(Alliance News) - European stock markets, including Milan, are expected to open lower on Monday despite some new measures in China -- the world's second-largest economy -- fielding new stimulus to boost consumption.

Authorities released a 20-point plan that includes greater support for housing demand, the culture and tourism sector and green consumption such as electric vehicles. The move comes as consumer spending remains subdued even after the lifting of strict Covid restraint measures late last year.

Thus, futures on the FTSE Mib mark up 10.00 points after closing down 0.3 percent at 29,500.20 Friday night.

In Europe, London's FTSE 100 is given in the red by 18.00 points, Paris' CAC 40 is expected down 15.00 points while Frankfurt's DAX is expected to be down 12.00 points.

On Friday, the Mid-Cap rose 0.1 percent to 42,785.09, the Small-Cap was in the green 0.2 percent to 27,064.56 and Italy Growth closed just below par at 9,083.12.

On the highest-capitalization list in Piazza Affari on Friday, Banca Generali, which presented its half-year results, rose 2.9 percent. The bank reported a net profit of EUR175.1 million, which compares with EUR131.3 million for the same period in 2022. Net interest income was EUR151.5 million from EUR51.8 million in the same period of 2022.

Azimut Holding equally finished among the best, rising 2.3 percent. The company reported Thursday that it achieved total revenues of EUR643 million in the first half of the year compared to EUR668 million in the first half of 2022. Operating profit amounted to EUR286 million from EUR279 million in the same period of 2022. Adjusted net income was EUR231 million from EUR202 million in the first half of the previous year.

Iveco, on the other hand, rallied 2.8 percent to EUR8.57, in its third bullish session.

Eni closed down 0.5 percent. The company reported Friday that it closed the first half with a sharply declining year-on-year net profit despite a slight increase in hydrocarbon production. The six-legged dog's net income fell 64 percent in the first half to EUR2.68 billion from EUR7.40 billion in the first half of 2022, while, in the second quarter alone, the decline was even sharper, to EUR294 million from EUR3.82 billion.

Sharp decline also for adjusted profit, down to EUR4.84 billion from EUR7.08 billion in the first half and to EUR1.94 billion from EUR3.81 billion in the quarter. Adjusted net income is obtained by excluding from reported net income special items and inventory gain or loss as well as, when determining the net income of business segments, financial expenses or income related to net financial debt.

On the other hand, ERG closed down 6.6 percent. The company reported Friday that it closed the first half of the year with net income up 40 percent to EUR116 million from EUR82 million in the same period a year earlier. Ebitda dropped to EUR263 million from EUR272 million and Ebit fell to EUR155 million from EUR165 million.

STMicrolectronics closed down 4.1 percent. The company on Thursday presented financial results for the second quarter ended July 1, reporting net revenues of USD4.33 billion from USD3.84 billion in the same period of 2022. Net income for the period amounted to USD1.00 billion which compares to USD867 million in the second quarter of 2022. Net income per share, after dilution, increased to USD1.06 from USD0.92 in the same period of 2022.

On the Mid-Cap, Alerion closed down 4.6 percent, with price at EUR28.35 after the accounts. The first half ended with a net profit of EUR50.5 million, up from EUR44.7 million in the same period last year. Revenues fell to EUR111.5 million from EUR141 million.

Brembo--in the red by 2.5 percent--reported Thursday that it ended the first half of the year with revenues up 12 percent year-on-year to EUR1.95 billion from EUR1.75 billion in the same period a year earlier.

Good buys on Eurogroup Laminations, which marked a plus 3.1 percent on the heels of eve's 1.3 percent green.

Caltagirone, on the other hand, advanced 2.8%, in its third consecutive session in the green.

Cementir Holding rose 0.6 percent after reporting Thursday in the first six months of the year it reported group net income of EUR90.3 million, up 36 percent from EUR66.6 million as of June 30, 2022. Revenues stood at EUR840.7 million from EUR831.6 million in the first half of last year.

Webuild--declining 0.5 percent--reported Friday that revenues and profitability rose in the first half of the year but widened its loss, despite a record construction portfolio. Revenues rose to EUR4.54 billion in the first half of the year from EUR3.84 billion in the same period a year earlier. The construction portfolio as of June 30, 2023 has reached record levels, standing at over EUR51 billion, and covers 100 percent of target revenues to 2025. This allows the group to face future challenges in a leading position, thanks in part to the excellent balance in low-risk geographies such as Italy, Central and Northern European countries, the U.S. and Australia, which make up about 78 percent of the backlog.

On the Small-Cap, Seri Industrial advanced 3.8 percent, rearing its head after two sessions in the red.

BasicNet, on the other hand, rose 4.5 percent after reporting that it closed the first half with a net income of EUR7.4 million from EUR10.7 million in the first six months of 2022.

Conafi, on the other hand, posted a plus 2.3 percent, in the green after a four-session downtrend.

The board of Geox -- down 1.1 percent -- on Thursday said it had approved consolidated results for the six months ended June 30, which closed with a loss of EUR9.6 million, compared with a loss of EUR19.6 million in the first six months of 2022. Consolidated revenues for the first half of the year stood at EUR353.6 million, up 3.8 percent from the previous year, "mainly due to the good performance of the multi-brand channel, which increased by 10 percent."

Fiera Milano -- down 1.0 percent -- announced Wednesday that it had approved results as of June 30, having reported a net profit of EUR25.7 million from EUR5.3 million in the same period last year. In the first half, consolidated revenues amounted to EUR132.2 million from EUR116.2 million as of June 30, 2022.

Among SMEs, Giglio.Com closed up 11 percent, rebounding after two bearish sessions in which it left about 18 percent on the parterre.

International Care Company-suspended during the session at EUR1.68-announced Friday that controlling shareholder FD Holding Spa and its direct and indirect controlling shareholders have entered into an agreement with Intesa Sanpaolo Vita aimed at the latter's entry into the share capital of International Care Company.

Relatech closed down 0.9 percent. The company closed the first half of the year with revenues up 89 percent year-on-year to EUR48 million from EUR25.4 million in the same period last year. The share of recurring revenues stood at EUR18 million or so, up 112% from EUR8.6 million as of June 30, 2022, and accounted for 38% of revenues from consolidated sales. Revenues to foreign countries are EUR13 million or so, up 58% from the same period last year.

Valtecne, on the other hand, gave up 6.1 percent, in its fourth session on the bearish side.

In New York on Friday evening, the Dow Jones closed in the green by 0.5 percent, the S&P rose 1.0 percent, and the Nasdaq picked up 1.9 percent.

Among Asian exchanges, the Nikkei advanced 1.3 percent, the Hang Seng is gaining 1.2 percent, and the Shanghai Composite is advancing 0.3 percent.

Among currencies, the euro changed hands at USD1.1009 against USD1.1033 in Friday's European equities close while the pound is instead worth USD1.2852 from USD1.2864 on Friday evening.

Among commodities, Brent crude is worth USD83.94 per barrel versus USD84.55 per barrel at Friday's close. Gold, meanwhile, trades at USD1,955.27 an ounce from USD1,962.19 an ounce on Thursday evening.

On Monday's macroeconomic calendar, at 1000 CEST, Italy's quarterly Gross Domestic Product will be released, followed at 1100 CEST by the inflation figure, while it will also come at the same time, along with GDP from the Eurozone.

At 1200 CEST, from Italy, focus on the trade balance.

In the evening, from the US, at 1730 CEST, auction of Treasury bonds with 3- and 6-month maturities.

On the corporate calendar, among several expected results are those of CIR, Convergenze, Culti, Eles, Gabetti , Nexi, RCS, and Saras.

By Maurizio Carta, Alliance News senior reporter

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