(Alliance News) - The Mib closed lower in the first session of the week, settling around 34,300 points on Monday, aligning with the losses recorded in other European markets, with several corporate half-yearly reports gradually making their way into the daily appointments, in addition to the analysis of disappointing economic data from China and the Eurozone.

Prevailing, however, is a cautious sentiment in the trading rooms, following the assassination attempt on U.S. presidential candidate Donald Trump, which seems likely to boost his popularity in the electoral perspective.

On the Asian giant, it is reported that the economy expanded by an annual 4.7 percent in the second quarter of 2024, missing market forecasts of 5.1 percent and slowing from the first quarter's 5.3 percent growth, according to data shown Monday by the National Bureau of Statistics of China. It was the weakest annual increase since the first quarter of 2023, due to the persistent downturn in the real estate sector, weak domestic demand, the falling yuan and trade frictions with the West.

In Europe, industrial production in the Eurozone fell 0.6 percent month-on-month in May, but doing better than market expectations of a 1 percent drop and after a flat reading in the previous month. The data were released Monday by Eurostat. On a year-on-year basis, output fell 2.9 percent in May from a year earlier, after an upwardly revised 3.1 percent drop in April.

Thus, the FTSE Mib closed down 0.6 percent to 34,375.92, the Mid-Cap down 0.8 percent to 48,530.07, the Small-Cap gave up 0.5 percent to 29,095.03 while Italy Growth rose 0.1 percent to 8,127.97.

In Europe, Paris' CAC 40 closed 1.2 percent in the red, London's FTSE100 down 0.9 percent and Frankfurt's DAX 40 gave up 0.8 percent.

On the Mib, boost on Leonardo, which led the price up 1.3% to EUR23.24 per share after two sessions closed in the red.

Saipem, on the other hand, advanced 2.1%, on its second session in bullish fluctuation with price in the EUR2.40 per share area.

Tenaris - up 1.4 percent - reported the purchase of 3.0 million shares that took place between July 8 and 12. The shares were taken over at an average price of EUR14.2198 for a total value of EUR42.1 million. As a result of these purchases, the company holds 50.4 million or 4.3 percent of the share capital.

Intesa Sanpaolo gave ground at EUR3.60 per share, giving up 0.3 percent. Worth mentioning, Barclays raised its target price to EUR4.20 from EUR4.10 previously.

From the same London-based bank, Mediobanca also raised its target price to EUR15.80 from the previous EUR15.20 per share. The stock closed just above par at EUR14.29.

Among the many bearers, Prysmian, on the other hand, gave up 1.9 percent, following a 0.7 percent red on the eve of the day with price correction to EUR61.46.

Red for luxury stocks, with Brunello Cucinelli giving up 4.3% while Moncler left 2.4% on the parterre.

As Francesco Bonazzi writes on his column in Alliance News, "China has been the world's top luxury outlet for years now and today it has frozen financial markets as well. The economy of the country led by Xi jin Ping grew 4.7 percent in the second quarter, up from 5.3 percent in the previous quarter and 5.1 percent expected. On a cyclical basis, as the National Bureau of Statistics reported, GDP growth was 0.7 percent, compared with 1.6 percent in the first quarter and 1.1 percent estimated by economists and think tanks.

"The news of the slowdown comes on the first day of the Chinese Communist Party Plenum, which is called to give a new direction to economic policy and decide on possible forms of support for consumption. Two figures are enough to give an idea of the situation: in June China's industrial production rose 5.3 percent, while retail sales grew only 2 percent. And in the real estate market, disrupted by the Evergrande crack, new home prices are down 4.5 percent year-on-year."

On the cadet segment, Danieli & C advanced 2.7 percent instead, following up Friday's balance with 1.3 percent. The stock had previously come from a four-session bearish mini-trend.

PharmaNutra, on the other hand, advanced 0.6 percent, following the 0.6 percent red on the eve of the day, after three sessions closed in the green.

ENAV Group -- in the red by 1.0 percent -- on Monday announced that it had signed a contract with Teledife -- that is, the "Telematics and Advanced Technologies Directorate of the Ministry of Defense" -- for the supply, installation and commissioning of a new radar for air traffic surveillance carried out by the Air Force at the Sigonella air base.

Specifically, the two-year contract includes the supply of the new radar and equipment for the room that will house the air traffic controllers including the installation and commissioning activities of the new equipment.

Maire Tecnimont - in the green by 0.2 percent - reported Monday that Tecnimont, through its Indian subsidiary Tecnimont Private Limited, in collaboration with NextChem, has been awarded by Sembcorp Green Hydrogen India Pv. an engineering study for a green ammonia plant in India.

Marked selling also on Salvatore Ferragamo, which gives up 6.8 percent after a 3.6 percent rise Friday night.

On the Small-Cap, strength on Fidia, which led the price up 4.5% to EUR0.6920 per share, following Friday's green with 0.3%.

Irce, meanwhile, advances 3.9 percent to EUR2.15 per share. There is a high trading volume of about 33,500 pieces on the stock compared to the three-month daily average of about 7,100.

At the rear is Met.Extra, which left 4.8 percent on the parterre repricing at EUR2.36. It should be noted that the stock, since the beginning of 2024, is marking an asset of more than 28 percent.

Among PMIs, Fope closed up 2.9%, on its fifth bullish candle session.

Casta Diva -- up 0.8 percent -- reported first-half production value up 9.0 percent to EUR57.2 million from EUR52.7 million. The consolidated backlog value as of June 30 stood at EUR34.2 million.

CrowdFundme, on the other hand, gave up 7.1 percent, breaking an eight-session bullish trend.

Elsa Solutions, on the other hand, retreated 3.5 percent to EUR3.88 per share, subject to profit taking after four sessions with a bullish candle.

In New York-with stock exchanges in full trading mode-the Dow is rallying 0.8 percent, the Nasdaq is up 0.9 percent, and the S&P 500 is advancing 0.7 percent.

Among currencies, the euro is changing hands at USD1.0912 from USD1.0906 on Friday in closing European equities while the pound is worth USD1.2986 against USD1.2987 on Friday evening.

Among commodities, Brent crude is trading at USD85.09 per barrel from USD85.56 per barrel at Friday's close. Gold, on the other hand, trades at USD2,433.31 an ounce from USD2,410.33 an ounce Friday evening.

Tuesday's macroeconomic calendar includes the Italian inflation figure at 1000 CEST while, at 1100 CEST, it will be the turn of the trade balance of both Italy and the Eurozone.

Also at 1100 CEST, the ZEW business confidence sentiment data on German and Eurozone businesses will be available.

In the afternoon, from the U.S., at 1430 CEST, it will be the turn of retail sales data while, at 2230 CEST, the weekly oil stocks figure will be released.

On the corporate calendar in Piazza Affari, the half-year results of Saccheria F.lli Franceschetti are scheduled.

By Maurizio Carta, Alliance News reporter

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