(Alliance News) - Mid-day Monday, Piazza Affari veers into red territory below 34,700. It also reverses course to the negative in Frankfurt, which, like Milan, was affected by the decline in investor confidence in the Eurozone.
Thus, the FTSE Mib gives up 0.3 percent to 34,647.55, the Mid-Cap is in the red 0.2 percent to 48,008.44, the Small-Cap rises 0.3 percent to 28,385.52, and Italy Growth advances 0.3 percent to 7,791.15.
In Europe, London's FTSE 100 is in the green by 0.2 percent, Paris' CAC 40 gains 0.3 percent, and Frankfurt's DAX 40 retreats 0.3 percent.
On the macroeconomic front, the Sentix Investor Confidence Index for the euro zone fell to minus 17.5 in December from negative 12.8 in November, indicating a decline in investor sentiment, data released Monday showed.
The "Current Situation" index -- which reflects current economic conditions -- fell to its lowest level in more than two years, reaching minus 28.5 in December, down from minus 21.5 in November.
Returning to Milan, on the highest-capitalization list in Piazza Affari, Moncler continues to achieve the best mid-day performance, up 3.1 percent, after closing Friday's session in the green by 5.0 percent. This is the fourth consecutive bullish session. Goldman upgraded the stock to 'buy' with a target price of EUR58.70.
Well Brunello Cucinelli, in the green by 2.7 percent to EUR99.20, touching EUR100.00 per share during the session.
Tenaris closes the podium at the turnaround, in the green by 2.4%, after giving up 3.0% in the last session.
Buying continues for Banco BPM -- in the green by 1.7 percent -- after Crédit Agricole SA increased its stake from 9.9 percent to 15.1 percent and intends to apply for permission to rise to 19.9 percent.
According to Monday's Corriere della Sera in its L'Economia supplement, the move by CEO Philippe Brassac is strategic and aims to protect French investment. The change complicates the plans of UniCredit -- in the red by 0.9 percent -- and its CEO Andrea Orcel, who is about to file a public exchange offer with Consob to acquire Banco BPM.
Inwit remains in the green by 0.3%. The company's CEO, Diego Galli, expects to exceed EUR1.00 billion in revenues by the end of the year, a significant jump from EUR750.0 million four years ago, according to Corriere della Sera in its L'Economia supplement on Monday.
Eni -- in the green by 0.9 percent -- is facing a clash with the EU over the biofuels market that in Italy. The dispute concerns tax breaks granted to HVO - Hydrotreated Vegetable Oil - biofuel, produced solely by Eni in Italy, which Assitol says would create a distortion of competition.
This morning an explosion occurred at Eni's refinery in Calenzano, in the province of Florence, generating a column of smoke visible even from neighboring towns.
Among the bearish performers we find Recordati and Iveco Group at the start, with declines between 1.6 percent and 2.3 percent.
Profit taking for Campari, which gives up 1.6 percent to EUR6.17 per share, after five bullish sessions.
At the bottom of the main list at mid-day, Leonardo gives up 2.7% to EUR25.71 per share.
On the Mid-Cap, Digital Value advances 3.5% with price at EUR25.20 per share, in its fifth session in the green. Of note, PDT Partners raised its short position on the stock to 0.71% from 0.49% previously.
Well The Italian Sea Group rising 2.0% in mid-session, in its second bullish session.
Salvatore Ferragamo advances 2.8%. Of note, Goldman Sachs cut its target price on the stock to EUR6.50 from the previous EUR7.10.
Banca Generali - in the green by 0.4 percent - expands its reach with the acquisition of Intermonte Partners SIM - no SME trade - investment banking boutique, which will become an integral part of the group, as reported Monday by Il Sole 24 Ore in its Economy supplement.
The deal, with 69 percent of acceptances already collected and awaiting approval from Consob and Bank of Italy by mid-December, aims to strengthen the offering in the Global Markets and Capital Markets sectors.
Among the mid-day bearishers are OVS and Buzzi, which retreat 1.2% and 2.0%, respectively.
On the Small-Cap, CY4Gate leaps to the top, in the green by 9.1%, consolidating the bullish performance of the past thirty days.
doValue rises 5.2% to EUR1.65 per share. The stock is down 2.5% in the last month and 58% in the last six months.
Fidia - in the green by 4.8% - is doing well after leaving 20% on the parterre in the last session.
Among the bearish Aquafil gives up 2.5%, after giving up 4.3% in Friday's session. Quartys initiated a short position on the stock at 0.51%.
Apples Gabetti and Netweek giving up 3.1 percent and 3.5 percent, respectively.
Among SMEs, Friulchem records a flight of 19%, with the stock achieving its best price in three months at EUR0.87 per share at mid-day.
SolidWorld Group is doing well, up 8.5% to EUR2.08 per share, in its third positive session. The stock has gained about 32% in the past 30 days.
Among the bullish Portobello rises 12% to EUR2.71 per share, while Ala rises 7.1% to EUR24.00 per share.
Vivenda Group brings its second week of trading into green territory, achieving a 6.9 percent rise to EUR0.966, thus surpassing the Dec. 2 placement price.
Almawave - in the red by 1.7 percent - reported that BNP Paribas and SACE will provide a EUR20 million loan, issued by BNP Paribas itself and backed by SACE's Archimede Guarantee on 70 percent of the total value financed.
The deal aims to support the growth plan related to strategic investments in generative artificial intelligence made by the Almawave Group.
In New York, the Dow closed in the red by 0.3 percent, the Nasdaq closed in the green by 0.8 percent, and the S&P 500 gained 0.3 percent.
Among currencies, the euro changed hands at USD1.584 from USD1.0571 on Friday in closing European equities. The pound is worth USD1.2776 versus USD1.2754 on Friday evening.
Among commodities, Brent crude is worth USD71.78 a barrel from USD72.20 at Friday night's close. Gold trades at USD2,677.81 an ounce from USD2,661.49 an ounce Friday night.
By Antonio Di Giorgio, Alliance News reporter
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