(Alliance News) - Major European stock exchanges are expected to open lower Monday, with Piazza Affari the tail end, according to IG futures, after a turbulent weekend over the crisis at Credit Suisse, whose takeover by UBS for CHF3.00 billion was announced Sunday.

"The next few hours of trading will give us a better picture on the containment of the crisis. Theoretically, there is no reason for the Credit Suisse crisis to be prolonged, as it was a crisis of confidence-which is not about UBS-that triggered the latest shakeout for Credit Suisse-a bank outside the turmoil, with, moreover, ample liquidity and a guarantee from the SNB and the government," commented Ipek Ozkardeskaya, Senior Analyst at Swissquote Bank.

"So, if all goes well, the shaky days among banks will soon be behind us and investors may focus on the Federal Reserve's decision," the analyst added, following the ECB's announcement last week about raising its benchmark rates by another 50 basis points.

"Fed funds futures activity offers about a 60 percent chance for a 25 basis point increase this Wednesday. The March dot plot and Powell's accompanying statement will be as important as the rate decision," the analyst concluded.

Thus, for the FTSE Mib, it is given in the red by 365.0 points or 1.5 percent after closing down 1.6 percent at 25,494.54.

In Europe, London's FTSE 100 is expected to open down 98.3 points or 1.3 percent, Paris' CAC 40 is expected down 73.3 points or 1.1 percent while Frankfurt's DAX 40 is given down 150.5 points or 1.0 percent.

Among the smaller listings on Friday, the Mid-Cap gave up 1.9 percent to 41,559.58, the Small-Cap finished in the red 0.1 percent to 29,498.23 and Italy Growth lost 0.2 percent to 9,195.26.

On the Mib, only Saipem - up 1.7 percent -, STMicroelectronics, up 0.4 percent, and A2A, in fractional green after sharing its 2022 accounts, with revenues up to EUR23.17 billion, double the EUR11.55 billion a year earlier. Ebitda and Ebit were also up, while the board confirmed the dividend, with a coupon of EUR0.0904 per share.

In addition, A2A announced Thursday that a non-binding offer has been formalized by the company to enter the share capital of EGEA Ente Gestione e Ambiente with an absolute majority stake of 50.1 percent through a capital increase transaction.

The indicative enterprise value range currently envisaged for 100% of the assets is between EUR560 million and EUR605 million, to be possibly confirmed with a binding offer by May 15, in case of a positive outcome of the due diligence to be launched in the coming days.

Eni - trading at EUR12.16 - announced on Friday a new discovery in the Upper Miocene sequences of the exploration prospect called Yatzil, located in the mid-depth waters of Block 7 in the Sureste Basin in offshore Mexico.

According to preliminary estimates, the find may contain about 200 million barrels of oil equivalent in place.

Banks continue to suffer with FinecoBank in the red by 4.1%, UniCredit, BPER Banca, Banca Mediolanum, and Banca Generali all down between 3.6% and 2.8%.

Also hurting were Telecom Italia, Italgas, and Leonardo, which closed 4.1 percent, 3.5 percent, and 2.9 percent in the red. The worst was Iveco Group, which ended the day with minus 4.3%.

On the Mid-Cap, Rai Way - down 0.2% - reported Thursday that as of December 31, 2022, core revenues were EUR245.4 million, up 6.7% from EUR229.9 million in fiscal 2021, partly due to indexing to inflation.

Revenues attributable to RAI, at EUR210.5 million, benefit from the increase related to refarming activities - effective from the second half of 2021 - as well as a one-time contribution of EUR2.0 million. Revenues from third-party customers stood at EUR34.9 million, up 14 percent thanks to the contribution of new regional digital terrestrial networks.

Webuild was confirmed at the top with 7.4 percent, following the return to the government's table of the bridge over the Strait of Messina and following Thursday's approval of its consolidated financial statements and draft operating budget to Dec. 31, 2022. The company reported an adjusted net profit of EUR118.0 million, improving from a loss of EUR56 million in 2021. The board also decided to propose a unit dividend of EUR0.057.

In addition, the strategic directions for the next three years, Webuild explains, will enable the group to achieve revenues between EUR10.5-11.0 billion in 2025, Ebitda between EUR990 million and EUR1.05 billion, and a solid financial structure with net cash position.

The worst stock was El.En., which finished 8.8 percent in the red after approving its consolidated financial statements as of December 31, 2022, which closed with a consolidated net income of EUR55.1 million compared to EUR45.4 million in 2021. The board proposed the distribution of a dividend of EUR0.22 per share.

On the Small-Cap, Newlat Food closed up 5.6 percent after approving on Friday its draft financial statements for the year ended Dec. 31, 2022, having reported record consolidated revenues of EUR741.1 million in the period, an improvement of more than 18 percent from EUR625.2 million in the same period last year.

Consolidated revenues as of Feb. 28, 2023 were EUR126.7 million, up 23 percent from the previous year.

Better did only Mondo TV, up 9.1 percent.

The board of directors of Centrale del Latte del'Italia-which finished in the red by 3.3 percent-on Friday approved the financial statements for fiscal year 2022, which closed with an operating profit of EUR154,000 from EUR2.3 million the previous year.

Revenues were EUR309 million from EUR283.4 million in the previous year.

Bioera closed in the green with 1.1 percent after announcing Thursday that the auction of in-options related to the company's capital increase has ended.

310,150 rights were sold to subscribe for 4.7 million new ordinary shares of Bioera, representing 9.7 percent of the company's 48.2 million shares, for a total amount of EUR9.6 million.

Among SMEs, Matica Fintec - in the red by 1.2 percent - reported Friday that it ended 2022 with growing revenues and profits and a cash position that was unaffected by the acquisitions of two companies from Japan's AI Holdings Corp and U.S.-based UBIQ.

Revenues stood at EUR19.5 million. Considering Matica Fintec standalone, revenues stood at EUR17.5 million, benefiting from solid organic growth of just over 20 percent from EUR14.5 million as of Dec. 31, 2021.

MeglioThis rallied 0.9 percent after reporting that its board resolved to establish a Finance Committee, with the aim of strengthening the oversight of the group Finance function as well as the integration of ESG criteria into business strategies.

At the top was Finanza.tech, which marked a 10 percent rise, followed by Deodato.Gallery, up 9.5 percent.

In New York, the Dow closed down 1.2 percent at 31,861.98, the Nasdaq gave up 0.7 percent to 11,630.51 while the S&P 500 closed 1.1 percent in the red at 3,916.64.

In Asia, the Nikkei closed down 1.4 percent to 27,945.67, the Hang Seng was down 3.0 percent to 18,929.56, while the Shanghai Composite dropped 0.5 percent to 3,234.91

Among currencies, the euro changed hands at USD1.0667 against USD1.0667 at Friday's close. In contrast, the pound is worth USD1.2192 from USD1.2169 on Friday evening.

Among commodities, Brent crude is worth USD70.70 per barrel versus USD73.50 per barrel Friday night. Gold, on the other hand, trades at USD2,004.84 an ounce from USD1,959.47 an ounce at Friday's close.

On Monday's economic calendar, the EU trade balance for January is due at 1100 CET.

In the afternoon, French BTF auctions are scheduled at 1500 CET and US Treasury bond auctions at 1630 CET.

In Piazza Affari, the results of Mondo TV Suisse, Portobello, SOFTEC and Tecma Solutions are expected.

By Chiara Bruschi, Alliance News reporter

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