(Alliance News) – Caution characterized the main European markets on Monday, a day marked by the meeting between US President Donald Trump and Republican and Democratic leaders on the eve of the shutdown, i.e., the blockage of activities expected when no agreement is reached on the budget law.
On the macro front, consumer confidence improved in the Eurozone in September.
The FTSE Mib closed down 0.2% at 42,554.40 points, the Mid-Cap gained 0.8% to 56,560.45, the Small-Cap rose 1.0% to 36,199.83, and the Italy Growth closed just above parity at 8,594.83 points.
Other markets were positive: the CAC 40 advanced 0.3%, while Frankfurt’s DAX 40 rose 0.2%, as did London’s FTSE 100.
Chris Beauchamp, Chief Market Analyst at IG, noted: “The torrid day for oil weighed heavily on the FTSE 100, dragged down by BP and Shell, but on the upside, pharmaceuticals, defense, and mining all helped to support the index.”
“Gold continues to break records, supported by the continued easing of monetary policy by central banks around the world, while its less glamorous cousin, copper, posted strong gains today, supporting Antofagasta and others,” the analyst continued.
“Another attempt to reach historic highs seems to be on the cards for the FTSE 100,” Beauchamp predicted.
On the Milan Stock Exchange, Brunello Cucinelli’s stock rebounded, leading the pack with a 9.0% gain to EUR91.14 per share. The company announced that it had brought forward its board meeting on preliminary results following allegations – denied by the board – that it had circumvented the sanctions imposed on Russia.
Moncler performed well, up 3.0%, confirming the positive trend in luxury goods, with Ferrari up 1.2% after carrying out a EUR20.0 million buyback.
Tenaris, which gained 0.7%, purchased treasury shares for approximately EUR 41.0 million.
The Italian government has received assurances from Stellantis – up 1.1% – regarding jobs in Italy. This is what various sources, both from the executive and the unions, claim after the Minister of Made in Italy, Adolfo Urso, who had been very tough on Stellantis in the first phase of the center-right executive, publicly emphasized on Friday that the French company “is not doing what Bosch is doing.”
Credit institutions weighed on the large-cap index with negative performances by Banca Popolare di Sondrio (-2.8%), Mediobanca (-2.6%), Banco BPM (-2.8%) and UniCredit (-2.3%), which completed a EUR1.8 billion buyback plan.
On the Mid-Cap, Pirelli announced that the proceedings to ascertain any violations by CNRC of the provisions of the Golden Power decree had been closed. The stock closed down 2.1% at EUR5.838 per share.
Fincantieri and TUI Cruises – a joint venture between TUI and Royal Caribbean Cruises – signed a contract on Monday for the design and construction of two new cruise ships. Fincantieri’s stock rose 5.2%, setting a new all-time high for the company.
Danieli & C, despite a drop in profits to EUR220.1 million from EUR240.8 million the previous year, topped the list with a 15% increase to EUR44.50 per share.
Avio signed a EUR 40.00 million contract with the European Space Agency for transport. The deal will last 24 months: the stock benefited by 8.8%.
Comer Industries and BFF Bank closed down 4.1% and 3.3%, respectively.
In the small-cap sector, Tesmec completed a syndicated loan facility for a total of EUR 55 million. The transaction is structured in four separate agreements with leading credit institutions, with Banca Finint acting as agent bank and SACE as agent. The stock fell 1.4%.
BasicNet, up 1.6%, acquired 43,000 of its own ordinary shares at an average price of EUR7.1060 per share, for a total value of EUR305,548.73.
Aedes reached a 52-week high of EUR 0.22 per share, but the stock ended the day up 2.8%.
Bastogi, which reported an increase in profits to EUR 4.7 million compared to EUR 2.2 million recorded on June 30, 2024, rose 2.9%.
Seri Industrial topped the list with 104% and Fidia with 8.0%; further down were Zest with 5.2% and Bestbe Holding with 5.0%.
Among SMEs, on a day full of half-year results, Compagnia dei Caraibi led the way with 16% to EUR0.4530 per share.
Adventure – flat at EUR12.80 – closed with a net profit of EUR30,000, down sharply from EUR470,000 in the same period in 2024.
Eles closed with a loss of EUR 1.0 million from a profit of EUR 300,000: the stock showed a negative trend of 0.9%.
Elsa Solutions’ profit almost halved, falling to EUR 360,000 from EUR 750,000 recorded on June 30, 2024. However, the stock gained 4.2%.
ESI ended the half-year with a profit of EUR 234,300. This is the company’s first consolidated half-year report: the stock lost around 16%.
VNE reported a profit of EUR 629,000 compared to EUR 470,000 in the same period last year. The value of production increased to EUR 8.5 million from EUR 7.4 million, with machine sales increasing to EUR 5.5 million from EUR 5.1 million. The jump forward was 5.3%.
Soges fell 6.8% after widening its loss in the first half, while Pasquarelli Auto rose 6.6%.
In New York, the Dow fell 0.1%, the Nasdaq rose 0.7%, and the S&P 500 gained 0.4%.
On the currency front, the euro traded at USD 1.1727 from USD 1.1690 at Friday evening’s stock market close, while the pound traded at USD 1.3420 from USD 1.3402 on Friday evening.
Among commodities, Brent crude traded at USD68.20 per barrel from USD70.69 per barrel at Friday evening’s stock market close, while gold was worth USD3,823.84 per ounce from USD3,779.71 per ounce on Friday.
On Tuesday’s economic calendar, at 0101 CEST, UK retail prices are due, while at 0330 CEST the focus will shift to the Chinese manufacturing sector.
Attention returns to the UK at 0800 CEST with business investment and gross domestic product figures. At the same time, Germany will release retail sales and import price data.
French inflation figures will be released at 0845 CEST, while German unemployment figures are expected at 0955 CEST.
Italian producer prices are expected at 1000 CEST.
At 1450 CEST, the President of the European Central Bank, Christine Lagarde, will give a speech, followed at 1600 CEST by data on US consumer confidence.
On the Italian stock exchange, the half-yearly results of over 40 companies are expected.
By Michele Cirulli, Alliance News Reporter
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