(Alliance News) - The Mib closed the first session of the week on the downside, registering a decline that brought the point bar down to the 33,700 area. Investors are focused on interventions by some central bank members in Europe and the US, looking for signals on possible interest rate cuts by the ECB and Federal Reserve in December.

According to Yannis Stournaras - a member of the Governing Council of the European Central Bank - it is almost certain that the ECB will cut interest rates by 25 basis points in December, as reported in his interview on Bloomberg. Asked if such a move was now certain, the Greek Central Bank governor replied "more or less," adding that he believes a 25 basis point reduction is optimal.

Thus, the FTSE Mib closed 1.3 percent red at 33,758.43, the Mid-Cap rallied 0.1 percent to 46,865.62, the Small-Cap gave up 0.8 percent to 26,987.66, and Italy Growth was up fractionally at 7,770.00.

In Europe, London's FTSE 100 closed in the green by 0.6 percent, Paris' CAC 40 picked up 0.1 percent, and Frankfurt's DAX 40 is giving up 0.1 percent.

On the highest-capitalization list in Piazza Affari, strength on Banco BPM, which closed bullish by 3.4 percent at EUR6.86 per share, in its third bullish session.

Good buying also on BPER Banca, which closed bullish by 2.3 percent at EUR6.07 per share. The stock during the session touched a new 52-week high at EUR6.14 per share.

Generali -- down 0.2 percent -- announced Monday that from Nov. 11 to Nov. 15 it purchased treasury shares worth a total of EUR16.7 million. Generali thus holds 45.0 million shares or 2.9 percent of the share capital.

Enel - in the red by 1.3 percent - announced Monday its strategic plan for the period 2025-2027, highlighting a clear vision of sustainable growth and consolidation of achievements. Planned investments amount to EUR43.00 billion, marking an increase of EUR7.00 billion over the previous plan.

DiaSorin, on the other hand, closed down 2.6 percent, after a 2.1 percent gain on Friday evening and with new price at EUR104.35.

On the MidCap, purchases on Digital Value, which gathered 4.1 percent on the heels of Friday night's 4.3 percent green. Of note, Citadel Advisors raised its short on the stock to 0.61% from 0.53% previously.

Berenberg raises the target price of El.En. to EUR13.00 from EUR12.40 with a 'buy' recommendation. The stock closed as the best on the list up 4.5 percent to EUR12.13 following up Friday night's green with 2.0 percent.

The same German private bank also raised Buzzi Unicem's target price to EUR42.00 from EUR40.00 with a 'hold' recommendation from 'buy'. The shares closed down 0.7 percent.

Webuild--on a positive note with 0.2 percent--reported Friday that it closed the first nine months with EUR8.3 billion in orders taken, more than 90 percent of which came from abroad, and mainly Australia, the US, Saudi Arabia and Europe. With the addition of further orders being finalized in the coming months, the company points out, "the total orders envisaged for the entire 2023-2025 plan are already fully acquired."

The board of Alerion Clean Power - in the green by 1.5 percent - resolved on Monday to issue an unsecured, nonconvertible and unsubordinated senior bond with a fixed countervalue of EUR200 million with the possibility of increasing by a further maximum of EUR100 million, with a duration of six years from the date of issue, to be qualified as a Green Bond, intended both for the general public in Italy and for qualified investors in Italy and institutional investors abroad, to be issued in the coming months. The bond will have a fixed interest rate of 4.75 percent on an annual basis, with semi-annual payments.

GVS, on the other hand, left more than 10 percent on the parterre after a 1.6 percent gain last session. The company reported Thursday that it closed the first nine months with revenues of EUR326.8 million, up from EUR317.8 million in the same period last year.

On the SmallCap, I Grandi Viaggi closed up 7.3 percent, following a 1.4 percent red on Friday night and priced at EUR1.11. The stock - which has been missing the ex-dividend since 2019 - in the MarketScreener platform has a target price expressed by a single analyst of EUR1.15

Seri Industrial brought home a plus 6.9 percent to EUR2.96. The company announced Monday that its FAAM-branded subsidiary FIB Spa has signed a framework agreement with Power4Future Spa, a Fincantieri Group company, for the supply of lithium-ion batteries. The total value of the agreement is EUR100.9 million.

Eurogroup Laminations gave up 7.7 percent, following Friday night's 4.1 percent loss that interrupted two bullish sessions. The company disclosed last week that it closed the first nine months with revenues of EUR649 million, up from EUR644 million in the same period last year.

Itway, on the other hand, dropped 6.3 percent. The company on Friday approved its interim report on operations as of Sept. 30, recording a pre-tax result that instead went from a positive EUR639,000 to a liability of EUR392,000, "mainly due to foreign exchange losses realized by the Turkish subsidiary," the company specifies in the released note.

On the Italy Growth segment, Gismondi 1754 closed up more than 12 percent to EUR3.19 per share, following a 3.0 percent decline in the previous session.

Caribbean Compangia, on the other hand, rallied 3.8 percent, after minus 2.8 percent in the previous session and with closing price at EUR0.65 per share.

Omer - in the green by 1.5 percent - on Monday reported that it had reviewed its management data for the first nine months of 2024, a period in which it reported total consolidated revenues were about EUR58.4 million up 23 percent from the same period in 2023.

IDNTT - flat at EUR2.84 - announced Monday a joint venture with Maurizio Rossi Production to transform Donnavventura, a historic travel TV format, into a digital media company. The collaboration aims to enhance the historical archive, create new omnichannel content and develop talent and influencers in the travel industry, promoting sustainable and innovative experiences.

In New York, the Dow is just above parity, the Nasdaq is advancing 0.8 percent, and the S&P 500 is rising 0.5 percent.

Among currencies, the euro changes hands at USD1.0569 from USD1.0547 on Friday in closing European equities. The pound is worth USD1.2645 against USD1.2638 on Friday evening.

Among commodities, Brent crude is worth USD72.98 per barrel from USD72.12 per barrel Friday night. Gold trades at USD2,610.93 an ounce from USD2,566.90 an ounce Friday night.

On Tuesday's macroeconomic calendar, at 0800 CET, EU car registration data will be released.

At 1000 CET, from the Eurozone it will be the turn of the current account balance figure while, at 1100 CET, Bank of England number one Andrew Bailey will give a speech.

Again from the Eurozone, at 1100 CET, it will be the turn of the inflation figure.

At 1430 CET, from the US, release of the data on the construction industry, with permits and new concessions.

At 2230 CET, the weekly oil stocks report will be released.

Among companies, Franchi Umberto Marmi, iVision Tech and Laboratorio Farmaceutico Erfo are scheduled to report.

By Maurizio Carta, Alliance News reporter

Comments and questions to redazione@alliancenews.com

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