(Alliance News) - European stock exchanges started the week in green on Monday, with China's higher-than-expected manufacturing PMI lifting investors' mood as traders expect the European Central Bank's first rate cut this week.

Thus, the FTSE Mib is in the green by 0.8 percent to 34,712.89, the Mid-Cap gains 0.5 percent to 47,970.87, the Small-Cap rises 0.2 percent to 29,518.66, while Italy Growth advances 0.2 percent to 8,203.20.

In Europe, London's FTSE 100 is in the green by 0.3 percent, Frankfurt's DAX 40 is up 0.8 percent, and Paris' CAC 40 is in the green by 0.7 percent.

On the Mib, Poste Italiane opens up 1.7 percent after announcing Friday that from Monday, June 3, it will launch a new buyback plan involving 3.5 million of its own shares for a maximum outlay of EUR56 million.

Doing better are STMicroelectronics, in the green by 2.2%, and Leonardo, which gains 1.8%.

UniCredit is in the green by 1.0% after announcing Monday that it will exercise an early redemption option on two securities issued in 2019.

In detail, the bank will prepay the EUR1.25 billion fixed-rate bond due in June 2025 and the EUR750.0 million bond due in July 2025.

Both redemptions will take place at par, with the first to be executed on June 25 this year and the second to take place on July 3.

BPER Bank -- in the green by 0.1 percent -- on Thursday announced the early closure to Dec. 31, 2024 of the 2022-2025 business plan in light of the early achievement of key economic and financial targets. Thus, the board of directors mandated the CEO to prepare a new 2024-2027 plan.

In the cadet segment, Banca Ifis - flat at EUR20.18 - disclosed that Katia Mariotti, current head of the NPL department, has completed the three-year business plan of the same department, and will undertake a new professional position at AMCO - Asset Management Company as of August 3.

At the top are Cembre, up 3.4 percent, MFE's A shares, and Buzzi, up 2.5 percent.

On the Small-Cap segment, Sogefi opens up 0.9 percent after announcing Friday that it has finalized the sale of its Filtration division to U.S. investment fund Pacific Avenue Capital Partners.

The cash consideration received by Sogefi, in line with the February 23 announcement, was EUR331.2 million, determined based on an enterprise value of EUR374 million and adjustments that take into account estimated net working capital and net financial position as of May 31, 2024.

The board of Softlab -- not yet affected by trading -- approved the draft consolidated financial statements as of Dec. 31, 2023, closing with a loss of EUR400,000 compared to a profit of EUR3.2 million in the year 2022.

Retex announced Monday that it has launched a tender offer for Alkemy shares, which opens with a theoretical rise of 24 percent.

The offer is EUR12.00 for all 5.7 million ordinary shares of the company and is aimed at delisting Alkemy. Duccio Vitali, managing director of Alkemy, will join the offer with his 625,616 shares, representing 11 percent of Alkemy's share capital.

The value offered by Alkemy represents a premium of 21 percent over the closing on Friday, May 31, and 16 percent over the average of the last 12 months, 9.7 percent over the average of the last six months, and 22 percent over the average of the last quarter.

Cellularline still does not trade. The company announced Friday that Worldconnect AG's minority shareholders, Samuel Gerber and CAE Invest AG, have each exercised their put option to sell 10 percent of Worldconnect's share capital to Cellularline.

Cellularline thus comes to hold a 90% controlling stake in Worldconnect.

Among SMEs, IMD International Medical Devices is not yet trading. The company announced Friday that it has signed an agreement to acquire a 30 percent stake in General Medical Italia LTD with its partner UK Medical Imaging Ltd.

The total price for the 30% purchase was set at EUR300,000, to be paid in cash in full on the closing date.

Gentili Mosconi rises 1.3 percent and reported Friday that revenues in the first quarter were EUR11.6 million, compared to EUR13 million in the same period of fiscal 2023.

"The decline in revenues of about 11 percent is mainly attributable to the performance of the apparel fabrics business line, which, also in the first months of the fiscal year, was impacted by the continued slowdown in the luxury market," the note said.

Pattern opens up 3.4 percent after announcing Thursday that it has signed a binding investment agreement to purchase, through its 80 percent subsidiary SMT Srl, 100 percent of Umbria Verde Mattioli Srl, an Umbrian company specializing in the production, processing and marketing of luxury knitwear.

The agreed price is EUR20.0 million and will be paid by SMT to the sellers in several tranches.

In Asia, the Nikkei closed in the green 1.1 percent to 38,923.03, the Hang Seng gained 1.8 percent to 18,411.59, and the Shanghai Composite closed in the red 0.3 percent to 3,078.49.

In New York on Friday, the Dow closed up 1.5 percent to 38,686.32, the Nasdaq finished fractionally in the red at 16,735.02 while the S&P 500 closed in the green 0.8 percent to 5,277.51.

Among currencies, the euro changed hands at USD1.0847 from USD1.0845 on Friday in European equities closing while the pound was worth USD1.2726 from USD1.2724 on Friday evening.

Among commodities, Brent crude trades at USD81.17 per barrel from USD81.66 per barrel on Friday. Gold, on the other hand, trades at USD2,325.02 an ounce from USD2,329.79 an ounce on Friday night.

Monday's macroeconomic calendar features the Italian manufacturing purchasing managers' index at 0945 CEST.

In the next ten minutes, the same PMI will also come out from France and Germany, while at 1000 CEST will come the Eurozone one and at 1030 CEST the UK one.

In the afternoon, at 1600 CEST, the manufacturing PMI will come from the US instead.

In Piazza Affari, Visibilia Editore's results are expected.

By Chiara Bruschi, Alliance News reporter

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