(Alliance News) - European stock markets opened in the green on Monday -- with only Milan in the red -- as investors carefully assess the global economic and monetary policy outlook. Trading rooms carefully assess rising crude oil prices following Saudi Arabia's commitment to further production cuts of 1 million barrels per day starting in July.

On Monday, in the CME Group platform's FedWatch Tool, using futures also based on the actual federal funds rate or EFFR, the confirmation of the rate at the June 14 meeting has a 78 percent probability for confirmation in the 500/525 bps range. In contrast, the 25 bps hike in the 525/550 bps target is priced at 22%.

Germany's trade surplus rose to EUR18.4 billion in April 2023, up from a downwardly revised EUR14.9 billion in the previous month and exceeding market expectations of EUR16.0 billion. This was announced by the Federal Statistical Office on Monday. It was the largest trade surplus since January 2021, driven by a 1.2 percent increase in exports, mainly due to higher sales in the EU, up 4.5 percent.

Thus, the FTSE Mib, marks a 0.2% decline to 27,028.46.

In Europe, London's FTSE 100 advances 0.5 percent, Paris' CAC 40 is in fractional green, and Frankfurt's DAX 40 is in the green by 0.3 percent.

Among the smaller listings on Friday evening, the Mid-Cap gave up 0.2 percent to 42,769.64, the Small-Cap is in the red 0.2 percent to 27,458.26, while Italy Growth is rising 0.1 percent to 9,173.08.

In Milan, Saipem is advancing 1.8% to EUR1.3010, on the heels of the previous two bullish sessions.

Italgas is also up, picking up 2.6%. The company on Thursday successfully concluded the launch of a new bond issue with maturity June 2032, fixed-rate and in the amount of EUR500 million, annual coupon of 4.125%, in implementation of the EMTN Program launched in 2016 and renewed by a board resolution on September 15, 2022.

Moncler, on the other hand, gives up 1.4 percent. As stated in a ProiezioniDiBorsa focus Thursday, regarding Moncler stock, "a buy signal has been triggered on this stock. A new bullish phase may be coming," the analyst team writes. "For this to happen, in fact, it is crucial that resistance in the EUR64.41 area is broken to the upside," the analysis on the stock concludes.

Hera, on the other hand, gives up 1.3 percent, with price at EUR2.9180 after two bullish sessions.

On the cadet segment, Italmobiliare advances 2.0% to EUR25.60 per share, looking for its third session to end among the bullish.

Maire Tecnimont - up 1.1% - announced Thursday that its subsidiary KT-Kinetics Technology, part of the Integrated E&C Solutions business unit, has been awarded preliminary engineering work for a new green fertilizer complex in North America by a group of private investors.

Seco -- up 3.5 percent -- announced Monday that it will contribute to the development of "an innovative as-a-service solution" by Itema Group, among the world's leading manufacturers of advanced weaving machines and solutions.

Wiit, on the other hand, advances 2.2 percent to EUR20.65, positioning its snout toward the fourth session to end on the bullish side.

Salcef, on the other hand, gives up 1.7 percent with price at EUR22.65, reversing a three-session bullish trend.

On the Small-Cap side, Bioera advances with 4.9 percent to EUR0.1080. after eve's red with 1.9 percent.

Good buying also on Basicnet, which is picking up 3.8% with new price at EUR5.70.

Among the bearish, Bastogi ranks in the rear with a 2.7 percent decline to EUR0.5760 following Friday night's 0.7 percent green.

Among PMIs, Italia Independent advances 6.8% to EUR0.79, rebounding after Friday's 9.8% red.

Clabo also does well, marking a plus 3.6%, after two sessions ended among the bearish.

At the rear is Alfonsino, which marks a minus 2.9% at EUR0.61.

In New York on Friday evening, the Dow rose 2.1%, the Nasdaq 1.1%, and the S&P 500 picked up 1.5%.

In Asia, the Nikkei closed up 2.1 percent, the Hang Seng was up 0.8 percent, and the Shanghai Composite rallied 0.1 percent.

Among currencies, the euro changed hands at USD1.0703 against USD1.0726 at Friday's European equities close. In contrast, the pound is worth USD1.2434 from USD1.2475 on Friday evening.

Among commodities, Brent crude is worth USD77.65 per barrel versus USD75.83 per barrel Friday night. Gold, on the other hand, trades at USD1,940.09 an ounce from USD1,981.55 an ounce Friday night.

On Monday's macroeconomic calendar, at 1100 CEST it is the turn of the Eurozone producer price index.

Overseas, at 1545 CEST the composite PMI and purchasing managers' index for the United States is released.

Among companies listed on the Milan Stock Exchange, Lifestyle Group's results are expected.

By Maurizio Carta, Alliance News reporter

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