(Alliance News) - European markets are moving into negative territory on Monday amid signs that the Eurozone manufacturing sector has weakened due to renewed fragility in demand.
As a result, job cuts intensified, with inventories falling at a faster rate. Although slower, there was an increase in production and business optimism about the future.
On the domestic front, however, the Italian manufacturing sector recorded its strongest improvement in more than two and a half years in November, driven mainly by a recovery in new orders and stronger foreign sales.
The FTSE Mib is down 0.9% to 42,990.36 points, the Mid-Cap is down 0.5% to 58,226.88, the Small-Cap is down 0.7% to 35,588.88, and the Italy Growth is down 0.1% to 8,431.01 points.
Other European markets are also down: the CAC 40 in Paris by 0.4%, the DAX 40 in Frankfurt by 1.0%, and the FTSE 100 in London by 0.1%.
According to press reports, the Milan Public Prosecutor's Office alleges that between 2024 and 2025, Caltagirone and Delfin acted in coordination with MPS on Mediobanca and Generali, going beyond simple financial interest and without making their alleged "concerted action" transparent to the market, which would have required official communications and a takeover bid of more than 25%.
Prosecutors point to anomalies in the sale of 15% of MPS by the Treasury and various wiretaps: some show close relations between Caltagirone and MPS CEO Lovaglio; others indicate that Delfin directors at Mediobanca were essentially aligned with Caltagirone's expectations.
Monte dei Paschi di Siena shares are down 2.7%; Mediobanca shares are down 0.6% and Generali shares are down 0.8%.
Tenaris, fresh from a EUR79.0 million buyback, is among the few gainers of the day, up 0.5%.
The European Investment Bank has approved a new EUR300 million loan to Prysmian - down 3.3% - to support its research and development activities in Europe for the four-year period 2025-2028, accelerating the adoption of new solutions aimed at promoting energy transition and digital transformation. Prysmian and the EIB announced the signing of the first tranche of EUR 200 million.
Leonardo also fell by 2.9%. Campari rose by 0.7%.
In the mid-cap sector, ERG - down 1.0% - reached an agreement through its subsidiary Furukraft to sign a 10-year Power Purchase Agreement with Skellefteå Kraft, a Swedish municipal energy company and one of the leading electricity producers in Sweden.
MAIRE, which approved a EUR127 million buyback, fell 0.7%.
Philogen fell 4.2% to EUR 23.10 per share after Goldman downgraded it to 'neutral' from 'buy'.
Comer Industries was the best performer, up 3.7% to EUR41.90 per share.
Among small caps, KME Group announced that its subsidiary KME has reached an agreement with the group's lenders to renew its existing bank loan for EUR 465.5 million, available in revolving form and maturing on November 30, 2026, plus an option for a further one-year extension subject to the consent of the lenders involved in the transaction. The stock is down 2.9% to EUR0.864 per share.
The board of directors of Borgosesia, flat at EUR0.56 per share, announced on Friday the issue of a new structured bond for a maximum amount of EUR50 million.
The new bond will be collateralized by securities issued by a newco against the transfer of the group's real estate assets in excess of those to be transferred to Euclide.
Eurotech announced a buyback plan for 70,000 shares. The stock is down 0.5%.
Purchases of 4.3% on OPS eCom.
Among SMEs, Talea Group was fined EUR 2.0 million by the Antitrust Authority for unfair commercial practices. The accusation was that it published misleading statements about product availability and delivery times, made partial or late deliveries, and delayed refunds following order withdrawals or cancellations.
At Cloudia Research, Chief Financial Officer Daniele Antonaci resigned effective November 27 for personal reasons. The stock has a potential upside of 4.6%.
Cyberoo, down 1.8%, announced that Keatrix, the evolutionary training platform that uses adaptive artificial intelligence to redesign security awareness, is officially available.
Allcore - flat at EUR1.365 per share - announced on Friday that it is continuing the expansion of Allcore Professional Network (APN), the channel dedicated to tax and labor consultants outside the group.
Launched this year, APN allows firms to access Allcore's specialist services, from tax planning to corporate finance, from management consulting to artificial intelligence solutions.
Best buys on Telesia up 6.8% to EUR2.040 per share.
In New York on Friday, the Dow closed up 0.6%, the Nasdaq rose 0.7%, and the S&P 500 closed up 0.5%.
On the currency front, the euro is trading at USD1.1625 from USD1.1597 at Friday's stock market close, while the pound is trading at USD1.322 from USD1.3248 on Friday evening.
Among commodities, Brent crude traded at USD63.37 per barrel from USD63.00 per barrel at Friday's close, while gold was worth USD4,252.58 per ounce from USD4,240.90 per ounce on Friday evening.
Monday's calendar includes the release of the manufacturing PMI in the US at 1545 CET.
By Michele Cirulli, Alliance News Reporter
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