(Alliance News) - European stock markets finished lower on Monday, influenced by marked weakness in the oil and metals sectors after China's second quarter GDP growth came in lower than expected.

Clearly, under the lens of the trading rooms were possible moves by central banks. In the CME Group platform FedWatch Tool, using futures also based on the actual federal funds rate or EFFR, confirmation of the rate at the July 26 meeting has a 4 percent probability in the 500/525 bps range. In contrast, the 25 bps rise in the 525/550 bps target is priced at 96 percent.

Market prices also suggest that the Fed may start cutting rates next year.

In Piazza Affari, the FTSE Mib thus fell 0.2 percent to 28,608.54, the Mid-Cap gave up 1.3 percent to 42,216.10, the Small-Cap lost 0.3 percent to 26,538.58 while Italy Growth closed down 0.4 percent to 9,046.83.

In Europe, London's FTSE 100 closed down 0.3 percent, Paris' CAC 40 gave up 1.2 percent, and Frankfurt's DAX 40 finished down 0.2 percent.

On the main list of the Italian Stock Exchange, Leonardo advanced well, posting a plus 2.5 percent after closing just below par on Friday evening. The stock had previously come from five sessions closed among the bullish.

CNH Industrial also advanced 2.5 percent to EUR13.59 per share after two sessions ended among the bearish.

BPER Banca, on the other hand, rises 1.9 percent, rearing its head again after falling 0.8 percent on Friday evening.

Also among the best was Banco BPM, which rose 2.0 percent after it and Gruppo BCC Iccrea and FSI signed a binding agreement on Friday to form a strategic partnership aimed at developing a new Italian and independent company in the digital payments sector. The new company "will be a point of reference in the fintech landscape and with an approach oriented to innovation and the growth of digitization in our country," the joint note reads.

Following the contribution of Banco BPM's e-money activities, the joint venture will represent the second largest domestic player with a market share of more than 10 percent in the e-money sector, with about 9 million cards, 400,000 POS and about EUR110 billion in intermediated transactions.

On a negative note, Moncler gave up 2.9 percent with new price at EUR63.08, after 0.2 percent loss in the previous session.

Rear-ends also for Interpump, which posted minus 2.2%, in its third bearish session.

On the Mid-Cap, Cembre advanced 1.7 percent, with new price at EUR30.80 per share, on the heels of Friday's gain when it picked up plus 2.7 percent. Of note, Beremberg initiated coverage on the stock with a target price at EUR40.00.

Seco, on the other hand, picked up 3.4 percent to EUR4.78. On this stock Berenberg cut its target price to EUR8.00 from EUR10.00 with a 'buy' recommendation.

In contrast, Banca Popolare di Sondrio stock advanced 2.2 percent, positioning itself for its fifth session to close higher.

Salvatore Ferragamo closed down 1.0%, after a 0.9% gain on Friday evening, with new price at EUR14.65.

In the rear Eurogroup Laminations gave up more than 13%, showing itself as the worst on the list at the moment. JPMorgan Asset Management initiates short position on EuroGroup Laminations at 0.5 percent.

On the Small-Cap segment, Sabaf Group closed up 4.3 percent after it, through its subsidiary Sabaf America, signed a contract on Friday to buy 51 percent of Mansfield Engineered Components, a leading North American manufacturer of hinges for home appliances, designed and manufactured to meet the high quality and exacting standards demanded by the U.S. market. The agreements reached provide for a valuation of MEC of USD21 million. The payment of the price for the acquisition of 51 percent of the share capital, amounting to EUR10.5 million, was made in a lump sum.

Restart, on the other hand, ticked up 4.4 percent, following up on the 4.6 percent rise in the previous session and placing the price at EUR0.2150.

Bialetti Industrie rallied 1.4 percent, bringing the price to EUR0.2910.

Among SMEs, boost on Casta Diva Group, which advanced 5.6 percent in its third session on the bullish side.

Eles advanced 6.6 percent, with new price at EUR1.95 and rearing its head after three sessions in the red.

Svas Biosana - flat at EUR7.58 - finalized the issuance of two bonds totaling EUR13 million. The two bonds, non-convertible and non-subordinated, are instrumental in supporting the group's investment plan and were underwritten by Crédit Agricole Italia, in the role of anchor investor, Iccrea Banca, Banca di Credito Popolare and Finest.

Specifically, the transaction for a total of EUR13 million involved the issuance of two bonds, by the parent company Svas Biosana for EUR10 million and by the subsidiary Mark Medical for EUR3 million, both maturing on December 31, 2029, totally unsecured.

Italia Independent, on the other hand, gave up 4.7 percent, following up Friday night's 3.0 percent decline.

Behind - among many - also Farmacosmo, down 8.7 percent with new price at EUR1.05.

In New York, the Dow Jones is picking up 0.2%, the Nasdaq is advancing with 0.7%, while the S&P 500 is marking a green of 0.3%.

Among currencies, the euro changes hands at USD1.1236 against USD1.1242 in Friday's European equities close while the pound is instead worth USD1.3082 from USD1.3121 on Friday evening.

Among commodities, in a bearish trend, Brent crude is worth USD78.90 per barrel versus USD79.96 per barrel at Friday's close. Gold, on the other hand, trades at USD1,954.17 an ounce from USD1,958.73 an ounce Friday night.

On Tuesday's macroeconomic calendar, which is poor in major economic events, US retail sales along with Canada's inflation are expected at 1430 CEST.

At 1515 CEST it is the turn of US industrial and manufacturing production, and at 2230 CEST weekly oil stocks.

Among publicly traded companies, Sesa's results are expected.

By Maurizio Carta, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.