(Alliance News) - European stock markets opened in a bullish trend on Monday after stronger-than-expected U.S. economic data and another interview by Federal Reserve Chairman Jerome Powell further dented sentiment on interest rate cuts.

Powell said in an interview aired Sunday that the U.S. central bank is likely to move at a considerably slower pace on rate cuts than the market expected.


The FTSE Mib, thus, is advancing 1.0 percent to 31,035.80.

In Europe, London's FTSE 100 is advancing 0.4 percent, while Paris' CAC 40 is advancing 0.1 percent as is Frankfurt's DAX 40.

Among the smaller lists, the Mid-Cap is rising 0.1 percent to 45,281.93, the Small-Cap is up 0.1 percent to 27,707.41, and Italy Growth is posting a green of 0.3 percent to 8,282.12.

Among stocks, good start for the banking sector, which is resisting the bearish current.

The board of directors of UniCredit - up 7.9 percent - on Monday released consolidated group results as of December 31, with the year ending with a net profit of EUR8.6 billion up more than 50 percent from the previous year. The group closed with a ROTE at 16.6 percent from 10.7 percent in the previous year. In 2023, net book profit reached a record EUR9.5 billion, EUR3.0 billion higher than in 2022.

BPER Banca is also advancing well, moving ahead 4.3 percent on the heels of Friday's 2.0 percent gain.

Intesa Sanpaolo, meanwhile, is advancing 2.4%, on the eve of the release of results and after three sessions closed among the bearish.

Tenaris, on the other hand, is giving up 1.1% to EUR14.86, after three sessions closed with bullish candles.

Rear-ends also for Ferrari, which is stepping back 1.0 percent after 1.7 percent red on eve.

On the Mid-Cap, Intercos is stepping up 1.5% to EUR13.84 per share, rearing its head after three bearish sessions.

Maire Tecnimont--best on the list with a plus 2.0%--on Monday announced that it has been awarded a FEED from MadoquaPower2X for the development of an integrated hydrogen and green ammonia plant in the Sines industrial zone in Portugal.

MadoquaPower2x is a consortium consisting of Madoqua Renewables, Power2X and Copenhagen Infrastructure Partners through its Energy Transition Fund. The project involves green hydrogen production using the combined technology of alkaline electrolyzer hydrolysis and green ammonia production through the Haber-Bosch process, the company explained in a note.

Seco, on the other hand, marks a plus 1.3 percent to EUR3.07 per share, after two sessions closed at a loss.

Juventus FC, on the other hand, gives up 1.2 percent to EUR30.25 per share, in the red after four bullish sessions and after the defeat in the top challenge to Inter on Sunday.

On the Small-Cap, good start for Beewize, which moves ahead 6.2% heading for its third bullish session.

Safilo Group -- up 0.6 percent -- announced Friday that it has signed an agreement to acquire a minority stake in Spaarkly, a digitally native company specializing in developing innovative e-commerce solutions through augmented reality technology.

CY4 Gate, on the other hand, is giving up 3.8 percent. The company reported Friday that its board of directors reviewed some preliminary figures for 2023, which include orders of EUR73 million up 22 percent from 2022. Revenues increase to EUR65.0 million up 20% from the final 2022 figure and in line with the pro-forma full-year 2022 result.

Gabetti, on the other hand, is stepping back 2.7%, in its third session with a bullish candle.

Among SMEs, Eprcomunicazione is advancing 6.1% to EUR2.44 per share, after two sessions closed with a loss.

Also good opening for Franchetti, which is rallying 6.0% to EUR4.59 per share, after touching a new 52-week high at EUR4.60 per share.

At the back of the pack, in a still uneventful list, Estrima is stepping back 6.2%to EUR0.7280 per share, the subject of profit taking after Friday night's double-digit rise.

In New York on Friday, the Dow Jones closed in the green by 0.4 percent, the S&P advanced 1.1 percent, and the Nasdaq picked up 1.7 percent.

Among Asian exchanges, the Hang Seng posted a 0.2% red, the Shanghai Composite closed down 1.0%, while the NIkkei picked up 0.5%.

Among currencies, the euro changed hands at USD1.0769 against USD1.0792 recorded in Friday's European stock close while the pound is worth USD1.2618 from USD1.2640 on Friday evening.

Brent crude is worth USD77.25 per barrel versus USD77.30 per barrel at Friday's close. Gold, on the other hand, trades at USD2,022.65 an ounce from USD2,034.71 an ounce Friday night.

On Monday's calendar, the Eurozone services PMI will arrive at 1000 CET.

At 1100 CET, from the Eurozone, coming in is the consumer price index data.

From the U.S., at 1545 CET, coming in is the tertiary PMI, while a speech by FOMC member Bostic is scheduled at 2000 CET.

On the corporate calendar, coming up are results from Jonix, Nusco and Risanamento.

By Maurizio Carta, Alliance News senior reporter

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