(Alliance News) - Major European stock exchanges closed in a bearish trend on Monday, with optimism about measures to support China's real estate sector gradually fading. Trading venues are increasingly espousing that the Federal Reserve will confirm a halt to the interest rate hike cycle, while the ECB is also expected to leave borrowing costs unchanged for this month.

Thus, the FTSE Mib closed just below the parity line at 28,647.33, the Mid-Cap down 0.1 percent to 42,195.25, the Small-Cap finished in the green 0.2 percent to 27,269.23, while Italy Growth gave up 0.1 percent to 8,880.99.

In Europe, Paris's CAC 40 gave up 0.3 percent, Frankfurt's DAX 40 left 0.1 percent on the sidelines, and London's FTSE 100 gave up 0.2 percent.

On the blue chip list, Telecom Italia stood on the highs rising 3.5% to EUR0.3046, in its sixth bullish session.

FinecoBank also did well, picked up 2.1% rearing its head after three bearish sessions with final price at EUR12.82.

Campari, on the other hand, appreciated 0.7% after two sessions ended among the bearish.

Eni - up 0.4% - on Monday announced that it had signed an agreement with Oando PLC, the leading Nigerian energy company listed on both the Nigerian Stock Exchange and Johannesburg, to sell Nigerian Agip Oil Company Ltd, a wholly owned subsidiary of Eni and active in Nigeria in onshore hydrocarbon exploration and production and power generation.

Prysmian -- down 1.2 percent -- on Monday announced that it had completed the installation and high-voltage testing of its 1,400 km of submarine and land-based power cables for the Viking Link Interconnector, the world's longest onshore and offshore high-voltage direct current interconnector linking the United Kingdom and Denmark.

Saipem, on the other hand, gives up 2.3 percent. Of note, the company on Thursday reported that it had successfully completed the placement of EUR500 million of senior unsecured guaranteed equity-linked bonds maturing in 2029.

Also among the bearers was Banca Monte dei Paschi, which flexed 3.7 percent, positioning its snout toward the third session to close with a negative balance.

On the Mid-Cap, good buying on Ariston Holding, which moves ahead 5.1 percent, rearing its head after three bearish sessions.

Technogym, meanwhile, advances 2.1 percent to EUR8.01 per share, following a 0.6 percent decline in the previous session.

WorldQuant cuts short position on Saras to 0.43% from 0.59%. The stock closed flat at EUR1.31 per share.

Anima Holding--down 0.6 percent--reported Monday that it had purchased 516,572 of its own shares. The shares were taken over at an average price of EUR3.7910 for a total of nearly EUR2.0 million. As a result of these purchases, Anima holds 7.3 million treasury shares or about 2.2 percent of the share capital.

Webuild, on the other hand, gave up 3.9 percent after a 0.2 percent loss on Friday night. The stock had risen sharply on Thursday after Snowy Hydro, the developer of the Snowy 2.0 project in Australia--Australia's largest hydropower project, 100% owned by Webuild after its acquisition of Clough--announced Thursday morning that it was revising its contract.

Juventus FC, on the other hand, gave up 5.1 percent despite Sunday night's success against Empoli. The Bianconeri club on Friday announced that it had reached an agreement with FC Union Berlin for the outright free transfer of the rights to the sports performance of the player Leonardo Bonucci. This transaction generates a negative economic impact on the 2022-2023 financial year of EUR5.6 million due to the adjustment of the net book value of the player's sports performance right.

On the Small-Cap, Saes Getters advanced 3.8%, bringing the price to EUR30.45 after a 0.7% gain on the eve.

Eurotech advanced 4.0%, in its sixth bullish session.

Conafi, on the other hand, picked up 2.7%, rebounding after eight sessions in a row closed down.

Itway fell 0.1 percent. It reported Friday that it has signed a partnership with CLoudian, a leading enterprise-class object storage software company. As Itway explains, this partnership aims to further expand Itway's cyber security and cyber resilience offerings. The Itway group expects revenues of EUR5 million in the next two years by operating in the service provider, public administration, healthcare, energy, education, banking and insurance sectors.

Among SMEs, Innovatec posted a plus 5.1 percent, reversing course after two sessions closed among the bearish.

High quarters also for Askoll Eva, which picked up a plus 2.7 percent from the previous session's 2.2 percent decline.

Also advancing well was CleanBnB, which moved ahead 2.3 percent after a 0.9 percent loss Friday night.

eVISO gave up 2.5 percent. The company reported Thursday that it closed the year ended June 30 with revenues up to EUR225 million from EUR208 million a year earlier.

Deodato.Gallery, meanwhile, left 2.6 percent on the parterre, setting the price at EUR0.5360 in the wake of Friday's 0.7 percent loss.

In New York, the stock exchanges are closed for Labor Day. Friday evening the Dow Jones closed in the green by 0.3 percent, the S&P finished up 0.2 percent, while the Nasdaq closed in the fractional red.

Among currencies, the euro changed hands at USD1.0791 against USD1.0814 in Friday's European stock close while the pound was worth USD1.2619 to USD1.2622 on Friday evening.

Among commodities, Brent crude is worth USD89.10 per barrel versus USD88.22 per barrel at Friday's close. Gold, on the other hand, trades at USD1,938.07 an ounce from USD1,9372.25 an ounce Friday night.

On Tuesday's economic calendar, Japan's services PMI is due at 0230 CEST and China's at 0345 CEST. In the morning, Italy's will be due at 0945 CEST, with five-minute intervals for France's, Germany's, and finally at 1000 CEST for the Eurozone's. At 1030 CEST the data from the United Kingdom will be due.

At 1100 CEST the Eurozone producer price index is expected.

From the US, at 1600 CEST the durable goods and factory orders. Finally, a 3-month, 6-month and 52-week Treasury bond auction is scheduled at 1730 CEST.

On the corporate calendar, coming up are the results of GVS, Immsi and Sabaf.

By Maurizio Carta, Alliance News reporter

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