Mib and Europeans in the green; STM and Amplifon at the top

(Alliance News) - On Monday, major European indexes close the first session of the week in positive territory with buying prevailing sharply.

Piazza Affari touches close to 34,800 and the Paris Stock Exchange does best of all, on a day packed with macroeconomic data for Europe, while overseas positive PMI data for the U.S. drive indexes in New York.

"Stocks posted solid gains around the world today on hopes that the future U.S. administration will take a more targeted approach on tariffs than feared. Today's rebound reminds investors that they are entering a world dominated by Trump. Once the new president takes office on Jan. 20, we can expect many more days similar to this one," says Chris Beauchamp, chief market analyst at online trading platform IG.

Currencies, including the euro and the pound, have also rebounded after weeks of selling, but the overall picture continues to favor a rising dollar, according to IG's analyst.

The FTSE Mib closed Monday up 1.9 percent to 34,780.81, the Mid-Cap rose 0.9 percent to 48,154.56, the Small-Cap ended up 0.6 percent to 28,631.94, and Italy Growth gained 0.7 percent to 8,000.34.

In Europe, London's FTSE 100 closes in the green by 0.3 percent, Paris' CAC 40 up 2.2 percent and Frankfurt's DAX 40 gains 1.5 percent.

On the macroeconomic front, in Germany, according to preliminary estimates released Monday by the Federal Statistical Office, the annual inflation rate accelerated for the third consecutive month, reaching 2.6 percent in December from 2.2 percent in November and exceeding market forecasts of 2.4 percent.

In the U.S., the S&P Global services PMI index was revised downward to 56.8 in December from the preliminary estimate of 58.5, but still remains higher than November's 56.1, indicating the strongest growth in the services sector since March 2022.

During the same period, the U.S. S&P Global composite PMI index rose to 55.4, up from 54.9 in November, marking the fastest growth since April 2022.

Also in the U.S., new orders for manufacturing goods fell 0.4 percent month-on-month in November, while those in durable goods sectors were down 1.2 percent. In contrast, orders for manufacturers of non-durable goods rose 0.4 percent.

Meanwhile, employment grew for the first time in five months, although the increase remained small.

On the highest-capitalization list in Piazza Affari, STMicroelectronics did best of all, rising 7.9 percent, rebounding after recent declines, buoyed by positive expectations on financing in artificial intelligence.

Also doing well were Amplifon, up 5.5 percent, and Moncler, up 4.6 percent.

Iveco Group - up 3.8 percent - reported that ownership of Magirus GmbH and its firefighting subsidiaries has been transferred to Mutares SE & Co. KGaA, according to the terms of the agreement described in March last year.

Mediobanca gains 2.2 percent. Mediobanca Premier launched the Amundi Eltif Agritaly Pir III Lux fund, focused on the Italian agribusiness sector, which offers tax benefits such as exemption from capital gains and inheritance taxes if regulations are met.

This fund, operational since 2021 and with assets under management of EUR125 million in mid-2024, has already supported realities such as the Miscusi and Pistacchio chain through direct investments.

Italian agribusiness, valued at EUR335 billion, offers ample opportunities, particularly in private markets, where many companies are not listed. The initiative is strategic for Mediobanca, which aims to strengthen its asset management platform by 2026.

Banking stocks do well, with UniCredit ending up 3.1 percent, Banco BPM gaining 2.3 percent, Intesa Sanpaolo closing up 2.1 percent, Banca Mediolanum advancing 2.1 percent, BPER Banca rising 1.8 percent, and Banca Popolare di Sondrio in the green 1.2 percent.

Banca Monte dei Paschi di Siena closes in the green by 2.4 percent. As Milano Finanza reported Monday, for the year just ended, the estimate is for a pre-tax profit of more than EUR1.3 billion and dividends of more than EUR950 million, with a payout ratio increased from 50 percent to 75 percent.

There are only five bearish stocks on the main list, with Snam retreating 0.1 percent, Terna in the red 0.3 percent, Italgas closing down 0.5 percent, and Hera ending down 0.8 percent as well as A2A.

On the Mid-Cap, Technoprobe rises 7.5% and records the sharpest rise, with nearly 500,000 shares traded.

At the bottom, Juventus FC drops 6.8% after losing to AC Milan in the Italian Super Cup semifinal, thus forgoing a higher prize from the competition.

Philogen rises 2.7 percent. Shortly before Christmas, the company announced that it had approved a new share buyback plan that may target a maximum of 250,000 shares and a maximum outlay of EUR5 million.

Tinexta - in the green by 3.8 percent as well as Banco di Desio e della Brianza.

Webuild - in the green by 4.2 percent - announced Monday the opening to the public of the Orange Line - Line 3 - of the Riyadh Metro, part of one of the world's largest urban mobility infrastructure projects.

On the Small-Cap, Netweek gives up 6.1 percent and ends at the bottom of the list.

Eurotech and EPH fly, with rises of 26% and 14%, respectively.

Geox ends in the red by 1.4 percent. Helikon Long Short Equity Fund Master raised its short position on the stock to 0.92 percent from 0.88 percent previously.

On the alternative capital market of Borsa Italiana, Edgelab's good time ends as it closes down 16 percent at EUR7.40 per share.

Double-digit rises for Vantea SMART and La Sia, up 22% and 18%, respectively.

In New York, the Dow is up 0.9%, the Nasdaq gains 1.8%, and the S&P 500 is in the green by 1.3%.

Among currencies, the euro changes hands at USD1.0394 versus USD1.0286 at Friday's European equities close. The pound is worth USD1.2523 from USD1.2409 on Friday evening.

Among commodities, Brent is worth USD76.80 per barrel from USD76.47 per barrel at Friday's close. Gold trades at USD2,651.06 an ounce from USD2,652.99 an ounce Friday evening.

Tuesday's macroeconomic calendar opens at 0101 CET with retail sales data in the UK; then at 0800 CET house prices will be released, also in the UK; at 0845 CET the inflation figure in France is expected.

At 0930 CET the construction PMIs for Italy, Germany, France and the Eurozone will be released while at 1000 CET the unemployment rate in Italy will be published; at 1030 CET the UK construction PMI is scheduled; at 1100 CET inflation data in Italy and the Eurozone will arrive.

In the afternoon, at 1430 CET, the US trade balance will be published followed at 1600 CET by JOLTs new jobs report.

The day closes at 2230 CET with data on US crude oil stocks.

Among the companies in the Piazza Affari, no particular events are expected.

By Antonio Di Giorgio, Alliance News reporter

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