(Alliance News) - On Monday, major European stock indices opened in negative territory, defying futures indications, as attention focuses on the White House and potential peace agreements in Gaza and Ukraine.

Thus, the FTSE Mib is down 0.3% at 44,476.03, the Mid-Cap is fractionally up at 58,570.89, the Small-Cap is up 0.4% at 36,540.03, while the Italy Growth index rises 0.1% to 8,528.77.

London's FTSE 100 is down 0.1%, as is Paris's CAC 40, while Frankfurt's DAX 40 slips 0.2%.

On the macroeconomic front, the Japanese government has approved a record budget for the next fiscal year, set to cover all expenses from increased defense spending to higher social security costs due to persistent inflation.

The JPY122,300 billion budget, equivalent to about USD782 billion, for the fiscal year starting in April 2026 will include around JPY9,000 billion for defense spending, as Prime Minister Sanae Takaichi aims to accelerate the radical strengthening of Tokyo's military in light of worsening relations with China.

On the main board in Milan, Prysmian rises 0.2%. The company and Fincantieri – down 3.4% – announced Monday they have signed a deal to acquire Xtera Topco Limited, a UK- and US-based leader in submarine telecommunications systems.

As the company explained in a statement, the acquisition of Xtera, from an affiliate of HIG Capital, a global alternative investment firm with USD72 billion in assets under management, will be carried out through a joint venture between Prysmian, holding an 80% stake, and Fincantieri, with a 20% stake.

At the bottom of the list is Leonardo, down 4.4%. Also in the red are Telecom Italia and Lottomatica Group, down 1.0% and 0.9%, respectively.

DiaSorin takes the lead with a 1.5% gain after announcing it has received 510(k) authorization and CLIA-waiver from the US Food and Drug Administration for its first test, the FLU A/B, RSV & COVID-19 panel, to be used on the LIAISON NES platform.

Banca Popolare di Sondrio is also up – rising 0.4% – after announcing it has signed a deal with Nexi – second-best performer, up 1.3% at the open – for the sale of its merchant acquiring business unit.

According to the press release, the deal also includes the sale to Nexi of the minority stake currently held by BPSO in Nexi Payments.

Rounding out the podium is Amplifon, up 1.0%.

On the mid-cap segment, MAIRE – up 0.1% – announced that NextChem has signed a binding agreement to acquire the entire share capital of the Ballestra group, a leading global player in licensing, design and engineering of processing plants, as well as the supply of proprietary technologies and equipment for the chemical industry.

As stated in the company's release, based on Ballestra's consolidated net cash position as of December 31, 2024 – adjusted according to the contract terms and amounting to EUR18.2 million – the purchase price is approximately EUR126.5 million.

ENAV drops 0.4%. On Tuesday, the company announced the signing of a binding termsheet to acquire a majority stake in AIView Group, an Italian company specializing in drone services and unmanned systems.

The total value of the deal is estimated at EUR10.5 million for 100% of AIView Group, corresponding to an EV/Ebitda multiple of about 7x compared to the preliminary 2025 Ebitda estimate. The final consideration for the acquired stake will be determined based on this value, adjusted for AIView Group's net financial position at closing.

Among the decliners are Moltiply Group and Webuild, both down 1.7%, while Sesa tops the list, up 3.2%.

Among small caps, OPS eCom is flat at EUR0.12 per share. The company announced Tuesday that in the first half of 2025, the group posted a net loss of EUR1.231 million, slightly widening from the EUR1.156 million loss in the first half of 2024.

KME Group rises 3.9%. The company announced Tuesday it has reached an agreement with Paragon Partners to buy back a controlling stake in Cunova, a company in which KME currently holds a 45% interest.

The deal also includes the transfer from KME to Cunova of certain special or core-related activities, as well as the refinancing of the current senior secured debt of EUR170 million. The scope of the agreement generates revenues of about EUR360 million and a pro forma Ebitda of about EUR63 million.

TXT e-solutions drops 0.4%. The company announced Tuesday it has signed an Asset Purchase Agreement to acquire the SmartRoutes division of Nexteon Technologies Inc, thus strengthening its presence in the US through its subsidiary PACE America.

The deal, whose closing is subject to certain conditions outlined in the agreement, is expected in the first quarter of 2026.

Among SMEs, Health Italia is flat at EUR296.00 per share. The company announced it has appointed a new board of directors, composed of seven members, with Stefano Pellegrino chosen as chairman.

The other board members are: Giovanni Giuliani, Mario Fera, Roberto Ippolito, Giorgio Ortolani, Matteo Almini, and Daniele Sotgiu.

Energy Time drops 0.9%. The company announced Tuesday it has entered into a partnership with Voltuna for the construction of turnkey photovoltaic plants, launching the first orders for a total capacity of 2.5 MWp and a value of EUR1.7 million.

Ecomembrane – not yet traded – announced Tuesday that its subsidiary SBS Solar has sold to Lograto Solare all rights, permits, authorizations, and contractual relationships necessary for the construction and operation of a photovoltaic plant with a capacity between 5 and 10 MWp, located in the province of Brescia, for approximately EUR700,000 plus VAT.

At the same time, the parties signed a commitment to enter, by June 30, 2026, into a contract for the construction of the plant, for a total value of about EUR3.6 million.

Circle rises 2.0% after announcing Monday it has signed a new contract with a leading Mediterranean intermodal logistics operator, for a total value of about EUR260,000, relating to the supply of Milos ecosystem solutions.

In New York, on Friday, December 26, the Dow closed fractionally lower at 48,710.97, while the Nasdaq fell 0.1% to 23,593.10, and the S&P 500 ended just below parity at 6,929.94.

Among Asian markets, the Hang Seng lost 0.7% to 25,635.23, the Shanghai Composite closed fractionally higher at 3,965.28, while the Nikkei slipped 0.4% to 50,526.92.

On the currency front, the euro changes hands at USD1.1778 from USD1.1772 in the previous session, while the pound trades at USD1.3489 from USD1.3500.

Among commodities, Brent trades at USD60.82 per barrel from USD60.24 in the previous session, while gold is worth USD4,492.85 an ounce from USD4,552.70.

On Monday's economic calendar, after the Christmas break, the US crude oil inventory report and the Cushing inventory report are due at 1630 CET.

No significant corporate announcements are expected.

By Claudia Cavaliere, Alliance News reporter

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