(Alliance News) - On Monday, European stock markets proceeded in negative territory amid a general mood of caution after disappointing economic data from China and as traders weighed the repercussions of the attack on Donald Trump would see his chances of winning the U.S. presidential election increase.

On the Asian giant, it is reported that the economy expanded by an annual 4.7 percent in the second quarter of 2024, missing market forecasts of 5.1 percent and slowing from the first quarter's 5.3 percent growth, according to data shown Monday by the National Bureau of Statistics of China. It was the weakest annual increase since the first quarter of 2023, due to the persistent downturn in the real estate sector, weak domestic demand, the falling yuan and trade frictions with the West.

In Europe, industrial production in the Eurozone fell 0.6 percent month-on-month in May, but doing better than market expectations of a 1 percent drop and after a flat reading in the previous month. The data were released Monday by Eurostat. On a year-on-year basis, output fell 2.9 percent in May from a year earlier, after an upwardly revised 3.1 percent drop in April.

Thus, the FTSE Mib is in the red 0.2% to 34,509.10, the Mid-Cap is in the green 0.6% to 48,768.27, the Small-Cap gives up 0.3% to 29,170.54 while Italy Growth rises 0.3% to 8,124.24.

In Europe, Paris' CAC 40 is in the red by 0.4 percent, London's FTSE100 is down 0.2 percent as is Frankfurt's DAX 40.

On the Mib, boost on Leonardo, which brings the price up 2.1 percent to EUR23.43 per share after two sessions closed in the red.

Saipem, meanwhile, advances 2.0%, on its second session in bullish fluctuation with price in the EUR2.39 per share area.

Tenaris - up 1.4 percent - reported the purchase of 3.0 million shares that took place between July 8 and 12. The shares were taken over at an average price of EUR14.2198 for a total value of EUR42.1 million. As a result of these purchases, the company holds 50.4 million or 4.3 percent of the share capital.

Intesa Sanpaolo, on the other hand, sails just above par at EUR3.61 per share. Worth mentioning, Barclays raised its target price to EUR4.20 from EUR4.10 previously.

From the same London bank, Mediobanca also increased its target price to EUR15.80 from the previous EUR15.20 per share. The stock is currently in the money by 0.4 percent at EUR14.34.

Among the many bearers, Prysmian, on the other hand, is giving up 1.2 percent, after the 0.7 percent red on the eve of the day with price correction in the EUR61.88 area.

On the cadet segment, strength on Piovan, which moves ahead 4.1%, on its fourth bullish session.

Danieli & C, on the other hand, advances 3.7%, following up Friday's balance with 1.3%. The stock had previously come from a four-session bearish mini-trend.

ENAV Group -- in the red by 0.4 percent -- on Monday announced that it had signed a contract with Teledife -- that is, the "Telematics and Advanced Technologies Directorate of the Ministry of Defense" -- for the supply, installation and commissioning of a new radar for air traffic surveillance carried out by the Air Force at the Sigonella air base.

Specifically, the two-year contract includes the supply of the new radar and equipment for the room that will house the air traffic controllers including installation and commissioning activities for the new equipment.

Maire Tecnimont - in the red by 0.2 percent - reported Monday that Tecnimont, through its Indian subsidiary Tecnimont Private Limited, in collaboration with NextChem, has been awarded by Sembcorp Green Hydrogen India Pvt Ltd. an engineering study for a green ammonia plant in India.

Marked selling also on Salvatore Ferragamo, which gives up 7.0 percent after a 3.6 percent gain Friday night.

On the Small-Cap, strength on PLC, which brings the price up 4.8%, following Friday night's 1.9% red.

Fidia, on the other hand, is picking up 4.5% to EUR0.6920, following up Friday's modest gain of 0.3%.

Irce, on the other hand, is advancing 4.4% to EUR2.16. There is high trading volume on the stock, at around 31,000 pieces compared to the three-month daily average of around 7,100.

At the rear is Met.Extra, which is leaving 4.0 percent on the parterre by repricing at EUR2.38. It should be noted that the stock, since the beginning of 2024, is marking an asset of more than 28 percent.

Among SMEs, Digitouch is leading the price up 5 percent, after two sessions closed slightly lower.

Casta Diva -- up 2.8 percent -- reported first-half production value up 9.0 percent to EUR57.2 million from EUR52.7 million. Consolidated backlog value as of June 30 stood at EUR34.2 million.

CrowdFundme is giving up 5.4 percent, breaking an eight-session bullish trend.

Elsa Solutions, on the other hand, is retreating 3.5 percent to EUR3.88 per share, subject to profit taking after four sessions with a bullish candle.

In New York at Friday's close, the Dow rallied 0.6 percent to 40,000.90, as did the Nasdaq at 18,398.45 and the S&P 500 at 5,615.35.

In Asia, the Nikkei was closed for Navy Day, the Hang Seng gave up 1.5 percent while the Shanghai Composite picked up 0.1 percent.

Among currencies, the euro changed hands to USD1.0912 from USD1.0906 in Friday's European stock close while the pound was worth USD1.2981 against USD1.2987 on Friday evening.

Among commodities, Brent crude is trading at USD85.10 per barrel from USD85.56 per barrel at Friday's close. Gold, on the other hand, trades at USD2,411.68 an ounce from USD2,410.33 an ounce Friday evening.

Monday's macroeconomic calendar includes, as the event of the day, the speech by the Federal Reserve's number one, Jerome Powell, at 1800 CEST, followed at 2235 CEST by that of another FOMC mebro, Mary Daly.

By Maurizio Carta, Alliance News reporter

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