(Alliance News) – On Monday, major European stock exchanges closed in negative territory, with the exception of Frankfurt. In the Middle East, prospects for peace are becoming more concrete thanks to a plan by Donald Trump, while in Europe, political instability in France sent the CAC 40 deep into the red.
In Italy, the construction sector closed the third quarter on a stable footing, supported by a rise in new orders and moderate employment growth, according to data released by S&P Global on Monday.
As a result, the Mib ended trading down 0.3% at 43,146.13 points, the Mid-Cap fell 0.5% to 57,944.36, the Small-Cap advanced 0.5% to 37,627.28, and Italy Growth gained 0.9% to 8,752.21 points.
Paris’s CAC 40 dropped 1.3%, Frankfurt’s DAX rose 0.1%, and London’s FTSE 100 slipped 0.2%.
According to IG analysts, “Another political drama in France had no impact beyond the CAC 40 and some weakness in the euro, while the DAX continues to consolidate after recent strength.”
Chris Beauchamp, IG’s chief market analyst, explained, “In particular, weakness in the German index was quickly offset by buying, while the FTSE 100 managed to reach a new all-time high despite a lack of news.”
On Piazza Affari, fueled by rumors of a EUR10.00 billion investment plan in the US, Stellantis led the blue-chip index with a 3.4% rise to EUR9.325 per share.
Saipem also performed well, up 3.0% after Alpine Associates Management increased its short position to 1.03% from 0.92%.
By year-end, a decision is expected regarding Mediobanca’s future on the stock exchange. The company rose 2.2% amid speculation of a delisting or an increase in free float. CEO Lovaglio reiterated that the merger with MPS–which fell 1.4%–addresses the need for scale to compete in an increasingly concentrated market.
Prysmian, which set a new annual high at EUR89.16 per share, gained 1.7%, while Banco BPM, hitting a 52-week high at EUR13.025, closed up 0.8%.
STMicroelectronics hovered just above flat, up 0.2% following a share buyback worth EUR7.0 million.
Azimut recorded a 1.6% drop, finishing at the bottom of the table. Ferrari also declined 1.6% after a EUR12.0 million buyback.
On the Mid-Cap, PharmaNutra rose 4.0% to EUR49.95 per share.
“Traditional underwater business plus unconventional underwater business” is the recipe presented by Fincantieri CEO Pierroberto Folgiero to the media; the stock jumped 0.5%.
Brembo–down 0.4%–and SIAD announced their entry into the capital of Hydrospark, a start-up incubated and launched by Petroceramics, which specializes in advanced hydrogen energy production and storage technology.
OVS conducted a EUR29,000 buyback but posted a negative return of 0.2%, as did El.En., which dropped 0.5% after a buyback exceeding EUR55,500.
Safilo Group, De’ Longhi, and Salvatore Ferragamo were the worst performers, down 4.4%, 4.1%, and 3.5% respectively.
On the Small-Cap, Esprinet reported progress in its digital transformation journey with two projects: SalesMate and the new AI Smart Search on its website. The stock, which hit a 52-week high, rose 1.1%.
Immsi, which set a new annual high at EUR0.686 per share, gained 4.2%.
Fiera Milano’s buyback, totaling EUR328,000, lifted the stock by 0.1%.
At the top, Bastogi and Aeffe posted double-digit gains of 16% and 12%, respectively. At the bottom, SYS-DAT fell 2.8%.
Among SMEs, Edgelab delivered a strong performance, up 9.5% to EUR4.730 per share.
Lindbergh signed a binding agreement to acquire 100% of the share capital of Alpiclima di Giuseppe Camaglio & C., with closing expected by November 15. The stock soared 4.2%.
SG Company–down 1.3%–signed a binding agreement to establish and maintain a 51% stake in Sounds Great Srl.
Franchi Umberto Marmi, which hit an annual low at EUR3.70 per share, closed down 4.0% after a EUR15,000 buyback.
Ubaldi Costruzioni, which bought 9,800 shares for EUR37,000, finished flat at EUR3.75 per share.
Newly listed Markbass soared over 30% to EUR4.80 per share, along with Officina Stellare, which gained 12%. Powersoft closed the basket down 5.3%, followed by Tecma Solutions at 5.2%.
In New York, the Dow Jones is down 0.2%, the Nasdaq is up 0.7%, and the S&P 500 is up 0.3%.
On the currency front, the euro trades at USD1.1715 from USD1.1738 at Friday’s equity close, while the pound trades at USD1.3479 from USD1.3467 on Friday evening.
Among commodities, Brent crude trades at USD65.23 per barrel from USD64.73 at Friday’s close, while gold is valued at USD3,955.26 an ounce from USD3,880.25 an ounce on Friday evening.
Looking ahead to Tuesday’s economic calendar, with the Chinese and Hong Kong stock exchanges closed for holidays, the focus at 0800 CEST will be on UK house prices, while at 0845 CEST French trade balance data will be released.
At 1430 CEST, the US trade balance report is due, and at 1700 CEST, US consumer inflation expectations will be published.
At 1830 CEST, Christine Lagarde, President of the European Central Bank, will deliver a speech.
No significant announcements are expected from Piazza Affari.
By Michele Cirulli, Alliance News Reporter
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