(Alliance News) - On Monday, major European stock markets confirm expectations and open in positive territory, while China leaves benchmark lending rates unchanged and from the U.S. Ron DeSantis drops out of the Republican primaries, letting it be known that he supports former President Donald Trump.

Thus, the FTSE Mib is in the green by 0.2 percent to 30,353.68, the Mid-Cap gains 1.0 percent to 44,407.32, the Small-Cap rises 0.5 percent to 27,288.47, and Italy Growth is up 0.2 percent to 8,249.80.

In Europe, Paris' CAC 40 is in the green by 1.0 percent, London's FTSE 100 gains 0.3 percent, and Frankfurt's DAX 40 is up 0.8 percent.

In macroeconomic news, China's central bank left its benchmark interest rates unchanged on Monday, as expected by the market.

The People's Bank of China kept its benchmark one-year lending rate at 3.45 percent, which had been cut from 3.55 percent in August, in an effort to counter the post-Covid growth slowdown in the world's second-largest economy.

The prime rate on five-year loans, used to price mortgages, was also maintained at 4.2 percent, after being cut by 10 basis points in June.

The loan prime rate is a benchmark lending rate set monthly by 18 banks. In August 2019, the PBoC revamped the pricing mechanism of the loan prime rate, loosely pegging it to the medium-term loan instrument.

On the Mib, the only stock trailing is Eni, in the red by 0.3 percent. The company together with KazMunayGas - KMG signed an agreement related to the innovative 250 MW gas-renewable hybrid power plant project in the city of Zhanaozen, Mangystau region, Kazakhstan.

Among the bullish, second-best stock is Amplifon, in the green by 2.1 percent, after announcing Monday that it has completed the acquisition of the business of a major Miracle-Ear franchisee in the US.

The acquired network, owned by three different companies -- Hearing Pro Inc,, Las Davis Enterprises Inc, and MiracleEar Centers of Arkansas LLC -- includes about 50 outlets located in four states, Arkansas, Kansas, Illinois, and Missouri, with annual sales of about USD20 million and about 85 employees.

Miracle-Ear is the brand through which Amplifon operates in the U.S. retail market, through direct and franchise stores.

Better than Amplifon is Nexi, which rises 2.3 percent to the top of the list.

Telecom Italia - up 1.3 percent - reported Thursday that its board of directors met for an update on ongoing activities and to define the initiatives to be taken in relation to the renewal of the board of directors, which will expire with the approval of the financial statements to Dec. 31, 2023.

In view of this renewal, "in compliance with the recommendations of Borsa Italiana's Corporate Governance Code" and "in light of the outcomes of the Board Review," the board considers it appropriate to reduce the number of its members, from the current 15 to nine.

UniCredit rises 0.9 percent. The company announced Thursday its 2030 interim target for the steel sector, part of the bank's commitment to achieve Net Zero by 2050 of its loan and investment portfolio.

On the cadet segment, Webuild -- in the green by 2.0 percent -- announced on Sunday that it had signed, in a joint venture with Fomento de Construcciones y Contratas Canada Ltd, a contract with a total estimated value between about EUR700 million and EUR1.3 billion for the development and construction of the "Pape Tunnel and Underground Stations" section of the Ontario Line.

The actual final value will be determined based on the executive design, which is included in the contract.

Maire Tecnimont gains 1.3 percent after reporting Wednesday that its subsidiary Tecnimont was awarded a front-end-engineering design contract for a green ammonia plant in Norway.

Gamma Intermediate reported Thursday that it had completed the placement of 16 million common shares of Lottomatica--up 1.4 percent--equivalent to 6.4 percent of the latter's share capital.

Among smallcaps, I Grandi Viaggi rises 2.4 percent after announcing Friday that its board of directors approved the draft financial statements for the year ended October 31, 2023 with a profit for the year of EUR2.8 million from a loss of EUR140,000 in the same period last year.

Consolidated revenues for the period amounted to EUR57.0 million, up from EUR49.0 million in 2022.

Autostrade Meridionali gives up 12 percent after announcing Thursday that the board of directors positively evaluated the company's voluntary liquidation and partial distribution of the extraordinary reserve for about EUR30 million.

The decision, the document says, "was taken following the takeover from April 2022 of the new concessionaire in the management activities of the Naples-Pompei-Salerno freeway section, having substantially settled the items arising from the previous management of the freeway section and in the absence of further business opportunities."

AbitareIn gains 0.6 percent, after announcing Friday that its board of directors approved the appointment of Alessandro Braga as the company's new general manager.

Among SMEs, Salcef Group - in the green by 2.6 percent - on Monday reported that its subsidiaries Salcef Spa, Euro Ferroviaria Srl and Coget Impianti Srl are top-ranked and in some cases have already been awarded contracts, totaling EUR364 million, with domestic and European clients in the electric traction, substations, railway signaling and transmission lines sectors.

First Capital -- not yet affected by the exchanges -- announced Monday that it had approved the group's reorganization project, "which will enable it to improve the operations and structure of its core business," a note said, through the transfer of stakes in listed companies to its subsidiary First SICAF Spa. The latter's shareholders' meeting also approved a EUR50 million capital increase.

In Asia, the Nikkei closed up 1.6 percent at 36,546.95, the Hang Seng gave up 2.3 percent to 14,961.18, and the Shanghai Composite finished 2.7 percent in the red at 2,756.34.

In New York on Friday, the Dow closed in the green 1.1 percent to 37,863.80, the Nasdaq up 1.7 percent to 15,310.97 and the S&P 500 finished up 1.2 percent to 4,839.81.

Among currencies, the euro changed hands at USD1.0898 versus USD1.0882 recorded at Friday's European stock close, while the pound was worth USD1.2696 from USD1.2679 on Friday evening.

Brent crude is worth USD78.00 per barrel versus USD79.15 per barrel at Friday's close. Gold, meanwhile, trades at USD2,026.05 an ounce from USD2,029.60 an ounce on Friday night.

Monday's macroeconomic calendar includes, Overseas, at 1600 CET, the U.S. predictive index data.

On the bond front, in France at 1455 CET the results of an auction of French 3-, 6- and 12-month BTPs are expected.

From the US, at 1730 CET, it's time for the results of 3- and 6-month Treasury bond auctions.

Among companies listed on the Milan Stock Exchange, no particular announcements are expected.

By Claudia Cavaliere, Alliance News reporter

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