(Alliance News) - The Mib on Monday continued with the bearish trend, in its fourth bearish session, placing the point bar in the 30,000 area and touching new six-month lows. The decline is in line with other European exchanges amid a slump in global markets driven by fears of prolonged high interest rates, as well as weakness in the U.S. labor market.

On the domestic front, the Italian services PMI rose less than expected, from 53.7 to 51.7 in July 2024, well below the 52.9 estimated by analysts.

Thus, the FTSE Mib is giving up 3.0 percent to 30,056.94, the Mid-Cap is giving up 2.6 percent to 44,339.13, the Small-Cap is losing 2.3 to 27,392.81, and Italy Growth is down 3.0 percent to 7,696.85.

In Europe, Paris' CAC 40 is giving up 2.3 percent, London's FTSE100 is in the red by 2.2 percent, and Frankfurt's DAX 40 is giving up 2.6 percent.

On the Mib, a list completely in the red, Saipem is giving up 5.8 percent. The company announced Monday that it has initiated a program to purchase 18.6 million of its own ordinary shares to service the 2024 award of the company's 2023-2025 Long-Term Variable Incentive Plan. The potential maximum outlay for the purchase of these shares is estimated at around EUR40.3 million.

Nexi, on the other hand, is giving up 5.9 percent on the heels of Friday night's 4.4 percent red.

For Iveco Group, on the other hand, the decline is 4.6 percent, in position for the third bearish session. On the stock it is reported that a few days ago Capital Fund Management raised its short on the stock to 1.06% from 0.91% previously.

Banca Monte dei Paschi, on the other hand, is leaving 4.3 percent on the parterre, in its fourth bearish session.

On the cadet segment, it is advancing-among the few bullish performers-Carel Industries, which scores a plus 2.4 percent, after two sessions closed down. Last week on Thursday it approved its half-year results as of June 30, a period that ended with a profit of EUR27.8 million, down 31 percent from EUR40.3 million as of June 30.

Tinexta, on the other hand, is falling in double digits over 14 percent, on its third bearish candle. The board of directors on Friday approved the half-year report as of June 30, which closed with a net profit of EUR2.3 million from EUR45.1 million. In contrast, adjusted profit from continuing operations was EUR11.9 million from EUR18.8 million for the same period in 2023.

MARR, on the other hand, is giving up 5.4 percent to EUR10.48 per share, in its third bearish session. The company disclosed a few days ago that it had closed the first half with a net profit of EUR17.5 million from EUR18.7 million in the same period of 2023. Total consolidated revenues amounted to EUR987.7 million, down from EUR1.00 billion in the same period of 2023.

Danieli & C is marking minus 4.8 percent, on its third bearish candle.

Among smallcaps, Datalogic is advancing 5.8 percent, after a 1.7 percent green in the previous session. The company reported Friday its first-half results, which closed with a profit of EUR9.3 million from EUR12.1 million in the same period a year earlier. Revenues amounted to EUR244.6 million, down from EUR288.9 million in the first half of 2023.

Purchases also on Bialetti, which moves up 2.3 percent, after the previous session's 2.9 percent green.

Beewize gives up more than 10%, however, after two sessions closed in the green.

Bioera contracts 9.8 percent, after 4.8 percent in the red in the previous session.

Among SMEs, Confinvest marks a plus 3.7 percent, breaking a four-session bearish mini-trend.

Good buying also on Health Italia, which is up 1.1 percent after four sessions closed with a bearish candle.

Ecosuntek, on the other hand, is giving up 11 percent, in its third bearish session.

Iervolino & Lady Bacardi, on the other hand, is giving up 9.4%, after Friday's flat session, with price at EUR0.44 per share.

FOS -- in the red by 2.3 percent -- reported Monday that it ended the first half of the year with sales revenues at EUR11.9 million, up 6.0 percent from EUR11.3 million in the same period of 2023. Net financial debt was EUR1.8 million from a cash positive figure of EUR300,000 as of Dec. 31.

In New York, the Dow gave up 1.5%, the Nasdaq lost 2.4% while the S&P 500 closed 1.8% in the red.

In Asia, the Nikkei lost 12 percent, the Hang Seng gave up 1.5 percent, while the Shanghai Composite closed down 1.5 percent.

Among currencies, the euro changed hands at USD1.0948 against USD1.0916 on Friday in closing European equities while the pound was worth USD1.2744 from USD1.2801 on Friday evening.

Among commodities, Brent crude is trading at USD75.24 per barrel from USD76.92 per barrel at Friday's close. Gold, on the other hand, trades at USD2,422.23 an ounce from USD2,427.31 an ounce Friday evening.

Monday's macroeconomic calendar features the U.S. S&P Global PMI Composite Index and the Tertiary Sector Index at 1600 CEST.

By Maurizio Carta, Alliance News reporter

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