(Alliance News) - The Mib closed bullish in the 28,500 area on Monday, in line with other European exchanges, with trading rooms carefully weighing the statements made by Fed chief Powell and ECB Chairwoman Lagarde during last week's Jackson Hole symposium, which did not change the outlook on interest rates, reiterating the central banks' resolve and firmness to bring inflation in line with their 2 percent target.
Reinforcing the buy side was also the initiative taken in China, which cut a tax on stock trading for the first time since the 2008 financial crisis. In fact, on Sunday, China's Ministry of Finance introduced further measures to support the market in the world's second-largest economy by halving the stamp duty on stock trading in order to boost investor confidence.
The announcement marks the latest in a series of attempts by senior Chinese officials to provide stimulus to the country, which has struggled to regain momentum after three years of severe pandemic restrictions.
Thus, the FTSE Mib closed up 1.2 percent to 28,544.56, the Mid-Cap advanced 1.4 percent to 41,634.64, the Small-Cap up 1.0 percent to 27,032.37, while Italy Growth rallied 0.2 percent to 8,865.09.
In Europe, Paris' CAC 40 closed up 1.4 percent and Frankfurt's DAX rose 1.0 percent, while London was closed for Bank Holiday.
On the blue chip list, good session for Telecom Italia, which closed ahead 3.4 percent, with price at EUR0.28 after two sessions ended in the red.
Prysmian also marks plus 3.4%, on the heels of Friday night's green, up 0.8%.
Eni is in the green by 1.0% after reporting Monday that it has started oil and gas production from the Baleine field in the deep waters of the Ivory Coast. This milestone comes less than two years after its discovery in September 2021 and less than a year and a half after the final investment decision. It is the first zero-emission production project - Scopes 1 and 2 - in Africa.
On a negative note, ERG gave up 0.4 percent, after three sessions closed in the black and standing as the only bearish performer.
On the Mid-Cap, Danieli & C finished on top with a plus 4.4 percent, bringing the price to EUR22.55.
Saras, on the other hand, advanced 4.2 percent, in its third bullish session. On the stock, WorldQuant revised its short position to 0.69% from 0.73% previously.
Reply, on the other hand, advanced 4.3 percent to EUR91.85 per share.
Among the few declines is Alerion, which ended the run down 2.1 percent as it continues its buyback program. Most recently on Monday it reported that it had bought back its own shares for a total value of EUR133,000 or so.
Rear-ends also for Ascopiave, down 0.5 percent after a green of 1.7 percent on Friday evening.
On the Small-Cap, Fidia closed up 4.9%, after a 2% decline in the previous session.
Orsero, on the other hand, rallied 4.7 percent, after the previous two sessions ended with a minus sign.
Itway gave up 0.4 percent. The company reported Friday that its subsidiary 4Science continued its upward trend during the first half of the year, recording 117 percent order growth over the first half of 2022, reaching an order value of more than EUR1.2 million.
At the back of the pack, Olidata closed 4.0 percent in the red, following a 1.4 percent profit in the previous session.
Among SMEs, Innovatec closed ahead 6.8 percent after 6.3 percent assets in the previous session.
High Quality Food, on the other hand, advanced 4.9%, among the best of the day and bringing the price to EUR0.86.
Riba Mundo Tecnologìa closed up 2.2% after reporting Friday that the greenshoe option was fully subscribed by Banca Profilo. The 11,200 shares subscribed by the company's global coordinator and specialist were made available by Marco Dezi at a price of EUR19.70 each, for a total transaction value of EUR220,640. Following the exercise of the greenshoe option, the company's free float increased to 12.1 percent.
International Care Company--up 0.6 percent after closing up 7.7 percent--reported Friday that Intesa Sanpaolo Vita's entry into the company's capital was finalized. The latter subscribed to a EUR500,507.70 reserved capital increase made through the issuance of 238,337 new ordinary shares of ICC at EUR2.10 each and took over 238,338 shares from shareholder FD Holding.
Among the negative notes, SIF Italia gave up 8.5 percent, after a timid 0.6 percent gain in the previous session.
In New York, the Dow Jones is up 0.6 percent, the S&P is up 0m4 percent, and the Nasdaq is up 0.6 percent.
Among currencies, the euro changes hands at USD1.0809 versus USD1.0787 in Friday's European stock close while the pound is worth USD1.2587 from USD1.2571 on Friday evening.
Among commodities, Brent crude is worth USD84.53 per barrel versus USD84.22 per barrel at Friday's close. Gold, on the other hand, trades at USD1,923.91 an ounce from USD1,909.42 an ounce Friday night.
On Tuesday's economic calendar, at 0130 CEST, the unemployment rate arrives from Japan, while at 0800 CEST it will be the turn of the GfK report on sentiment among German consumers. At 1200 CEST, the economic forecast from the European Commission will be released.
At 1600 CEST, new jobs JOLTs are released from the US, while at 2230 CEST it will be the turn of weekly oil stocks.
Among companies, the half-yearly ressults of Brunello Cucinelli and Italian Exhibition Group are expected.
By Maurizio Carta, Alliance News reporter
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