(Alliance News) - European stock markets are expected to rise Monday, according to IG futures, after news came overnight about the agreement reached between U.S. President Joe Biden and House of Representatives Republican leader Kevin McCarthy about the debt ceiling.

The agreement is "good news" for the American people, Biden wrote in a Tweet then called on Congress to immediately approve the deal to raise the U.S. debt ceiling through 2025 in exchange for significant spending cuts. The House is scheduled to vote on Wednesday while the U.S. stock market is closed today for Memorial Day celebrations.

Thus, the FTSE Mib is expected up 82.5 points or 0.3 percent after closing Friday up 1.2 percent to 26,713.40.

In Europe, with London closed for the third Bank Holiday in May, Paris' CAC 40 is expected up 13.2 points or 0.2% while Frankfurt's DAX 40 is expected to open in the green by 50.0 points or 0.3%.

On Friday, among Italy's smaller listings, the Mid-Cap closed up 1.2 percent at 42,358.76, the Small-Cap rose 0.4 percent to 27,671.76, while the Italy Growth gave up 0.2 percent to 9,105.95.

On the main index in Piazza Affari, STMicroelectronics did best of all, in the green by 3.9% to EUR40.68 per share.

UniCredit - up 0.1 percent - announced Friday that it has expanded its payments partnership with Mastercard that enables the former to provide all cardholders with a first-class offering, with a simplified product proposition, a streamlined digital experience with a full suite of in-app solutions, and the development of a dedicated approach to innovation, increasing payment choice for customers across multiple payment solutions.

Also doing well was Stellantis - up 2.1 percent - which announced Thursday that Stellantis Ventures, the company's venture capital fund, has invested in Lyten to accelerate the commercialization of Lyten's 3D Graphene applications for the mobility industry, including the LytCell lithium-sulfur battery for EVs, lightweight composite materials, and new in-vehicle sensing systems.

Lyten, a pioneer in the use of three-dimensional graphene, will leverage the unique tunability of this material to improve vehicle performance and customer experience while promoting the decarbonization of the transportation sector.

Leonardo closed up 1.1 percent after announcing Thursday that it has signed a contract with Malaysia's Defense Minister to supply two ATR 72 MPA, Maritime Patrol Aircraft platforms.

This contract follows the selection, announced last October, of the solution offered by Leonardo and comprising the supply of two ATR special mission aircraft in maritime patrol configuration, plus related integrated logistics support and training services.

Among the bearish performers, ERG, Telecom Italia, Intesa Sanpaolo, Banco BPM and Generali all closed down between 0.6 percent and 0.1 percent.

On the cadet segment, the board of directors of Autogrill - in the green by 1.5% - on Thursday approved the signing, as borrower, of an intercompany, revolving, multi-currency, so-called downstream loan agreement of up to EUR700 million with Dufry Financial Services, an indirect wholly owned subsidiary of Autogrill's controlling shareholder Dufry.

Maire - down 0.2 percent - announced Thursday that it had signed a new EUR40 million loan agreement with BPER Corporate & Investment Banking, assisted for 80 percent of the amount by a guarantee granted by SACE Spa, in order to further strengthen the group's financial structure.

Down was MFE, whose class B shares marked a minus 2.5 percent while A shares gave up 1.0 percent. The company announced Wednesday that its board of directors approved first quarter results in which a consolidated profit of EUR10.1 million was reported from EUR2.7 million in the same period last year.

Consolidated net revenues were EUR646.6 million from EUR654.3 million as of March 31, 2022.

doValue closed at parity. On the stock it is mentioned that Citadel Advisors on Wednesday cut its short to 0.48 percent from 0.55 percent.

On Small-Cap, Tesmec - up 1.5 percent - reported Friday that Cerved Rating Agency, an Italian agency that specializes in assessing the creditworthiness of non-financial companies, confirmed the company's "B1.2" solicited rating assigned to the company.

Trevi Finanziaria Industriale--green by 3.3 percent--reported Thursday that its Trevi and Soilmec divisions won contracts and orders worth a total of EUR216.2 million in the first four months of 2023. Thanks to these acquisitions, the group's order backlog as of April 2023 stands at EUR591 million.

Mondo TV--up 0.2 percent--reported Thursday that it has signed a new license with Sia All Media Latvia, a leading broadcaster operating in the Baltics, for the television broadcast of Agent 203 and Monster Loving Maniacs.

The series were co-produced by Mondo Tv with Toon2Tango, and the license includes the possibility of broadcasting the series for a period of three years.

Among SMEs, Saccheria F.lli Franceschetti closed in the green by 7.3 percent, after announcing on Friday that it had begun the internationalization process with the launch of two new proprietary B2B e-commerce companies for France, Belgium, Spain and Portugal.

Neosperience - down 3.6 percent - reports that a reserved capital increase was approved today, excluding pre-emptive rights and aimed at completing the acquisition of Rhei Srl, already 51 percent owned.

The value of 100 percent of Rhei was quantified at EUR6.3 million and the minimum value of 49 percent thus amounts to approximately EUR3.09 million.

Spindox rose 1.2 percent after it reported Friday that it opened the group's 11th operational headquarters on the outskirts of Salerno, Italy.

In New York on Friday, the Dow closed in the green 1.0% at 33,093.34, the Nasdaq rose 2.2% to 12,975.69 while the S&P 500 finished up 1.3% at 4,205.45.

In Asia, the Nikkei closed up 1.1 percent, the Hang Seng down 0.9 percent while the Shanghai Composite was in the green by 1.2 percent.

Among currencies, the euro changed hands at USD1.0740 against USD1.0703 at Friday's European equities close. In contrast, the pound is worth USD1.2362 from USD1.2330 on Friday evening.

Among commodities, Brent crude is worth USD77.30 per barrel versus USD76.56 per barrel Friday night. Gold, on the other hand, trades at USD1,948.13 an ounce from USD1,941.55 an ounce Friday night.

On Monday's macroeconomic calendar, Italy's non-EU trade balance is due at 1000 CEST.

Among companies listed on Piazza Affari, the results of Allcore, Italia Independent Group, Vantea SMART and Zucchi are expected.

By Chiara Bruschi, Alliance News reporter

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