(Alliance News) - On Monday, major European mid-session stock markets continued mixed after the release of several macroeconomic data in the most relevant economies.

Thus, the FTSE Mib is down 0.4 percent to 33,298.28, the Mid-Cap is in the red 0.5 percent to 46,804.15, the Small-Cap is in the red 0.2 percent to 27,285.65, and Italy Growth is up 0.1 percent to 7,682.39.

In Europe, London's FTSE 100 is in fractional green, Paris' CAC 40 is down 0.4 percent, and Frankfurt's DAX 40 is up 0.5 percent.

In macroeconomic news, in the third quarter of 2024, Italy's GDP was unchanged from the previous quarter and grew by 0.4 percent compared to the same period in 2023. Acquired growth for the whole of 2024 was revised to 0.5 percent from the preliminary estimate of 0.4 percent.

Domestic final consumption increased by 1 percent, while gross fixed capital formation decreased by 1.2 percent.

Also in Italy, Italy's manufacturing sector continues to increasingly contract.

Weak demand conditions remain the main cause of the decline, with new order intake declining at the fastest rate observed so far in 2024.

In detail, the PMI index for the Italian manufacturing sector fell to 44.5 in November, down from 46.9 in October.

The number of employed and inactive people increased in October compared to the previous month, while the number of unemployed people decreased.

In detail, Istat reported that in October the unemployment rate fell to 5.8 percent from 6.0 percent in September.

In the Eurozone, the manufacturing sector deteriorated faster in November, with the latest data released Monday by S&P Global and compiled with Hamburg Commercial Bank showing larger contractions in new manufacturing orders, production, purchasing activity and inventories.

Employment levels also observed the sharpest decline since August 2020, with Germany and Austria in particular reporting sharp job cuts.

In detail, the index for the Eurozone manufacturing sector stood at 45.2 in November from 46.0 in October.

Back in Milan, on the highest-capitalization list in Piazza Affari, Leonardo does best of all and rises 2.1 percent. Also doing well is nexi, up 1.1 percent, while Interpump Group, up 1.0 percent, closes the podium.

Among the bearish, sits on the bottom Stellantis, down 7.1%. 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 1.2 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 transaction, 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 0.8 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 0.8 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 0.7 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 0.7 percent. Negotiations to acquire Lattes Editori, a well-known Turin-based publisher specializing in books for secondary schools, have stalled after months of negotiations, according to a report in Il Sole 24 Ore on Friday.

On the Small-Cap, CY4Gate -- up 0.7 percent -- announced Friday that it had 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 gives up 2.1 percent. SIH Partners has trimmed its short position on the stock to 0.79 percent from 0.80 percent.

Among the bearers is SS Lazio, down 4.6 percent.

Among SMEs, UCapital24--down 9.9%--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 publicly traded fintech to push the development of new platforms that the company has been working on during 2024 and that have positioned the company "as one of the most disruptive players in the global market."

Portobello rises 0.5 percent. The company announced Friday that its 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 relaunching 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 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 USD1.0522 from USD1.0556 on Friday in closing European equities. The pound is worth USD1.2707 versus USD1.2689 on Friday evening.

Among commodities, Brent crude is worth USD72.57 per barrel from USD73.38 at Friday's close. Gold trades at USD2,658.01 an ounce from USD2,655.54 an ounce Friday evening.

Monday's macroeconomic calendar features US PMI and T-Note auctions at 1600 CET.

By Claudia Cavaliere, Alliance News reporter

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