(Alliance News) - On Monday, Piazza Affari is expected to rise slightly along with other European stock markets, after Friday's U.S. employment data "soothed the mood of the Federal Reserve doves."

"Both NFP and the unemployment rate and wages," comments Ipek Ozkardeskaya, senior analyst at Swissquote Bank, "showed a slowdown in the labor market in April. The Fed may not be able to cut interest rates right away, but it has a better chance of doing so a little earlier than expected early last week. The odds of a September rate cut have risen to more than 67 percent, although September would be a politically inconvenient time for the Fed to start cutting rates, since the presidential election is around the corner and no one at the Fed wants to be fingered for manipulating the results."

In Milan, therefore, according to IG futures, the FTSE Mib is expected to open up 0.1 percent or 49.2 points after closing down 0.3 percent at 33,629.21.

In Europe, with London closed for Bank holiday, Paris' CAC 40 is given in the green by 0.2% or 15.5 points and Frankfurt's DAX 40 is expected to rise 0.2% or 40.5 points.

In terms of the day's macroeconomic data, pending this morning's European PMIs, from China came the Caixin index for the services sector, which fell to 52.5 in April from 52.7 in March meeting forecasts, and the Caixin index for the private sector, which stood at 52.8 in April, up slightly from 52.7 in the previous month.

Meanwhile, in the early morning hours, the Israeli army let it be known that it had begun evacuating from the eastern Rafah area -- for now about 100,000 people -- ahead of a planned ground assault in the southern city of Gaza.

Among Italy's minor listings Friday evening, the Mid-Cap rose 0.1 percent to 47,307.20, the Small-Cap gained 0.5 percent to 29,048.83, and Italy Growth lost 0.2 percent to 8,217.40.

On the Mib, boost on Brunello Cucinelli, which advanced 3.0%, rearing its head after three bearish sessions and confirming itself as a best performer since the bell rang.

High quarters also for STMicroelectronics, which moves up 2.6%, reversing course after a four-session bearish mini-trend.

Banks are in the red, with Intesa Sanpaolo down 3.1 percent despite reporting first-quarter earnings of EUR2.30 billion, up 18 percent from EUR1.96 billion and in line with its EUR8 billion target for the year.

Net operating income is EUR6.73 billion, up 5.6 percent from EUR6.37 billion in Q4 2023 and up 11 percent from EUR6.06 billion in Q1 2023. Operating income amounted to EUR4.16 billion from EUR3.52 billion in Q1 2023.

As for capital ratios as of March 31, the Common Equity Tier 1 ratio was 13.3% from 13.7% at the end of 2023 and 13.2% pro forma deducting the buyback; the Tier 1 ratio was 15.9% from 16.3% at the end of 2023 and 15.7% pro forma deducting the buyback while the total capital ratio was 18.9% from 19.2% at the end of 2023, 18.6% pro forma deducting the buyback.

Also down were Banca Monte dei Paschi, down 5.0%, and BPER Banca, down 2.9%.

On the Mid-Cap, Digital Value rose 3.0%, in its fifth bullish session and ranking as the list's best.

Good buys also on Juventus FC, which was up 3.3%, on the heels of eve's 2.4% rise.

Piaggio also had a good session, with the Vespa company closing bullish by 0.5 percent.

Among the bearish, Comer Industries gave up 1.2 percent, heading for the third session in a row to end with a negative balance.

On the Small-Cap, Itway advanced 5.5 percent, bringing its week-on-week surplus over 15 percent.

Seri Industrial rose 4.4 percent, rebounding after two heavy bearish sessions. On Tuesday it reported that during the first quarter 2024 it posted revenues of EUR43.4 million, a slight decrease of EUR237,000 from the previous reporting period.

Edison--which shares only savings shares--slumped 0.3 percent after announcing that it made a profit of EUR322 million in the first quarter of the year from EUR288 million in the same period of 2023, thanks, in particular, to an increase in renewable production and good sales performance of Edison Energia.

Revenues amounted to EUR4.07 billion from EUR6.10 billion in the first quarter of the year before. Energy demand in Italy increased by 0.7 percent year-on-year and gas demand fell by 4.0 percent. On the other hand, the decline in sales revenues was due to the reduction in the price scenario, despite the positive performance of sales volumes.

Among SMEs, Alfonsino lost 3.2 percent after the double-digit profit with which it ended the eve.

E-Globe, on the other hand, rose 2.6 percent. The company on Friday disclosed that it has signed a binding agreement to acquire 100 percent of the Spanish company Bayona Petit Tradex Consulting, active in the air conditioning sector and owner of the www.climamarket.eu brand.

The binding agreement calls for E-Globe to purchase 100 percent of Bayona's share capital - 98.80 percent sold by partner Enrique Martinez Bayona and 1.20 percent by partner Xenia Pages Petit - at a price of EUR3 million, partially financed through recourse to the banking channel and the remainder with equity.

On the bottom, Alfio Bardolla led the price in the EUR2.99 area, down 4.5%.

Askolla EVA advances 3.3% after a change at the top management. Indeed, the company announced Tuesday that it had appointed Luca Bolcati as the company's new chief executive officer effective immediately. The board also appointed Luca Bolcati as the company's investor relator.

In Asia, the Hang Seng trades in the green by 0.2 percent and the Shanghai Composite is up 1.0 percent.

In New York, the Dow closed in the green 1.2 percent to 38,675.68, the Nasdaq rose 2.0 percent to 16,156.33, and the S&P 500 gained 1.3 percent to 5,127.79.

Among currencies, the euro changed hands at USD1.0763 from USD1.0747 on Friday in European equities closing while the pound was worth USD1.2547 from USD1.2549 on Friday evening.

Among commodities, Brent crude is worth USD83.38 a barrel from USD83.61 a barrel Friday night and gold trades at USD2,313.92 an ounce from USD2,292.05 an ounce Friday night.

Monday's macroeconomic calendar features the services PMI from Spain, Italy, France, Germany and the Eurozone, due between 0915 CEST and 1000 CEST.

From the eurozone, eyes also on producer prices at 1100 CEST, half an hour after the Sentix index on investor confidence.

From the U.S., eyes on the Fed's Barkin and WIlliams speeches in the afternoon and domestic vehicle sales data at 1600 CEST.

Of note, the week will open without trading in Tokyo and London due to Children's Day in Japan and the May bank holiday in the UK.

Among companies in the Piazza Affari, results from Amplifon, Anima Holding, Monte dei Paschi, and UniCredit, among others, are expected.

By Chiara Bruschi, Alliance News reporter

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