MIB rise expected; waiting for inflation in the Eurozone

(Alliance News) – Piazza Affari is expected to extend recent gains at the start of trading on Tuesday as traders' eyes await Jerome Powell's words in Jackson Hole.

The FTSE Mib lost 52.5 points or 0.2 percent after closing on Monday with a gain of 0.7 percent at 33,266.32.

The London FTSE 100 is expected to be down 33.8 points or 0.4 percent, the Paris CAC 40 is quoted at par and the Frankfurt DAX 40 is expected to be up 14.9 points or 0.1 percent.

Yesterday evening in Milan, the mid-cap rose 0.5% to 46,351.96, the small-cap gained 0.9% to 28,464.58 and the Italy Growth closed 0.2% higher at 7,990.57.

On the Mib, yesterday saw a good session for Telecom Italia, which rose 3.9% in the third consecutive bullish candle rise.

Strength was also seen at BPER Banca, where the share rose by 1.1 percent to EUR 5.00 and also recorded a profit in the third session.

At Amplifon, however, the increase was 1.0 percent, following on from the 1.7 percent increase on Friday evening.

Among the pessimistic minority, Leonardo lost 0.8%, turning lower after two bullish sessions.

Banca Monte dei Paschi, on the other hand, lost 0.2 percent after gaining 2.3 percent in the previous session.

In the mid-cap segment, the Moltiply Group closed with a gain of 4.2 percent, after falling by 1.4 percent on Friday evening.

Alerion rose 0.5%, immediately following a 1.9% gain in the previous session, and the new price was EUR 16.44.

There were also good buys at Tinexta, which rose 3.2 percent after closing down 0.5 percent on Friday.

Anima Holding – down 0.3 percent – announced on Monday that it had bought 359,000 of its own ordinary shares for a total value of 1.7 million euros between August 12 and 16. As of today, the company holds 7.5 million of its own shares, or 2.3 percent of its share capital.

Also at the bottom of the list was Intercos, which was down 1.9 percent and recorded a new price of 15.44 euros.

Among small-cap stocks, Gefran rose 4.8 percent in its third consecutive bullish trading session.

Enervit rose 1.9%, recovering after two sessions in which it fell 6.2%.

Instead, Zucchi closed with a gain of 3.4 percent, leaving the price at EUR 2.21 after the unchanged session last Friday.

Among the many others, Gabetti also performed well, closing the day up 2.9 percent. The stock, which has not been ex-dividend since 2006, had previously been trending downward for two sessions.

In the SME sector, Copernico achieved an increase of 9.3 percent, recovering after two sessions ended in a pessimistic environment.

Datrix rose 4.8 percent, following a 1.7 percent increase in the previous session.

Doxee, on the other hand, gained 5.7 percent in its third consecutive bull session.

Altea Green Power, on the other hand, rose 5.7 percent in its third consecutive upward trend, with a new price in the range of EUR 6.91.

At the bottom of the list – among the few stocks in a bearish phase – Eprcomunicazione lost 3.8 percent and ended its ninth consecutive session with a negative balance.

In Asia, the Nikkei rose 2.0 percent to 38,147.06, the Shanghai Composite fell 1.1 percent to 2,860.83 and the Hang Seng fell 0.6 percent to 17,468.17.

In New York, the Dow closed Monday up 0.6 percent at 40,896.53, the Nasdaq rose 1.4 percent to 17,876.77 and the S&P 500 rose 1.0 percent to 5,608.25.

Among currencies, the euro changed hands at $1.1076 (up from $1.1063) at the close of trading on European stock markets on Monday, while the pound was worth $1.2981 (up from $1.2983) on Monday evening.

Among commodities, Brent oil is trading at $76.98 a barrel, up from $79.23 a barrel at Monday's close. Gold, on the other hand, is trading at $2,501.13 an ounce, up from $2,504.12 an ounce at Monday's close.

Tuesday’s macroeconomic calendar includes inflation in the euro zone at 11:00 CEST.

In the afternoon, inflation from Canada is expected at 2:30 p.m. CEST, while a Bostic speech from the FOMC will be held at 7:35 p.m. CEST.

At 10:30 p.m. CEST, data on US oil inventories closes the day.

There are no special events planned in the Piazza Affari corporate calendar.

By Giuseppe Fabio Ciccomascolo, senior reporter of Alliance News

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