(Alliance News) - The Mib Index is up mid-day Monday - around the 25,300 mark - moving to the highest since the end of last March, with market sentiment supported by optimism about the "reopening" of the Chinese economy and hopes for less tightening by the U.S. Federal Reserve.

On the possible path of the Federal Reserve, in the CME Group platform's FedWatch Tool -- using futures also based on the actual federal funds rate, or EFFR -- the main rate hike for the Feb. 1 meeting has a probability priced at 75 percent on the upper range of 450/475 bps. In contrast, the probability of an increase in the 475/500 bps area is at 25 percent.

Among the day's macro news, the unemployment rate in November remains stable at 7.8 percent, according to Istat's provisional estimate of employed and unemployed, while it was revised to 7.9 percent in October.

The euro area unemployment rate, meanwhile, stood at 6.5 percent in November, unchanged from the previous month's low and down from 7.1 percent in the same month last year. The data were released Monday by Eurostat. The youth unemployment rate -- which measures job seekers under 25 years old -- rose to 15.1 percent in November from 15.0 percent in the previous month.

Thus, the FTSE Mib is rising 0.6 percent to 25,326.75.

In Europe, Paris' CAC 40 is moving up 0.1 percent, while London's FTSE 100 is moving just below par. Frankfurt's DAX 40, meanwhile, is advancing 0.3 percent.

Among Italy's smaller listings, the Mid-Cap is in the green 1.6 percent to 41,502.57, the Small-Cap is up 1.0 percent to 28,717.60, while Italy Growth marks a 0.1 percent gain to 9,422.47.

On the main list in Piazza Affari, good buying on Ferrari, which moves ahead 3.3%. On the stock it is reported that Citigroup has raised the target price to EUR216.00 from EUR250.00.

Telecom Italia, on the other hand, rises 3.9%, heading for its sixth session in a row to end higher.

Banca Mediolanum Spa - up 1.4 percent - on Monday reported December trading results of EUR1.70 billion. Total net inflows amounted to EUR1.25 billion. Net inflows in assets under management amounted to EUR710 million, while new loans disbursed amounted to EUR430 million.

Among the few bearish performers, ERG gives up 1.9 percent. Morgan Stanley cut its target price on the stock to EUR29.00 from EUR31.00.

Generali, on the other hand, gives up 1.8 percent, veering lower after five sessions ended on the bullish side.

On the cadet segment, BFF Bank rises 3.2% to EUR8.19, hitting a 52-week high.

Anima Holding rises 0.9%. Net inflows of assets under management-excluding Branch I insurance proxies-were positive EUR253 million in December 2022, for a positive total since the beginning of the year of more than EUR1.6 billion, which reaches EUR2.4 billion including Branch I proxies. At the end of December, the Anima Group's total assets under management stood at more than EUR177 billion.

Banca Monte dei Paschi does best of all, rising 9.8 percent after two sessions in the red.

On the SmallCap, good buying on algoWatt, which marks a plus 10% pointing to the third session to end on the bullish side.

The SAES Group--priced at EUR30.15 up 28 percent--on Monday informed that it has signed a binding agreement with the U.S. company Resonetics for the sale to the latter of the Nitinol business and, in particular, its U.S. subsidiaries Memry Corporation and SAES Smart Materials Inc. The scope of the divestment includes SAES's entire production process in the aforementioned market, vertically integrated (from Nitinol alloy casting to component production) and located entirely in the U.S.

Gabetti gives up 3.1 percent, with the stock trading at an unusually high 178,000 traded against a three-month daily average of about 63,000.

Among SMEs, Almawave rises 4.0%, reversing course after three sessions among the bearish.

Agatos, on the other hand, rises 6.4 percent, after a 2.8 percent loss on the eve.

SolidWorld Group -- in the green by 0.9 percent -- on Monday announced the opening of a new office in Dubai, UAE, through the newly established company SolidWorld Middle East DMCC, which is 60 percent owned by SolidWorld Group and the remaining 40 percent is held by professional operating figures and already shareholders of the Issuer.

"With this initiative we materialize one of the strategic objectives behind the listing," explained Roberto Rizzo, founder and chairman of SolidWorld Group.

In New York on Friday evening, the Dow Jones closed up 2.1 percent, the S&P up 2.3 percent, and the Nasdaq picked up 2.6 percent.

Among currencies, the euro changed hands at USD1.0674 versus USD1.0619 at Friday's close. In contrast, the pound is worth USD1.2119 from USD1.2063 on Friday evening.

Among commodities, Brent crude is worth USD81.17 per barrel from USD79.61 per barrel Friday night. Gold, on the other hand, trades at USD1,871.48 an ounce from USD1,862.74 an ounce Friday night.

On Monday's economic calendar, the US is scheduled to hold a Treasury bond auction in the afternoon at 1730 CET.

As for Piazza Affari, Brunello Cucinelli's results are expected.

By Maurizio Carta, Alliance News reporter

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