(Alliance News) - The Mib index moves bullish Tuesday, surpassing 28,000 points, in position for the second session to close in the black. Trading rooms are carefully evaluating economic data, waiting for the one on US inflation expected Wednesday that will influence, surely, the Federal Reserve's monetary policy.
As data from the Fred platform, run by the St. Louis Federal Reserve in the latest available survey of July 10, the average U.S. inflation expectation for the next five years - with the 5-year forward inflation expectation rate - as measured in the U.S. sovereign bond market, is moving on the value of 2.31 percent, stable on the previous survey. Also on inflation expectations, the 5-year breakeven marks a value of 2.19 percent, from 2.22 percent in the previous survey.
On the domestic data front, industrial production in Italy rebounded 1.6 percent month-on-month in May, the first increase in five months, exceeding market forecasts of a 0.7 percent increase.
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Thus, the FTSE Mib, marks a 0.5 percent rise to 28,013.26.
In Europe, London's FTSE 100 is giving up 0.4 percent, Paris' CAC 40 is advancing with 0.7 percent, while Frankfurt's DAX 40 marks a green of 0.2 percent.
Among the smaller listings, the Mid-Cap is in the green by 0.5 percent at 42,471.75, the Small-Cap is in the green by 0.1 percent at 26,729.88 while Italy Growth is in the red by 0.1 percent at 9,073.23.
On the main index in Piazza Affari, boost on Moncler, which moves ahead 2.1% in its third bullish session.
Good buying also on ERG, which scores a plus 1.8%, with new price at EUR27.06 after eve's 1.0% decline. Of note, Stifel began coverage on the stock with a target price of EUR33.80 per share.
Goldman Sachs, on the other hand, raised Ferrari's target price to EUR288 from EUR260 per share. The stock currently gives up 0.4 percent.
Boost on Banca Monte dei Paschi, which advances 1.6 percent to EUR2.36 per share positioning itself for the third session in a row to close on the bullish side.
UniCredit continues with its buyback plan. Most recently on Tuesday it announced that -- from June 30 to July 7 -- it bought back, as planned, a total of 281,500 treasury shares worth about EUR6.0 million. The shares fluctuate slightly down with 0.3 percent.
On the cadet segment, Sanlorenzo advances 2.2 percent with price at EUR37.20 per share.
In contrast, Zignago Vetro advances 2.0% with new price at EUR15.14 after eve's decline.
Carel Industries, on the other hand, advances 2.0% after eve's contraction of 1.1%.
Good buys also on Brunello Cucinelli, which marks a plus 1.2% on its third session among the bullish.
Salvatore Ferragamo trades in the red by 0.3% at EUR14.67. On the stock it is reported that Citigroup raised the target price to EUR16.20 from EUR18.00 'Neutral' rating.
On Small-Cap, Itway advances 5.7 percent with new price at EUR1.93 per share.
algoWatt marks a plus 2.9% at EUR0.5350, rearing its head again after two bearish sessions.
High quarters also for Seri Industrial, which marks a plus 3.4 percent at EUR4.6750 in its third session on the bullish side.
On a negative note, Alkemy is giving up 3.5 percent, with new price at EUR10.94 per share.
Sales are also pushing Softlab to the rear, down 3.4 percent after eve's green with 4.1 percent.
Among SMEs, finally, Clabo advances 3.0% to EUR2.06. The stock-which has not detached its dividend since 2017-signs up about 3.3% on the weekly.
Askoll Eva, on the other hand, rises 8.0% to EUR0.54 per share. The stock trades high, at nearly 159,000 compared to a three-month daily average of about 23,000.
Bellini Nautica, on the other hand, gives up 2.0%, after two sessions closed with a positive balance.
In the rear, Alfonsino gives up 3.7 percent to EUR0.72 per share, while High Quality Food retreats 5.1 percent.
In New York on European night, the Dow closed in the green by 0.6%, while the Nasdaq up 0.2% on par with the S&P 500.
Among currencies, the euro changed hands at USD1.1015 versus USD1.0985 on Monday's European stock close, while the pound was worth USD1.2888 from USD1.2827 on Monday night.
Importantly, regarding Her Majesty's currency, point out that the unemployment rate unexpectedly rose to 4 percent and the increase in employment was lower than expected.
Bank of England Governor Andrew Bailey said Monday that the Bank of England must "get the job done" to reduce the inflation rate, suggesting the continuation of the central bank's aggressive campaign to tighten monetary policy.
Among commodities, Brent crude is worth USD77.92 per barrel versus USD78.35 per barrel at Monday's close. Gold, meanwhile, trades at USD1,930.40 an ounce from USD1,922.55 an ounce on Monday evening.
Tuesday's economic calendar in the evening from the U.S. weekly oil stocks will come out at 2230 CEST.
By Maurizio Carta, Alliance News reporter
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