(Alliance News) - Major European stock markets are headed for a downward opening on Monday, according to IG Futures, as investors choose the cautious route ahead of key economic data this week.

Thus, the FTSE Mib is expected down 0.1 percent or 32.5 points after closing in the green 1.1 percent at 32,700.92,

In Europe, London's FTSE 100 is expected to be in the red by 0.1 percent or 10.5 points, as is Frankfurt's DAX 40, which is down 0.1 percent or 24.3 points, and Paris' CAC 40, also given down 0.1 percent or 11.2 points.

"Investors' attention will gently shift this week from earnings to economic data," comments Ipek Ozkardeskaya, Senior Analyst at Swissquote Bank. "The U.S. economy has been resilient, and the latest uptick in CPI data has helped investors understand that the Fed will not cut rates before the summer. The Fed's first cut is scheduled for June, with a probability of just under 70 percent, and the Fed is seen cutting rates by 80 bp this year."

"Also this week," the analyst continues, "the latest U.S. GDP update, due Wednesday, is expected to confirm 3.3 percent growth in the fourth quarter, with a significantly lower price index. On Thursday, by contrast, PCE data should confirm relatively soft data-softer than the CPI, probably due to the different weighting the index gives to different categories of goods and services. In all cases, strong growth could revive optimism if inflation numbers continue to fall. For the market rally to continue, we just need strong growth and not too much inflation data from the U.S."

Among Italy's smaller lists, the Mid-Cap gained 0.4 percent to 46,012.58 on Friday evening, the Small-Cap gave up 0.1 percent to 27,937.34, and Italy Growth finished up 0.2 percent to 8,191.20.

On the Mib, the banking sector did well, with Banco BPM taking the top spot by rising 5.4 percent, followed by Mediobanca, up 5.2 percent, and Generali Assicurazioni and Banca Generali picking up 3.3 percent and 2.7 percent, respectively.

Tenaris rose 1.9 percent after announcing results for the fourth quarter and year ended Dec. 31, a year that ended with a 5 percent increase in revenues on a sequential basis, "supported by a high level of shipments to the Middle East and for offshore pipeline projects," the company wrote in the note.

Total sales for 2023 were USD14.86 billion from USD11.76 billion in the previous year.

Ferrari closed in the green by 1.5 percent after it announced Thursday a new global partnership with L'OR Espresso, a brand of JDE Peet's group, a leading global coffee and tea company.

Recordati rose 2.2 percent after it reviewed and approved preliminary consolidated results for fiscal year 2023, which closed with a net income of EUR389.2 million, up 25 percent from 2022, driven by strong operating performance and lower nonrecurring costs compared to 2022. This figure, moreover, has a revenue margin of about 19 percent.

Consolidated net revenues in 2023 were EUR2.08 billion up 12 percent from 2022, in line with the upper end of the guidance range revised upward last May, thanks to "excellent business performance in both the Specialty & Primary Care and Rare Diseases segments, which continue to post double-digit growth, at constant exchange rates," the note said.

At the bottom ended Campari, in the red by 2.0 percent, preceded by STMicroelectronics, down 1.7 percent, and FinecoBank, which, bucking the trend of the other banks, closes the podium with a 0.9 percent loss.

On the cadet segment, Brembo - in the green by 1.3% - announced Thursday that it has opened its first production site in Thailand.

The investment of about EUR40 million reflects the group's strategy to expand its industrial presence globally and allows Brembo to seize new growth opportunities in Southeast Asia, the company explained in a note.

Maire Tecnimont gave up 1.9 percent after it announced Wednesday that NextChem, through its subsidiary NextChem Tech, has signed a binding agreement to acquire 80 percent of HyDEP Srl and 100 percent of Dragoni Group Srl.

The purchase price for the two shares is approximately EUR3.6 million.

Ariston Holding -- in the red by 1.9 percent -- on Thursday announced that it had finalized an agreement to acquire a production site located in the October 6 Municipality Industrial Park near Cairo, Egypt, from Universal Group, a historic Egyptian manufacturing company founded by Youssri Kotb.

Among the smallcaps, Openjobmetis--down 0.3 percent--reported Friday that Groupe Crit has signed preliminary contracts to take over a significant stake in the same company.

In detail, Crit, at a price of EUR16.50 per share, will take over Plavisgas, holder of 34.1 percent of Openjobmetis, and 18.5 percent of the company's capital from Omniafin and 5.2 percent from MTI Investimenti. The closing of the acquisitions is subject to the required authorization under the golden power.

Following the deals, Crit will hold 57.7 percent of Openjobmetis, on which it will launch a tender offer at EUR16.50 per share.

TXT e-solutions gained 4.3 percent after announcing Thursday that as of Dec. 31 it had revenues of EUR224 million, up about 48 percent from EUR150.8 million in 2022. On a like-for-like basis, revenues grew by about 12 percent and acquisitions contributed about EUR56 million. Total international revenues accounted for about 20% of total revenues in 2023, the company says.

Ebitda was about EUR31.5 million or 14 percent of revenues, up about 42 percent from ER22.3 million in 2022.

Among SMEs, Talea Group - in the red by 5.1 percent - on Thursday approved consolidated revenue figures for 2023, closed with adjusted consolidated revenues stood at EUR136.3 million, up 13 percent from EUR120.9 million in FY2022.

Consolidated unadjusted revenues were EUR131.4 million compared to EUR116.3 million in 2022.

Matica Fintec rose 1.6 percent after it reported unaudited preliminary consolidated results as of Dec. 31 on Thursday, reporting net income of EUR2.2 million, compared to EUR2.6 million as of Dec. 31, 2022.

Vimi Fasteners - in the red by 3.2 percent, reported Wednesday that it reported revenues of EUR61.3 million in 2023, up 15 percent from EUR53.3 million as of Dec. 31, 2022.

The Vimi group's order backlog as of Dec. 31 also increased, covering the full year 2024 and amounting to EUR39.2 million, up from EUR37.7 million in backlog at the end of 2022.

In Asia, the Nikkei closed up 0.3 percent to 39,208.50, the Hang Seng was down 0.5 percent to 16,644.00 and the Shanghai Composite was in the red 0.3 percent to 2,977.02.

In New York, the Dow closed Friday in the green 0.2 percent to 39,131.53, the Nasdaq gave up 0.3 percent to 15,996.82 and the S&P 500 closed in the fractional green at 5,088.80.

Among currencies, the euro changed hands at USD1.0830 against USD1.0825 recorded at Friday's European stock close, while the pound was worth USD1.2668 from USD1.2669 on Friday evening.

Brent crude is worth USD81.46 per barrel versus USD82.33 per barrel at Friday's close. Gold, on the other hand, trades at USD2,034.26 an ounce from USD2,044.15 an ounce Friday night.

Monday's macroeconomic calendar opens at 0900 CET with data on the producer price index in Spain.

Overseas, at 1400 CET comes data on building permits and building permits in the US and half an hour later Canadian manufacturing sales.

At 1600 CET, it is the turn of new home sales for January in the US.

Among companies listed on the stock exchange, Omer's results are expected.

By Chiara Bruschi, Alliance News reporter

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