(Alliance News) - Piazza Affari is expected to make a broadly flat start Tuesday on another day not particularly packed with macroeconomic and corporate events, with traders awaiting the next moves by major central banks.

The FTSE Mib is given down 12.5 points, less than 0.1 percent, after falling 0.2 percent to 28,608.54 at Monday's close.

In Europe, London's FTSE 100 is given down 4.0 points or less than 0.1 percent, Paris's CAC 40 is expected to be flat as is Frankfurt's DAX 40.

In Milan last night, the Mid-Cap gave up 1.3 percent to 42,216.10, the Small-Cap lost 0.3 percent to 26,538.58 while the Italy Growth closed down 0.4 percent to 9,046.83.

On the main list of the Italian Stock Exchange, Leonardo advanced well, rising 2.5 percent after closing just below par on Friday evening. The stock had previously come from five sessions closed among the bullish.

CNH Industrial also advanced 2.5 percent to EUR13.59 per share after two sessions ended among the bearish.

BPER Banca, on the other hand, rose 1.9 percent, rearing its head again after falling 0.8 percent on Friday evening.

Also among the best was Banco BPM, which rose 2.0 percent after it signed a binding agreement with Gruppo BCC Iccrea and FSI on Friday to form a strategic partnership aimed at developing a new Italian and independent company in the digital payments sector. The new company "will be a point of reference in the fintech landscape and with an approach oriented to innovation and the growth of digitization in our country," the joint note reads.

Following the contribution of Banco BPM's e-money activities, the joint venture will represent the second largest domestic player with a market share of more than 10 percent in the e-money sector, with about 9 million cards, 400,000 POS and about EUR110 billion in intermediated transactions.

On a negative note, Moncler gave up 2.9 percent with new price at EUR63.08, after 0.2 percent loss in the previous session.

Rear-ends also for Interpump, down 2.2%, in its third bearish session.

On the Mid-Cap, Cembre rose 1.7%, with new price at EUR30.80 per share, on the heels of Friday's gain when it picked up a plus 2.7%. Of note, Berenberg initiated coverage on the stock with a target price of EUR40.00.

Seco, on the other hand, picked up 3.4 percent to EUR4.78. On this stock Berenberg cut its target price to EUR8.00 from EUR10.00 with a 'buy' recommendation.

In contrast, Banca Popolare di Sondrio stock advanced 2.2 percent, positioning itself for its fifth session to close higher.

Salvatore Ferragamo closed down 1.0%, after a 0.9% gain on Friday evening, with new price at EUR14.65.

At the back end, Eurogroup Laminations gave up more than 13%, making it the worst on the list. JPMorgan Asset Management initiated a 0.5% short position on the stock.

On the Small-Cap segment, Sabaf Group closed up 4.3 percent after it, through its subsidiary Sabaf America, signed a contract on Friday to purchase 51 percent of Mansfield Engineered Components, a leading North American manufacturer of hinges for home appliances, designed and manufactured to meet the high quality and exacting standards demanded by the U.S. market. The agreements reached provide for a valuation of MEC of USD21 million. The payment of the price for the acquisition of 51 percent of the share capital, amounting to EUR10.5 million, was made in a lump sum.

Restart, on the other hand, ticked up 4.4 percent, following up the 4.6 percent rise in the previous session and placing the price at EUR0.2150.

Bialetti Industrie rallied 1.4 percent, bringing the price to EUR0.2910.

Among SMEs, boost on Casta Diva Group, up 5.6 percent in its third session on the bullish side.

Eles rose 6.6 percent, with new price at EUR1.95 and rearing its head after three sessions in the red.

Svas Biosana - flat at EUR7.58 - finalized the issuance of two bonds totaling EUR13 million. The two bonds, non-convertible and non-subordinated, are instrumental in supporting the group's investment plan and were underwritten by Crédit Agricole Italia, in the role of anchor investor, Iccrea Banca, Banca di Credito Popolare and Finest.

Specifically, the transaction for a total of EUR13 million involved the issuance of two bonds, by the parent company Svas Biosana for EUR10 million and by the subsidiary Mark Medical for EUR3 million, both maturing on December 31, 2029, totally unsecured.

Italia Independent, on the other hand, gave up 4.7 percent, following Friday night's 3.0 percent decline.

Behind - among many - also for Farmacosmo, down 8.7 percent with new price at EUR1.05.

In Asia, with Tokyo and Hong Kong markets reopening, the Nikkei rises 0.3% to 32,480.45, the Shanghai Composite falls 0.2% to 3,202.66, and the Hang Seng loses 2.0% to 19,019.93.

In New York, the Dow Jones closed up 0.2% at 34,585.35 Monday, the Nasdaq rose 0.9% to 14,244.95 while the S&P 500 gained 0.4% to 4,522.79.

Among currencies, the euro changed hands at USD1.1249 against USD1.1236 in Monday's European equities close while the pound was instead worth USD1.3086 from USD1.3082 last night.

Among commodities, in a bearish trend, Brent crude is worth USD78.67 per barrel versus USD78.90 per barrel at Monday's close. Gold, meanwhile, trades at USD1,960.71 an ounce from USD1,954.17 an ounce on Monday evening.

On Tuesday's macroeconomic calendar, which is poor in major economic events, at 1430 CEST, US retail sales are expected along with Canada's inflation.

At 1515 CEST, it will be the turn of U.S. industrial and manufacturing production while, at 2230 CEST, data on weekly U.S. oil inventories will be released.

Among the companies listed on Piazza Affari, Sesa's results are expected.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.