(Alliance News) - The major European stock markets open almost all up on Monday, meeting forecasts with London the tail end, just below par, while S&P Global just reported that in Italy and the Eurozone the construction sector remained in contraction territory in February.

Thus, the FTSE Mib, rises 0.6 percent to 27,980.48, the Mid-Cap rises 0.3 percent to 45,127.60, the Small-Cap advances 0.1 percent to 30,596.90, while Italy Growth rises 0.6 percent to 9,489.92.

In Europe, London's FTSE 100 is in the fractional red, Paris' CAC 40 advances with 0.5 percent, while Frankfurt's DAX 40 is bullish with 0.2 percent.

Overseas, traders are looking to the Fed's next moves on inflation and signals coming from the macros expected this week.

"Aside from Chairman Powell's comments in a two-day testimony to Congress," comments Richard Hunter, Head of Markets at interactive investor, "Friday looms on the deadline for the latest nonfarm payrolls report. Last month's report shocked investors with a stunning addition of 517,000 jobs and a further reduction in the unemployment rate, suggesting that the labor market is beginning to show signs of immunity from the upward cycle. However, expectations for February are more modest, with consensus for the addition of 225,000 jobs, while investors will also keep an eye on any revisions to the previous outstanding reading."

On the main list, Telecom Italia starts at the top with 3.0 percent, boosted by the announcement on Sunday that Cassa Depositi e Prestiti and Macquarie have also submitted their bid for TIM's network. According to rumors in the Italian press, CDP and Macquarie's bid is expected to be equal in size to KKR's EUR20 billion bid, but is expected to offer more cash--between EUR1.5 billion and EUR2 billion--than that of the U.S. fund.

Nexi advances 0.9 percent after reporting Friday that it purchased 245,000 of its own ordinary shares between Feb. 22 and March 2 at an average price of EUR7.5613 per share, for a total consideration of EUR1.9 million.

Leonardo . up 0.1 percent - announced Friday that it has received orders for six AW139 twin-engine helicopters in Australia.

Prysmian - which opens up 1.2 percent - announced Friday that it had won two orders worth a total of about EUR1.8 billion awarded by Dutch transmission system operator Tennet for two projects that will connect two future offshore wind farms located in the Dutch part of the North Sea to the province of Zeeland, located in the southwestern part of the Netherlands.

Infrastrutture Wireless Italiane--which is among the worst performers and opens down 0.8 percent--on Thursday reviewed and approved its financial statements for the year ended Dec. 31, 2022, reporting a net profit of EUR293.3 million, up 53 percent from EUR191.4 million in the same period last year.

The board also proposed a dividend of EUR0.3467 from EUR0.3235 in 2021, up 7.5 percent.

On the cadet list, Anima Holding--in the red by 0.2%--reported Monday that net inflows from assets under management in February 2023 were positive EUR383 million, with a negative asset management component of EUR90 million and one related to class I insurance proxies positive EUR373 million.

At the end of February, the group's total assets under management, therefore, stood at more than EUR180 billion.

Fincantieri starts in the red by 1.6 percent and is at the bottom. On Friday it let it be known that, through its subsidiary Vard, it signed a contract worth about EUR250 million with a new customer, Edda Wind, for the construction of four Commissioning service operation vessels - CSOVs.

On the other end is Piaggio, up 2.5 percent.

Salvatore Ferragamo opens in the green by 0.4 percent after Thursday's approval of its operating budget for 2022, in which it reported net income at EUR65 million, down crica 20 percent from EUR81 million as of Dec. 31, 2021.

The board of directors proposed a dividend of EUR0.28 cents from EUR0.34 cents in 2021.

On Small-Cap, SS Lazio - up 1.4 percent - chose NVP, which on Italy Growth does not yet trade, for a strategic agreement until the end of 2028.

NVP will be the exclusive partner for the management of the soccer club's new media company, the digital entertainment services "Lazio Style Radio" and "Lazio Style Channel" broadcast on SKY channel 233 in SVOD mode, as well as the management of web and social channels and the creation of the new OTT platform.

Greenthesis retreats 1.1 percent after announcing Thursday that it has signed a memorandum of understanding with Sharaf Investment LLC, the latter belonging to the Sharaf Group, one of the largest and most diversified conglomerates operating in the United Arab Emirates.

The agreement deals with understandings between the parties for Greenthesis to acquire a 20 percent stake in the Emirati-registered Green Future Battery Recycle LLC, a special purpose company now wholly owned by Sharaf Investment LLC itself and holding a permit to build and operate a new plant, the first in the Emirates, for the treatment and recovery of used lead-acid batteries derived mainly from the automotive sector.

At the top is Eukedos, which advances with 5.7 percent.

Among SMEs, Innovatec opens in the red by 1.5 percent after announcing Friday that it has reviewed its preliminary operating and financial results for fiscal year 2022, reporting revenues as of Dec. 31 of EUR288.7 million from EUR237.8 million in the same period last year, up 21 percent.

Ebitda stood at EUR32.0 million from EUR32.9 million as of Dec. 31, 2021, broadly in line.

Finlogic--up 0.4 percent--reported Friday that conditions related to the takeover bid that Credem Private Equity SGR will launch to take over the entire capital of Finlogic have come true.

The other conditions precedent related to the launch of the takeover bid have also been fulfilled and, therefore, it will be possible to proceed with the transaction, which involves the purchase - by Credem - of Finlogic shares at EUR12.00 each.

Finanza.tech still does not trade. The company announced Monday that it has entered into agreements with two leading large corporations on the national scene aimed at their purchase of tax credits from the 110% Superbonus for a total amount of EUR425 million for the years 2023-2026.

Racing Force rises 1.3 percent. On Friday it announced the launch, in partnership with Bahrain International Circuit, of the expansion project for the headquarters of its subsidiary Racing Force International in Sakhir, Bahrain, functional to meet the growing demand for Bell Racing helmets in the global motorsport market.

TMP Group -- which does not yet trade -- reported Friday that Banca Profilo -- in the green by 0.9 percent on the Small-Cap -- exercised its greenshoe option for 21,200 new shares in the company, thus closing the stabilization period.

The purchase price of the shares covered by the greenshoe option is EUR10 per share, which is equal to the price set as part of the offer, for a total value of EUR388,000.

Fenix Entertainment opens with a theoretical decline of 30 percent.

Among Asian exchanges, the Hang Seng rose 0.2 percent, the Nikkei picked up 1.1 percent, and the Shanghai Composite gave up 0.2 percent.

In New York on Friday, the Dow closed in the green 1.2 percent to 22,390.97, the Nasdaq gained 2.0 percent to 11,689.01 while the S&P 500 finished in the green 1.6 percent to 4,045.64.

Among currencies, the euro changed hands at USD1.0647 versus USD1.0599 at Friday's close. In contrast, the pound is worth USD1.2032 from USD1.1974 on Friday evening.

Among commodities, Brent crude is worth USD85.40 per barrel versus USD85.14 per barrel Friday night. Gold, meanwhile, trades at USD1,853.49 an ounce from USD1,850.90 an ounce at Friday's close.

On Monday's calendar, at 1030 CET, the S&P Construction Sector Index for the United Kingdom will be released.

At 1100 CET, industrial sales data for the Eurozone will arrive.

Overseas, at 1600 CET, data on durable goods excluding defense and transportation equipment will be published.

Among the companies listed on Piazza Affari, results from Nexi and Health Italia are expected.

By Chiara Bruschi, Alliance News reporter

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