(Alliance News) - On Monday, major European indexes are headed for a slightly down opening, according to IG futures, after surging late in the week in the wake of Thursday's ECB rate meeting, while Christine Lagarde's press conference message continued to be digested, along with further attempts by China to stimulate its slowing economy with further interest rate cuts.

The FTSE Mib is therefore expected to fall 50.6 points or 0.2 percent after finishing in the green by 0.7 percent at 30,379.33.

In Europe, London's FTSE 100 is expected to open in the red by 6.9 points or 0.1 percent, Paris' CAC 40 is expected down 11.0 points or 0.2 percent while Frankfurt's DAX 40 is expected to fall 46.0 points or 0.3 percent.

"Given the good finish seen at the end of last week," comments Michael Hewson Chief Market Analyst at CMC Markets, "markets in Europe look set to open the new week reasonably cautiously, with tensions coming as early as tomorrow when the ECB first sees the latest first-quarter GDP data from Germany, France, Italy, Spain and the EU, and with January flash CPI data later in the week.

"Later this week, the ECB could find itself in the position of trying to justify not cutting rates at a time when the bloc is in a technical recession, increasing pressure for an early rate cut as early as April."

On the international front, a Hong Kong court on Monday ordered the liquidation of Chinese builder Evergrande, dealing another blow to the company that has become the symbol of an economy-wide property crisis.

High Court Judge Linda Chan's decision effectively launches a lengthy process that includes the liquidation of the company's assets--which has USD300 billion in liabilities--and the replacement of its management to assuage the concerns of its creditors.

Among Italy's smaller listings on Friday evening, the Mid-Cap closed up 0.3 percent to 45,498.60, the Small-Cap up 0.4 percent to 27,842.68 while Italy Growth finished in the fractional red at 8,298.63.

In Piazza Affari, on the Mib, the fashion sector took the top spots, with Moncler closing up 9.6 percent and Brunello Cucinelli in the green by 6.3 percent. This was followed by Campari, in the green by 5.5 percent.

At the other end of the list, Banca Monte dei Paschi di Siena ended at the bottom and gave up 3.3 percent.

Also hurting is STMicroelectronics -- in the red by 2.7 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, closed in the green by 0.4 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 from 2022 and wholesale sales down 12 percent on the previous year.

Better did only GVS, up 8.3 percent.

De' Longhi--on the bottom with a 4.4 percent decline--reported preliminary revenues in the first twelve months of 2023 of EUR3.1 billion, down slightly by 2.7 percent from the same period a year earlier. 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 closed on top with a rise of 7.9 percent after 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.

Trevi Finanziaria Industriale followed, up 6.7 percent, while Antares Vision closed the podium by advancing 5.9 percent.

The board of directors of Aeffe -- up 1.0% -- on Thursday approved preliminary figures for fiscal year 2023 sales, which closed with consolidated revenues of EUR319 million, compared to EUR352 million in 2022, a decrease of 9.0% at constant exchange rates and 9.5% at current exchange rates.

Among SMEs, Xenia Hotellerie Solution closed up 0.7 percent after announcing Thursday that its board of directors viewed the preliminary figures for the year ended Dec. 31 reporting full-year revenues up nearly 11 percent to EUR50.2 million from EUR45.4 million in 2022.

Marzocchi Pumps -- in the red by 1.0 percent -- reported Thursday that during the 2023 fiscal year, 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 0.8 percent to 36,026.94, the Hang Seng was up 0.7 percent to 16,052.00 and the Shanghai Composite closed in the red 0.9 percent to 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 USD1.0844 against USD1.0862 recorded at Friday's European stock close, while the pound was worth USD1.2713 from USD1.2716 on Friday evening.

Brent crude is worth USD83.80 per barrel versus USD81.96 per barrel at Friday's close. Gold, on the other hand, trades at USD2,031.07 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

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