(Alliance News) - The Mib index hovered just below the flatline on Monday, trading around the 40,500-point mark and thus starting the week on a slightly negative note, mirroring the performance of other European markets.
Investor sentiment was dampened by disappointing economic data out of China, where both consumer and producer prices fell in May. Trade figures also revealed weaker-than-expected export growth and a continued decline in imports.
Nonetheless, some optimism persisted ahead of US-China trade talks scheduled in London later in the day, with investors hoping the discussions could help ease tensions between the world's two largest economies.
As a result, the FTSE Mib was down fractionally at 40,585.63 points.
Across Europe, London's FTSE 100 was slightly below parity, Frankfurt's DAX 40 was down 0.3%, while Paris's CAC 40 was up 0.1%.
Among the smaller indices, the Mid-Cap was up 0.1% at 54,814.84, the Small-Cap gained 0.3% to 31,552.14, and the Italy Growth index advanced 0.1% to 8,130.33.
Back in Milan, Interpump enjoyed a strong session, rising 1.2% to EUR35.80 per share, marking its fifth consecutive day of gains.
Buzzi was also up, gaining 0.6% to EUR46.88 per share, notching its fourth straight positive session.
Tenaris -- up 0.5% -- announced over the weekend that, in line with its share buyback program of up to USD1.2 billion, it has entered into a non-discretionary repurchase agreement with a major financial institution. The bank will independently decide the timing of ordinary share purchases, without influence from Tenaris or third parties.
Recordati advanced 0.2% to EUR55.05 per share. Notably, JP Morgan raised its price target on the stock to EUR67.00 from EUR65.00.
Leonardo, on the other hand, slipped 1.6% to EUR51.74 per share, following a 3.1% loss on Friday evening.
On the MidCap, Carel Industries climbed 3.2% to EUR22.40 per share, building on Friday's 0.2% gain.
Sesa rose 2.1% after a 0.4% advance to EUR80.55 per share, extending its previous session's green run.
Philogen added 0.9%, marking its third consecutive day of gains, trading around EUR22.80 per share.
Anima Holding -- up 0.6% -- announced over the weekend that it closed May with a particularly strong net inflow in the asset management sector, registering an increase of EUR623 million, net of insurance mandates in branch I, the company specified. This result brings total assets under management to EUR205.2 billion, or EUR206.3 billion when including administered assets.
Among the laggards, Juventus FC fell 1.4% after a 1.0% drop in the previous session.
On the Small-Cap, EPH advanced 4.4% after a flat session on Friday, trading around EUR0.12 per share.
Gas Plus climbed 4.0% to EUR4.19 per share after hitting a new annual high at EUR4.16.
Neodecortech rose 2.2% to EUR2.84 per share, rebounding after four consecutive sessions in the red.
On the downside, CSP International slipped 2.0% to EUR0.3360 after Friday's 3.0% gain.
Among SMEs, Ecosuntek surged nearly 15% to EUR20.20 per share, following Friday's 3.5% gain.
Alfonsino -- up 5.6% -- announced Monday the signing of a new national agreement with the I Love Poke brand, a poke bowl chain in Italy and a player in the fast casual healthy food segment. The deal will see Alfonsino's delivery service launched in four Italian cities: Rome, Nola, Casoria, and Salerno, further strengthening the platform's presence in strategic areas of central and southern Italy.
Eprcomunicazione -- up 4.5% -- reported Friday that its subsidiary Justbit Srl secured a EUR110,000 contract to manage the mobile application of a major multi-utility company through the end of 2025.
Among the minority of decliners, Finanza.Tech dropped 5.0% to EUR0.4740.
In New York on Friday, the Dow gained 1.1%, the Nasdaq rose 1.2%, while the S&P 500 closed up 1.0%.
In Asian markets, the Hang Seng closed up 1.6%, the Nikkei advanced 0.9%, and the Shanghai Composite rose 0.4%.
In currency markets, the euro traded at USD1.1437 from USD1.1386 on Friday evening, while the pound changed hands at USD1.3577 from USD1.3519.
In commodities, Brent crude traded at USD66.51 a barrel from USD66.14 on Friday evening, while gold was at USD3,322.04 an ounce from USD3,351.17 an ounce on Friday evening.
Monday's calendar includes, in the afternoon, French BTF auctions maturing in three, six, and twelve months at 1500 CEST, while in the US, Treasury bill auctions with three- and six-month maturities are expected.
No significant announcements are expected today from companies listed on Piazza Affari.
By Maurizio Carta, Alliance News reporter
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