Futures bullish; Brent at USD76

(Alliance News) - European markets are expected to be in the green on Tuesday, according to IG futures, following the bullish close of U.S. stock markets.

The FTSE Mib, therefore, is expected to be up 70 points or 0.2 after closing up 0.4 percent at 30,569.92, London's FTSE 100 is expected to open up 25 points or 0.3 percent, Paris' CAC 40 is given in the green by 24 points or 0.3 percent while Frankfurt's DAX 40 is expected to be up 35.5 points or 0.2 percent.

"The expectation of a sufficiently weak Consumer Price Index report from the U.S. this Thursday and the persistent decline in crude oil prices continue to calm investors' nerves about the future of inflation, despite the explosion in shipping costs due to the Red Sea tensions," commented Ipek Ozkardeskaya, Senior Analyst at Swissquote Bank.

"Since oil prices have been a major contributor to inflation, their inability to rebound calms inflation concerns, keeping the doves at the Federal Reserve in charge of the market -- and this is somewhat positive for equity valuations."

Among Italy's smaller lists on Monday, the Mid-Cap rose 1.1 percent to 44,247.78, the Small-Cap closed up 0.9 percent to 28,105.76 while Italy Growth gave up 0.2 percent to 8,278.33.

On the blue chip list Monday evening, Banca Mediolanum closed up 1.9 percent. The bank reported Monday that it reported total net inflows of EUR1.22 billion in December. Net inflows in assets under management stood at EUR655 million in December.

Morgan Stanley promotes Amplifon to 'overweight' from 'equal weight' and raises the target price to EUR35.00 from EUR30.00. The stock closed the session doing best of all at EUR31.60 with daily positive balance of 3.4 percent.

Good buys also on Pirelli, which led the price up 3.0 percent to EUR4.98, after a 0.1 percent loss in the previous session.

BPER Banca - just above par - announced on Monday that it had mandated Barclays as Sole Structuring Advisor, Global Coordinator and Joint Bookrunner and Deutsche Bank, IMI-Intesa Sanpaolo, Mediobanca, Morgan Stanley and UBS as Joint Bookrunners to explore the potential interest of institutional investors with respect to a potential Additional Tier 1 bond issue in euros.

Eni--declining 3.0 percent--reported Monday that it had successfully launched a EUR1 billion bond issue, part of its Euro Medium Term Note program. Demand was for EUR5 billion, with orders coming from institutional investors mainly from the UK, Germany, Italy and France. The bond-whose proceeds will be used for the soceity's ordinary needs-has a 10-year term, maturing on January 15, 2034, a re-offer price of 99.3% and will pay an annual coupon of 3.875%, which will remain unchanged until maturity.

Subsidiary Saipem, on the other hand, gave up 3.9%, priced at EUR1.50, both tracking the decline in the barrel price and subject to profit-taking after four sessions closed with a bullish candle.

On the Mid-Cap, Alerion advanced well, taking home a plus 4.5 percent after a 1.2 percent loss on the eve.

LU-VE, on the other hand, picked up 2.9 percent after a 0.6 percent decline on Friday night.

Anima Holding--bullish with 3.1%--reported Monday that the group's net inflows of assets under management in December--excluding class I insurance proxies--were positive EUR277 million, bringing the 2024 total to a negative EUR171 million. At year-end, total assets under management by the Anima group stood at EUR191.5 billion.

On a bearish note, the list's minority, Banca Popolare di Sondrio gave up 0.9 percent, after two sessions closed on a bullish trend.

d'Amico is giving up 1.8 percent, following Friday night's decline of 0.2 percent.

On the Small-Cap, algoWatt is doing well, up 9.4%, with shares closing at EUR0.3040. The company announced that the Court of Milan has accepted the appeal for the company's admission to the "conditional" arrangement procedure. The court also appointed Carlo Pagliughi and Vincenzo Tartaro as judicial commissioners and set March 4 as the deadline for submitting a final proposal for an arrangement with creditors or an application for approval of debt restructuring agreements.

ClassEditori also advanced well, which brought home a 1.8 percent profit after a 2.1 percent red on Friday night.

Biesse, on the other hand, rallied 3.1 percent on the heels of Friday night's 1.5 percent green.

Among the bearers, numerous in the list, Netweek gave up 1.6 percent, after 1.6 percent green on the eve of the day.

Fidia, on the other hand, gave up 2.7 percent, continuing its long bearish trend.

Among SMEs, Farmacosmo advanced 10 percent, following up last session's gain, albeit by a more restrained 1.6 percent. Of note, there was high trading volume on the stock with over 596,000 pieces changed hands compared to a three-month daily average of 63,100.

High Quality Food, on the other hand, rallied 4.3 percent after the 1.2 percent red with which it closed Friday night.

Ilpra--flat with prezzzo at EUR5.00--reported Monday that it has opened a new trading subsidiary in Daejeon, South Korea. As the company explained, "the further strengthening of the presence in foreign markets is part of a policy to strengthen the group in geographic areas considered strategic and with high growth potential as well as a strengthening of the sales network aimed at increasing commercial activities and, consequently, market share."

E-Globe, on the other hand, gave up 3.1 percent, with new price at EUR1.39 per share.

Energy, on the other hand, gave up 4.4 percent, subject to profit taking after two sessions of gains in which it accumulated an asset of nearly 24 percent.

In Asia, the Nikkei closed in the green 1.2 percent to 33,763.18, the Hang Seng rose 0.3 percent to 16,219.00 and the Shanghai Composite finished in the green 0.2 percent to 2,893.25.

In New York on Friday, the Dow Jones closed in the green by 0.6 percent, the S&P finished up 1.4 percent and the Nasdaq finished up 2.2 percent.

Among currencies, the euro changed hands at USD1.0958 against USD1.0973 recorded in Monday's European stock close while the pound was worth USD1.2744 from USD1.2761 on Monday evening.

Brent crude is worth USD76.33 per barrel versus USD75.87 per barrel at Monday's close. Gold, meanwhile, trades at USD2,034.71 an ounce from USD2,032.19 an ounce on Monday evening.

On Tuesday's macroeconomic calendar, Italy's unemployment rate is due at 1000 CET. At 1100 CET, on the other hand, the Eurozone unemployment rate is due.

In the afternoon, at 1430 CET, it is time for the trade balance of the US and Canada while, at 1900 CET, an auction of three-year Treasury bonds is scheduled. Closing the day will be the data on US oil stocks, at 2230 CET.

No particular announcements are scheduled in the corporate calendar for the Piazza Affari.

By Chiara Bruschi, Alliance News reporter

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