(Alliance News) - Mid-session banking stocks and worsening sentiment among German companies dragged Piazza Affari into negative territory on Monday, with the Mib below 33,500. The Italian list is the worst among the major European exchanges, which, while remaining in the green, lose the momentum of the opening.

Thus, the FTSE Mib is in the red by 0.3 percent to 33,403.09, the Mid-Cap rises 0.5 percent to 47,041.76, the Small-Cap gains 0.4 percent to 27,085.05, and Italy Growth is in the fractional red at 7,724.70.

In Europe, London's FTSE 100 is in the green by 0.3 percent, Paris' CAC 40 gains 0.3 percent while Frankfurt's DAX 40 is up 0.4 percent.

On the macroeconomic front, sentiment among businesses in Germany worsened in November, the results of a survey by the ifo Economic Institute released Monday show.

The ifo Business Climate index fell to 85.7 points in November from 86.5 points in October, below forecasts of 86. The sub-index for current conditions deteriorated to 84.3 from 85.7 and business expectations fell to 87.2 from 87.3.

For Clemens Fuest, president of the ifo Institute, the German economy lacks strength and companies have become skeptical again about the coming months.

In Spain, producer prices fell 3.9 percent year-on-year in October, following a 5.2 percent drop the previous month and marking the 20th consecutive month of producer deflation.

Returning to Milan, on the highest-capitalization list in Piazza Affari, best performance at the turnaround for STMicroelectonics, up 2.5 percent.

Brunello Cucinelli follows, advancing 1.8 percent, after closing Friday's session up 3.8 percent.

Campari closes the podium, in the green by 1.7 percent.

Iveco Group gains 0.2 percent. Fitch Ratings confirmed Friday its 'BBB-' rating on the stock.

UniCredit gives up 3.5 percent and remains at the bottom at mid-session, after announcing Monday that its board of directors approved the launch of a voluntary public exchange offer for all ordinary shares of Banco BPM -- in the green by 1.5 percent -- for EUR10.1 billion, all in shares.

Execution of the exchange offer is expected to be completed by June 2025, with full integration completed within approximately the next 12 months and most synergies realized within 24 months.

Also hurt were Banca Monte Paschi di Siena, in the red by 1.4 percent, and DiaSorin, which gave up 1.2 percent.

On the Mid-Cap, buying returns for Ariston Holding - up 3.0% - after five bearish sessions.

PharmaNutra - up 1.5 percent - reported Monday that it has closed a new overseas distribution deal. Specifically, the agreement was with Canadian pharmaceutical company Sigma Lifesciences, active in the production and marketing of health care items, and covers the sale of four products in Canada, adding to the more than 80 countries where the company is already present.

Banca Generali -- in the green by 0.3 percent -- will unveil its new three-year plan on Jan. 30, outlining the Trieste-based lion's strategy through 2027, focusing on technological innovation, artificial intelligence, and diversification, Corriere della Sera reported in Monday's edition of its L'Economia supplement.

Results for the first nine months show solid growth, with inflows up 18.1 percent to EUR70.70 billion and net income of EUR2.90 billion.

On the Small-Cap, doValue gains 6.8 percent, after plunging 16 percent on eve. The company announced on Friday that it had completed the acquisition of 100 percent of Gardant, aiming to consolidate its leadership in the Italian and international markets.

Zest -- up 4.8 percent -- let it know that it has updated its forecast for 2024, now expecting revenues to fall to around EUR9 million.

According to the company, this decline is attributable to delays in completing post-merger and corporate reorganization transactions, the impact of the general economic slowdown, and more contingent reasons.

Also doing well were Eurotech and Bioera, up 9.2 percent and 8.3 percent, respectively, and Fidia, soaring 19 percent.

Revo Insurance - flat at EUR11.05 per share - as Corriere della Sera points out in Monday's edition of its L'Economia supplement, hit its business plan targets ahead of schedule, surpassing EUR300.0 million in premiums already by the end of this year, with net income expected to exceed EUR30.0 million.

CEO Alberto Minali confirms the group's strength and anticipates a new strategic plan 2026-2028, which aims to double premium volume by leveraging artificial intelligence to streamline processes and reduce underwriting time.

Among bearish stocks, PLC does worst of all and gives up 4.8 percent.

Among SMEs, Ucapital24 is doing well, in the green by 7.0%.

ErreDue climbs 5.3% at mid-session after announcing Monday that it has finalized a new agreement with Agrobiofert, a Sicilian agricultural company specializing in the use of efficient and sustainable solutions for citrus, cereal, and fruit and vegetable crops typical of the Catania area.

The agreement includes the realization of two electrolyzers worth EUR3.4 million.

Cloudia Research gives up 0.7 percent. The company's board of directors approved the launch of a new buyback program for a maximum of 500,000 shares and for a period not exceeding 28 months from the authorization of the shareholders' meeting.

Comal--up 0.3 percent--reported Monday the signing of a contract with a leading Italian energy company to supply a "Sun Hunter" tracker for a 3.48 MWp photovoltaic plant located in Borgo Montello in the Province of Latina.

In New York, the Dow closed up 1.0 percent, the Nasdaq finished in the green by 0.2 percent, and the S&P 500 rose 0.4 percent.

Among currencies, the euro changed hands at USD1.0490 from USD1.0395 on Friday in closing European equities. The pound is worth USD1.2578 versus USD1.2509 on Friday evening.

Among commodities, Brent crude is worth USD74.22 a barrel from USD74.90 a barrel Friday night. Gold trades at USD2,696.50 an ounce from USD2,704.60 an ounce Friday night.

Monday afternoon's macroeconomic calendar includes French yield auctions at 1500 CET and US T-Note auctions from 1730 CET.

By Antonio Di Giorgio, Alliance News reporter

Comments and questions to redazione@alliancenews.com

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