(Alliance News) - The Mib is moving bearish on Monday, settling around the 34,300 level, after far-right parties gained significant ground in the European elections.

Georgia Meloni's Fratelli d'Italia garnered more than 28 percent of the vote, more than four times that obtained in the last European elections in 2019 and surpassing the 26 percent obtained in the national vote in 2022. In addition, in a surprise move, French President Macron called early elections after Marine Le Pen's National Front won more than 30 percent of the vote.

Thus, the Mib trades in the red 1.0 percent to 34,315.83, the Mid-Cap gives up 0.7 percent to 47,719.48, the Small-Cap is in the red 0.7 percent to 29,189.75, while Italy Growth is giving up 0.1 percent to 8,192.69.

In Europe, London's FTSE 100 is in the red by 0.5 percent, Paris' CAC 40 is losing 2.1 percent, and Frankfurt's DAX 40 is in the red by 1.0 percent.

On the Mib A2A is giving up 0.7 percent to EUR1.92 per share, in its third bearish session.

Amplifon is giving up 0.8%, priced at EUR33.73 per share, while on a week-to-week basis it is posting a slight gain.

ERG, on the other hand, is giving up 1.0 percent. The company reported that the Fitch Ratings agency confirmed a Long Term Issuer Default Rating of BBB- stable outlook and a senior unsecured rating of BBB- for the company.

The board of directors of Prysmian -- in the red by 1.5 percent -- on Friday resolved to exercise the early redemption option for the entire outstanding amount of the EUR750.0 million convertible bond denominated "Equity Linked Bonds due 2026" issued in February 2021. The board of directors also resolved to start a share buyback program that will be implemented starting June 10 and will last until March 10, 2025, for a maximum of 8.0 million shares and a countervalue not exceeding EUR375 million.

Among the bullish few, Leonardo is advancing 1.4 percent to EUR24.51 per share, after having updated its 52-week high at EUR24.59.

On the cadet segment, active for Saes Getters, which is advancing 1.8 percent after 0.2 percent on Friday evening.

Also advancing well is Comer Industries, which scores a plus 1.2% at EUR33.70 per share, on the heels of Friday night's 6.4% gain.

Among the bearish - a majority on this list as well - Moltiply Group is giving up 3.0%, heading for its third bearish session.

Salvatore Ferragamo, on the other hand, is giving up 2.1%, following up from 1.0% on the eve.

On the Small-Cap, E.P.H. is giving up more than 12%, following Friday night's double-digit decline.

Seri Industrial, on the other hand, is giving up 4.3 percent, following the green with 3.2 percent in the previous session.

Among SMEs, Franchi Umberto Marmi is advancing 2.5 percent bringing its price to EUR6.05 per share.

Iervolino & Lady Bacardi Entertainment gives up 4.7 percent after approving final group results for the first quarter to March 31, which closed with a net profit of EUR400,000 from EUR2.5 million in the same period a year earlier, as a result of lower Ebit but also due to triple-digit increases in financial expenses associated with higher interest rates. Revenues amounted to EUR29.6 million from EUR32.5 million in the same period a year earlier.

Illa, which was suspended from trading, announced Sunday that its board of directors had taken note of "the impossibility of approving the annual financial statements and the consolidated financial statements as of December 31, 2023 by the deadline of June 30, 2024." The reason, the company explained, is the uncertainties about continuity brought about, as part of the ongoing negotiated crisis settlement procedure, "by Negma's failure to provide a prededuction loan of EUR1 million and the failure to subscribe to a tranche of the convertible bond in the amount of EUR500,000," resulting in the "suspension from trading of the shares issued by the company" as per the Euronext Growth Milan Issuers' Regulations, "as well as concrete risks regarding the objective of a favorable outcome of the negotiated settlement."

In New York on Friday, the Dow closed 0.2 percent in the red at 38,798.99, the Nasdaq gave up 0.2 percent to 17,133.13 and the S&P 500 lost 0.1 percent to 5,346.99.

Among currencies, the euro changed hands at USD1.0741 from USD1.0806 on Friday in European equities closing while the pound was worth USD1.2691 from USD1.2723 on Friday evening.

Among commodities, Brent crude is trading at USD79.78 per barrel from USD79.98 per barrel at Friday's close. Gold, on the other hand, trades at USD2,295.11 an ounce from USD2,313.00 on Friday evening.

On Monday's macroeconomic calendar, a US Treasury bond auction will take place at 1600 CEST.

By Maurizio Carta, Alliance News reporter

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