(Alliance News) - On Monday, the Mib is expected to rise, according to IG futures, with other European markets trailing after Friday's release of important macro from the U.S., which unveiled rising inflation, personal spending up 1.8 percent in January and the University of Michigan's consumer sentiment index at 13-month highs in February.

The week thus begins on a cautious note as Federal Reserve rate hike expectations intensify the sell-off in global stocks and bonds while pushing the U.S. dollar higher.

"We knew from earlier releases that inflation in the U.S. would not slow as much as expected, but Friday's PCE data showed that not only did inflation not slow, but the headline figure rose to 5.4 percent from 5.3 percent the previous month, and core inflation rose to 4.7 percent from 4.6 percent the month before. The latter fueled the Fed's expectations for a rebound, because a slower-than-expected inflation slowdown is one thing, but an inflation rebound is another. An inflation rebound is the Fed's worst nightmare," commented Ipek Ozkardeskaya, Senior Analyst at Swissquote Bank.

Thus, the FTSE Mib is expected to open up 155.0 points or 0.6 percent after closing, Friday, down 1.1 percent at 26,986.35.

In Europe, London's FTSE 100 is expected to open up 21.8 points or 0.3 percent, Paris' CAC 40 is expected up 9.3 points or 0.1 percent, and Frankfurt's DAX 40 is given in the red 3.5 points or down 0.02 percent.

Among Italy's smaller lists on Friday, Mid-Cap closed 0.4 percent in the red at 44,344.09, Small-Cap gave up 0.5 percent to 29,893.15, and Italy Growth finished on the parity line at 9,542.36.

On the Mib on Friday, Telecom Italia closed well -- in the green by 1.4 percent -- after saying on the non-binding offer submitted by KKR to buy a stake in a constituent company to which the management and infrastructure perimeter of the fixed network, including FiberCop's assets and activities, as well as the stake in Sparkle, would essentially belong, that it expects to "receive an improved offer by the deadline of March 31, 2023."

Stellantis gave up 2.1 percent, after letting it be known that Thierry Koskas is the new Citroën brand ceo and director of sales and marketing effective March 1, 2023.

The rest of the Agnelli galaxy also finished in the red with Ferrari down 0.9 percent, Iveco h aced 2.6 percent, and CNH Industrial down 1.9 percent.

Despite the results Pirelli ended at the bottom, down 3.8%. Revenues in 2022 were EUR6.62 billion, above the target of EUR6.5 billion and up 24% from 2021, when they were EUR5.33 billion. Net income in 2022 was EUR435.9 million, up 36 percent from EUR321.6 million in 2021.

In the green - among the few - were ERG up 1.7 percent, A2A up 0.3 percent, Terna up 0.4 percent, and Saipem up 1.9 percent.

On the cadet segment, Tinexta -- in the red by 0.9 percent -- and 24Ore Business School on Thursday let it be known that they have formed a strategic partnership to structure an educational offering dedicated to the corporate world.

"This partnership involves the creation of digital training content with high added value on the main themes of innovation, with the aim of guiding and accelerating integrated learning paths to support the growth of Italian companies," the companies explained in a note.

doValue gave up 7.9 percent after reporting Thursday its main results for the year ended Dec. 31, 2022, reporting a net profit including nonrecurring items of EUR16.5 million from EUR23.7 million in the same period of 2021 and marking a decline of more than 30 percent.

"The contraction is mainly attributable to the negative impact of the earn-out due from doValue to Eurobank in connection with the acquisition of doValue Greece, as well as higher taxes, partially offset by Ebitda growth, lower D&A, lower provisions for risks and charges, and lower interest expenses," the company explained in a note.

On the Small-Cap segment, Autostrade Meridionali closed in the green by about 13 percent after announcing Thursday that it had approved results as of Dec. 31, reporting a profit for the period of EUR15.8 million from EUR16.0 million in the same period last year.

Revenues for 2022 amounted to EUR34.0 million from EUR89.9 million as of Dec. 31, 2021, down 62 percent.

Ebitda stood at EUR22.4 million from EUR29.8 million in 2021 as of Dec. 31, down 25 percent.

Sogefi closed down 8.9 percent after announcing on Friday that it had approved results for 2022 operations, reporting a net income as of December 31, 2022 of EUR29.6 million, compared to EUR2.0 million in 2021, or EUR26.4 million without taking into account the accounting loss caused by the sale of Filtration Argentina.

Revenues for 2022 amounted to EUR1.55 billion, up about 18 percent from the same period in 2021, when they were EUR1.32 billion.

The board of directors of Alkemy -- in the green by 0.8 percent -- announced Thursday that it had reviewed the group's consolidated revenues and operating EBITDA as of Dec. 31, 2022, reporting a 10 percent growth in the former compared to the same period last year.

Specifically, consolidated sales stood at EUR105.0 million from EUR95.2 million as of Dec. 31, 2021 due to the group's change in scope during the year and organic business growth.

Among SMEs, Laboratorio Farmaceutico Erfo ended in the red by 3.4 percent, after reviewing its key consolidated economic and financial operating data as of December 31, 2022, and reported pro-forma revenues of EUR6.0 million, up about 18 percent from EUR5.1 million as of December 31, 2021.

Consolidated revenues were EUR5.0 million, in line with 2021.

Omer, on the other hand, rose 4.4 percent, Friday, after reviewing preliminary consolidated figures as of Dec. 31, 2022 reporting a value of production of EUR63 million, up about 10 percent from EUR57.1 million in consolidated 2021.

This change, the company explained, "is attributable both to the increase in production accruals of projects currently underway, and for which the related price revisions resulting from the contractually stipulated formulas have been taken into account, and to the start-up during the year of some new production projects."

The value of production was 56 percent in Italy, 20 percent in France, 9 percent in Germany, 7 percent in the U.S. and the remaining 8 percent in other countries.

MeglioQuesto's board of directors - up 0.1 percent - on Thursday evening reviewed the main consolidated and consolidated pro forma operating and financial data as of December 31, with production value in the range of EUR78.0 and EUR81.0 million, a double-digit increase of no less than 20 percent from the 2021 figure of EUR62.5 million.

Among Asian exchanges, the Hang Seng is giving up 0.4 percent, the Shanghai Composite lost 0.3 percent, and the Nikkei closed in the red by 0.1 percent.

In New York--on Friday night--the Dow closed 1.0% in the red, the Nasdaq down 1.7%, while the S&P 500 closed 1.1% in the red.

Among currencies, the euro changed hands at USD1.0548 versus USD1.0546 at Friday's close. In contrast, the pound is worth USD1.1951 from USD1.1946 on Friday evening.

Among commodities, Brent crude is worth USD82.56 per barrel versus USD82.08 per barrel Friday night. Gold, on the other hand, trades at USD1,809.22 an ounce from USD1,817.45 an ounce at Friday's close.

On Monday's macroeconomic calendar, at 1000 CET Italian business confidence is expected and at the same time M3 money supply and loans to individuals in the Eurozone.

At 1100 CET it is the turn of consumer confidence in the Eurozone and service sector sentiment.

Overseas, in the afternoon at 1430 CET comes data on major durable goods orders and orders for goods excluding the airline and defense sectors.

Among companies listed on the Italian Stock Exchange, results from Saipem and Technoprobe are expected.

By Chiara Bruschi, Alliance News reporter

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