(Alliance News) - On Tuesday, the main European stock markets are expected to open higher in a quiet morning from a macroeconomic perspective and despite the consequences of Moody's decision to downgrade the US long-term rating to 'Aa1' from 'Aaa', with the outlook revised to 'stable' from 'negative'.
Thus, IG futures show the FTSE Mib up 0.1% or 20.0 points, after closing down 1.2% at 40,166.77.
The CAC 40 in Paris is expected to be up 0.3% or 23.0 points, the DAX 40 in Frankfurt is expected to rise 0.3% or 69.0 points, while the FTSE 100 in London is expected to rise 0.4% or 32.2 points.
In macroeconomic news, the People's Bank of China cut its benchmark lending rates to new lows in May, in line with market expectations and marking the first reduction since last October.
The move follows broad monetary easing measures announced by Beijing earlier this month, including interest rate cuts and a major cash injection, to support the sluggish economy and cushion the potential fallout from ongoing trade tensions with the US.
The prime rate on one-year loans, the benchmark for most business and household loans, was cut by 10 basis points to 3.0%, while the five-year LPR, which guides mortgage rates, was reduced by the same margin to 3.5%.
Among other Milan indices, on Monday, the Mid-Cap closed down 0.6% at 53,766.29, the Small-Cap fell 0.5% to 30,759.44, while the Italy Growth rose 0.1% to 7,899.05.
Monday was a good day for the banking sector, with Banca Monte dei Paschi closing up 3.9% after three sessions among the losers and with a price of EUR7.49 per share.
BPER Banca also performed well, leading the index with a 4.7% gain. It should be noted that on Friday, Citadel Advisors cut its short position on the stock to 0.49% from 0.55% previously.
Banco BPM rose 3.0%, following Friday evening's 0.3% gain.
Amplifon, down 0.3%, announced on Monday that it intends to launch, as part of a EUR 150 million buyback program, a first tranche of repurchases for a total of EUR 100 million and a maximum of 21.4 million shares.
STMicroelectronics - down 1.1% - announced on Monday that it had acquired 319,000 ordinary shares between May 12 and 16 for a total value of EUR 7.3 million.
Moncler - also among the losers - fell 2.2% on profit-taking after six sessions closed with a bullish candlestick.
On the Mid-Cap, Banca Ifis advanced, up 5.6%. The board of illimity Bank unanimously approved the press release regarding the valuation of the voluntary public purchase and exchange offer launched by Banca Ifis on all illimity shares. The consideration offered consists of 0.10 newly issued Banca Ifis shares and EUR1.414 for each illimity share, which will be adjusted to EUR1.506 after the 2024 dividend is paid.
Lottomatica gained 4.1% with the promotion of the stock by analysts at Barclays and Goldman. The British bank raised its target price for Lottomatica Group to EUR26.00 from EUR20.00, while Goldman raised it to EUR24.20 from EUR22.50 with a 'buy' recommendation.
Webuild advanced 3.8%, after falling 1.2% in the previous session.
Acea, on the other hand, was up 1.7%. It should be noted that on Friday, the company announced that Moody's had confirmed Acea's Long-Term Issuer Rating at 'Baa2' and its Baseline Credit Assessment at 'baa2', maintaining a stable outlook. The provisional "(P)Baa2" senior unsecured rating on the EUR5 billion EMTN program and the "Baa2" senior unsecured rating on the related bond issues were also confirmed.
Among the many losers, Juventus FC was subject to profit-taking after five bullish sessions, with the Bianconeri in the running for a Champions League spot with one game left in the season. The stock closed down 4.2%.
In the small cap segment, Somec advanced 4.0% after two sessions of declines, with a price of EUR 13.10 per share.
Neodecortech also performed well, after two bearish sessions, closing up 6.3%.
Tinexta - down 0.3% - announced on Monday that its subsidiary Tinexta Innovation Hub Spa had sent a notice to ABF Holding, a company whose share capital is held by the three founding partners, exercising a call option on 25% of the share capital of ABF Group.
BasicNet - down 1.8% - is continuing its buyback plan as planned. The company announced on Monday that it had acquired 36,500 ordinary shares between May 12 and 16, for a total value of EUR304,338.91.
Esprinet - down 0.6% - announced on Monday that its subsidiary V-Valley had signed a partnership agreement with Rubrik. Rubrik is an American company specializing in cloud data management, protection, and security and a leader in the Enterprise Backup and Recovery Software Solutions sector.
Among SMEs, CleanBnB closed up 8.5%, bringing the price to EUR1.28 per share.
The board of DBA Group, up 5.4%, on Monday approved the sale of 70% of the share capital held, directly and indirectly, in Actual IT dd to Telelink Business Services Group AD, based in Sofia, Bulgaria. The price is based on an enterprise value of approximately EUR 15.8 million for 70%, equivalent to a total valuation of the company of EUR 22.5 million.
AATech - down 3.5% - announced on Monday that it had signed binding agreements for the acquisition, subject to specific conditions precedent, of 90.66% of the share capital of Business Innovation Lab for a total consideration of EUR 18.1 million. The transaction is expected to close by the third quarter of 2025.
Adventure, on the other hand, fell 3.7%, bringing the price to around EUR19.65 per share.
In New York, during the European night, the Dow closed up 0.3% at 42,792.07, while the Nasdaq closed fractionally higher at 19,215.46 and the S&P 500 closed up 0.1% at 5,963.60.
Among Asian markets, the Hang Seng is gaining 1.3% at 23,644.72, the Shanghai Composite is up 0.4% at 3,380.21, while the Nikkei is up 0.1% at 37,545.73.
Among currencies, the euro is trading at USD 1.1255 from USD 1.1252 on Monday evening, while the pound is trading at USD 1.3372 from USD 1.3366 on Monday evening.
Among commodities, Brent crude traded at USD 65.33 per barrel from USD 65.42 per barrel on Monday evening, while gold traded at USD 3,212.69 per ounce from USD 3,233.52 on Monday evening.
On Tuesday's macroeconomic calendar, at 1000 CEST, the Eurozone current account balance will be published, followed an hour later by construction output.
In the afternoon, starting at 3:00 p.m. CEST, Barkin and Bostic of the Federal Reserve will deliver speeches, while at 10:30 p.m. CEST, the weekly oil inventory report will be released.
On the corporate calendar in Piazza Affari, Allcore, Eles, Emma Villas, Monnalisa, Solutions Capital Management SIM, and Talea Group are set to report their results.
By Claudia Cavaliere, Alliance News reporter
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