Europeans still negative; Stellantis remains at the tail end

(Alliance News) - Monday, major European indexes remain in negative territory at mid-day, with Eurozone PMIs showing signs of contraction in the manufacturing sector and inflation rising to 2.5 percent year-on-year from 2.4 percent in December.

Thus, the FTSE Mib is in the red 1.3 percent to 36,016.40, the Mid-Cap gives up 1.3 percent to 49,164.87, the Small-Cap drops 1.3 percent to 28,369.35 while Italy Growth retreats 0.5 percent to 7,782.05.

London's FTSE 100 is in the red by 1.3 percent, Paris' CAC 40 gives up 1.8 percent as does Frankfurt's DAX 40.

On the macroeconomic front, Italy's manufacturing sector remains in contraction in early 2025 amid continued signs of weak demand, according to data released Monday by S&P Global.

In fact, January's manufacturing PMI came in at 46.3 points, up slightly from 46.2 in December but below FXStreet's expectations, which estimated the index at 46.4.

Over the same period, preliminary estimates released by Istat on Monday, Italian inflation accelerated, with the national consumer price index rising 0.6 percent month-on-month from a 0.1 percent increase in December and rising 1.5 percent year-on-year from a 1.3 percent increase in the previous month.

On Piazza Affari's largest-capitalization list at mid-day, only six stocks are in the green, with Assicurazioni Generali remaining at the top, ahead 0.9 percent.

UniCredit -- in the red by 1.2 percent -- confirmed Sunday that it holds a stake of about 4.1 percent in the share capital of the Lion of Trieste, "acquired over time on the market."

The stake "is a pure financial investment," the statement said, which significantly exceeds its performance metrics and has a negligible impact on CET1.

Telecom Italia is in the green at the 0.4 percent mark, with more than 83 million shares traded.

Banca Monte Paschi Siena--up 0.4 percent--reported that rating agency Moody's Ratings upgraded the long-term outlook on its deposit and senior unsecured debt ratings to "positive," from stable, and confirmed all of the bank's ratings.

More selling for STMicroelectonics, down 4.8 percent, after eve's gains.

Red also for Pirelli, down 5.4 percent, wiping out gains of the past 30 days.

At the bottom of the main list is Stellantis, down 7.2 percent, with more than 14 million shares changed hands. The automaker on Monday announced the simplification of its organization in order to make decisions and their execution faster, improving the balance between regional and global responsibilities.

On the Mid-Cap, it leads the rises Newlat Food, up 4.4 percent, which resumed trading after the opening suspension.

Bank of Italy on Friday notified Banco di Desio e della Brianza -- up 2.3 percent -- that it has confirmed capital requirements for the group for 2024.

The primary tier 1 capital ratio remains at 7.60 percent, with a binding measure of 5.10 percent, including 4.5 percent for minimum regulatory requirements and 0.60 percent for SREP requirements, with the remainder accounted for by the capital conservation buffer.

MAIRE--green by 0.2 percent--announced Friday NextChem, through its subsidiary Stamicarbon, has been contracted to provide the process design package for the upgrade of the urea plant of Hulunbeier New Gold Chemical Co. Ltd, located in Hulunbuir, China.

Juventus Football Club - down 2.8 percent - reported that it has reached an agreement with Girona FC to sell, on a temporary basis until June 30, the rights to the sports performance of footballer Arthur Henrique Ramos De Oliveira Melo for a consideration of EUR700,000.

At the bottom of the cadet list is Brembo, which gives up 4.5 percent, in its second bearish session.

On the Small-Cap, Softlab remains at the top, up 5.8 percent, bringing its performance over the past month into the green. The stock has given up 49% in the last year of trading.

Netweek's stock is suspended after reaching a theoretical rise of 19%.

On the other side of the list, Biesse gives up 4.8%, and PLC is down 5.4%, achieving the worst performance among small-caps.

BF - down 0.2 percent - announced Friday that as of Feb. 1, Domenico Pimpinella will take office as the company's general manager.

doValue - in the red by 4.1 percent - disclosed Monday that its subsidiary doValue Greece Loan and Credit Claim Management Company SA has entered into a bilateral agreement with a number of investment funds managed by Bracebridge Capital, LLC, to secure servicing mandates amounting to EUR2.3 billion of GBV including the latest tranche of Alphabet and some other smaller mandates.

Among SMEs, iVision Tech rises 11 percent, in its third bullish session.

Convergence--up 3.1--reported Friday that it ended 2024 with revenues of EUR26.3 million, up 13 percent from EUR23.4 million in 2023.

The TLC business unit posted a 1.5 percent increase in revenues to EUR11.4 million while the Energy division saw revenues rise 23 percent to EUR14.9 million.

Green Oleo - in the green by 1.8 percent - announced Monday the inclusion of 26 esters from renewable sources in the Lubricant Substance Classification List of Ecolabel UE, the European Union's eco-label.

The company also announced that it has started the process for the inclusion of an additional 18 esters.

Bene Monnalisa, which remains in the green mid-session and advances 1.5 percent, in its second bullish session. The company let it know Friday that it has strengthened the path of collaboration with the Aeffe group - in the red by 0.8 percent on the small-cap - undertaken in early 2024.

Espe - in the red by 2.6 percent - announced Monday that it had signed new contracts for the construction of two advanced agri-voltaic plants worth a total of EUR4.7 million.

Execus - flat at EUR1.30 - announced Friday a paid capital increase totaling EUR2.3 million, including share premium, functional to the acquisition of ZCA Digital Srl.

The capital increase, divisible and effective progressively, will take place in two tranches and will be reserved for ZCA Digital shareholders.

At the bottom of the alternative list, double-digit declines for TrenDevice, which leaves 14 percent on the parterre.

In New York on Friday night, the Dow lost 0.8 percent to 44,544.66, the Nasdaq closed in the red 0.3 percent to 17,627.44 while the S&P 500 closed down 0.5 percent to 6,040.53.

In Asia, the Nikkei closed down 2.6 percent to 38,520.09, the Shanghai Composite finished fractionally in the red at 3,250.60 and the Hang Seng closed fractionally in the red at 20,217.26.

Among currencies, the euro changed hands at USD1.0238 against USD1.0401 in Friday's European equities close. In contrast, the pound is worth USD1.2313 from USD1.2439 on Friday evening.

Among commodities, Brent crude is worth USD76.46 per barrel from USD76.01 per barrel at Friday's European stock close. Gold trades at USD2,832.19 an ounce from USD2,807.85 an ounce Friday evening.

Monday's economic calendar continues in the afternoon from the US at 1545 CET with the manufacturing PMI data, while at 1830 CET Bostic of the FOMC will give a speech.

By Antonio Di Giorgio, Alliance News reporter

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