(Alliance News) - The Mib index floated down around the 27,400 mark Monday, with caution prevailing in trading rooms over the U.S. debt ceiling talks.
President Joe Biden and Republican House Speaker Kevin McCarthy will meet again today to try to unblock the situation and prevent a catastrophic default, after negotiations stalled last week.
Eurozone construction output fell on both a monthly and annual basis in March, Eurostat reported Monday. Eurozone construction output fell 2.4 percent on a monthly basis in March after rising 1.7 percent in February. On an annual basis, however, eurozone construction output deteriorated 1.5 percent in March after a 2.1 percent increase in the previous month.
On the domestic front, it is reported that Moody's rating agency on Friday evening maintained Italy's rating and outlook at Baa1, with a negative outlook, as widely expected.
Thus, the FTSE Mib marks a decline of 0.6 percent to 27,434.58.
In Europe, London's FTSE 100 is up 0.3 percent, the CAC 40 is giving up 0.2 percent as is Frankfurt's DAX 40.
Among the smaller Milanese lists, the Mid-Cap is giving up 0.8 percent to 43,096.54, the Small-Cap is in the green 0.1 percent to 27,030.21, and Italy Growth is in the green 0.4 percent to 9,168.86.
On the Mib, at the top is Banca Monte dei Paschi, which is picking up 3.9% with price at EUR2.2240 bringing the weekly to plus 4.3%.
Also climbing well is BPER Banca, which is posting a plus 3.0%. On the stock it is mentioned that Deutsche Bank raised its target price to EUR3.60 from EUR3.00.
FinecoBank, on the other hand, rises 2.8%. Deutsche Bank set the new target price at EUR16.10 from the previous EUR17.10.
Buying also prevails on Banco BPM, which is up 2.6 percent to EUR3.99. Last week JPMorgan raised the target price to EUR4.90 from EUR4.40 with a 'neutral' recommendation.
Among the few bearish performers, Prysmian is leaving 1.2% on the parterre, closing the list with price at EUR34.99.
On the cadet segment, Saras advances 2.0% to EUR1.0970 after last session's fractional red.
Datalogic, on the other hand, steps up 4.1% after two sessions ended in the green and taking the top spot in the segment at the moment.
Good buys also on Banca Ifis, which picks up 3.2 percent. The stock since the beginning of 2023 marks an asset of almost 10 percent. The bank announced Monday that it has signed a long-term partnership with Mediobanca to manage impaired loans.
According to the agreement, Banca Ifis will take over from Mediobanca, for a consideration of EUR100 million, Revalea Spa, a company created in 2022 from the spin-off of NPLs resulting from the acquisition of non-performing loan portfolios, a business that is no longer among Mediobanca Group's core activities.
De Longhi steps back 1.1 percent to EUR20.12, heading for its sixth session to end on the bearish side.
Safilo is also bad, contracting 1.1 percent after a 0.8 percent loss on the eve. The stock-which has not detached its dividend since 2008-is almost unchanged on a weekly basis.
On the Small-Cap, Giglio Group is climbing more than 22%, with new price at EUR0.7540.
Restart, on the other hand, rises 4.5 percent to EUR0.2570 after falling 2.0 in the previous session.
TXT e-solutions, meanwhile, continues its buyback program. The company announced Friday that between May 8 and May 12, 2023, it bought back 26,200 of its own shares for a total value of EUR512,000 or so. The stock is floating in the green by 0.6 percent at EUR19.18.
On the SME segment, Casta Diva takes the top spot, rising 5.5 percent to EUR1.2450.
Bellini Nautica advances 3.5% to EUR2.34 per share, rearing its head after four sessions on the bearish side.
Culti Milano, on the other hand, advances 0.5 percent to EUR20.70, heading for the ninth session to end on a positive balance.
New York closed lower Friday, with the Dow Jones Industrial Average down 0.3 percent, the S&P 500 down 0.1 percent and the Nasdaq Composite down 0.2 percent.
Among currencies, the euro changed hands at USD1.0812 versus USD1.0815 at Friday's close. In contrast, the pound is worth USD1.2430 from USD1.2433 on Friday evening.
Among commodities, Brent crude is worth USD75.55 per barrel versus USD75.78 per barrel Friday night. Gold, on the other hand, trades at USD1,979.47 an ounce from USD1,983.17 Friday night.
On Monday's macroeconomic calendar, French BTF auctions are scheduled at 1500 CEST.
By Maurizio Carta, Alliance News reporter
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