(Alliance News) - On Monday, Piazza Affari is moving in a bullish trend, with the point bar in the 32,700 area, in line with other European exchanges, after last week's sharp sell-off. Traders began the week in a positive mood, awaiting updates on the French political situation.

Later in the week, the Bank of England is expected to confirm the current rate, with the swap market pricing in the first cut no earlier than August.

Among the day's economic news, Chinese retail sales rose in May but industrial production growth slowed, official data released Monday showed, suggesting that the recovery in the world's second-largest economy remains uneven.

According to the National Bureau of Statistics, retail sales a key indicator of consumer spending grew 3.7 percent year-on-year in May, up from April's 2.3 percent increase. The figure was also higher than the 3.0 percent increase predicted in a survey of Bloomberg analysts.

Thus, the FTSE Mib is advancing 0.4 percent to EUR32,797.28.

Among the smaller listings, the Mid-Cap is advancing 0.4 percent to 46,563.14, the Small-Cap is advancing 0.5 percent to 28,382.29 while Italy Growth is posting a fractional green at 8,049.38.

In Europe, London's FTSE 100 -- the only bearish one -- is giving up 0.1 percent, Paris' CAC 40 is marking plus 0.1 percent, while Frankfurt's DAX 40 is registering a gain of 0.2 percent.

On the blue chip list, good session for BPER Banca, which moves ahead 0.6% to EUR4.38 per share, rebounding after five sessions among the bearish.

Also among the banks is Banca Popolare di Sondrio, which scores a plus 1.7 percent, after two bearish sessions.

For UniCredit, on the other hand, the rise is 0.8 percent, turning upward after two sessions among the bearish.

Banca Mediolanum -- in the green by 0.5 percent -- announced Friday that it had bought back 496,000 of its own shares between June 10 and June 14 and for a total value of EUR5.3 million. Thus, the company holds 4.6 million shares, representing 0.6 percent of the share capital.

Pirelli -- in the green by 0.4 percent -- announced Friday that S&P Global Ratings had revised its rating on the company, confirming its investment grade BBB- rating and improving the outlook from "stable" to "positive." In explaining the reason for the upward revision of the outlook, "the agency stressed that Pirelli is well positioned to deliver on its business plan for 2024-2025, has solid cost discipline and a strong positioning in High Value tires that allows it to generate stable operating cash flow with a consequent reduction in leverage," as the company explained in a note.

Tenaris - in the red by 0.1 percent - reported that it has completed the third tranche of its USD1.2 billion buyback plan and started the fourth. During the third tranche, the company bought back 18.1 million of its own ordinary shares with a total value of USD300 million. To date, the company holds 34.4 million of its own ordinary shares, accounting for just under 3.0 percent of its share capital.

ERG, on the other hand, gives up 2.6 percent in its third session among the bearish, pricing itself in the EUR24.24 area.

On the Mid-Cap, Rai Way confirms the bullish trend seen in the opening, advancing 1.8%, setting the price at EUR5.11 per share after two sessions closed with a bearish candle.

Also advancing well is OVS, which moves up 0.6 percent, rearing its head after two sessions among the bearish.

Doing better than all is Intercos, which is ahead 2.2 percent after the 1.6 percent green in the previous session.

For Lottomatica, on the other hand, the upside is 0.1 percent to EUR10.58 per share, after pushing up to EUR10.65. Redburn Atlantic initiated coverage on Lottomatica, rating it 'neutral' and setting a target price of EUR12.45.

Among the few bearish performers, Salvatore Ferragamo retreats 0.2 percent, following Friday night's green with 2.0 percent.

On the Small-Cap, Newlat Food advances more than 11% to EUR10.98 per share before going into volatility auction, after the 0.4% decline with which it closed Friday evening.

Eems, on the other hand, advances 9.8 percent, with new price at EUR0.26 per share and rearing its head again after two sessions closed at a loss.

Fiera Milano, on the other hand, marks a plus 6.6%, rebounding after five sessions ended with bearish candles.

CY4Gate - in the letter with 0.2 percent - announced Monday that it has signed contracts worth a total of about EUR1.7 million through one of its subsidiaries for the renewal and evolution of solutions in decision intelligence in foreign markets.

Among the bearish, also a minority in this list, Landi Renzo is stepping back 3.0 percent, after two sessions ended among the bearish.

Among SMBs, boost on iVision Tech, which moves ahead 3.2% after two bearish sessions.

Emma Villas advances 3.6%, breaking the four-session bearish mini-trend.

Good buying also on Pharmacosmo, which takes the bar forward 3.3% to EUR0.8160.

ATON Green Storage moves ahead 4.6 percent, heading to ring up its seventh bullish session.

Among the bearish, in a still uneventful list, CrowdFundme is giving up 6.7 percent, after two bullish sessions in which it rallied an aggregate of nearly 18 percent.

In New York on Friday night, the Dow gave up 0.2 percent, the Nasdaq rallied 0.1 percent, and the S&P 500 closed just below par.

In Asia, the Nikkei gave up 1.8 percent, the Shanghai Composite gave up 0.6 percent, while the Hang Seng closed just below par.

Among currencies, the euro changed hands to USD1.0713 from USD1.0694 in Friday's European stock close while the pound was worth USD1.2668 from USD1.2678 on Friday evening.

Among commodities, Brent crude is trading at USD82.54 per barrel from USD82.78 per barrel at Thursday's close. Gold, on the other hand, trades at USD2,320.05 an ounce from USD2,331.03 on Thursday evening.

On Monday's macroeconomic calendar, a three- and six-month U.S. T-Note auction is scheduled and a speech by FOMC member Harker in late afternoon Europe.

By Maurizio Carta, Alliance News reporter

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