(Alliance News) - On Monday, European stock markets prtosued anadmaneto with a bearish trend, with bond yields rising and expectations of a Fed rate cut dwindling, causing trading rooms to lean on the 'sell' side.

Of note in the currency market is the strength of the greenback, pushing the euro and sterling down. Precisely on the pound, which currently trades at USD1.2129, traders are increasingly positioning themselves for further declines, with options data showing strong demand for contracts below USD1.20 and even as low as USD1.12, as reported on Bloomberg based on data from the Depository Trust & Clearing Corporation.

In Milan, 16 percent of stocks are up, down 34 percent, unchanged 5 percent, while still 45 percent of stocks are not traded. The value of trading is just under EUR263 million.

The FTSE Mib, thus, moves 1.0 percent in the red to 34,755.49.

In Europe, London's FTSE 100 is giving up 0.3 percent, while Paris' CAC 40 is giving up 0.7 percent and Frankfurt's DAX 40 0.6 percent.

Among the smaller listings, the Mid-Cap is sailing in the red 1.1 percent to 46,712.14, the Small-Cap is down 0.8 percent to 28,111.43, and Italy Growth is giving up 0.3 percent to 7,959.75.

On the Mib, good session for Snam, which moves ahead 0.6% to EUR4.32 per share after two bearish sessions, driven by rising gas prices. European natural gas futures -- measured on the Dutch TTF -- rose above EUR47.10 per megawatt-hour on Monday, driven by rising demand and growing supply concerns.

For the first time since Russia's invasion of Ukraine in 2022, Europe is at risk of falling short of its gas storage targets for the coming winter, potentially triggering a global supply race until new liquefied natural gas (LNG) capacity becomes available in 2026.

In contrast, Eni -- benefiting from the rising barrel price -- is advancing 0.9 percent, continuing uninterruptedly the bullish trend that began on December 27 with price in the EUR13.86 per share area.

STMicroelectronics, on the other hand, is giving up 3.9 percent to EUR23.32 per share, in its tenth consecutive session in negative balance.

Tenaris is advancing equally buoyed by gas and oil prices, up 0.3%, with the company continuing with its buyback plan. It last reported that it bought back its own ordinary shares between January 6 and 10 for a total value of EUR13.8 million.

Ferrari, on the other hand, is giving up 3.5 percent, with the Cavallino stock in its fifth session with a bearish candle.

On the MidCap, Sesa moves ahead 2.1% to EUR59.30, rearing its head after two bearish sessions.

d'Amico pushes ahead 2.2% to EUR4.47 per share, in position to ring in its third bullish session.

Iren -- in the green by 0.4 percent -- announced Friday that it had finalized its acquisition of control of Egea Holding Spa, raising its stake to 52.8 percent of the share capital. The transaction, announced in November, was completed after Antitrust and Golden Power clearances were obtained.

Anima Holding -- in the green by 0.2 percent -- reported Friday that December net inflows amounted to EUR111 million, bringing the 2024 total to EUR775 million. Open-end funds posted a positive EUR310 million for the month and a negative EUR445 million for the year. Ex-Ramo I individual asset management saw a negative December of EUR199 million and a positive year of EUR1.22 billion.

List bottom for Newlat Food, which contracted 3.1 percent after two bullish sessions.

Technoprobe, meanwhile, is giving up 1.7 percent, with price in the EUR5.88 per share area, in its seventh bearish session.

De Longhi, on the other hand, is marking minus 1.9% at EUR28.42 per share, in its fifth bearish session.

On the SmallCap, Itway advances 4.3%, rearing its head after two bearish sessions.

Bialetti, on the other hand, advances 2.2%, after two downbeat sessions.

Gas Plus, on the other hand, marks 5.0% up at EUR3.39 per share, also ewsso benefiting from the boost in gas prices. The stock on the MarketScreener platform - rated by a single analyst - shows a target price of EUR5.60, showing itself underpriced by about 73 percent.

Piquadro -- still flat at EUR2.02 per share -- reported Monday that it closed the first nine months with revenues up 2.4 percent year-on-year, to EUR134.6 million from EUR131.5 million in the same period a year earlier.

Industrie de Nora, on the other hand, is giving up 1.9 percent to EUR7.13 per share. On the stock it is reported that Jefferies cut its target price to EUR8.00 from EUR9.00 previously.

Somec, on the other hand, gives up 3.9 percent to EUR11.25 per share, raising its oars after eight sessions of gains.

Among SMEs, AATECH is giving up 4.8 percent to EUR0.69 per share, on its third bearish daily candle.

Frendy Energy, on the other hand, is giving up 7.9 percent to EUR0.25 per share, subject to profit taking after after four bullish sessions in which it rose more than 51 percent.

On the upswing is Eprcommunication, which scores a plus 6.4% after four bearish sessions.

Cloudia Research, meanwhile, is picking up 1.2 percent, on its third bullish session with nuvo price at EUR1.15 per share.

Nusco -- flat at EUR0.94 -- announced Monday that Nusco Imobiliara SA, a company active in the development and management of real estate projects in Romania, has invested EUR42 million to build its first Hyatt-branded hotel facility. As the company explained in a note, the project is part of the larger urban redevelopment operation put in place by the Nusco group in Romania.

In New York on Friday evening, the Dow closed down 0.6 percent, the Nasdaq gave up 1.6 percent, and the S&P 500 left 1.5 percent on the parterre.

Among currencies, the dollar's strength is still evident, with the euro changing hands at USD1.0200 -- the lowest since October 2022 -- versus USD1.0228 at Friday's European equities close. In contrast, the pound is worth USD1.2124 from USD1.2195 on Friday evening.

Among commodities, boost on oil with Brent crude worth USD80.90 per barrel from USD75.70 per barrel in Friday's European equities close. Gold trades at USD2,679.82 an ounce from USD2,720.61 an ounce Friday evening.

Monday's macroeconomic calendar includes, at 1700 CET from the US, the release of consumer inflation expectations.

The day closes at 2000 CET, also from the U.S., with the federal budget balance.

By Maurizio Carta, Alliance News reporter

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