(Alliance News) - On Monday, Piazza Affari opens just above parity as expected, while the other European stock exchanges manage to gain more momentum at the opening of trading on a hectic morning on the macroeconomic front with the release of some of the key PMIs from the world's most significant economies and the morning after Joe Biden signed the anti-shutdown bill to keep federal agencies running for another 45 days.
Thus, the FTSE Mib is in the green by 0.1 percent to 28,273.24, the Mid-Cap gains 0.4 percent to 39,827.52, the Small-Cap is in the red by 0.1 percent to 25,779.22, while Italy Growth is down 0.2 percent to 8,307.68.
In Europe, Paris' CAC 40 is in the green by 0.3 percent, Frankfurt's DAX 40 gains 0.4 percent, and London's FTSE 100 is in the green by 0.1 percent.
"Over the weekend, Republicans and Democrats struck a deal, putting off discussions in 45 days before Nov. 17, when we will likely have to witness the same political circus of a possible shitdown. Nevertheless, the fact that U.S. lawmakers have bought time is a relief for European markets, which will open higher this morning," commented Michael Hewson, chief market analyst at CMC Markets.
"It also means that markets can return their focus to economic data and last Friday's core PCE deflator inflation numbers, which showed a further easing of inflationary pressure in August, down to 3.9 percent from 4.3 percent. This is positive news for those who fear that inflation in the United States is proving sticky, with personal spending slowing to 0.4 percent from 0.9 percent."
On the main list in Piazza Affari, Prysmian does better than all and rises 1.5 percent. The company said it has won new orders worth a total of about EUR1.1 billion awarded by 50Hertz, a transmission network operator in Germany.
Assicurazioni Generali -- in the black by 0.6 percent -- announced Monday that Giulio Terzariol will join the group as CEO Insurance, a newly created role with responsibility for all insurance business units, starting in January 2024.
Terzariol will report directly to Group CEO, Philippe Donnet, and will join Assicurazioni Generali's Group Management Committee.
Down goes Eni, down 0.1 percent, despite announcing a major gas discovery made from the Geng North-1 well drilled in the North Ganal license, about 85 km off the east coast of Kalimantan, Indonesia.
Preliminary estimates indicate total volumes of 5 trillion cubic feet of gas-equivalent to about 140 billion cubic meters-with a condensate content of up to about 400 million barrels. The data acquired will allow the study of options for accelerated development.
Oil does poorly, with Tenaris sitting on the bottom giving up 0.3 percent and Saipem losing 0.2 percent.
On the mid-cap, in fashion, Brunello Cucinelli gives up 0.4 percent. On the stock Goldman Sachs gives a 'buy' rating with target price at EUR87.00.
In contrast, Salvatore Ferragamo rises 0.4 percent. Société Générale cut its target price to EUR9.00 from EUR10.00 per share on the stock.
Maire Tecnimont - in the red by 0.1 percent - reported that the public offering of "Senior Unsecured Sustainability-Linked Notes Due October 5, 2028" bonds launched on September 26 was closed early, thanks to strong demand from institutional and retail investors that allowed the maximum amount of EUR200 million to be reached on the third day.
As part of the offering, bonds totaling EUR200 million were subscribed at an issue price of 100 percent of their par value, represented by 200,000 bonds with a par value of EUR1,000 each.
On the Small-Cap, Safilo Group rises 2.2 percent after announcing on Friday that contracts have been signed for the sale of business units related to the Longarone plant to sector companies Thélios and Innovatek.
The closing of the transactions, subject to the fulfillment of conditions precedent, is expected at the end of October.
Cairo Communication - in the green by 1.0 percent - announced that Stefania Bedogni, in view of the termination of her employment with RCS MediaGroup Spa and her consequent exit from the group, has resigned from her position as a board member of the company.
Bioera gives up 1.2 percent after reporting that it closed the first half with revenues of EUR0.0 million compared to EUR400,000 in the first half of 2022.
The net result shows a loss of EUR1.6 million compared to a loss of EUR1.2 million in the first half of 2022; the net result is affected by a EUR900,000 charge resulting from the valuation of the group's stake in Splendor Investments SA, which was put into liquidation after June 30 following the sale of the only asset it held.
Fidia -- up 3.3 percent -- reported Friday that it closed the first half of the year with net revenues of EUR9.0 million, down from EUR9.4 million in the first half of 2022, and a loss of EUR2.1 million, from a profit of EUR8.5 million recorded in the same period of 2022.
Among SMEs, Prismi gave up 7.7 percent after reporting that it closed the first half with a value of production of EUR9.4 million from EUR10.3 million in the same period last year.
Pre-tax loss increased to EUR3.5 million from EUR2.7 million while net loss widened to EUR3.6 million from EUR2.6 million.
Askoll EVA is flat at EUR0.42 per share after announcing on Monday that it had entered into an agreement with "Emissione Zero Procida" for the supply of electric scooters that will be deployed in sharing mode on the island of Procida, where Askoll EVA is landing for the first time.
The models deployed on the island will be Askoll eS2 sharing 2.8s, with the addition of equipment and accessories, for an order value of about EUR65,000.
Riba Mundo Tecnologia rises 1.7 percent, after reporting Friday that it closed the first half of the year with revenues up to EUR183.6 million from EUR121.4 million in the same period last year.
Net income, however, dropped to EUR900,000 from EUR2.3 million in the first half of 2022.
In Asia, the Nikkei gave up 0.3 percent to 31,759.88 as Shanghai and Hong Kong did not open due to a national holiday.
In New York, the Dow closed Friday down 0.5 percent to 33,507.50, the Nasdaq gained 0.1 percent to 13,219.32 and the S&P 500 lost 0.3 percent to 4,288.05.
Among currencies, the euro changed hands at USD1.0584 against USD1.0589 in closing European equities while the pound was instead worth USD1.2218 from USD1.2207 on Friday evening.
Among commodities, Brent crude is worth USD92.48 per barrel from USD95.24 per barrel at Friday's close. Gold, on the other hand, trades at USD1,858.70 an ounce from USD1,860.56 an ounce Friday night.
Monday's macroeconomic calendar - devoid of events from China and Hong Kong, with markets closed for national holidays - features manufacturing PMIs from Italy, France, Germany, the Eurozone and the UK between 0945 CEST and 1030 CEST. In the afternoon, space will also be given to that of the US, at 1600 CEST.
From Spain, unemployment data will also arrive, at 0900 CEST, while the same indicator will be released for the Eurozone two hours later.
Among companies in Piazza Affari, only Juventus Football Club's accounts are expected.
By Claudia Cavaliere, Alliance News reporter
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