European markets in the red as dividend payouts weigh on MIB

(Alliance News) - On Monday, the first day of the dividend season, the MIB closed in negative territory. Market attention remains focused on developments in the Middle East conflict following the re-closure of the Strait of Hormuz, a scenario that had previously seemed averted after an initial easing of tensions.

On the macroeconomic front, Eurozone construction output recorded a further decline, according to data published Monday by Eurostat. In February, the construction sector fell by 0.2% month-on-month, while the January figure was revised down to minus 1.3% from the preliminary estimate of minus 0.1%.

Consequently, the MIB closed down 1.4% at 48,207.02 points, the Mid-Cap fell 1.3% to 58,506.40, the Small-Cap ended the session with a fractional loss at 35,547.10, and Italy Growth finished in the green, up fractionally at 8,764.26 points.

Other European bourses also finished lower: the CAC 40 fell 1.1%, the DAX 40 lost 1.0%, and the FTSE 100 shed 0.6%.

Chris Beauchamp of IG noted: "Even the smallest dip seems to represent a buying opportunity. Does it matter if the Strait of Hormuz remains closed, as long as the US and Iran are ready to resume talks? Despite the bearish gap at yesterday evening's opening, equity markets continue to look toward a resolution of the conflict."

"This is despite the surge in oil prices and the rise in the VIX, which demonstrate that market concerns regarding the medium-term outlook show no signs of abating," the analyst concluded.

On Piazza Affari, Stellantis, which saw its shares fall 1.2%, announced that Leapmotor closed March with over 11,000 registrations in the EU. This represents a 31% increase compared to February and a 754% surge compared to March of the previous year.

Eni - up 2.5% at EUR22.305 - and Repsol plan to begin exporting natural gas from Venezuela by the end of 2031. Bloomberg reported on Monday that the companies reached an agreement with Caracas to revive "a long-stalled project to expand production from a massive offshore field."

Furthermore, the company announced a new gas discovery at the Geliga-1 exploration well, drilled in the Ganal block in the Kutei Basin, approximately 70 km off the coast of East Kalimantan, offshore Indonesia.

Terna, which gained 1.0% by the end of the session, announced that Stefano Cappiello has resigned from the company's board, effective May 5. Cappiello is stepping down following his nomination by the Ministry of Economy and Finance to the board of directors of Eni.

Saipem, which saw daily gains of 3.2%, signed the main contract with Eni Industrial Evolution for the construction of the new biorefinery in Priolo, Sicily. The contract, with a total value of approximately EUR700 million upon completion, sets a deadline for the end of 2028 and covers Engineering, Procurement, and Construction activities.

Today marked the final integration of Banca Popolare di Sondrio into BPER Banca - which closed down 0.4% - completing the merger process initiated in 2025.

The group becomes one of the leading national players, with 23,000 employees, 2,000 branches, and over EUR420 billion in assets, strengthening its presence in the country's most productive regions.

Lottomatica ended at the bottom of the basket with a 4.7% decline to EUR26.46 per share.

On the Mid-Cap, Acea - up 1.2% - finalized the acquisition of Aquanexa from Algebris Investments through its subsidiary a.Quantum. The economic value of the transaction in terms of Enterprise Value for 100% of Aquanexa, based on the current perimeter, is approximately EUR205 million.

MAIRE completed the placement of a new EUR185 million sustainability-linked Schuldschein loan, a private placement regulated under German law. The stock traded down 0.6%.

The government has taken a firm stance on Pirelli: the Chinese presence of Sinochem is no longer considered compatible with the current geopolitical and industrial landscape. Through the use of Golden Power, the rights of the 34% shareholder have been drastically reduced, effectively turning the stake into a purely financial holding. The stock was bearish, falling 0.6% to EUR6.15 per share.

Webuild hit the bottom of the list with a 3.6% drop to EUR2.598 per share.

On the Small-Cap, the board of Seri Industrial - which closed up 7.2% - approved the 2025 financial statements over the weekend, showing a consolidated profit of EUR13.6 million compared to EUR24.6 million in 2024.

Adjusted consolidated profit stood at EUR15.4 million, an increase of EUR18.6 million compared to 2024.

The Italian Sea Group recorded a double-digit performance with a 34% surge to EUR2.10 per share.

Francesco Casoli, chairman of Elica - up 0.8% - called for a European steel supply chain to rebalance competition: currently, a large portion of household appliances sold in Italy are imported from outside the EU, without the same burdens that weigh on raw materials.

In an interview, he stated that without intervention, European industry risks a slowdown.

Ratti shed 7.1% to EUR1.17 per share.

Among SMEs, Pattern - with daily gains of 1.5% - announced that the shareholders' meeting, in addition to approving the buyback plan and the financial statements as of December 31, 2025, resolved on the new board composition.

Consequently, the company approved the list of candidates presented by the majority shareholder Bo.Ma Holding, appointing Francesco Martorella as chairman of the board of directors.

Siav, which ended the session up 3.4%, signed a binding agreement to acquire 9.1% of the share capital of Atacod, an innovative start-up owning an AI software solution developed for business process automation.

Friends, down 1.2%, announced it has finalized the acquisition of 100% of PMG Italia, an operator active in accessible mobility and high social impact services.

Casta Diva Group, up 0.3%, through G2 Eventi, an agency specializing in event design and production, won a EUR2.5 million tender for the conception, design, and execution of the opening and closing ceremonies of the XX Mediterranean Games.

In New York, the Dow Jones is down 0.1%, the Nasdaq 0.6%, and the S&P 500 0.4%.

On the currency front, the euro is trading at USD1.1784 from USD1.1807 on Friday evening, while the pound is trading at USD1.3535 from USD1.3559 on Friday evening.

Among commodities, as mentioned, Brent crude rose to USD95.07 per barrel from USD88.90 per barrel on Friday evening, while gold is valued at USD4,804.62 per ounce from USD4,872.35 per ounce on Friday evening.

Tuesday's economic calendar includes UK unemployment data at 0800 CEST, while at 0815 CEST there is a speech by the Bundesbank president, followed by the ZEW German economic sentiment survey at 1100 CEST.

From 1415 CEST, focus shifts to the US with employment data, followed by retail sales at 1430 CEST.

On Piazza Affari, results are expected from Moncler, Saipem, Ubaldi, and Compagnia dei Caraibi.

By Michele Cirulli, Alliance News reporter

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