(Alliance News) - Piazza Affari is expected to usher in the new trading week on the upside, doing better than neutral estimates for other European indexes, on a day poor in macro events except for the People's Bank of China's rate decision.
On Monday, China's central bank cut a key interest rate in an attempt to counter the post-Covid growth slowdown in the world's second-largest economy.
The one-year primary lending rate, which serves as the benchmark for business loans, was cut to 3.45 percent from 3.55 percent, the People's Bank of China said in a statement, while the five-year LPR, which is used to rate mortgages, was left unchanged at 4.2 percent.
After the PBoC decision, in Asia, the Nikkei is up 0.3 percent to 31,554.47, the Shanghai Composite gives up 0.8 percent to 3,108.44 and the Hang Seng drops 1.7 percent to 17,643.53.
Futures give the FTSE Mib up 125.0 points or 0.5 percent after closing down 0.4 percent at 27,761.98 on Friday's session.
London's FTSE 100 is expected to be in parity as are Paris' CAC 40 and Frankfurt's DAX 40.
In Piazza Affari on Friday, the Mid-Cap gave up 0.5 percent to 41,284.34, the Small-Cap closed down 0.6 percent to 26,720.41 while the Italy Growth lost 0.3 percent to 8,854.38.
On the main index of Piazza Affari, in an almost competitively bearish list, Hera rose 1.2%, rearing its head again after four bearish sessions.
Good buying also on Terna, up 0.5 percent after two sessions closed lower.
At the bottom was Monte dei Paschi di Siena, down 4.0% and in its fourth bearish session in a row.
Also below was Saipem, which lost 2.4%, with price at EUR1.43 after a timid rise on the eve of the session.
Rear-ends also for Ferrari, which lost 1.6 percent. Of note, Bernestein raised its target price on the stock to EUR300 from the previous EUR250.
Tenaris, on the other hand, gave up 0.1 percent despite announcing that it has entered into a definitive agreement to acquire from Mattr 100 percent of the shares of its subsidiary Bredero Shaw International, which holds control of the pipe coating business worth USD166 million including working capital, on a cash-free and debt-free basis, subject to customary price adjustments.
On the Mid-Cap, among the few bullish performers was Eurogroup Laminations, up 1.4 percent to EUR5.43 after two sessions in the red.
Also doing well was MutuiOnline, up 1.8%, rearing its head after five sessions closed among the bearish.
Tod's, at the other end of the list, fell 2.6 percent, repeating the eve's red 2.0 percent.
Alerion, on the other hand, gave up 3.1 percent, trailing with new price at EUR26.65 per share after 0.2 percent green on eve.
Sales and rear ends also on Brunello Cucinelli, down 1.8%, repositioning the price in the EUR72.40 area.
On the Small-Cap segment, high quarters for BasicNet, up 2.3% after a 0.6% decline on eve.
Giglio Group, on the other hand, was up 9.8 percent to EUR0.62 after eve's contraction of 2.4 percent.
On the other side of the list, Autostrade Meridionali gave up 1.3% to EUR15.00, in its third session on the downside.
Rear-ends also for Fidia, which lost 5.8 percent after rising 4.9 percent on the eve.
Among SMEs, Datrix rose 5.0% after two sessions ended among the bearish.
At the tail end, E-Globe lost 5.4%, priced at EUR1.60 per share, in its fourth straight session on the bearish side.
Intred, on the other hand, rose 0.4 percent, in its fifth session closed on the upside.
Circle closed up 4.3 percent, after three sessions on the bearish side. The company on Wednesday disclosed the signing of a new contract with a leading European multimodal operator to support the development of innovative digital - including airport - and customs services. The value of the contract exceeds EUR510,000 and its duration is 18 months, with a clause for further automatic annual renewal.
In New York, the Dow Jones closed Friday up 0.1 percent at 34,500.66, the Nasdaq closed down 0.2 percent at 13,290.78, and the S&P 500 was virtually unchanged at 4,369.71.
Among currencies, the euro changed hands at USD1.0876 versus USD1.0875 in Friday's European equities close while the pound was instead worth USD1.2732 from USD1.2738 on Friday evening.
Among commodities, Brent crude is worth USD85.34 per barrel versus USD84.37 per barrel at Friday night's close. Gold, on the other hand, trades at USD1,887.71 an ounce from USD1,892.00 an ounce Friday night.
On Monday's U.S. economic calendar, a three- and six-month Treasury bond auction is scheduled at 1730 CEST.
On the corporate calendar in the Piazza Affari, no particular event is scheduled.
By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter
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