(Alliance News) - European stock markets opened trading in the green on Monday, with a reversal underway that currently sees only London on bullish tracks. Traders are closely monitoring the latest developments in the Middle East conflict, their potential impact on global oil prices and inflation prospects.

In an interview with '60 Minutes' on CBS', Biden said an Israeli occupation of Gaza would be "a big mistake." According to the U.S. president, the Hamas attack was a "barbarity as bad as the Holocaust," and Israel has the right to respond to totally eliminate the Islamist group, but then seek a path to a Palestinian state.

Meanwhile, among European macros, investors welcomed data showing that German wholesale prices fell 4.1 percent year-on-year in September, marking the sixth consecutive month of decline and the largest rate since May 2020.

The FTSE Mib, therefore, marks a 0.2 percent rise to 28,389 points.

In Europe, London's FTSE 100 rises 28.00 points, Paris' CAC 40 advances 16.30 points while Frankfurt's DAX 40 marks a gain of 33.00 points.

Among the smaller lists on Friday, the Mid-Cap is giving up 0.2 percent to 38,754.73, the Small-Cap is in the red 0.2 percent to 25,219.02, while Italy Growth is flexing 0.2 percent to 7,994.28.

On the main list of the Italian Stock Exchange, Telecom Italia is advancing 2.1 percent with price at EUR0.27.

Telecom Italia announced earlier that it has received the binding offer from KKR for the network. The offer-which, according to rumors, amounts to EUR23 billion-expires on November 8, the day when TIM's board will meet to approve the nine-month accounts and will have to give an answer to the American fund. However, the deadline can be extended to December 20.

Good bullish cue also on ERG, which moves ahead 1.5 percent. To be sgenal that the board of directors resolved Thursday to start a share buyback program for a maximum of about 3.7 million shares, or 2.5 percent of the share capital, with a maximum outlay of EUR100.0 million.

Leonardo, on the other hand, marks a plus 1.2 percent, after a 2.5 percent decline in the previous session.

Among the few bearish performers, Banca Monte dei Paschi is instead giving up 0.6 percent, reversing course after four bullish sessions.

Rear-ends also for Inwit, down 0.3 percent in the wake of Friday's 1.2 percent loss.

On the cadet segment, Antares Vision advances 1.4 percent. It is worth noting that the stock is posting a liability on a weekly basis of 9.7%, while on a monthly basis the liability is more than 44%.

Good buying also on Banca Ifis, which marks a plus 1.4 percent, rearing its head again after two sessions ended among the bearish.

At the back of the pack, Industrie de Nora gives up 1.1 percent, following up on the 2.3 percent drop recorded Friday evening.

Raiway, on the other hand, gives up 1.0%, following the 0.3% green in the previous session.

On the SmallCap, Aquafil is giving up 4.2% to EUR2.15, hitting its 52-week low.

Triboo, on the other hand, gives up 4.1% to EUR0.70, breaking its four-session mini bullish trend.

Fidia, on the other hand, advances 7.6 percent, bringing its new price to EUR1.27 per share. The stock - which has not detached its dividend since 2017 - closed last session down 1.7 percent.

Purchases also on I Grandi Viaggi, which trades with a positive balance of 5.8%, after a 1.3% passsivo in the previous session.

Among SMEs, however, tail of the list for Ambromobiliare, which trades minus 4.1 percent after Friday's 4.9 percent green.

Alfonsino gives up 3.8 percent, bringing the price down to EUR0.70.

Among the bullish, in a still uneventful list, Intred is advancing 4.0% with new price at EUR10.45 per share, after Friday night's 4.3% decline after two sessions closed among the bullish.

In New York on Friday night, the Dow rallied 0.1 percent, the Nasdaq gave up 1.2 percent, and the S&P 500 left 0.5 percent on the parterre.

Among Asian exchanges, the Hang Seng is down 0.9 percent, the Shanghai Composite is giving up 0.4 percent, while the Nikkei closed down 2.0 percent.

Among currencies, the euro changes hands at USD1.0528 against USD1.0501 recorded in Friday's European stock close, while the pound is worth USD1.2171 from USD1.2134 on Friday evening.

Among commodities, Brent crude is worth USD90.54 per barrel from USD89.68 per barrel at Friday's close. Gold, meanwhile, trades at USD1,910.35 an ounce from USD1,921.41 an ounce on Thursday evening.

Monday's macroeconomic calendar, at 1000 CEST, incoming inflation from Italy. At 1100 CEST, it will be the turn of the Eurozone trade balance.

At 1730 CEST, in the US, an auction of three- and six-month Treasury bonds is scheduled while, at 2230 CEST, a speech by FOMC member Harker is scheduled.

On the corporate calendar in the Piazza Affari, no particular announcements are scheduled.

By Maurizio Carta, Alliance News reporter

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