(Alliance News) - On Monday, the index the Piazza Affari bluechip index closed in the positive around 28,800, recovering in the final stretch after a session spent almost entirely with a minus sign. Trading rooms, in general, continue to assess "aggressive" comments by ECB members with respect to the prospects of a less aggressive Federal Reserve and China's economic recovery.

On this point, it is mentioned how ECB Governing Council member Klaas Knot said it is "too early to tell" whether the ECB might slow the pace of its rate hikes by the summer, adding that it would be appropriate for interest rates to be raised by 50 basis points in February and March and that they should continue to be raised in the months thereafter.

Prime Minister Giorgia Meloni flew to Algeria for her first official bilateral meeting abroad. At the center of the meeting are issues concerning gas, energy and industrial development. The goal is to lay one of the first bricks of the Mattei Plan, the premier's idea of collaboration with African countries to make Italy a Mediterranean energy hub. However, Eni's stock - a key player in the deal - closed down 0.4 percent.

The FTSE Mib, therefore, closed trading in the green by 0.2 percent at 25,821.45.

In Europe, London's FTSE 100 rose 0.2 percent, Paris' CAC 40 in the green by 0.5 percent as did Frankfurt's DAX 40.

Among Italy's smaller lists, the Mid-Cap closed up 0.9 percent to 43,184.81, the Small-Cap gained 0.6 percent to 29,766.51, and Italy Growth finished in the green 0.2 percent to 9,562.44.

On the main list in Piazza Affari, good buying on Intesa Sanpaolo, with the stock closing up 2.7 percent. UBS raised its target price on the stock to EUR2.70 from EUR2.60.

Also buying session on STMicrolectronics, which closes up 2.6 percent to EUR39.06.

Enel, on the other hand, gives up 3.3 percent, at the ex-dividend and ending for the third session in a row on the bearish side.

Also going under, among others, is Snam, which contracts for the third session in a row also struggling with "dividend-day." The stock gave up 2.7 percent.

On the Mid-Cap, Juventus FC gives up 5.1 percent after the 15-point penalty collected Friday night by the Federcalcio's federal appeals court.

As Francesco Bonazzi explains in Alliance News, "that of sports justice does not directly impact the club as much as the criminal one, which questions the correctness of financial statements and communications to the market, but can depress the club's turnover in case of relegation or exclusion from the European cups. Within ten days, the reasons for Friday night's verdict will be announced, and Juventus will have 30 days to file an appeal.

Technogym, on the other hand, gives up 3.0% to EUR8.48. On the stock it is reported that Stifel downgraded the stock to 'hold' from 'buy,' with a target price at EUR8.50

Maire Tecnimont - up 1.6 percent - on Monday announced its expansion, through its subsidiary NextChem Holding, into the markets for high value-added derivatives and biodegradable plastics intermediates with the acquisition of an 83.5 percent stake in Conser, a Rome-based proprietary technology and process engineering company.

Credem, on the other hand, rose 5.1 percent on the heels of Friday's 4.6 percent gain. Unusual trading volume is reported on the stock, with more than 895,000 traded versus a three-month daily average of just over 207,000.

On the Small-Cap, the buy side prevails on I Grandi Viaggi, which closes up 3.3 percent. Of note, the company reported last week that the board approved the draft financial statements to Oct. 31, 2022 and reviewed the group's consolidated results between Nov. 1, 2021 and Oct. 31, 2022, reporting a net loss of EUR140,000 from a net loss of EUR1.4 million as of Oct. 31, 2021.

Cia loses ground, giving up 0.3 percent after much of the session in the positive and ending for the third session in the negative.

On the other hand, ePrice gives up 4.3 percent, although it should be noted that the share price is EUR0.0135.The stock-which has not detached its dividend since 2017-shows annual volatility at 115.

Enervit equally retreats by 4.3%. The stock registered volume of more than 29,000, compared with the daily average for the past three months of about 3,500.

Among SMEs, however, Allcore steps up 6.2 percent to EUR2.15.

Alfonsino rises more than 12 percent to EUR1.17. The stock shows unusually high volume, with more than 459,000 pieces traded against a three-month daily average of about 37,000. Last week the company reported revenues of EUR4.6 million in 2022, up 17 percent from EUR3.9 million a year earlier. Orders, on the other hand, rose 20 percent year-on-year to 550,000.

Among the bearers, DHH gives up 4.5 percent instead, bringing its price to EUR14.80. The stock - on the MarketScreener platform - is listed as neutral in the short, medium and long term.

In New York, the Dow Jones is up 0.9 percent, the S&P is up 1.3 percent while the Nasdaq is in the green by 2.0 percent.

Among currencies, the euro changes hands at USD1.0860 versus USD1.0836 at Friday's close. In contrast, the pound is worth USD1.2365 from USD1.2375 on Friday evening.

Among commodities, Brent crude is worth USD88.64 per barrel from USD86.80 per barrel Friday night. Gold, on the other hand, trades at USD1,922.18 an ounce from USD1,925.38 an ounce last session.

On Tuesday's economic calendar, at 0600 CET will come Japanese inflation, at 0800 CET the GfK report on German consumer sentiment while, as for PMIs, the French composite will be released at 0915 CET and 15 minutes later will come the German one, half an hour before the Eurozone figure and an hour before the British one.

At 1545 CET, focus on the manufacturing and services PMI from the US. The day closes at 2230 CET with weekly oil stocks from the States.

It should be noted that stock exchanges in China and Hong Kong will be closed for Chinese New Year.

On the corporate calendar, however, the results of Energy, Finlogic, Grifal, and Italian Sea Group are expected.

By Maurizio Carta, Alliance News reporter

Comments and questions to redazione@alliancenews.com

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