(Alliance News) – On Friday, European markets, operating without their US counterparts due to the Independence Day holiday, were weighed down by ongoing tariff uncertainty and the looming July 9 deadline.

While EU-US talks continue, China has imposed new anti-dumping tariffs on European brandy imports—a move Brussels has condemned as “unjustified,” hinting at further countermeasures.

As a result, the FTSE Mib closed down 0.8% at 39,622.11 points, the Mid-Cap slipped 0.5% to 54,007.75, the Small-Cap edged up to 32,058.57, and the Italy Growth index advanced 0.3% to 8,256.63 points.

Across Europe, Paris’s CAC 40 fell 0.7%, Frankfurt’s DAX 40 dropped 0.5%, while London’s FTSE 100 was largely unchanged.

“With US traders absent, European markets struggled to maintain yesterday’s positive momentum. Optimism from rising payrolls and the approval of Trump’s tax bill has faded as tariff concerns resurface ahead of next week’s deadline, leaving the DAX and other indices in the red,” commented Chris Beauchamp, Chief Market Analyst at IG.

“For once, the UK’s exit from the EU meant it was spared any losses today, with the index flat throughout. As one of the few countries to have successfully negotiated a ‘trade deal’ with the US,” Beauchamp added, “UK investors don’t have to worry about this issue. Unfortunately, the ongoing crisis in UK public spending means they’ll have their hands full regardless.”

Back on the Milan Stock Exchange, only eight blue-chip stocks managed to end the day in positive territory.

Leading the pack was Recordati, which rose 1.0% to EUR54.05 per share.

Snam also performed well, up 0.2% following a morning meeting at the MIMIT headquarters between Minister Adolfo Urso and Minister Gilberto Pichetto Fratin to discuss energy supplies necessary for the decarbonization plan of the former Ilva steelworks.

The “technical” meeting also included Snam CEO Agostino Scornajenchi and representatives from the company’s technical offices, MIMIT, and MASE.

Amplifon delivered a solid performance, gaining 0.9% to EUR20.45, extending its month-long positive trend, which has seen a 0.7% gain over the past thirty days.

Banca Popolare di Sondrio rose 0.8% to EUR11.835 per share after BPER Banca—down 2.0%—increased the cash component of its voluntary Public Exchange Offer by EUR1.00 for each tendered share.

On the banking front, UniCredit, down 1.0%, awaits the outcome of the “golden power” review regarding its public offer for Banco BPM, which slipped 0.9%.

Piazza Gae Aulenti has challenged the government decree before the Lazio Regional Administrative Court, waiving its request for a suspension to expedite a ruling on the merits, expected on July 9.

Mediobanca reported that shareholder Aurelia Srl sold put options on 150,000 Mediobanca shares and simultaneously offloaded 250,000 shares. The stock closed up 0.1%.

DiaSorin hit a new 52-week low at EUR88.80, ending just below parity at EUR90.28.

Banca Monte Paschi Siena was the day’s laggard, falling 2.0%, matching the decline of Stellantis.

On the Mid-Cap, Alerion led with a 7.6% gain, marking its second consecutive session as a top gainer. The stock reached a new 52-week high at EUR22.10 per share.

Ascopiave also held up with a slight 0.2% increase, following its agreement with A2A to acquire AP Reti Gas North.

Carel Industries, which topped the list on Thursday, dropped to the bottom with a 5.6% decline.

Fincantieri managed a 0.4% gain after announcing the delivery of the first of two MPCS/PPA class naval units to the Indonesian Navy.

OVS’s acquisition of 100% of Goldenpoint failed to spark buying interest, with the stock down 1.7% to EUR3.562 per share.

Among Small Caps, Class Editori surged to the top with a 14% jump to EUR0.155 per share.

Mondo TV also rallied, up 11%. The company has requested access to negotiated crisis resolution measures to minimize creditor impact and implement less invasive restructuring plans.

Among banks involved in consolidation moves, Illimity Bank posted a 0.8% loss.

Triboo ended at the bottom, down more than 10%. Since July 2, as announced by Borsa Italiana, no price-unlimited orders are allowed on Triboo shares.

Among SMEs, GEL remained firmly among the leaders, gaining 8.9%.

Haiki+ held the top spot with a 9.6% rise following the announcement of its EUR22.9 million acquisition of Ecobat Resources.

Mevim, up 8.9%, announced that its shareholders’ meeting approved the issuance of a convertible bond of up to EUR870,000, exclusively reserved for Tenet Securities, along with a corresponding capital increase to support the conversion.

Mare Engineering Group reported the completion of the second optional tranche of its capital increase, issuing 34,067 new shares for a total value of EUR153,301.50. The stock closed up 0.9%.

Eprcomunicazione lost 5% to EUR1.33 per share.

The worst performer of the day was Execus, closing 14% lower at EUR0.95 per share.

Markets in New York were closed for Independence Day celebrations.

In currency markets, the euro traded at USD1.1780 from USD1.1756 at Thursday’s close, while the pound was at USD1.3645 from USD1.3647 the previous evening.

Among commodities, Brent crude traded at USD68.31 from USD68.36 per barrel at the previous close, while gold was valued at USD3,332.545 an ounce from USD3,328.36 the previous evening.

Monday’s economic calendar features the UK house price index at 0800 CEST, with a focus on mortgage data at 1030 CEST.

At 0800 CEST, German industrial production data will be released, followed by a speech from the Bundesbank president at 1000 CEST.

At 1030 CEST, Eurozone investor confidence indicators are due, with a report on euro area retail sales at 1100 CEST.

On the Milan Stock Exchange, CleanBnB is set to report earnings.

By Michele Cirulli, Alliance News Reporter

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