(Alliance News) - On Monday, Piazza Affari closes in the green by touching 33,500, not particularly affected by the macroeconomic data released during the day.

In the Eurozone, the Paris stock exchange closed lower in the wake of political tensions while the Frankfurt square did better than all, despite the continued contraction in German manufacturing.

"It was a mixed day for European markets, particularly French markets," is the comment of Chris Beauchamp, chief market analyst at IG.

According to the analyst, "early signs of a breakthrough by the Barnier government were undone by Barnier himself, who decided to throw caution to the wind by passing his budget, provoking the inevitable suggestions of censure from the left and right."

"The political crisis in France looks set to erupt once again, weighing on risk appetite in a eurozone already struggling to create sustainable growth," Beauchamp concludes.

The FTSE Mib closes Monday up 0.2 percent to 33,483.17, the Mid-Cap falls 0.5 percent to 46,829.1, the Small-Cap loses 0.3 percent to 27,250.12, and Italy Growth rises 0.6 percent to 7,724.39.

London's FTSE 100 closes in the green by 0.3 percent, Paris' CAC 40 ends down 0.1 percent, and Frankfurt's DAX 40 registers a rise of 1.4 percent.

On the macroeconomic front, in the U.S., the manufacturing PMI index released Monday by ISM rose to 48.4 in November from 46.5 in October, exceeding forecasts of 47.5.

The figure indicates another contraction in the manufacturing sector. Manufacturing slowed, in line with low demand and poor order backlogs.

Also in the US, construction spending rose 0.4 percent in October from the previous month, according to data released by the US Census Bureau on Monday.

In the UK, the Nationwide index of UK house prices rose 3.7 percent year-on-year in November, the highest since November 2022, following a 2.4 percent increase in October and above forecasts of 2.4 percent.

Back in Milan, on the highest-capitalization list of the Milan Stock Exchange, Nexi does best of all and rises 5.5 percent. Campari also did well, up 2.4 percent, while Assicurazioni Generali, up 1.7 percent, closes the podium.

Among the bearers, sits on the bottom Stellantis, down 6.3%, after, surprisingly, after months of tension, Carlos Tavares resigned as CEO, effective immediately.

Italgas ends 2.1 percent in the red. Millennium International Management has limned its short position on the stock to 0.79% from 0.80%.

The board of directors of Telecom Italia -- down 1.6 percent --, noting the advanced state of ongoing negotiations with the Ministry of Economy and Finance and Retelit for the purchase of TI Sparkle, agreed to the latter's request to extend the deadline for receipt of a binding offer to Dec. 16.

The former monopolist reported on Friday that it had cashed in EUR250 million from the sale to Ardian of the remaining 10 percent in Inwit, which instead finished at a breakeven.

FinecoBank - in the green by 1.3 percent - announced on Monday that it had received from the Single Resolution Board (SRB) and the Bank of Italy the updated decision on the determination of the minimum requirement of own funds and eligible liabilities (MREL), which replaces the previous decision communicated to the public in December 2023.

Recordati gives up 0.8 percent. The company announced Friday the completion of the acquisition of the global rights to Enjaymo from Sanofi, following regulatory approvals.

Enjaymo is a biologic drug and the only approved product targeted for the treatment of cold agglutinin disease, a rare B-cell lymphoproliferative disorder. It is a humanized monoclonal antibody indicated for the treatment of hemolysis in adults with CAD.

UniCredit -- in the green by 1.2 percent -- reported that the board of directors of its subsidiary UniCredit Leasing, appointed Salvatore Saulino as its new chief executive officer.

On the Mid-Cap, among the best bullish performers, Alerion closes in the green by 3.7 percent, bringing its gain over the past month to 22 percent.

Maire Technimont closes unchanged at EUR7.25. The company, through its subsidiary Nextchem, inaugurated in Catania the "Nx engineering district," a high-tech engineering center located in the Science and Technology Park of Sicily.

Salvatore Ferragamo closes up 3.3 percent. JPMorgan cut the stock's target price to EUR5.30 from EUR6.50 with 'underweight' rating.

On the Small-Cap, CY4Gate - down 1.7 percent - reported Friday that it has signed contracts worth a total of about EUR1.2 million with leading Italian corporate and institutional clients to acquire solutions in Cyber Security and Forensic Intelligence.

doValue closes 1.6 percent in the red. Spark Investment Management cut the stock's short position to 0.76 percent from 0.90 percent.

Among the bearers are Aquafil and SS Lazio, down 6.4% and 6.0%, respectively.

Netweek collapses, down 15 percent, marking a new low for the year.

Among SMEs, UCapital24--down 4.1%--reported that the board has proposed a EUR2.8 million capital increase to shareholders to support the company's growth.

In addition to covering recent losses, the deal will allow the Piazza Affari-listed fintech to push the development of new platforms the company has been working on during 2024 that have positioned the company "as one of the most disruptive players in the global market."

Bellini Nautica -- in the red by 0.7 percent -- on Monday disclosed that it had signed a lease agreement, as sole lessee, with Marina di Ponente Srl, covering two properties for commercial use at the Marina di San Lorenzo al Mare, in the municipality of San Lorenzo al Mare, Via Aurelia 3.

Portobello rises 2.5 percent. The company announced Friday that the president, Pietro Peligra, has resigned from his position.

He will be replaced by Sandro Nardi. As PMI explains, the resignation of Peligra, who held a nonexecutive role, is motivated by the need "to make the management of the company more adherent to the operational challenges of the moment, particularly in the current phase of relaunching and growth."

TraWell Co ends unchanged at EUR6.94. The company reported Friday that the board has resolved to remove its common shares from the U.S. OTCQX market.

The company said decision is in line with its strategic goals to simplify operations and consequently limit its listing to only Euronext Growth Milan, operated by Borsa Italiana. The listing on the OTCQX market will end on December 31.

Eprcomunicazione--flying 11 percent--reported Monday that subsidiary Justbit srl has signed a digital consulting and web services management contract with a multinational group. The assignment has an amount of about EUR1.2 million for each of the planned years.

In New York, the Dow is in the red by 0.2 percent, the Nasdaq rises 1.0 percent, and the S&P 500 gains 0.3 percent.

Among currencies, the euro changes hands at USD1.0483 from USD1.0556 on Friday in closing European equities. The pound is worth USD1.2636 versus USD1.2689 on Friday evening.

Among commodities, Brent crude is worth USD71.81 per barrel from USD73.38 at Friday's close. Gold trades at USD2,663.49 an ounce from USD2,655.54 an ounce Friday evening.

Tuesday's macroeconomic calendar opens at 0900 CET from Spain with the unemployment rate.

In the afternoon, from the US, at 1600 CET it is the turn of the JOLTS report; at 1835 CET the Fed's Kugler speech is expected, while at 2145 CET, Goolsbee's is expected.

Also from the US, we close at 2230 CET with the oil stocks data.

Among the companies listed in Piazza Affari, no particular announcements are expected.

By Antonio Di Giorgio, Alliance News reporter

Comments and questions to redazione@alliancenews.com

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