(Alliance News) - Major European stock markets continued to move higher in mid-day Monday, except for London, which remains bearish, after the release of PMI indices on construction describing a still weak sector in February in Italy and the eurozone.

The eurozone construction PMI rose to 47.6 in February from 46.1 in January, while in Italy it rose to 48.9 in February from 48.2 in January. In both cases, it remained below the 50.0 level that separates expansion from contraction from activity in the sector in question.

Thus, the FTSE Mib, rises 0.3 percent to 27,912.23 as does the Mid-Cap to 45,115.49, the Small-Cap advances poso above par at 30,564.66, while Italy Growth is in the green by 1.0 percent to 9,528.44.

In Europe, London's FTSE 100 is in the red by 0.4 percent, Paris' CAC 40 is advancing by 0.4 percent, while Frankfurt's DAX 40 is bullish by 0.3 percent.

Meanwhile, Eurozone retail sales returned to growth on a monthly basis in January but fell again on an annual basis, Eurostat reported Monday.

Eurozone retail sales rose 0.3 percent on a monthly basis in January after falling 1.7 percent in December. On a year-over-year basis, January's 2.3 percent decline followed a 2.8 percent drop in the previous month.

From the Sentix Institute, however, there is no good news: "In the Eurozone, the economic situation has improved again, for the fifth consecutive time. However, economic expectations show that we are by no means at the beginning of a recovery," commented Manfred Hübner, managing director of the sentix institute, which released the data on Monday.

Eurozone economic expectations fell sharply to minus 13 points. The situation is similar in the other regions of the World, and expectation values are characterized by sharp declines across the board.

On the main list, FinecoBank falls 0.6 percent. On Monday it reported that it recorded net inflows in February of EUR870 million, of which EUR185 million related to assets under management.

Thus, in the first two months of the year, inflows are EUR1.6 billion, with the asset management component rising to EUR886 million.

Telecom Italia remains on top, with 2.4 percent, boosted by the announcement on Sunday that Cassa Depositi e Prestiti and Macquarie have also submitted their bid for TIM's network. According to rumors in the Italian press, CDP and Macquarie's bid is expected to be equal in size to KKR's EUR20 billion bid, but is expected to offer more cash--between EUR1.5 billion and EUR2 billion--than that of the U.S. fund.

Also doing well is Nexi, which picks up 1.7 percent after reporting Friday that it bought 245,000 of its own ordinary shares between Feb. 22 and March 2 at an average price per share of EUR7.5613, for a total consideration of EUR1.9 million.

Leonardo gains ground and rises 1.3 percent. It announced Friday that it has received orders for six AW139 twin-engine helicopters in Australia.

Cassa Depositi e Prestiti announced Monday that it has allocated EUR120 million to Prysmian Group - up 0.7 percent - to support research and development plans, focused on implementing innovative technologies, to help consolidate processes to digitize the business while decreasing emissions to facilitate the energy transition.

Stifel this morning raised Prysmian's targer price to EUR45.70 from EUR40.50 with a 'buy' recommendation.

Infrastrutture Wireless Italiane remains in the lower quarters and gives up 1.0 percent. On Thursday it reviewed and approved its financial statements as of December 31, 2022, reporting a net profit of EUR293.3 million, up 53 percent from EUR191.4 million in the same period last year.

On the cadet list, Anima Holding -- in the red by 0.8 percent -- reported on Monday that net inflows of assets under management in February 2023 were positive EUR383 million, with a negative asset management component of EUR90 million and one related to class I insurance proxies positive EUR373 million.

At the end of February, the group's total assets under management thus stood at more than EUR180 billion.

Fincantieri, after a 1.6 percent opening red now is 0.1 percent in the black. On Friday it announced that through its subsidiary Vard it signed a contract worth about EUR250 million with a new customer, Edda Wind, for the construction of four Commissioning service operation vessels - CSOVs.

Piaggio is still on top, and from 2.5 percent this morning, now advances with 2.8 percent.

On the Small-Cap, SS Lazio - up 2.9% - chose NVP, which on Italy Growth does not yet trade, for a strategic agreement until the end of 2028.

NVP will be the exclusive partner for the management of the soccer club's new media company, the digital entertainment services "Lazio Style Radio" and "Lazio Style Channel" broadcast on SKY channel 233 in SVOD mode, as well as the management of web and social channels and the creation of the new OTT platform.

Greenthesis, after opening down 1.1 percent, now advances with 1.5 percent. On Thursday it signed a memorandum of understanding with Sharaf Investment LLC, the latter belonging to the Sharaf Group, one of the largest and most diversified conglomerates operating in the United Arab Emirates.

The agreement deals with understandings between the parties for Greenthesis to acquire a 20 percent stake in the Emirati-registered Green Future Battery Recycle LLC.

BasicNet--flat at EUR5.64 per share--reported that relevant partner Helikon Investments Ltd has entered into several transactions on the company's shares.

In addition to a cash settled equity swap that involved the purchase of 46,155 shares at EUR5.55 each, Helikon also took over - in three separate transactions - 3,439 ordinary shares in BasicNet, at an average price of EUR5.46 per share, for a total consideration of EUR18,776.94.

Among SMEs, Innovatec reverses course after opening negative 1.5 percent and now gathers 0.2 percent. On Friday it reviewed preliminary operating and financial results for fiscal year 2022, reporting revenues as of December 31 of EUR288.7 million from EUR237.8 million in the same period last year, up 21 percent.

Finlogic - flat at EUR11.80 per share - reported Friday that conditions related to the takeover bid that Credem Private Equity SGR will launch to take over the entire capital of Finlogic have come true.

The other conditions precedent related to the launch of the takeover bid have also been fulfilled and, therefore, it will be possible to proceed with the transaction, which involves the purchase - by Credem - of Finlogic shares at EUR12.00 each.

Finanza.tech, on par at EUR0.82 per share, announced Monday that it has entered into agreements with two leading large corporations on the national scene aimed at their purchase of tax credits from the 110% Superbonus for a total amount of EUR425 million for the years 2023-2026.

Racing Force rises 3.5 percent. Friday announced the launch, in partnership with the Bahrain International Circuit, of the expansion project for the headquarters of its subsidiary Racing Force International in Sakhir, Bahrain, functional to meet the growing demand for Bell Racing helmets in the global motorsport market.

TMP Group -- up 0.6 percent -- reported Friday that Banca Profilo -- in the green by 0.7 percent on the Small-Cap -- exercised its greenshoe option for 21,200 new shares in the company, thus ending the stabilization period.

The purchase price of the shares covered by the greenshoe option is EUR10 per share, which is equal to the price set as part of the offer, for a total value of EUR388,000.

In New York on Friday, the Dow closed in the green 1.2 percent to 22,390.97, the Nasdaq gained 2.0 percent to 11,689.01 while the S&P 500 finished in the green 1.6 percent to 4,045.64.

Among currencies, the euro changed hands at USD1.0631 versus USD1.0599 at Friday's close. In contrast, the pound is worth USD1.2008 from USD1.1974 on Friday evening.

Among commodities, Brent crude is worth USD84.61 per barrel versus USD85.14 per barrel Friday night. Gold, on the other hand, trades at USD1,851.24 an ounce from USD1,850.90 an ounce at Friday's close.

On Monday's calendar, data on durable goods excluding defense and transportation equipment will be released at 1600 CET in the US.

By Chiara Bruschi, Alliance News reporter

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