(Alliance News) - Piazza Affari closed lower on Monday's session, with traders' eyes on Thursday's European Central Bank meeting that will set the Frankfurt-based institution's new economic policy.

Chris Beauchamp, Chief Market Analyst at IG, said, "It has been a while since investors received any Chinese stimulus headlines but the apparent change in policy stance following the overnight inflation data has given markets hope for more concrete measures."

"The news certainly breathed new life into the FTSE 100, which had been looking for a new engine after its late November recovery. Hopes for Chinese demand and turmoil in the Middle East also strengthened oil prices, which rebounded once again."

The FTSE Mib closed Monday down 0.6 percent to 34,559.83, the Mid-Cap gave up 0.1 percent to 48,055.54, the Small-Cap was up 0.6 percent to 28,470.85, and Italy Growth was up 0.3 percent to 7,793.99.

In Europe, London's FTSE 100 closed Monday up 0.5 percent, Paris' CAC 40 gained 0.9 percent and Frankfurt's DAX 40 lost 0.1 percent.

On the highest-capitalization list in Piazza Affari, Eni was unaffected by news of the explosion at a refinery in Calenzano, in the province of Florence, which killed two workers, and rose 0.6 percent. Nine employees were injured while three are missing. The explosion was also felt in neighboring municipalities and the environmental impact is yet to be verified.

"Eni is fully cooperating with the judicial authority in ascertaining the dynamics and causes of the explosion of one of the tanker trucks at the loading shelter. Eni confirms that the fire was fully extinguished this morning in a timely manner by firefighters."

As the Corriere della Sera reports, "the explosion of the Eni depot and the harsh consequences on the environment and mobility is considered by more than one observer as a disaster foretold in the Florentine Plain. Just two years ago, in fact, a study commissioned by the municipality of Calenzano identified two industrial sites including the depot at risk of a major accident."

Well again Moncler, up 3.2 percent, after closing up 5.0 percent in Friday's session. This is the fourth consecutive bullish session. Goldman upgraded the stock to 'buy' with a target price of EUR58.70.

Well Brunello Cucinelli, up 2.0% to EUR98.85, touching EUR100.00 per share during the session.

Purchases continue for Banco BPM -- up 2.2% -- after Crédit Agricole increased its stake from 9.9% to 15.1% and intends to apply for permission to rise to 19.9%.

According to reports in Corriere della Sera on Monday, the move by the CEO, Philippe Brassac, is strategic and aims to protect the 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 with Consob a public exchange offer to take over Banco BPM.

Inwit reverses course and gives up 0.3%. The company's CEO, Diego Galli, expects to exceed EUR1.00 billion in revenues by year-end, a significant jump from EUR750.0 million four years ago.

Profit taking for Campari, which gives up 1.7 percent to EUR6.1660 per share, after five bullish sessions.

On the Mid-Cap, Digital Value rises 6.4 percent to EUR25.90 per share, in its fifth straight session up. Of note, PDT Partners raised its short position on the stock to 0.71% from 0.49% previously.

Doing well is The Italian Sea Group, up 1.3%, in its second consecutive bullish session.

Salvatore Ferragamo soars 6.7% despite Goldman Sachs cutting target price to EUR6.50 from previous EUR7.10.

Banca Generali--slightly up--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.

The deal, with 69 percent of acceptances already collected and awaiting Consob and Bank of Italy approval by mid-December, aims to strengthen the offering in the Global Markets and Capital Markets sectors.

On Small-Cap, CY4Gate leaps to the top, up 9.7 percent, consolidating the bullish performance of the past 30 days.

doValue rises 6.9 percent to EUR1.6760 per share. The stock attempts a recovery after falling 2.5% in the last month and 58% in the last six months.

Good Fidia - up 5.4% - after leaving 20% on the parterre in the last session.

Among SMEs, Friulchem is up 19%, with the stock rising to three-month highs at EUR0.87 per share.

SolidWorld Group is doing well, up 10% to EUR2.1150 per share, in its third straight session among gainers. The stock has gained about 35 percent in the past 30 days.

Among the gainers, Portobello rises 15 percent while Vivenda Group starts its second week of trading on a positive note, putting it up 5.1 percent to EUR0.95, equaling the Dec. 2 placement price.

Almawave - up 3.3 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 gives up 0.3 percent to 44,529.88, the Nasdaq drops 0.7 percent to 19,729.16 and the S&P 500 is losing 0.5 percent to 6,058.75.

Among currencies, the euro changes hands at USD1.0586 from USD1.0571 in Friday's European equities close. The pound is worth USD1.2793 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.

Tuesday's macroeconomic calendar opens with Japan's Gross Domestic Product, due at 0050 CET, followed by China's trade balance, at 0400 CET.

German inflation, at 0800 CET, will shift the focus to the Old Continent, where Italian industrial production data will also arrive at 1000 CET. An hour later, the Eurogroup meeting will kick off.

Overseas, U.S. private sector productivity data will arrive at 1430 CET, 25 minutes before the Redbook. At 2230 CET, room for weekly oil stocks.

Among the companies in the Piazza Affari, the accounts of Homizy and Sicily by Car are expected.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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