(Alliance News) - Piazza Affari is expected to start the day down Monday along with other major European bourses except London, which is expected to rise slightly, in the first session following the Hamas attack on Israel that began Saturday.

Capital heads to the safety of the dollar and gold this morning as oil prices rose about 5 percent as energy markets opened and global benchmarks approached USD89 a barrel, with West Texas Intermediate rising to about USD87.

"Iran is said to have helped Hamas organize the attack and the U.S. has said it plans to send warships to the region," comments Ipek Ozkardeskaya, Senior Analyst at Swissquote Bank. "The escalation of tensions triggered a wave of panic in financial markets on Monday. Fears of potential retaliation against Iran threatened the passage of ships carrying oil through the Strait of Hormuz and reversed market rhetoric from a potential slowdown in global oil demand to a tightening of global supply."

Meanwhile, "gold serves as a strong safe haven. The price of an ounce surpassed the USD1,850 level this morning, and further escalation of tensions is expected to push capital toward the safety of gold. Upside potential extends to the distant USD2000 an ounce, but gains due to geopolitical tensions are not expected to last long. What will remain decisive for gold's performance in the medium and long term will be U.S. yields. For now, they are on the upside," the analyst adds.

The FTSE Mib is expected to fall 0.3 percent after closing Friday up 1.2 percent at 27,810.61.

In Europe, the FTSE 100 is expected up 8.7 points or 0.1 percent, Paris' CAC 40 is expected to open down 14.0 points or 0.2 percent, and Frankfurt's DAX 40 is given in the red 55.0 points or 0.4 percent.

Among Italy's smaller lists on Friday evening, the Mid-Cap rose 0.8 percent to 39,176.04, the Small-Cap was up 0.3 percent to 25,210.61 and Italy Growth finished slightly higher at 8,096.67.

On the main list of the Italian Stock Exchange, banking stocks did well with BPER Banca, UniCredit, Banco BPM, and Banca Monte dei Paschi di Siena doing best of all by taccogliando between 3.5% and 2.9%.

Enel advanced 0.9 percent after announcing Thursday that it has approved the launch of a share buyback program for up to 4.2 million shares.

The potential outlay associated with the execution of the program is estimated at about EUR23.3 million.

Italgas gave up 0.1 percent after announcing Thursday that it had completed the corporate simplification related to its operational presence in Greece.

In fact, the merger by incorporation into DEDA - Public Gas Distribution Company SA - of EDA Thess and EDA Attikis, companies of Italgas Group's Depa Infrastructure group, was completed.

Saipem dropped 0.5 percent after announcing Thursday that it has signed - in consortium with National Petroleum Construction Company - a Letter of Award with ADNOC for a new contract for package 1 of the Hail and Ghasha Development Project in the United Arab Emirates. The value of Saipem's share is approximately USD4.1 billion.

FinecoBank closed up 0.8 percent after closing down 2.0 percent. It reported Thursday that net inflows for September were EUR446.7 million, down from EUR514.5 million in the same month a year earlier.

On the Mid-Cap, Maire Tecnimont did best of all with a 14 percent rise after reporting that Tecnimont, part of the Integrated E&C Solutions business unit, signed a letter of award with ADNOC on Thursday for the onshore treatment plant at the Hail and Ghasha project.

The total value of the EPC contract is about USD8.7 billion and the project is scheduled for completion during 2028.

Anima Holding rose 1.3 percent. The company reported that the group's net assets under management in September were negative EUR271 million.

At the end of September, total assets under management of the Anima group stood at about EUR184 billion.

On the small-cap side, bullish Greenthesis, which rose 8.8 percent. The company reported Thursday, Sept. 21, that it posted net revenues of EUR85.3 million in the first half of the year, up from EUR82.3 million in the first half of 2022.

Net income rose 2.6 percent to EUR8.6 million from EUR8.4 million in the same period last year.

Aeroporto Guglielmo Marconi Di Bologna gained 0.8 percent while algoWatt gave up 1.5 percent despite reporting that it has obtained a EUR255,000 loan for digital energy solution provider & system integrator activities on the ResilMesh project, funded under the Horizon Europe program.

Immobiliare Grande Distribuzione SIIQ lost 1.0 percent. The company announced that it has resolved to issue a EUR400.0 million senior unsubordinated and nonconvertible bond.

Bioera gave up 2.9%. On Thursday, the company learned from outside sources that it was the recipient of a petition for judicial liquidation undertaken by the Public Prosecutor's Office at the Court of Milan.

The company informed in this regard "that it has instructed the lawyer Fabio Cesare of the firm McM avvocati in Milan to assist it in view of the next hearing - set for November 2 - to contest the groundlessness of the initiative," the company explained in a note.

Among SMEs, Renergetica rose 1.1 percent. On Thursday, the company announced that all members of the company's board of directors and board of statutory auditors have irrevocably resigned, effective on the date when the shareholders' meeting will be held to provide replacements.

The resignations were tendered in light of the fact that on August 4, Exacto, on the one hand, and CVA Eos, on the other, signed a contract for the sale by Exacto in favor of CVA Eos of a stake representing 60% of Renergetica's share capital and in view of the prospective change in Renergetica's shareholding structure that would occur in the event of the execution of the aforementioned acquisition transaction.

Casta Diva Group closed at a breakeven after the board of directors announced Thursday that it had reviewed the value of production figure as of Sept. 30, which came in at EUR71 million, up 28 percent from the same period last year, when it was EUR56 million.

Almawave lost 2.1 percent after reporting Thursday that subsidiary SisTer won the COMESA - Common Market for Eastern and Southern Africa tender to enhance the Africa Information Highway public data platform, which the African Development Bank makes available to all African countries and regional and subregional organizations.

Spindox gained 1.2 percent. PMI announced the formal admission of the WICO - Water Quality Innovative Control by Artificial Intelligence - project by the Ministry of Enterprise and Made in Italy to funding under the PNRR.

Together with Archa, lead partner, CNR, Acque and Dielectrik, Spindox will develop an intelligent platform for monitoring water for human consumption. The system will target the Lower Valdarno aqueduct, which serves more than 800,000 citizens.

The total investment of the five partners is EUR5.9 million, matched by a total facility of EUR2.8 million, of which Spindox will receive about EUR1.1 million in grants.

In Asia, Hong Kong resumed trading after interrupting the morning session due to torrential rains and is now in the green by 0.6 percent at 17,501.00 while the Shanghai Composite gives up 0.4 percent to 3,095.81 and the Nikkei is closed for National Sports Day.

In New York on Friday, the Dow closed in the green 0.9 percent to 33,407.58, the Nasdaq up 1.6 percent to 13,431.34 and the S&P 500 finished up 1.2 percent to 4,308.50.

Among currencies, the euro changed hands at USD1.0545 against USD1.0537 recorded in Friday's European equities close while the pound was instead worth USD1.2205 from USD1.2191 on Friday evening.

Among commodities, Brent crude is worth USD87.43 per barrel from USD83.65 per barrel at Friday's close. Gold, on the other hand, trades at USD1,853.18 an ounce from USD1,823.81 an ounce Friday evening.

Monday's macroeconomic calendar features the Sentix index of Eurozone investor confidence at 1030 CEST.

In the afternoon, room for French three-, six- and 12-month BT auctions and speeches by Jefferson and Logan of the Federal Reserve at 1500 CEST and 1850 CEST, respectively. Mann of the Bank of England, on the other hand, will close the day at 2200 CEST.

Among the companies in the Piazza Affari, however, Nusco's results are expected.

By Chiara Bruschi, Alliance News reporter

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