(Alliance News) - Monday ended with widespread gains on European stock exchanges, with banks leading the highest-capitalization index on the Milan Stock Exchange.
In any case, the trade war continues to dominate the news, even this week, and the future outlook remains bleak. Beijing has appealed to Washington to go beyond exemptions on electronic products and completely cancel reciprocal tariffs.
The Chinese president, Xi Jinping, is engaged in an Asian tour aimed at strengthening economic ties in this scenario. The trip began in Vietnam and will continue in Cambodia and Malaysia; before his departure, Xi Jinping met with the Spanish Prime Minister, Pedro Sánchez, in Beijing.
On Monday the FTSE Mib closed up 2.9% at 35,007.14, the Mid-Cap rose 2.5% to 47,139.87, the Small-Cap increased 2.7% to 27,679.84 and the Italy Growth index gained 0.7% to 3,757.75.139.87, the Small-Cap increased by 2.7% to 27,679.84 and the Italia Growth gained 0.7% to 7,548.41.
The London FTSE 100 closed up 2.0%, the Paris CAC 40 rose 2.6% and the Frankfurt DAX 40 closed up 2.9%.
In the blue chip segment, Telecom Italia led the Mib bulls with a 5.5% rise and a whopping 328.6 million shares changing hands.
At the end of last week, Exane BNP upgraded the stock to "outperform" from "neutral", raising the target price to EUR0.35 from EUR0.28.
The banks also did well, with BPM, Montepaschi and Mediobanca in good shape, with increases of between 5.2% and 4.8%.
Eni rose 2.4% after announcing on Monday that it had signed a memorandum of understanding with YPF, Argentina's state-owned energy company, to jointly evaluate a phase of the Argentina LNG project.
The agreement foresees the possibility of Eni's involvement in the development of upstream, transportation and gas liquefaction infrastructures through two Floating LNG units of 6 million tons per year each, for a total of 12 MTPA.
UniCredit closed up 4.0% after obtaining authorization from the German Federal Competition Authority, Bundeskartellamt, to increase its direct stake in Commerzbank to 29.99% of the share capital and voting rights.
Amplifon was the only blue chip to close in negative territory, down 1.6%, with over 1.2 million shares traded.
On the Mid-Cap, MAIRE rose by 4.6% after Fabrizio Di Amato was confirmed as chairman of the board and the board itself assigned him the powers due to the role.
The board of directors then confirmed Alessandro Bernini as CEO and general manager, while the board of statutory auditors will be composed of Raffaella Annamaria Pagani, Pietro Carena and Andrea Bonelli.
In addition to Di Amato and Bernini, the board of directors also includes Luigi Alfieri, Valentina Casella, Paolo Alberto De Angelis, Cristina Finocchi Magne - also appointed lead independent director -, Stefano Fiorini, Isabella Nova and Michela Schizzi.
Salvatore Ferragamo lost 2.6% to EUR5.1850 per share after JPMorgan cut its target price for Salvatore Ferragamo to EUR4.80 from EUR5.30 with the stock 'underweight'.
Among small caps, Fidia leads the way with a 32% increase, but with the unit value of the shares still well below one cent.
Seri Industrial did well, up 14%, as did Olidata, which gained 11% before the publication of its accounts.
Bastogi, which presented its accounts close to the end of the year, lost 3.3%.
The first listed company in Italy closed 2024 with a net profit of EUR6.8 million, up from EUR2.8 million. The board of directors will propose the distribution of a dividend of EUR0.0068, compared to EUR0.0045 in 2023.
During the year, the entertainment sector showed an increase in revenues of EUR 6.4 million.
Among the SMEs, TrenDevice rose by more than 31%, recording the most marked increase on the list, with a good 225,000 units changing hands.
Impianti follows with an increase of 8.5% after the shareholders appointed the members of the committee, which will be chaired by Simona Castelli. The board also includes Simone Lo Russo - later appointed CEO -, Lucrezia Toscana, Giulio Segurini and the independent Simonetta Santinello.
The board of statutory auditors will include Christian Giuseppe Viceconte (chairman), Alessandro Borsetto and Alessandro Marco Colombo. The alternates are Giovanni Laghezza and Daniela Scalvinoni.
On the recommendation of the board of statutory auditors, the shareholders' meeting also appointed KPMG as the company's independent auditor for a period of three financial years, i.e. until the approval of the financial statements for the year ending December 31, 2027.
In New York, the Dow Jones rose 0.7% to 40,509.06, the Nasdaq was up 0.9% to 16,873.84 while the S&P 500 gained 0.9% to 5,413.05.
Among currencies, the euro changed hands at USD1.1372 from USD1.1348 on Friday when European stocks closed. The pound, on the other hand, was worth USD1.3181 from USD1.3055 on Friday evening.
Among commodities, Brent crude is worth USD65.22 per barrel, up from USD63.61 per barrel on Friday at the close of trading in Europe. Gold is trading at USD3,213.14 per ounce, down from USD3,253.29 per ounce on Friday evening.
Tuesday's macroeconomic calendar opens with UK retail sales for March at 0101 CEST.
At 0800 CEST, in the UK, data on wages and the unemployment rate will be presented. At the same time, in Germany, wholesale prices will be released.
At 0845 CEST, in France, the consumer price index will be published, while at 1000 CEST it will be the turn of the IEA monthly report and, at the same time, the European Central Bank's bank lending survey; an hour later, in the UK, the 10-year UK Treasury bond auction will be held.
The ZEW index for the German and Eurozone economy will be released at 1100 CEST, together with data on industrial production in the Eurozone.
At 1430 CEST, in the USA, eyes on import and export indexes.
The calendar of companies listed on the Italian Stock Exchange, on the other hand, includes the annual results of Bialetti Industrie, Class Editori, Itway, OVS, Risanamaneto and Svas Biosana, among others.
By Angelo Boccato, Alliance News reporter
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