FTSE Mib Opens Slightly Higher, Led by Generali

(Alliance News) – On Monday, the Mib opened slightly higher after closing lower on Friday, as European and global markets remain cautious ahead of the July 9 deadline, when the US president is set to reinstate tariffs.

The blue-chip index at Piazza Affari posted a modest 0.1% gain to 39,651.85 points.

The Mid-Cap also edged up 0.1% to 54,056.43, the Small-Cap hovered just above parity at 32,070.97 points, and the Italy Growth index was flat at 8,256.52 points.

Elsewhere in Europe, Paris’ CAC 40 opened up 0.1%, Frankfurt’s DAX 40 rose 0.3%, while London’s FTSE 100 slipped 0.2%.

Back at Piazza Affari, Generali led the Mib with a 1.1% rise to EUR30.32 per share after JPMorgan raised its price target to EUR37 from EUR34, rating the stock as overweight.

Banca Monte dei Paschi di Siena climbed 0.8% after Fitch Ratings upgraded its long-term issuer default rating to 'BBB-' from 'BB+', lifting the Sienese bank into investment grade territory.

The public exchange offer launched by MPS for Mediobanca is pending review, although the Nagel-led bank has already issued a firm rejection, citing a lack of sound industrial logic for the deal.

Mediobanca opened down 0.4%: the Gavio group sold 150,000 shares and Aurelia another 100,000, capitalizing on the window to take profits as the stock retreats from May highs.

Meanwhile, in the ongoing banking reshuffle, Wednesday, July 9, will see the Lazio Regional Administrative Court (TAR) rule on UniCredit’s appeal against the government’s Golden Power decree related to the Banco BPM affair, which imposes several restrictions on the deal. Shares of both banks opened up 0.3%.

Stellantis fell 2.6% at the open, followed by Saipem, down 2.1%.

In the Mid-Cap segment, Cembre led the board with a 2.2% gain to EUR56.30 per share, extending its positive run over the past 30 days, during which the company has grown by 2%. The six-month balance is up 38%.

El.En. announced Monday it had bought back 5,000 of its own ordinary shares for a total outlay of EUR55,835.09. The stock slipped 0.2% to EUR11.35.

The signing of striker Jonathan Christian David lifted Juventus shares 0.3% to EUR3.0 per share.

NewPrinces, currently flat at EUR17.10, announced the purchase of treasury shares worth approximately EUR2 million.

Comer Industries ended the board at the bottom, falling 1.9%.

Among small caps, Bologna’s Guglielmo Marconi Airport opened up 0.2% after announcing it surpassed the one-million passenger milestone in June.

EPH topped the board with a 5.9% increase, extending its positive performance over the past month, which saw a 2.6% rise.

Digital Bros, which hit a new 52-week high at EUR16.68 per share on Friday, rose 0.4%.

Giglio.com was at the bottom of the board, dropping 2.6% to EUR0.225 per share.

On the Italy Growth front, GEL led again with its second consecutive positive session, the stock rising 8.9%.

Following closely, as on Friday, was Haiki+, buoyed by the acquisition of Ecobat Resources for EUR22.9 million. The stock rose 4.2%.

Lindbergh announced Monday it had, through its subsidiary SMIT, signed a preliminary agreement to acquire 100% of Termotecnica Monzese, a company active for over 50 years in the heating and air conditioning maintenance sector in the Monza and Brianza province. Lindbergh rose 1.9%.

DBA Group announced a buyback plan for EUR38,252.82, though the stock has yet to see any trades.

Eprcomunicazione remained at the bottom of the SME segment, down 6%.

In Asia, the Nikkei closed down 0.6% on Monday, the Shanghai Composite ended slightly lower, and the Hang Seng was off 0.2%.

Markets were closed in New York on Friday, July 4, for Independence Day celebrations.

In currency markets, the euro traded at USD1.1750 from USD1.1780 at Friday’s close, while the pound exchanged at USD1.3606 from USD1.3645 on Friday evening.

Among commodities, Brent crude traded at USD68.28 from USD68.31 per barrel at the previous close, while gold was valued at USD3,309.77 from USD3,332.55 per ounce on Friday.

Monday’s economic calendar features a focus on UK mortgage data at 10:30 CEST.

At 10:00 CEST, a speech is expected from the Bundesbank president.

At 10:30 CEST, Eurozone investor confidence indicators will be released, and at 11:00 CEST, the euro area retail sales report will be presented.

At Piazza Affari, CleanBnB’s earnings are expected.

By Michele Cirulli, Alliance News Reporter

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