(Alliance News) - Piazza Affari on Monday moves in a bearish trend, placing the point bar in the 29,300 area, at the start of a week full of important economic data, including the preliminary reading of US Core PCE inflation -- the Federal reserve's preferred gauge of price trends -- as well as important PMIs for both the Eurozone and Italy.
ECB President Christine Lagarde is expected to appear in a hearing at the European Parliament today, with markets expecting no particular clues other than confirmation of the ECB's steadfastness in - at the very least - reaffirming the current level of high rates for the short to medium term.
As for Eccles Building, 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 a 97 percent probability for the 525/550 bp range confirmation. In contrast, the 25 bps rise in the 550/575 bps target is priced at 3%.
On the bond front, new issues of 2-5-7 year Treasuries totaling USD148 billion are scheduled between today and tomorrow.
OPEC+ will also meet this week-specifically on Thursday-with producers having to come to terms on the extent of cuts in 2024, after the postponement of the meeting calendared for last week.
The FTSE Mib, therefore, is down 0.3 percent at 29,356.13.
In Europe, London's FTSE 100 is giving up 0.2 percent, Paris' CAC 40 is in the red with 0.1 percent, and Frankfurt's DAX 40 is down 0.2 percent.
Among the smaller lists, the Mid-Cap is in the red by 0.1 percent to 41,750.39, the Small-Cap is giving up 0.3 percent to 25,922.01, and Italy Growth marks a red by 0.4 percent to 7,853.93.
On the main list of Piazza Affari, Stellantis is giving up 0.9 percent, with new price at EUR18.62 per share.
Tenaris--declining 0.5 percent--reported Saturday that it purchased nearly 2.0 million of its own shares between Nov. 20 and Nov. 24. The shares were purchased at an average price of EUR15.4806 for a total value of EUR30.6 million.
Saipem - down 1.0 percent - announced on Monday the preliminary results of the buyback offer promoted by Saipem Finance aimed at holders of the EUR500.0 million bond, with a coupon of 2.625 percent and maturing on January 7, 2025. The maturity date of the offer - which began on Nov. 20 - was set at 1700 CET on Nov. 24, and a total amount of EUR120.1 million of bonds was submitted during the period.
Raised target price, by Jefferies, on Intesa Sanpaolo. For the Turin-based bank, the new target price rises to EUR3.90 from EUR3.70. The stock is currently moving just below the parity line.
Banca Monte dei Paschi advances 0.8 percent with new price at EUR3.01. For the Siena-based bank, on a monthly basis, assets thus rise more than 25 percent.
On the cadet segment, Ariston Holding is leading the price up 1.0 percent to EUR5.71 after Friday night's nearly flat session.
It is doing even better for Acea, which scores a plus 3.2% at EUR12.79 per share heading for the eighth session in a row to close on the bullish side.
Red for Antares Vision, which marks a minus 2.0% to EUR2.49 per share after the previous session's 0.8% green.
It does worse for Industrie de Nora, which marks a minus 3.2% after the 0.1% loss of the eve.
On the SmallCap, Triboo is advancing 5.6 percent to EUR0.7940 after falling 8.3 percent in the previous session.
Good buys also on Netweek, which brings the bar up 5.9% to EUR0.1695 on the heels of the 3.1% green in the last session.
Unidata, on the other hand, advances 3.3 percent, bringing the price to EURE40.70 after Friday night's 1.8 percent gain.
Among SMEs, Datrix brings the price up 8.7 percent to EURE2.50, following the previous session's 9.5 percent green.
Aton Green Storage, advances 4.3% bringing weekly assets over 19%.
Ambromobiliare also does well, marking a plus 3.9%, rebounding after three bearish sessions and setting the price at EUR1.60 per share.
Italian Wine Brands, on the other hand, gives up 4.1 percent, with the balance marking a loss of more than 38 percent since the beginning of 2023.
In New York on Friday, the Dow closed in the green by 0.3 percent, the Nasdaq fell 0.1 percent, and the S&P 500 picked up 0.1 percent.
Among currencies, the euro changed hands at USD1.0950 against USD1.0940 recorded in Friday's European stock close, while the pound was worth USD1.2622 from USD1.2606 on Friday evening.
Among commodities, the price of a barrel slows. Brent crude is worth USD79.09 per barrel from USD81.73 per barrel at Friday's close. Gold, on the other hand, trades at USD2,013.30 an ounce from USD2,000.41 an ounce Friday night.
On Monday's macro calendar from the U.S., space is given to data on permits to build, at 1400 CET, ahead of data on home sales by two hours.
By Maurizio Carta, Alliance News senior reporter
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