(Alliance News) - On Monday, the FTSE MIB closed with a bullish trend, at 28,800, doing better than the other European stock markets -- well supported by the banking sector, which acted as a locomotive.

In the meantime, investors await new clues on monetary policies from major central banks, starting tomorrow when the US CPI will be released, expected in any case with a slowing figure. Markets have settled on a forecast of 3.3 percent annual price growth from 3.7 percent the previous month.

On Monday, in the CME Group platform's FedWatch Tool, using futures also based on the actual federal funds rate or EFFR, the rate confirmation in the December meeting has an 86 percent probability for the 525/550 bp range confirmation. In contrast, the 25 bps rise in the 550/575 bps target is priced at 16%.

Thus, the FTSE Mib closed in the green by 0.8 percent at 28,925.26.

The Mid-Cap rose 0.7 percent to 40,980.46, the Small-Cap closed in the green by 0.4 percent to 25,456.93, while Italy Growth closed in the red by 0.1 percent to 7,599.95.

In Europe, Paris' CAC 40 rallied 0.6 percent, London's FTSE 100 closed up 0.9 percent, and Frankfurt's DAX 40 rallied 0.7 percent.

On the main list of Piazza Affari, Monte dei Paschi di Siena closed on top up 8.6 percent, boosted also by the news that Fitch Ratings upgraded the bank's ratings by two notches, raising the long term issuer default rating to 'BB' from 'B+' and the viability rating to 'bb' from 'b+.' The upgrade, according to Fitch, reflects the success of the restructuring process, which has enabled the bank to structurally rebuild strong capital buffers and strengthen operating profitability.

BPER Banca also had an excellent session, up 7.1 percent to EUR3.52. Earlier in the day, the stock updated its 52-week high to EUR3.51.

Banco BPM, on the other hand, up 4.6 percent to EUR5.32.

Mediobanca, up 1.4 percent, also did well. The company announced that a new share buyback program of up to 17.0 million shares will start on Monday. During the program, the maximum investment amount of EUR200 million may not be exceeded the shares will be used to finance potential M&A transactions for the bank and possible compensation plans. The program will be completed within 12 months of the European Central Bank's approval.

On the bottom goes CNH Industrial, in the red by 0.8 percent and continuing its long negative streak.

On the Mid-Cap illimity Bank advanced 4.8 percent--doing best of all--after the release of good nine-month accounts. The bank reported net income of EUR75.0 million from EUR50.6 million, up 58 percent from the same period a year earlier. As of September 30, net interest income stood at EUR147.7 million, up 27 percent to EUR116.1 million in 2022.

Purchases also on Industrie de Nora, which closed up 4.7 percent after falling 3.2 percent on Friday evening.

Up also Banca Ifis, up 0.9% after reporting that it closed the nine months with net income attributable to the group of EUR124.7 million, up 18% from EUR105.5 million in the first nine months of 2022. Net banking income, up 4.8 percent to EUR512.4 million from EUR488.7 million in the same period of 2022, benefited from the Commercial & Corporate Banking Sector's positive correlation to rising interest rates.

Among the bearers, Antares gave up 2.7 percent, with price at EUR2.87 per share, pending the release of accounts expected later today.

Alerion, on the other hand, left 5.4 percent on the parterre. The company reported Friday that revenues for the first nine months amounted to EUR146.1 million from EUR212 million recorded in the first nine months of 2022. Also on Friday, the board decided to issue a EUR170 million green bond, with a fixed interest rate of 6.50 percent on an annual basis, with payment every six months.

On the Small-Cap, Alkemy did best of all, advancing more than 11 percent to EUR8.52 per share, in its third bullish session.

Netweek, on the other hand, picked up 1.4 percent, following Friday night's 5.0 percent decline.

Datalogic--flat at EUR5.30--reported Thursday that it ended the first nine months with revenues down to EUR417.0 million from EUR476.5 million in the same period a year earlier, with declines recorded in all geographic areas in which it operates.

doValue gave up more than 11 percent with price at EUR3.06 per share. The company reported Thursday that gross revenues fell in the nine months to EUR335.2 from EUR425.5 million in the same period a year earlier. Net revenues fell to EUR304.6 million from EUR380.0 million, and collections dropped to EUR3.40 billion from EUR3.91 billion a year earlier.

Among SMEs, DHH rallied more than 10 percent with price at EUR15.50 per share, in its fifth bullish session.

Pharmacosmo, on the other hand, advanced 3.8 percent with new price at EUR0.6580 per share, rearing its head after three sessions in the negative.

CrowdFundMe closed up 3.6 percent after reporting on Monday that it had obtained the new European authorization for traders in the sector. CrowdFundMe will thus benefit from the new regulations, which promote the formation of a single European market, unified with clear rules. In particular, the EU regulation incentivizes the cross-border provision of crowdinvesting services, which was previously discouraged by highly fragmented laws.

Convergences left over 12 percent on the parterre. There was high trading volume on the stock, with more than 28,000 pieces changed hands compared to a three-month daily average of about 6,000 pieces.

In New York, with stock exchanges trading at full strength, the Dow is advancing 0.1 percent, the Nasdaq is giving up 0.1 percent as is the S&P 500.

Among currencies, the euro is changing hands at USD1.0689 against USD1.0667 recorded in closing European equities on Friday while the pound is worth USD1.2243 from USD1.2193 on Friday evening.

Among commodities, Brent crude is worth USD81.53 per barrel from USD81.11 per barrel at Friday's close. Gold, on the other hand, trades at USD1,942.45 an ounce from USD1,944.50 an ounce Friday night.

On Tuesday's macroeconomic calendar, the UK unemployment rate at 0800 CET, while at 0900 CET there will be a speech by Williams of the Federal Reserve and at 0945 CET by Ernia of the ECB.

At 1100 CET from the Eurozone the Eurozone GDP and ZEW sentiment of confidence.

In the afternoon, at 1430 CET, the U.S. CPI, while in the evening will come the weekly oil stocks figure at 2230 CET.

Among the many companies, a large number of intermediate reports are coming in, including Cairo Communication and Fincantieri.

By Maurizio Carta, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.