Mib Falls Below 40,500; STM Leads the Pack

(Alliance News) - On Monday, major European stock markets closed lower as meetings between the US and China took place in London, aiming to smooth over the most contentious issues in the trade war sparked by Donald Trump's tariffs.

"Buoyed by the robust employment report published on Friday, markets managed to shrug off Chinese trade data from the weekend. Now, investors are waiting to see what will come out of the latest US-China negotiations. Any kind of deal would be welcome, but even a decision by both sides to simply keep talking could suffice. Apparently, dialogue is preferable to a trade war, and much will obviously depend on this week's US inflation data, which still has the power to surprise," commented Chris Beauchamp, analyst at IG.

"Gold has been a safe haven for many investors in these uncertain times, but gains in the precious metal mean that alternatives are being sought. Platinum has been one of the beneficiaries as investors look for other stores of value and, with demand picking up in China, there is hope this metal could replicate some of gold's impressive run."

As a result, the FTSE Mib closed down 0.4% at 40,461.79, the Mid-Cap slipped 0.3% to 54,681.33, the Small-Cap gained 0.1% to 31,504.51, and the Italy Growth fell 0.1% to 8,110.84.

Across Europe, London's FTSE 100 ended down 0.1%, Frankfurt's DAX 40 slipped 0.5%, while Paris' CAC 40 was down 0.2%.

Back in Milan, on the main Piazza Affari list, STMicroelectronics posted the day's best performance, rising 2.9%, followed by Campari, up 2.2%, with DiaSorin rounding out the podium with a 1.9% gain.

DiaSorin announced it has received 510(k) authorization from the US FDA for its new LIAISON PLEX Gram-Positive Blood Culture Assay multiplex molecular test panel, dedicated to identifying bloodstream infections. This new test adds to the company's already approved respiratory infection panel, expanding its diagnostic offering.

FinecoBank--up 1.7%--reported that net inflows in May saw a significant acceleration, exceeding EUR1.3 billion, marking a 39% increase from EUR946 million a year ago.

Among the decliners, Iveco Group fell to the bottom, losing 2.5%, while Generali ended down 2.2% and Hera slipped 1.7%.

Among mid-caps, Technoprobe--up 1.5%--announced Friday that its board has proposed to shareholders to increase the number of board members from nine to ten.

Additionally, the board has requested authorization to buy back shares for up to EUR60.0 million, a higher amount than the current EUR50.0 million buyback plan, which is proposed for revocation.

Anima Holding rose 0.7%. The company reported that it closed May with particularly strong net inflows in the asset management sector, registering an increase of EUR623 million, net of class I insurance mandates, as specified by the company. This result brings total assets under management to EUR205.2 billion, or EUR206.3 billion when including administered assets.

Sesa closed positive, up 3.0%. Carel Industries also rose, gaining 3.3%, and d'Amico advanced 1.7%, while Acea, Lottomatica, and Banca Generali closed with losses of 2.6% for the first two and 2.4% for the latter.

On the Small-Cap index, EPH lost 7.8%. Class Editori closed with a gain of around 35%, while Eems surged 23%.

Caleffi rose 1.3% after announcing Monday the launch, starting June 10, of a buyback program for up to 125,000 own shares.

The shares may be purchased up to a maximum consideration of EUR100,000.

Among SMEs, Alfonsino gained 7.0% after announcing Monday the signing of a new national agreement with the I Love Poke brand, a poke chain in Italy and brand in the fast casual healthy food segment.

The agreement provides for the activation of Alfonsino's delivery service in four Italian cities: Rome, Nola, Casoria, and Salerno, further strengthening the platform's presence in strategic areas of Central and Southern Italy.

Eprcomunicazione--flat at EUR1.34 per share--announced Friday that its subsidiary Justbit Srl has won a EUR110,000 contract.

The contract covers management of the mobile application of a major multi-utility until the end of 2025.

In New York, the Dow was down 0.1% at 42,742.51, the Nasdaq gained 0.3% at 19,589.96, and the S&P 500 was up 0.1% at 6,007.61.

In currencies, the euro traded at USD1.1422 from USD1.1386 late Friday, while the pound traded at USD1.3562 from USD1.3519 Friday evening.

In commodities, Brent crude traded at USD66.90 a barrel from USD66.14 a barrel late Friday, while gold was worth USD3,351.72 an ounce from USD3,351.17 an ounce Friday evening.

Tuesday's calendar opens at 0101 CEST with UK retail sales data.

At 0800 CEST, the UK will see unemployment rate data, while Japan releases machine tool orders and an hour later, Switzerland publishes the SECO economic forecast.

At 1000 CEST, Italy releases industrial production data, followed at 1030 CEST by the Sentix investor confidence index.

In the afternoon, on the bond front, French BTF auctions with three, six, and twelve-month maturities are expected at 1500 CEST, while in the US, Treasury bill auctions with three and six-month maturities are scheduled.

No significant announcements are expected from companies listed on Piazza Affari.

By Michele Cirulli, Alliance News Reporter

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