(Alliance News) - European exchanges are expected to open slightly higher on Monday, following positive trading in Asia and with markets now appearing positioned, for the most part, for a 25 bps Fed hike at the next meeting scheduled for May 3.

"Several really good quarterly reports from U.S. banks have led to speculation that the Federal Reserve could raise rates beyond a single 25 bps hike, something most of the market has long expected for the next meeting in just over two weeks," said Michael Hewson of CMC Markets.

JPMorgan closed up 7.6 percent Friday after reporting higher first-quarter revenue, although it felt the impact of tighter financial conditions. Citigroup rose 4.8 percent, leaving behind a strong quarter for its bond arm and reporting better results despite a "tumultuous environment for banks."

In Asia, the Nikkei has rallied 0.1 percent, the Hang Seng is rallying 1.5 percent, and the Shanghai Composite is in the green by 1.2 percent.

The expectation-always from U.S. banks for this week-will be Goldman Sachs and Bank of America reports coming on Tuesday.

Thus, the FTSE Mib, after having closed down closed in the green by 0.9 percent at 27,872.24 Friday evening, marking an increase of 55.00 points.

Among the smaller listings on Friday evening, the Mid-Cap closed up 0.3 percent to 44,198.99, the Small-Cap up 0.1 percent to 29,942.84, and Italy Growth, on the other hand, closed in the red 0.4 percent to 9,356.55.

In Europe, London's FTSE 100 is up 18.20 points, Frankfurt's DAX 40 is advancing 23.00 points, and Paris' CAC is advancing 13.80 points.

On the main list in Piazza Affari on Friday evening, good session for the banking sector. BPER Bank advanced with 4.7 percent bringing the price to EUR2.51. On the stock it is mentioned that Capital Fund Management on Thursday cut its short to 0.97 percent from 1.00 percent previously.

FinecoBank, on the other hand, advanced 4.5 percent after a 1.7 percent loss on the eve of the day. The stock was previously coming off three bullish sessions in a row. On the stock Marshall Wace raised its short to 0.81 percent from 0.71 percent.

Intesa Sanpaolo, on the other hand, rallied 3.4 percent after a 0.3 percent loss on the eve closing with price at EUR2.4685.

Assicurazioni Generali -- up 0.5 percent -- announced Thursday that it has placed a new Euro-denominated Tier 2 bond maturing April 20, 2033, issued in green format under Generali's sustainability bond framework. The new securities are issued at the same time as Generali's announced cash buyback offer, with the aim of repurchasing an aggregate nominal amount of securities not exceeding EUR500 million.

Among the few bearish performers was Hera, which closed down 2.8 percent, following up Thursday's 1.5 percent red. The stock had previously come from four bullish sessions.

On the cadet segment advanced Intercos, which posted a plus 3.6 percent. The stock pushed during the session to its 52-week high at EUR15.18, then closed at EUR15.10.

The buy side also prevailed well on Salvatore Ferragamo, which posted a plus 2.5 percent echoing Thursday night's gain of 1.6 percent.

Another luxury stock also performed well, with Brunello Cucinelli closing up 2.9 percent on the heels of eve's 1.7 percent green. The company will release its quarterly results next Tuesday.

Among the many stocks on a negative note, Iren left 2.9% on the parterre and reversed a five-session bullish trend.

On the SmallCap, Mondo TV closed ahead 8.8 percent, in its fourth straight session ended on the bullish side.

Good buying also on Ratti, which made the stock appreciate 0.4 percent after a 0.7 percent decline in the previous session.

Giglio Group advanced 3.4 percent. The company on Thursday approved results as of December 31, 2022, reporting a loss of EUR2.1 million, an improvement from a loss of EUR4.6 million in 2021. Revenues, on the other hand, fell to EUR37.3 million from EUR38.8 million in 2021.

Neodecortech, on the other hand, gave up 0.9 percent, bringing its price to EUR3.45, after closing for three sessions in a row on the bullish side.

Civitanavi Systems left 4.9 percent on the parterre. The stock closed with a high trading volume of nearly 71,000, compared to the three-month daily average of about 9,200.

Among SMEs, Fenix Entertainment closed 7.5 percent in the red, subject to profit taking after six straight sessions on the bullish side.

On the bullish side, GM Leather advanced 6.6 percent to EUR1.78. There was a high trading volume of 26,000 pieces traded on the stock compared to the three-month daily average of about 10,800 pieces.

CrowdFundMe also closed on the high quarters, advancing 5.7 percent to EUR2.60 per share. The stock was coming off three sessions closed at a loss.

In New York, the Dow Jones gave up 0.4 percent, the S&P 0.2 percent, while the Nasdaq also gave up 0.4 percent.

Among currencies, the euro changed hands at USD1.0986 versus USD1.1026 at Friday's close. In contrast, the pound is worth USD1.2413 from USD1.2521 on Friday evening.

Among commodities, Brent crude is worth USD86.17 per barrel compared to USD87.31 per barrel Friday night. Gold, on the other hand, trades at USD2,012.69 an ounce from USD2,028.01 an ounce at Thursday's close.

On Monday's economic calendar, on a day poor in macro data, the Italian inflation figure is mentioned, coming in at 1000 CET.

In the afternoon, from the US, at 1430 CET the NY Empire State manufacturing index, while at 1730 CET an auction of 3- and 6-month Treasury bonds is scheduled.

In the corporate calendar of Piazza Affari, there are no particular events scheduled.

By Maurizio Carta, Alliance News reporter

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