(Alliance News) - Piazza Affari continues the first session of the week in negative territory as investors return from a long holiday weekend, amidst a mix of macro and geopolitical factors that continue to weigh on market sentiment.
On the external front, focus remains on the evolving tensions in the Middle East, which are creating fresh pressure on global supply chains. This is compounded by the re-emergence of trade risks following statements by President Trump, who announced plans to raise tariffs on European cars and trucks to 25%, while the EU Commission evaluates potential countermeasures.
Regarding the European macro front, final Italian manufacturing PMI data signaled a more robust improvement than expected. The index rose to 52.1 in April, a three-year high, indicating a more solid expansion phase for the industrial sector. The underlying dynamics show strengthening production, accelerating employment, and an increase in purchasing activity to multi-year highs.
However, the cyclical improvement is accompanied by signs of cost pressure. Logistic disruptions linked to the Middle East conflict are pushing delivery times to their highest levels since 2022, while input cost inflation reached a nearly four-year high and output price inflation hit its highest level in three and a half years. The result is a picture of resilient growth but with compressed margins and business expectations below the historical average.
Consequently, the FTSE Mib is fluctuating, down 0.2% at 48,167.16 points.
Among the smaller indices, the Mid-Cap is up 0.4% at 58,154.98, the Small-Cap advances 0.7% to 34,774.46, while Italy Growth is up 0.4% at 8,887.41.
London's FTSE 100 is shedding 0.1%, the Paris CAC 40 is down 0.5%, while the Frankfurt DAX 40 is trading in the green by 0.3%.
On the MIB, Enel is shedding 2.7%. It is worth noting that Morgan Stanley has revised its recommendation on the stock to Underweight.
Italgas, in the red by 1.9%, announced on Monday that, in compliance with the AGCM ruling authorizing the acquisition of 2i Rete Gas, the sale of gas distribution activities in the Atem Campobasso and Frosinone 2 areas to the ATI formed by Plures, Estra, and Centria was finalized on May 1. In total, 30,000 active redelivery points (meters), networks, plants, related personnel, and net assets functional to the management of the service, previously transferred to a newly formed company, were sold for a total consideration of EUR23.5 million, as explained by the company in a note.
STMicroelectronics continues its bullish trend, up 4.4% at EUR48.00 per share, marking its third consecutive session of gains.
Strength is also seen in Nexi, which is posting a 3.9% gain, heading towards its third consecutive bullish session.
Prysmian is up 1.1% at EUR129.30 per share. Notably, Kepler Cheuvreux raised its price target on the stock to EUR133.00 from EUR98.00.
In the mid-cap segment, Ascopiave is retreating 4.2% after a 2.2% gain in the previous session.
Selling pressure on Safilo, which is stepping back after a 0.3% gain the day before.
Strength for BFF Bank, which sees its price rise 2.7% to EUR2.13 per share after three bullish sessions.
Cembre takes the top spot on the list with a 4.2% gain to EUR81.40 per share, marking its third session of gains.
WIIT advances 2.3% to EUR30.60 per share, its third consecutive bullish candle.
On the Small-Cap index, PLC advances 5.8% to EUR3.68 per share, following a 2.5% decline in the previous session.
Trevi Finanziaria Industriale is up 5.8% at EUR0.32 per share, after a 4.7% gain in the previous session.
Esprinet advances 4.9% to EUR5.66 per share, following a 1.0% bearish candle in the previous session.
EPH, down 4.4%, announced over the weekend that it has signed two binding Letters of Intent with an industrial operator for the development of two initiatives in the student housing sector in central Padua. This involves EPH acquiring a 60% stake in the share capital through a capital increase of EUR220,000.
Itway, in the red by 1.8%, announced on Thursday that the board reviewed several indicators for the last fiscal year, which closed with revenues of EUR70 million compared to EUR58.7 million in 2024. EBITDA moved to EUR2.1 million from EUR2.3 million, and net debt was reduced to EUR900,000 from EUR4.5 million as of December 31, 2024.
Among SMEs, Deodato.Gallery continues its rally, advancing 6.1% to EUR0.24 per share, leading the list.
Ecomembrane rises 3.9% to EUR5.35 per share, with the stock seeing its market value grow by over 37% since the start of 2026.
Cyberoo advances 0.9% to EUR1.14 per share, following a 0.9% gain in the previous session.
Kruso Kapital, up 0.6% at EUR1.72, announced the issuance of a EUR12 million bond. The transaction represents the company's first bond issuance. Structured as a private placement aimed at institutional investors, the bond has a three-year duration maturing in 2029.
Next Geosolutions Europe, up 4.1%, announced on Monday the integration of contracts already awarded with Saipem for the Bouri Gas Utilization project in North Africa, with a total value exceeding EUR70 million. As explained by the company in a note, the contract revisions provide for an expansion of operational activities and an increase in fees, in line with the project's evolution.
In New York, during the last session, the Dow shed 0.3%, the Nasdaq advanced 0.9%, while the S&P 500 is up 0.3%.
On the currency front, the euro is trading at USD1.1716 from USD1.1730 on Thursday evening, while the pound trades at USD1.3561 from USD1.3586.
Among commodities, Brent is trading at USD109.48 per barrel from USD109.50 on Thursday evening, while gold is worth USD4,582.30 per ounce from USD4,620.75 on Thursday evening.
Monday afternoon's economic calendar includes US factory orders and durable goods data at 1600 CEST. At 1730 CEST, an auction of three- and six-month Treasury bills is scheduled.
By Maurizio Carta, Alliance News reporter
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