(Alliance News) - Piazza Affari is expected to decline slightly ahead of Monday's start of trading, at the beginning of the last week before the holiday season, after having rallied sharply in recent sessions.

The FTSE Mib is given down 97.5 points or 0.3 percent after closing up 0.1 percent at 30,373.89 Friday.

London's FTSE 100 is expected down 16.4 points or 0.2 percent, Paris' CAC 40 is expected down 32.5 points or 0.4 percent, and Frankfurt's DAX 40 is shown down 58.2 points or 0.3 percent.

In Milan on Friday evening, the Mid-Cap gained 0.4 percent to 43,854.41, the Small-Cap rose 0.7 percent to 27,124.158, and the Italy Growth closed up 0.5 percent to 8,100.30.

On the main list in Piazza Affari, STMicroelectronics did best of all, rising 2.7 percent. Of note, UBS upgraded the stock to 'buy' from 'neutral' and raised its target price to EUR54.00 from EUR52.00. In contrast, Stifel cut the target price of the company's stock to EUR55.00 from EUR60.00 with a 'buy' recommendation.

Shortly before the close Telecom Italia, up 2.4 percent, reported that it had received notification of an ordinary writ of summons from Vivendi, in which the legitimacy of the board resolution taken by the company on November 5, by which the sale of the so-called NetCo was approved, is challenged.

It should be noted that Vivendi has not made any request for precautionary measures, nor has it asked for an urgent injunction against the execution of the resolution and the resulting negotiation acts. The activities envisaged by the agreements with KKR aimed at the closing of the transaction "will therefore continue as planned, without delay or interruption," TIM further specifies.

Campari was among the worst performers, in the red by 2.9 percent. The aperitif company has entered into exclusive negotiations with Beam Suntory to acquire 100 percent of Beam Holding France, which in turn owns the Courvoisier cognac brand. The fixed purchase price is USD1.2 billion, equivalent to EUR1.11 billion at today's exchange rate.

It did worse only DiaSorin, on the bottom with a liability of 5.5 percent.

On the Mid-Cap list, Antares Vision rose more than 15 percent. The company announced Thursday that Enrico Broli has resigned as a standing auditor and chairman of the company's board of auditors due to health reasons. Alternate statutory auditor Paolo Belleri has also left the group. Broli will be replaced on the board of auditors by Ramona Corti while the chairmanship of the body will be in the hands of Giancarlo Germani until the next shareholders' meeting.

Fincantieri saw 0.7 percent after reporting that Vard -- a Norwegian subsidiary -- signed an agreement with an international customer to build a cable-laying ship. Delivery is scheduled for the fourth quarter of 2026.

The value of the contract is between EUR200 and EUR250 million.

OVS rose 5.0 percent. The company reported Wednesday that net sales for the first nine months of its 2023-2024 fiscal year rose to EUR1.10 billion from EUR1.09 billion year-on-year. The performance of direct stores was better than that of franchise stores, which were more affected by adverse weather conditions as they were mostly kids formats. Ebitda in the period ended Oct. 31 showed a slight year-on-year decline to EUR121.5 million from EUR124.1 million.

Brunello Cucinelli -- down 2.8 percent -- said Wednesday that it expects to end the year with positive results, five days before it debuts on the FTSE Mib of Borsa Italiana. "After the very nice results of the nine months and the very interesting growth in October, November and the first part of December, we envision for 2023 a very good growth in revenues, between 22% and 23% at current exchange rates - over EUR1.1 billion -, raising estimates compared to previous expectations between 20% and 22%, with a very important marginality and profit, within our idea of polite growth and healthy profit," said the founder of the eponymous brand, Brunello Cucinelli.

Tinexta--up 1.0 percent--reported Thursday that it had finalized--through its subsidiary Warrant Hub Spa--the acquisition for 73.9 percent of France's ABF Group SAS.

On the Small-Cap, FILA - up at EUR8.67 per share - reported Thursday that its board of directors had resolved to propose to the shareholders' meeting the distribution of an extraordinary dividend of EUR0.58 per FILA share, ordinary and special.

algoWatt, on the other hand, surrendered 3.9 percent, which announced that it had analyzed the possible impacts on the group's activities due to the exacerbation of the state of financial tension, as a direct consequence of the decision taken by a financial creditor to temporarily suspend the company's line of advances on active invoices.

BF eprised 0.3 percent after announcing Thursday BF International's multi-year strategic development and investment program in Egypt.

The project is characterized by full supply chain integration, application of low environmental impact agronomic techniques, technology transfer and training activities to partners and the Egyptian farmers involved. The project will be implemented through a joint venture between BF International and local company Future of Egypt, and will cover a 15,000-hectare site in the Dabaa region.

Among SMEs, FAE Technology--up 1.7 percent--reported Friday that its board of directors, in anticipation of the closing of the deal to acquire the entire share capital of Elettronica GF, expected by Jan. 31, 2024, resolved a divisible capital increase with the exclusion of pre-emptive rights for a maximum amount of EUR2.1 million, through the issuance of up to 1.1 million ordinary shares with no indication of par value offered at a unit subscription price of EUR2.00, of which EUR1.97 is a share premium and EUR0.03 is a capital share.

eVISO rose 1.8 percent after it announced on Friday the update of its proprietary digital infrastructure aimed at further improving the company's service quality and operational efficiency.

In Asia, the Nikkei closed Monday down 0.6 percent to 32,758.98, the Shanghai Composite gave up 0.4 percent to 2,930.80 and the Hang Seng is down 1.1 percent to 16,608.05.

In New York on Friday evening, the Dow closed up 0.2 percent at 37,305.16, the Nasdaq rose 0.4 percent to 14,813.92, and the S&P 500 finished trading at a tie at 4,719.19.

Among currencies, the euro changed hands at USD1.0921 against USD1.0909 recorded in Friday's European stock close while the pound was worth USD1.2692 from USD1.2715 on Friday evening.

Brent crude is worth USD77.36 per barrel versus USD76.29 per barrel at Friday's close. Gold, on the other hand, trades at USD2,023.39 an ounce from USD2,048.85 an ounce Friday night.

Monday's macroeconomic calendar opens at 1000 CET with, from Germany, data on business expectations and assessment of the current economic situation, along with the ifo index on business confidence.

Again at 1000 CET, in Spain, the trade balance is published.

Back in Germany, at 1200 CET, the Bundesbank's monthly report is due.

Overseas, at 1430 CET, the new housing price index is published in Canada.

On the bond front, at 1455 CET, French three-, six- and 12-month BTF auctions will be held in France. From the US, at 1730 CET, it will be the turn of three- and six-month Treasury bond auctions.

Among companies listed on the Milan Stock Exchange, no particular announcements are expected.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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