(Alliance News) - European marketplaces, to which Milan is no exception, trade in a bearish direction in the first weekly session, with Frankfurt alone moving slightly higher, with trading rooms appearing to have taken a breather after last week's robust gains, fueled by rising expectations of interest rate cuts by major central banks in the mid-2024 year.

In addition, traders remained cautious ahead of a substantial wave of data coming in this week, which includes the Eurozone PMI and producer prices.

According to the results of Sentix's latest December Eurozone Investor Confidence Survey released Monday, economic expectations are up 0.2 points for the third consecutive time but the index remains negative 9.8 points. In contrast, the overall Eurozone index rose 3.3 points to minus 16.8 points, the best reading since May. Many economists see the increases in the value of expectations as a sign of a turnaround.

Thus, the FTSE Mib is moving down 0.1 percent to 29,904.82, the Mid-Cap is giving up 0.1 percent to 42,127.25, the Small-Cap is up 0.1 percent to 26,242.07, while Italy Growth is in the green 0.4 percent to 7,967.90.

In Europe, Paris' CAC 40 gives up 0.2 percent, Frankfurt's DAX 40 is in the green by 0.1 percent, while London's FTSE100 is in the red by 0.3 percent.

On the main list of Piazza Affari, boost on Banca Monte dei Paschi, which moves ahead 3.1% with new price at EUR3.24 per share after copntrazione of 1.2% in the previous session.

Nexi, on the other hand, marks a plus 2.0%, heading for its fourth bullish session.

Good buying also on Moncler, which moves ahead 1.2% after two bearish sessions.

Decline for the oil compoarto, with Eni posting minus 1.9% after two sessions among the bullish. The stock also drags down subsidiary Saipem, which marks a minus 1.6%, reversing course after three bullish sessions.

On the six-legged dog is recorded that the company announced Monday that it has signed a new EUR3 billion five-year sustainability-linked revolving credit facility linked to the achievement of two targets in its Sustainability-Linked Financing Framework updated in April.

The new facility will further enhance the company's financial flexibility, complementing the similar EUR6 billion sustainability-linked credit facility signed in 2022.

On the MidCap, OVS pushes ahead by 2.9 percent, in its seventh bullish session.

Piaggio & C. reported Monday that the Vespa brand was valued at EUR1.08 billion, a 19 percent increase over the brand's value obtained in the previous valuation of EUR906 million in 2021. This, the company says, is the result of the study commissioned by the Piaggio Group from global brand consultancy Interbrand on Vespa. The stock is the best on the list, up 3.5 percent to EUR2.80 per share.

Good buys also on Caltagirone, which marks a plus 2.3% after two sessions closed among the bearish.

Technoprobe, on the other hand, gives up 1.7%, with new price at EUR7.65, on the heels of Friday's 1.0% red.

On the SmallCap, Giglio Group is stepping back 3.5 percent, after the 2.7 percent green in Friday night's session.

Backwardation also for Bialetti, which marks a minus 3.4% with price at EUR0.26 after Friday night's flat close.

Boost on Fidia, with the stock appreciating 4.1%, after Friday's decline, albeit by 0.4%.

Brioschi also did well, among the best with a plus 3.6 percent. The stock-which has been missing the ex-dividend since 2019-in verte the course after four sessions closed in the letter.

Among SMEs, finally, H-Farm advances with 8.8 percent to EUR0.1740 following up Friday night's 1.6 percent gain.

Casta Diva, on the other hand, pushes ahead with 7.3 percent, bringing the price to EUR1.48. The stock since the beginning of 2023 marks a market cap increasei of more than 116%.

In the rear, Elsa Solutions gives up 9.1 percent repricing to EUR5.0 per share, lowering its head after four sessions among the bullish.

In New York on Friday, the Dow Jones closed in the green 0.8 percent to 36,245.50, the S&P up 0.6 percent to 4,594.63 as did the Nasdaq at 14,305.03 points.

Among currencies, the euro changes hands at USD1.0872 against USD1.0869 recorded in Friday's European stock close while the pound is worth USD1.2676 from USD1.2675 on Friday evening.

Brent crude is worth USD78.08 per barrel versus USD81.01 per barrel at Friday's close. Gold, on the other hand, trades at USD2,066.54 an ounce from USD2,055.72 an ounce Friday night.

Monday's macroeconomic calendar includes at 1500 CET a speech by ECB President Christine Lagarde.

At 1600 CET, from the U.S., space will be given to durable goods orders, and at 1730 CET there will be an auction of Treasury bills with three- and six-month maturities.

By Maurizio Carta, Alliance News reporter

Comments and questions to redazione@alliancenews.com

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