for 2023 stand at EUR1.16 billion from EUR1.25 billion in the previous year and therefore down 7.6 percent. The retail distribution channel as of December 31 reports net sales down 11 percent on 2022 and wholesale sales down 12 percent on the previous year.

De' Longhi--on the bottom with a 4.4 percent decline--reported preliminary revenues in the first 12 months of 2023 of EUR3.1 billion, down slightly by 2.7 percent from the same period last year. As for the fourth quarter, preliminary revenues stood at EUR1.02 billion, up 4.6 percent on the same period a year earlier.

On the Small-Cap, Italian Exhibition Group gives up 0.5 percent after closing up 7.9 percent following Thursday's approval of the 2023-2028 Strategic Plan, which calls for 2028 revenues of EUR323 million, adjusted Ebitda of EUR90 million and a Net Financial Position of EUR3.0 million. Over the entire plan period, IEG anticipates a EUR172 million investment plan and dividends between EUR16 and EUR21 million.

The board of directors of Aeffe -- up 1.4 percent -- on Thursday approved preliminary sales figures for fiscal year 2023, which closed with consolidated revenues of EUR319 million, compared to EUR352 million in 2022, a decrease of 9.0 percent at constant exchange rates and 9.5 percent at current exchange rates.

Among SMEs, ESI's stock opens up 20 percent and is stuck. On Friday it announced the signing of a framework agreement with a leading institutional investor.

The agreement concerns the technological modernization of photovoltaic plants located in Italy, with a total capacity of 60 MWp. The amount of the order, amounting to about EUR 23.40 million, will be for the two-year period 2024-2025.

Xenia Hotellerie Solution is still not pricing. The company announced Sunday that it has strengthened its partnership with the Piccola Casa della Divina Provvidenza-Cottolengo in Turin. This partnership is geared toward the development of Xenia's ESG activities. The companies have reconfirmed the Welcome Aid project aimed at supporting activities to assist the underprivileged and disabled, and have initiated discussions for a new collaboration project for the enhancement of some properties of the Piccola Casa della Divina Provvidenza-Cottolengo destined for accessible tourism accommodation activities.

ICF Group gives up 0.9 percent after announcing Friday that it viewed preliminary figures for 2023, in which revenues stood at about EUR80 million, down from EUR88 million in 2022.

Adjusted Ebitda for the period is estimated to be EUR8.8 million, up from EUR7.8 million in the year 2022.

Simone is not yet affected by trading. The company announced Friday that Global Coordinator Integrae SIM Spa has exercised in full the Greenshoe Option granted by parent company Giunima Srl for a total of 75,000 ordinary shares.

The Greenshoe Option was exercised at a price of EUR2 per share, the same as the placement price, for a total consideration of EUR150,000. The free float, taking into account the full exercise of the Greenshoe Option, is now 27.63 percent, as a percentage of the total number of ordinary shares, excluding multiple voting shares.

Marzocchi Pompe -- not yet trading -- reported Thursday that during fiscal 2023, consolidated net revenues stood at EUR49.8 million, up 2.6 percent from the 2022 figure of EUR48.5 million. The figure represents an all-time high achieved by the group.

In Asia, the Nikkei closed in the green by 0.8 percent at 36,026.94, the Hang Seng was up 0.8 percent at 16,086.00, and the Shanghai Composite ended in the red by 0.9 percent at 2,883.36.

In New York, the Dow closed up 0.2 percent at 38,109.43 the Nasdaq finished 0.4 percent in the red at 15,455.36 and the S&P 500 closed just below par at 4,890.97.

Among currencies, the euro changed hands at USD1.0839 against USD1.0862 recorded at Friday's European stock close, while the pound was worth USD1.2712 from USD1.2716 on Friday evening.

Brent crude is worth USD84.05 per barrel versus USD81.96 per barrel at Friday's close. Gold, on the other hand, trades at USD2,032.34 an ounce from USD2,018.32 an ounce Friday night.

On Monday's calendar at 1000 CET the Italian trade balance is expected. In the afternoon, French BTF auctions will be held at 1455 CET while the Dallas Fed PCE index will be released from the US at 1500 CET.

In Piazza Affari, Take Off results are scheduled.

By Chiara Bruschi, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.