(Alliance News) – European stock markets kicked off the week on a downbeat note Monday, as investors shifted their focus to upcoming US-China trade talks in London. These negotiations are widely regarded as a pivotal step in efforts to resolve ongoing trade tensions between the world’s two largest economies.
Against this backdrop, the FTSE Mib is down 0.3% at 40,494.27 points.
Across Europe, London’s FTSE 100 is just below parity, Frankfurt’s DAX 40 is slipping by 0.5%, while Paris’s CAC 40 is down by 0.1%.
Among secondary indices, the Mid-Cap is down 0.1% at 54,814.84, the Small-Cap is up 0.2% at 31,515.08, and the Italy Growth index has gained 0.2% to 8,133.89.
Back in Milan, UniCredit made a strong start, rising 0.7% to EUR58.58 per share after hitting a new 52-week high of EUR58.66 at the open.
Buzzi is also advancing, up 0.6% at EUR46.88 per share, marking its fourth consecutive positive session.
Recordati is up 0.5% at EUR55.20 per share. Notably, JP Morgan has raised its price target on the stock to EUR67.00 from EUR65.00.
Tenaris – up 0.1% – 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 buyback agreement with a leading financial institution. The bank will independently decide the timing of purchases of Tenaris’ ordinary shares, without influence from Tenaris or any third parties.
On the MidCap, Carel Industries is climbing 1.6% to EUR22.05 per share, following Friday’s 0.2% gain.
Philogen is also up 0.9%, registering its third consecutive positive session.
Anima Holding – up 0.1% – announced over the weekend that it closed May with a particularly strong net inflow in the asset management sector, recording an increase of EUR623 million, net of insurance mandates in branch I, according to the company. This result brings total assets under management to EUR205.2 billion, rising to EUR206.3 billion when including administered assets.
Among the laggards, Multiply Group has dropped 1.4% to EUR47.85 per share.
On the Small-Cap, EPH is up 4.4% after a flat session on Friday, trading around EUR0.12 per share.
Gas Plus is up 3.0% at EUR4.15 per share, after reaching a new annual high of EUR4.16.
Neodecortech is gaining 2.9% to EUR2.86 per share, rebounding after four consecutive losing sessions.
Giglio Group, however, is down 3.0%, following a 1.1% gain in the previous session.
Among SMEs, Ecosuntek is surging 7.4% to EUR18.90 per share, building on Friday’s 3.5% gain.
Alfonsino – up 9.3% – announced Monday the signing of a new national agreement with I Love Poke, a leading poke chain in Italy and a brand in the fast-casual healthy food segment. The deal will see Alfonsino’s delivery service activated in four Italian cities: Rome, Nola, Casoria, and Salerno, further strengthening the platform’s presence in strategic areas of Central and Southern Italy.
Eprcomunicazione – down 0.8% – reported Friday that its subsidiary Justbit Srl has secured a EUR110,000 contract. The agreement covers the management of a major multi-utility’s mobile application until the end of 2025.
On Wall Street Friday, the Dow gained 1.1%, the Nasdaq rose 1.2%, and the S&P 500 closed up 1.0%.
In Asian markets, the Hang Seng is up 1.4%, the Nikkei climbed 0.9%, and the Shanghai Composite is advancing 0.4%.
In currency markets, the euro is trading at USD1.1425, up from USD1.1386 on Friday evening, while the pound is quoted at USD1.3556, up from USD1.3519.
Among commodities, Brent crude is trading at USD66.12 a barrel, little changed from USD66.14 on Friday, while gold is at USD3,325.85 an ounce, down from USD3,351.17 an ounce on Friday evening.
Monday’s calendar features, in the afternoon, French BTF auctions with maturities at three, six, and twelve months at 1500 CEST, while US Treasury bill auctions for three- and six-month maturities are also scheduled.
No significant announcements are expected from companies listed on Piazza Affari today.
By Maurizio Carta, Alliance News reporter
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