(Alliance News) - On Monday, major European stock markets opened in negative territory, as expected, while traders' eyes are already on the upcoming PMI data between Italy and the Eurozone.

Thus, the FTSE Mib opens down 0.5 percent at 33,247.03, the Mid-Cap is in the fractional red at 47,033.13, the Small-Cap is down 0.1 percent at 27,314.77, and Italy Growth is down 0.2 percent at 7,666.50.

In Europe, London's FTSE 100 is in the red by 0.1 percent, Paris' CAC 40 gains 0.8 percent, and Frankfurt's DAX 40 rises 1.0 percent.

In macroeconomic news, Japan's Au Jibun Bank manufacturing PMI, released Monday by S&P Global, fell to 49.0 in November, marking the lowest figure since March, following October's 49.2, in line with preliminary estimates.

This was the fifth consecutive month of contraction in industrial activity, with output contracting the most since April due to a sustained reduction in new orders, with weak demand from both domestic and international markets.

In China, the Caixin index for China's manufacturing sector, released Monday by S&P Global, rose to 51.5 in November from 50.3 in October, exceeding market estimates of 50.5 and marking the second consecutive month of increase.

The expansion in industrial activity was the fastest since June, thanks to the strongest growth in foreign orders since February 2023 and a new increase in exports.

Back in Milan, on the highest-capitalization list in Piazza Affari, Brunello Cucinelli does best of all and rises 0.9 percent. Leonardo also does well, up 0.8 percent, while Monte dei Paschi di Siena, up 0.7 percent, closes the podium.

Among the bearish, sits on the bottom Stellantis, down 6.8%. Later in the day, eyes will be on the company after Carlos Tavares surprisingly resigned as CEO, effective immediately, after months of tension.

The board of Telecom Italia -- down 0.4 percent --, noting the advanced state of ongoing negotiations with the Ministry of Economy and Finance and Retelit for the purchase of TI Sparkle, agreed to the latter's request to extend the deadline for receipt of a binding offer to Dec. 16.

The former monopolist announced Friday that it had cashed in EUR250 million from the sale to Ardian of the remaining 10 percent in Inwit, which instead ended in a tie.

The deal, the signing of which had been disclosed to the market on August 13, is based on a valuation of Inwit shares of EUR10.43 and, taking into account existing net debt at the Daphne 3 level, results in TIM's proceeds of approximately EUR250 million, which is not included in the organic guidance for net debt for 2024.

Recordati gives up 0.5 percent. The company announced Friday the completion of the acquisition of the global rights to Enjaymo from Sanofi, following regulatory approvals.

Enjaymo is a biologic drug and the only approved product targeted for the treatment of cold agglutinin disease, a rare B-cell lymphoproliferative disorder. It is a humanized monoclonal antibody indicated for the treatment of hemolysis in adults with CAD.

On the Mid-Cap, Maire Technimont gives up 0.9 percent. The company, through its subsidiary Nextchem, inaugurated in Catania the "Nx engineering district," a high-tech engineering center located in the Science and Technology Park of Sicily.

Acea -- down 0.2 percent -- announced Thursday the award of the tender for the management of integrated water service in the Ato Ovest Provincia di Imperia area, worth an estimated more than EUR1.0 billion. Through Acea Molise, a wholly owned subsidiary of the group, Acea will acquire 48% of the newly formed mixed public-private company Rivieracqua, which holds the concession until 2042.

Mondadori rises 0.2 percent. According to a report on Friday by Il Sole 24 Ore, negotiations to acquire Lattes Editori, a well-known Turin-based publisher specializing in books for secondary schools, have stalled after months of negotiations.

On the Small-Cap, CY4Gate -- up 1.7 percent -- reported Friday that it has signed contracts worth a total of about EUR1.2 million with leading Italian corporate and institutional clients to acquire solutions in Cyber Security and Forensic Intelligence.

doValue rises 0.2 percent. SIH Partners has trimmed its short position on the stock to 0.79 percent from 0.80 percent.

Among the bearers are SS Lazio and Neodecortech, down 6.4% and 3.6%, respectively.

Among SMEs, UCapital24 -- in the green by 1.5 percent -- reported that the board has proposed a EUR2.8 million capital increase to shareholders to support the company's growth.

In addition to covering recent losses, the deal will allow the Piazza Affari-listed fintech to push the development of new platforms the company has been working on during 2024 that have positioned the company "as one of the most disruptive players in the global market."

Portobello gives up 1.0 percent. The company announced Friday that the chairman, Pietro Peligra, has resigned from his post.

He will be replaced by Sandro Nardi. As PMI explains, the resignation of Peligra, who held a non-executive role, is motivated by the need "to make the management of the company more adherent to the operational challenges of the moment, particularly in the current phase of relaunch and growth."

TraWell Co gives up 2.0%. The company reported Friday that the board has resolved to remove its common shares from the U.S. OTCQX market.

The company said decision is in line with its strategic goals to simplify operations and consequently limit its listing to only Euronext Growth Milan, operated by Borsa Italiana. The listing on the OTCQX market will end on December 31.

In Asia, the Nikkei closed up 0.8 percent at 38,513.02, the Shanghai Composite gained 1.1 percent to 3,363.98 and the Hang Seng rose 0.7 percent to 19,550.29.

In New York, the Dow closed Friday up 0.4 percent to 44,910.65, the Nasdaq rose 0.8 percent to 19,218.17 and the S&P 500 gained 0.6 percent to 6,032.38.

Among currencies, the euro changed hands at USD1.0509 from USD1.0556 on Friday in closing European equities. The pound is worth USD1.2694 versus USD1.2689 on Friday evening.

Among commodities, Brent crude is worth USD72.41 per barrel from USD73.38 at Friday's close. Gold trades at USD2,653.99 an ounce from USD2,655.54 an ounce Friday evening.

Monday's macroeconomic calendar features manufacturing PMIs from Italy, France, Germany, the Eurozone and the UK, coming between 0915 CET and 1030 CET.

At 1100 CET, eyes on Italy's Gross Domestic Product and the Eurozone unemployment rate.

At 1600 CET, the focus will shift overseas, with PMIs and T-Note auctions at 1600 CET.

Among companies in the Piazza Affari, no particular events are scheduled.

By Claudia Cavaliere, Alliance News reporter

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