Mib closes higher; MPS does best of all

(Alliance News) - Piazza Affari closed the session leading up to the August break with a rise, placing the point bar above the 28,400 level, attempting a run-up from last week's losses, driven mainly by gains in the banking sector.

On Monday, in the CME Group platform's FedWatch Tool, using futures also based on the actual federal funds rate, or EFFR, the rate confirmation at the Sept. 20 meeting has a 91 percent probability for the 525/550 bps range confirmation. In contrast, the 25 bps rise in the 550/575 bps target is priced at 9%.

In this regard, it should be added how San Francisco Fed President Mary Daly said that the latest CPI numbers do not mean that the central bank can declare a victory on inflation. Indeed, it is reported that the dollar has confirmed its strength, with the Dollar index floating above the 103 area.

Thus, the FTSE Mib closed up 0.6 percent at 28,435.49.

In Europe, London's FTSE 100 closed in the red by 0.3 percent, Paris' CAC 40 closed just above par, and Frankfurt's DAX 40 was up 0.4 percent.

The Mid-Cap was in the green 0.2 percent to 42,004.26, the Small-Cap rose 0.2 percent to 26,917.04 while the Italy Growth closed up 0.1 percent to 8,917.50.

On the main index in Piazza Affari, Monte dei Paschi closed ahead of everyone, in the green by 6.3% with a positive balance for the fourth consecutive session.

Good purchases were also made on BPER Banca, which closed 2.7 percent up, and Banco BPM, which took home 1.4 percent.

Also on the highs was Interpump, which raised the bar by 2.2 percent.

Iveco Group closed in the rear, giving up 1.4 percent and marking its fourth consecutive bearish session.

Not far behind, CNH Industrial gave up 1.0% with price at EUR12.54.

On the Mid-Cap, Alerion rose 3.0%, rearing its head again after two bearish sessions.

Juventus, on the other hand, rose 2.5%. On Friday evening, it confirmed that it had reached an agreement with Genoa Cricket and Football Club Spa for the free temporary transfer, until June 30, 2024, of the rights to the sports performance of footballer Koni De Winter. The agreement, reads the club's note, provides for the obligation on the part of Genoa to permanently acquire the player's sports performance upon the achievement of certain sporting objectives during the 2023/2024 season and the right on the part of Genoa to permanently acquire the player's sports performance if those objectives are not achieved. The agreed consideration for the outright acquisition, in both cases, is EUR8 million.

Also doing well was illimity Vank, which rallied 1.7 percent, following Friday's green with 0.8 percent.

Among the bearish, MutuiOnline gave up 1.1 percent, with price at EUR26.85 per share, in its third bearish session.

Industrie de Nora, on the other hand, gave up 4.2 percent, after a 0.1 percent loss on Friday night.

On the Small-Cap segment, Autostrade Meridionali rose 5.0 percent after posting a minus 6.2 percent Friday night, the subject of profit taking after two sessions in which it accumulated assets of more than 16 percent. The company made it known Friday that, with reference to the recent stock market performance of its stock, it is not aware of any elements that could justify the upward changes that have occurred in the stock market since late July.

Instead, Sogefi closed ahead 3.5 percent at EUR1.2520, after a 2.3 percent loss in the previous session.

At the tail end, Triboo left 2.8 percent on the parterre, tacking down after four bullish sessions.

Among SMEs, Iervolino & Lady Bacardi closed ahead with more than 12 percent, up for the fourth consecutive session.

G Rent, on the other hand, took home 2.3 percent, after a 2.2 percent loss on the eve. The stock had previously come from four sessions among the bearish.

Clabo, on the other hand, gave up 4.1 percent, after a 0.5 percent loss on eve.

In New York, the Dow is just below par, the Nasdaq is advancing 0.7 percent, and the S&P 500 is marking plus 0.4 percent.

Among currencies, the euro changes hands at USD1.0921 versus USD1.0955 in Friday's European equities close while the pound is instead worth USD1.2689 from USD1.2696 on Friday evening.

Among commodities, Brent crude is worth USD86.44 per barrel versus USD86.73 per barrel at Friday night's close. Gold, on the other hand, trades at USD1,910.03 an ounce from USD1,913.89 an ounce Friday night.

Wednesday's economic calendar, at 0800 CEST comes UK inflation, at 1100 CEST it's the turn of Eurozone GDP and industrial production.

At 1300 CEST, from the US comes the mortgage market report, at 1515 CEST the industrial production figure is released, and at 1630 CEST the crude oil stocks figure

At 2000 CEST, however, the minutes of the FOMC meeting will be released.

Among companies, no particular announcements are scheduled.

By Maurizio Carta, Alliance News reporter

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