(Alliance News) - Piazza Affari followed up on its positive streak Monday, closing higher and remaining firmly above 30,000 points.
Chris Beauchamp, chief market analyst at IG, said, "Tuesday's consumer price index and Wednesday's Fed decision will keep U.S. markets on their toes but some late buyers continue to join the party."
"While a complete reversal of recent gains is unlikely, it certainly looks like the stellar rally of the past six weeks is set to experience some turbulence, particularly if the Fed tries to quash some of the hopes on 2024 rate cuts."
The FTSE Mib closed Monday up 0.1 percent to 30,426.58, the Mid-Cap finished up 0.1 percent to 42,694.61, the Small-Cap gained 0.2 percent to 26,679.50, and Italy Growth lost 0.3 percent to 8,068.10.
In Europe, London's FTSE 100 closed at par, Paris' CAC 40 rose 0.4 percent and Frankfurt's DAX 40 gained 0.3 percent.
On the Mib, FinecoBank did well, up 5.3 percent after it reported November net inflows of EUR286.6 million, which compares with EUR497.6 million in November 2022. Since the beginning of the year, inflows are EUR7.57 billion compared to EUR8.67 billion in the January-November period of the previous year.
Interpump, up 1.1 percent, and Amplifon, bullish by 2.0 percent, also did well.
Leonardo, on the other hand, gave up 0.3%. International rating agency S&P Global included Leonardo in the Dow Jones Sustainability World Index and the Dow Jones Sustainability Europe Index for the 14th consecutive year.
Alessandro Profumo, Fabrizio Viola and Paolo Salvadori, respectively former chairman, former chief executive officer and then chairman of the board of statutory auditors of Banca Monte dei Paschi di Siena -- up 2.9 percent at the end of the session -- were acquitted by the Milan Court of Appeals because the fact does not exist.
This closes the trial for false accounting and market rigging that is part of the investigation strand on the accounting of Santorini and Alexandria derivatives.
The court thus overturned the first-instance ruling that, in 2020, had instead convicted the bank's former top management: Profumo and Viola had been sentenced to six years while Salvadori was sentenced to three and a half years' imprisonment and Monte Paschi was ordered to pay EUR800,000 in fines.
On the Mid-Cap, Banca Ifis rose, reflecting the good session in the banking segment. The bank's stock rose 2.3 percent.
Fincantieri--down 1.3 percent--reported that Norwegian subsidiary Vard has signed a USD200 million contract to design and build a state-of-the-art hybrid cable-laying ship for Japanese company Toyo Construction.
Zignago Vetro closed up 0.6 percent after purchasing--from Dec. 4 to Dec. 8--32,472 treasury shares. The average price was EUR13.44 per share for a total consideration of about EUR437,000.
On the Small-Cap, Tessellis rose 18 percent, ending its fifth session in a row among the bullish.
Gequity lost 5.0 percent after making it known that it will divest the Education business for EUR5.3 million, as announced by the company after hearing from the independent adviser called to give his opinion on the transaction. Taking over the Education branch will be Believe.
Meanwhile, Gequity also approved the new 2023-2027 business plan, which was built by integrating the economic and capital flows from BestBe's 2023-2027 business plan to the Gequity as-is structure.
doValue gained 1.1 percent after signing the acquisition by doValue Spain of Team 4 Collection & Consulting, a subsidiary of the Arvato Group.
The deal is expected to close by the end of the year and is subject to standard conditions precedent. This integration accelerates doValue Spain's strategy to expand its activities in the management of small unsecured loans, a rapidly growing market segment in the region and in Europe, and is consistent with its strategy to develop its business through greater diversification and a broader client base.
Among the SMEs in the stock market, Fope rose 0.7 percent. The company announced that it has opened a new flagship boutique in the prestigious Seibu mall in Kuala Lumpur.
"Repeating the positive experiences of existing partnerships with prestigious dealers in the management of boutiques in London and Tokyo, a boutique has also been opened in Kuala Lumpur in partnership with Suen Jewellers Sdn Bhd, an important and loyal Malaysian client," the company said.
The investment for the construction of the boutique was supported by Fope, the design was handled by Italian architect Flavio Albanese of ASA Studio while the operational management and customer reception services are entrusted to the care and professionalism of the Suen Jewellers Sdn Bhd team.
STAR7--up 1.4 percent--reported that it has entered into the deed of merger of Vertere Srl, an Italian company active in translation and localization services, into STAR7.
Maps lost 0.7 percent after announcing Monday that it and its subsidiary Energenius Srl had been awarded the implementation of a monitoring system for all Italian shopping centers of Eurocommercial Properties, which closed in %.
The project involves the extension of the existing monitoring system, also installed by Energenius, to allow real-time monitoring of electricity consumption of all common areas and businesses in the center. The system will also monitor the consumption of gas, water, air conditioning, lighting, and waste produced in all common spaces, and will track the production and use of energy generated for centers equipped with photovoltaic systems as well as the calculation of CO2 produced.
CY4Gate gave up 0.5 percent. The SME signed a major contract with a European institutional customer to supply its decision intelligence systems worth about EUR7 million and lasting 36 months.
Cy4Gate will "provide cutting-edge technology," the company explains in a note, "to aggregate information from heterogeneous sources to meet the specific needs of institutional clients, enabling them to use the big data they hold more efficiently and effectively. These are state-of-the-art decision support tools, characterized by a high degree of automation and a remarkable ability to enrich information and visualize it through intuitive and user-friendly dashboards."
In New York, the Dow is up 0.3 percent to 36,340.61, the Nasdaq is down 0.1 percent to 14,391.96, and the S&P 500 is up 0.2 percent to 4,613.06.
Among currencies, the euro changes hands at USD1.0772 versus USD1.0751 recorded at Friday's European stock close, while the pound is worth USD1.2664 from USD1.2537 on Friday evening.
Brent crude is worth USD76.40 per barrel versus USD75.64 per barrel at Friday's close. Gold, meanwhile, trades at USD1,992.90 an ounce from USD2,005.58 an ounce on Friday night.
Tuesday's macroeconomic calendar includes UK employment and wage data at 0800 CET, the same time as the wholesale price index in Germany.
At 1100 CET, the Zew index on sentiment in the Eurozone and Germany will be released, and an hour later will come the U.S. small business optimism report.
In the morning, auctions of three-month Spanish Letras, five-year British Gilt and one-year Italian BOTs will be held.
In the afternoon, at 1430 CET, eyes will be on U.S. inflation while, at 1800 CET, will come the EIA's short-term energy forecast. At 2230 CET, the day will close with data on weekly oil stocks.
Among the companies in the Square Business, no special events are expected.
By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter
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