(Alliance News) - Europe's major stock markets on Monday began the new week in the red with the Mib trailing, while oil stocks suffered in Italy, as elsewhere, as crude oil prices continued to fall.

Thus, the FTSE Mib opens 0.8 percent in the red at 27,513.63

Among Italy's smaller lists, the Mid-Cap gives up 0.3 percent to 43,758.94, the Small-Cap retreats 0.8 percent to 29,253.24, and Italy Growth advances 0.3 percent to 9,260.77.

In Europe, Paris' CAC 40 gives up 0.3 percent, London's FTSE 100 opens in the red by 0.1 percent, and Frankfurt's DAX 40 is down 0.3 percent.

In London, the FTSE 100 is also under pressure below 7,900 "with oil giants Shell and BP near the bottom of the index. WTI and Brent are both down more than 1.3 percent on the outlook for weaker global demand," commented Victoria Scholar, Head of Investment at interactive investor.

On the main list of Piazza Affari, therefore, at the bottom are oil stocks, with Saipem the tail end, giving up 1.2 percent, while Tenaris loses 0.9 percent and Eni 0.8 percent.

Leonardo, on the other hand, gives up 0.4 percent. The company announced Friday that it has delivered the ECRS Mk2 radar prototype-European Common Radar System Mk2- to BAE Systems, marking the latest stage in the development program for the UK fleet of Typhoon aircraft.

Intesa Sanpaolo--which opens in the green by 0.4 percent after closing in the red by 0.2 percent--and Salcef Group announced Friday that they have signed an agreement to reclaim tax credits related to building bonuses and Superbonus with a tax value of EUR40 million.

Telecom Italia remains bearish and gives up 0.6 percent after finishing in the tail on Friday, giving up 4.3 percent. It lost EUR560 million in capitalization in five sessions from April 14 to 21.

Interpump Group, in the green by 0.4 percent, announced the acquisition of a 70 percent stake in I.Mec.

Founded in 1989 and headquartered in Reggio Emilia, I.Mec specializes in the manufacture of mechanical screens, i.e., devices for the granulometric selection of matter through vibration mechanisms, with the ceramic, recycling, purification, food, and cosmetics industries as its main application sectors. The company ended fiscal year 2022 with a turnover of about EUR17 million and an Ebitda margin in the neighborhood of 23 percent.

The value of the deal was set at around EUR14 million.

Banco BPM, UniCredit, and Stellantis did well, taking the top by picking up 2.1 percent, 2.0 percent, and 1.9 percent.

On the Mid-Cap, Arnoldo Mondadori Editore advances 0.8 percent after announcing Thursday that it has executed the contract for the sale to PBF Srl of its 18.45 percent stake in Società Europea di Edizioni Spa, publisher of the daily Il Giornale, to PBF Srl.

Cementir Holding--up 0.3 percent--reported that the shareholders' meeting renewed the board of directors, which will serve a three-year term, reducing the number of members to eight, including one executive director, Francesco Caltagirone, and seven nonexecutive directors.

Maire Tecnimont--on top with a 1.8 percent rise--reported Friday that its subsidiary NextChem, part of the Sustainable Technology Solutions business unit, after completing the advanced engineering study for methanation for the Salamandre project in Normandy, has been awarded a new contract by Storengy to perform an additional advanced engineering study for gasification of wood waste and purification of synthesis gas system to produce biomethane.

Salvatore Ferragamo remains at the bottom with a 0.7 percent decline after closing down 5.9 percent Friday. The company announced Thursday consolidated revenues for the first quarter of 2023 reporting a decline to EUR277.9 million as of March 31 from EUR289.4 million in the same period of 2022.

Worst of all is Juventus, in the red by 2.3 percent.

On the Small-Cap, Bioera opens in the red by 6.3 percent after announcing Friday night that the board of directors approved the financial statements as of December 31, 2022, reporting a group loss of EUR4.1 million compared to a profit of EUR15.3 million in fiscal year 2021.

Revenues, on the other hand, were EUR626,000 compared to EUR19.8 million in the previous year.

Sogefi gives up 0.5 percent. The company announced Friday that in the first quarter of 2023 it had revenues of EUR431.6 million, up 13 percent from EUR381.1 million in the same period of 2022.

Net income for the period amounted to EUR13.2 million up from EUR10.7 million in the first quarter of 2022.

Autostrade Merididionali retreats 2.8 percent after its share price in the last five trading days alone fell to EUR23.30 on Thursday's close from EUR19.80 five sessions ago.

Doing well were Giglio Group, which opened up 5.1 percent, and algoWatt, up 2.1 percent after announcing Monday that it had entered into an "important framework agreement with a leading Italian credit institution" for the evolutionary and corrective maintenance of remote control solutions for technological systems and management of maintenance teams at locations throughout Italy.

Among SMBs, TrenDevice -- in the green by 1.8 percent -- reported on Friday that in the first three months of 2023 it achieved revenues of EUR4.1 million, down slightly from EUR5.1 million in the same period of 2022.

This decrease, the company explained in a note, was due to the abandonment of the sales channel related to foreign marketplaces, which was characterized by too low a margin compared to management's expectations.

Convergence still does not trade. The company said it has reviewed key management data for the first quarter, reporting revenues of EUR5.0 million from EUR6.1 million in the same period of 2022.

In detail, the TLC business unit achieved revenues of EUR2.4 million compared to EUR2.3 million in the first quarter of 2022, while the energy business unit while the Energy BU reported a 30 percent decrease in revenues to EUR2.6 million compared to EUR3.7 million in 2022.

Finlogic opens in the red by 0.4 percent after reporting Thursday that first quarter revenues rose 34 percent year-on-year to EUR20.3 million from EUR15.1 million in the same quarter a year earlier.

Without including the two companies taken over during 2022 in the accounts, revenues would mark a 12 percent increase to EUR16.9 million from EUR15.1 million.

In Asia, the Nikkei closed in fractional green at 28,571.96 and the Hang Seng is giving up 0.8 percent to 19,919.03, while the Shanghai Composite is down 0.8 percent to 3,275.41

In New York on Friday, the Dow Jones closed above par at 33,808.96, the S&P finished in fractional green at 4,133.52 while the Nasdaq finished up 0.1 percent at 12,072.46.

Among currencies, the euro changed hands at USD1.0980 versus USD1.0973 at Friday's close. In contrast, the pound is worth USD1.2435 from USD1.2415 on Friday evening.

Among commodities, Brent crude is worth USD80.65 per barrel USD81.54 per barrel Friday night. Gold, on the other hand, trades at USD1,982.09 an ounce from USD1,976.36 an ounce at Friday's close.

On Friday's economic calendar, at 1000 CEST in Germany the ifo index on euro zone business sentiment and assessment of the current German situation with business expectations will be released.

At 1430 CEST in Canada, the new home price index is expected.

In Piazza Affari, results from algoWatt, Destination Italia, Farmacosmo, Portale Sardegna and Take off are expected.

By Chiara Bruschi, Alliance News reporter

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