(Alliance News) - European stock markets show a bullish path ahead of the first session of the week, with only London marking a red stando futures market. Among the bullish drivers, once again are expectations of a less aggressive hike by the Federal Reserve for its February meeting, following slowing inflation in the world's top economy.

In the CME Group platform's FedWatch Tool -- using futures also based on the actual federal funds rate, or EFFR -- the main rate hike for the Feb. 1 meeting sees an increased probability now at 93 percent on the upper range of 450/475 bps. In contrast, the probability of an increase in the 475/500 bps area is at 7 percent. The current target is between 425 and 450 bps.

In corporate news before the bell rang, Webuild reported Monday that U.S. subsidiary Lane was awarded a USD218 million contract to increase capacity and improve mobility and safety at the intersection of Interstate 4 (I-4) and Sand Lake Road (State Road 482) in Orange County, Florida.

The intersection is part of the well-known Orlando tourism corridor that connects some of Central Florida's most important attractions, such as Universal Studios, Sea World, and Walt Disney World.

The FTSE Mib thus advances 47.50 points, after closing Friday up 0.2 percent to 25,783.48.

In Europe, London's FTSE 100 is giving up 4.30 points, Paris' CAC 40 is rising 16.30 points, and Frankfurt's DAX 40 is up 31.00 points.

Among the smaller lists on Friday evening, the Mid-Cap closed up 0.9 percent to 42,035.01, the Small-Cap was up 0.1 percent to 29,240.09, and Italy Growth gave up 0.1 percent to 9,491.65.

On the main list in Piazza Affari, Amplifon rose 2.6 percent, rearing its head after two sessions in the red.

Banks did well, following the IMF report and after the accounts of major statuintensive investment banks. BPM and BPER did best of all, with gains of 3.0% and 3.3%, respectively.

Iveco gained 2.8%. On Wednesday, the company confirmed that Iveco Bus, the group's brand, has signed a three-year framework agreement for the supply of up to 150 E-WAY full electric city buses to Busitalia, the bus company of the FS Italiane Group that operates mainly in local public transport services, directly and through subsidiaries. It will represent, Iveco adds, the largest order of E-WAY city buses to date in Italy.

Among the bearish minority, red for Stellantis, which gave up 3.7 percent.

On the Mid-Cap, Salvatore Ferragamo rose 1.3 percent after Bank of America raised its target price to EUR14.00 from EUR12.00 with an 'underperform' recommendation.

Banca Ifis closed down 0.1 percent after concluding the placement of a EUR300 million senior preferred bond issue under its EMTN program.

The transaction was targeted at institutional investors. Specifically, the issue has a four-year maturity, with an expected settlement date of January 19, 2023. The re-offer price is 99.569 for a yield to maturity of 6.25 percent and a coupon payable annually of 6.125 percent.

Iren gained 1.1 percent after the contracting station Agenzia Territoriale dell'Emilia-Romagna per i Servizi Idrici e Rifiuti - ATERSIR entered into contracts with Iren Ambiente, a subsidiary of Iren, for the concession of the public service concession for waste management in the Parma and Piacenza territorial basins with a duration of 15 years, starting January 1, 2023. The total awarding of the two concessions awarded following public tenders - covers 89 municipalities, with a total auction base amount of EUR1.3 billion. The rebates on the tender base presented by Iren Ambiente will save the territory nearly EUR60 million over the 15 years.

Arnoldo Mondadori Editore fell 0.8 percent after finalizing, through its subsidiary Mondadori Libri, the acquisition of an additional 25 percent stake in ALI - Agenzia Libraria International, active in book distribution. The provisional price, paid entirely in cash, amounts to approximately EUR9.5 million and was determined, as already disclosed to the market, on the basis of the average Ebitda 2021-2022 and the positive net financial position of the perimeter involved in the transaction of EUR17.8 million as of December 31, 2022.

LU-VE - up 1.9 percent - reported on Friday that in 2022, turnover produced as of December 31 reached EUR605m, up more than 25 percent over the twelve months of 2021. On a like-for-like basis, the growth would have been 22 percent. The order backlog as of December 31, 2022 amounted to EUR188.8 million, up 4.8 percent from December 31, 2021. On a like-for-like basis there would have been a decrease of 4.5 percent.

On the Small-Cap, I Grandi Viaggi was up 3.2%, five days after the results were published.

High quarters also for FILA, which rose 1.6 percent. The company reported Thursday that it is continuing its growth path in India, where it began investing in 2012. With more than 350 million children in the age group up to 14 years, a population of nearly 1.4 billion people and more than 3.4 percent of Gross Domestic Product invested in education, India represents one of the most strategic markets for future growth for the FILA group.

Among SMEs, Altea Green Power rose 11 percent at the end of the session, posting one of the best performances on the list.

Omer gave up 0.8 percent after announcing Thursday that it has signed a contract with Knorr-Bremse Rail Systems Italia for the supply of toilet modules. "The supply is part of a larger train construction project managed by the Alstom group, concerning a new rail transport service connecting the main cities and tourist areas of the Yucatan Peninsula in Mexico, called The Mayan train project," the company explained in a note.

The order awarded to Omer involves the supply of toilet modules for 42 trains, with a total contract value of about EUR5 million. Production and delivery activities will begin in the first quarter of 2023, with the overall contract duration currently expected to be about 2 years.

In New York on Friday evening, the Dow closed in the green by 0.3 percent, the Nasdaq up 0.7 percent, and the S&P 500 down 0.4 percent.

Among Asian exchanges, the Nikkei gave up 1.1 percent, the Hang Seng is giving up 0.1 percent, while the Shanghai Composite is rising with 1.0 percent.

Among currencies, the euro changed hands at USD1.0838 versus USD1.0818 at Friday's close. In contrast, the pound is worth USD1.2235 from USD1.2199 on Friday evening.

Among commodities, Brent crude is worth USD84.50 per barrel from USD84.43 per barrel Friday night. Gold, on the other hand, trades at USD1,915.97 an ounce from USD1,911.08 an ounce last night.

On Monday, U.S. markets will be closed for Martin Luther King Day while, on the macro front, from Germany, space is given to wholesale prices, at 0800 CET, three quarters of an hour before the French government's budget data. At 1100 CET, space for the ZEW index on sentiment in the Eurozone and Germany. At 1200 CET, we continue with the Eurozone's total asset reserves.

Among the companies in the Piazza Affari, Take Off will release preliminary data for the past year.

By Maurizio Carta, Alliance News reporter

Comments and questions to redazione@alliancenews.com

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