Mib Down to 39,900; Tenaris Leads as Best Performer

(Alliance News) - European stock markets continued trading in negative territory on Monday, weighed down by an increasingly tense geopolitical backdrop.

Among the key factors pressuring the markets was the escalating tension between the US and China. Beijing accused Washington of violating a recently reached trade agreement, following comments from President Trump last week that China had failed to honor its commitments.

In Milan, 12% of stocks are trading higher, 16% are down, 2% are unchanged, while the remaining 70% have yet to be traded. The total traded value exceeds €826 million.

Adding further pressure to the markets was Trump's announcement to double tariffs on steel and aluminum, raising them from 25% to 50%. The decision drew sharp criticism from the EU.

Meanwhile, investor focus is turning to the upcoming European Central Bank meeting scheduled for this week. Market consensus is increasingly leaning towards another rate cut, as the central bank appears set to reinforce its accommodative policy to counter macroeconomic uncertainty.

The FTSE Mib is currently down 0.3% at €39,973.41, with the put/call volume ratio at 2.14.

Among the secondary indices, the Mid-Cap is down 0.6% to 54,177.12, the Small-Cap is down 0.5% to 31,638.54, while the Italy Growth index is just above flat at 8,115.28.

London's FTSE 100 is just above the flat line, while Paris' CAC 40 is down 0.5%, as is Frankfurt's DAX 40.

On the Mib, among the minority of gainers, Tenaris is up 3.5%, rebounding after two consecutive bearish daily candles.

Italgas is up 0.9% to €6.85 per share. Notably, Barclays has cut its target price to €7.00 from €7.20 per share.

Iveco is down 4.1% to €16.83 per share after a 0.3% gain in the previous session.

Stellantis is down 3.3% following the appointment of Antonio Filosa as the new CEO, which was formalized at the end of last week. The decision came as scheduled and under the supervision of John Elkann, with the board unanimously approving Filosa's appointment, entrusting him with the role previously held by Carlos Tavares until December 2024.

Brunello Cucinelli is down 2.4% after two bullish sessions. Notably, Greenvale Capital has cut its short position on the stock to 0.43% from the previous 0.55%.

On the Mid-Cap, Salvatore Ferragamo is down 2.4%, following a 1.3% loss in the previous session.

Industrie de Nora is down 3.0% to €6.35 per share, after gaining 2.2% in the previous session.

Danieli & C, down 1.4%, announced on Friday that it has reaffirmed its presence in Japan with the sale of a new 320-ton steel plant to JFE Steel and an upgrade of a Bar Mill for Godo Steel. The steel plant is expected to become operational in the second half of 2028.

Alerion is up 8.5%, heading for its fifth consecutive session in positive territory.

Juventus Football Club is up 3.9% after announcing the appointment of Damien Comolli as the company's new general manager. Comolli will report to CEO Maurizio Scanavino and will be responsible for both the Football and Revenue areas.

On the Small-Cap, Zest is down 5.0%, as investors take profits after five consecutive bullish sessions.

AbitareIn is down 2.9%, bringing the price to around €3.20 and pushing its year-to-date loss to over 27%.

Somec is down 2.5% to €13.45 per share, marking its fourth consecutive bearish candle if confirmed at close.

Elica is down 1.4%, following a 0.4% drop on Friday evening. According to MarketScreener, based on two analyst ratings, the stock has a target price of €1.70, making it about 25% undervalued.

Seri Industrial is showing strength, up 7.5% after four consecutive bearish sessions.

Neodecortech is also performing well, up 3.5% after three bearish sessions.

Among SMEs, Cloudia Research is up over 14% before entering a volatility auction, with the last price at €2.04. The stock closed the previous two sessions in positive territory.

Compagnia dei Caraibi is up 3.5%, potentially marking its third consecutive bearish candle if confirmed at close.

Doxee is down 6.2%, pushing the price to around €1.75 after a flat session on Friday.

Gentili Mosconi, down 2.1%, announced on Friday that it closed the first quarter with consolidated revenues of €10.8 million, compared to €11.6 million as of March 31, 2024. Net financial position is cash positive at €11.6 million, down from €12.9 million as of December 31, 2024.

In New York on Friday evening, the Dow gained 0.1%, the Nasdaq closed down 0.3%, while the S&P 500 finished just below flat.

In Asian markets, the Nikkei closed down 1.3%, the Hang Seng lost 0.6%, while the Shanghai Composite in China remained closed for a holiday.

In currencies, the euro is trading at USD1.1426 from USD1.1351 on Friday evening, while the pound is at USD1.3543 from USD1.3476 on Friday evening.

In commodities, Brent crude is trading at USD64.80 per barrel from USD62.48 per barrel on Friday evening, while gold is valued at USD3,346.67 an ounce from USD3,287.32 an ounce on Friday evening.

Monday's macroeconomic calendar includes the release of US manufacturing PMI data at 15:45 CEST, followed by a speech from Fed Chair Powell at 19:00 CEST.

By Maurizio Carta, Alliance News senior reporter

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