(Alliance News) - On Monday, major European stock markets closed in positive territory on a relatively quiet day on the macroeconomic data front, but pushed well on results.

"European markets picked up where they left off on Friday with another positive session. The FTSE100 came in at its best level since August 2018, driven by a recovery in commodity prices after China eased travel restrictions. The U.K. index underperformed its European peers, while the DAX outperformed, rising to its best level since March last year and up more than 20 percent from its October lows," commented Michael Hewson, chief market analyst at CMC Markets.

"Today's easing of travel restrictions between China, Hong Kong and the rest of the world helped boost markets further, while the New Year feel-good effect continues to drive sentiment, pushing equities higher and the U.S. dollar lower. U.S. markets also picked up where they left off, opening upward for a new trading week. Reaction to last week's weaker-than-expected ISM services and payrolls numbers is still driving sentiment, ahead of this week's December CPI and Fed Chairman Jerome Powell's expected speech tomorrow."

Thus, the FTSE Mib closed up 0.8 percent to 25,385.09, the Mid-Cap gained 1.9 percent to 41,634.71, the Small-Cap rose 1.5 percent to 28,873.29, and Italy Growth finished up 0.5 percent to 9,456.54.

The FTSE 100 closed up 0.3 percent while Paris' CAC 40 rose 0.9 percent and Frankfurt's DAX 40 picked up 1.5 percent.

On the main list in Piazza Affari, good buying on Ferrari, which moved ahead 3.4 percent. On the stock it is reported that Citigroup raised its target price to EUR216.00 from EUR250.00.

Telecom Italia rises 5.6 percent, taking the lead in the list.

Banca Mediolanum - up 1.9 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 are EUR710 million, while new loans disbursed are EUR430 million.

Azimut also does well, up 2.3 percent after announcing Monday that it recorded total net inflows of EUR1.2 billion in December 2022. This brings 2022 fundraising to EUR8.5 billion, above the high end of the EUR6 8 billion target for the full year.

Among the few bearish performers, ERG gives up 1.6 percent. On the stock, Morgan Stanley cut its target price to EUR29.00 from EUR31.00. CNH Industrial is the only Agnelli Galaxy stock to close lower, down 2.4 percent.

On the cadet segment, Anima Holding rises 1.2 percent. 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.

It does best of all Banca Monte dei Paschi, which rises about 12 percent after two sessions in the red.

"Monte Paschi regains momentum a market capitalization at least higher than the amount of the last recapitalization and is a candidate to be one of the possible good surprises of this 2023. Credit to the reassurances offered by ceo Luigi Lovaglio and Giorgia Meloni's end-of-year words that she wants 'more Italian banking poles,'" commented Francesco Bonazzi, Alliance News columnist.

"Lending a hand to the stock today were the words delivered by Lovaglio's chief executive to the 'Sole 24 Ore' on Saturday. The former Valtellinese number one recalled that after the recapitalization and with the exit of 4,000 employees, with cost reductions of EUR300 million annually, the Rocca Salimbeni bank can really hit the target of EUR700 million in gross profits in 2024."

On the Small-Cap, good buys on algoWatt, which marks a 7.1 percent gain pointing to the third session to end on the bullish side.

The SAES Group-with price at EUR29.35 up 25 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. The scope of the divestment includes SAES's entire production process in the aforementioned market, which is vertically integrated (from Nitinol alloy casting to component production) and located entirely in the US.

Among SMEs, Almawave rises 3.1 percent, reversing course after three sessions among the bearish.

Neursoft does best of all and soars more than 28 percent.

SolidWorld Group -- in the green by 0.9 percent -- on Monday announced the opening of a new office in Dubai, United Arab Emirates, 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, the Dow is up 0.9 percent, the Nasdaq gains 2.2 percent, and the S&P 500 rises 1.4 percent.

Among currencies, the euro changes hands at USD1.0748 versus USD1.0619 at Friday's close. In contrast, the pound is worth USD1.2198 from USD1.2063 on Friday evening.

Among commodities, Brent crude is worth USD80.03 a barrel from USD79.61 a barrel Friday night. Gold, on the other hand, trades at USD1,880.45 an ounce from USD1,862.74 an ounce Friday night.

On Tuesday's economic calendar, at 0030 CET, Japanese household consumption, Tokyo General Price Index, and Tokyo Consumer Price Index will be published.

At 0101 CET, from the United Kingdom will come the retail sales survey.

At 0900 CET, Spain will release the country's industrial production.

Overseas, at 1200 CET, it is the turn of the U.S. Small Business Optimism report.

At 1400 CET, again in Spain, the consumer confidence index will be released.

At 1500 CET, in the United States, Fed Chairman Powell's speech is expected.

Among the companies listed in Piazza Affari, no particular announcements are expected.

By Claudia Cavaliere, Alliance News reporter

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