(Alliance News) - On Monday, major European stock markets continued to trade in positive territory in mid-session, with the Italian banking sector continuing the bullish trend started at the opening.

Among the few macros of the day, Germany's Ifo business climate index unexpectedly fell to 88.6 from 89.3 in May, below forecasts of 89.7.

The expectations indicator fell to 89 from 90.4 while the current outlook stabilized at 88.3.

Readings showed a deterioration in business sentiment and the German economy's difficulty in overcoming stagnation.

Thus, the FTSE Mib is up 1.1 percent to 33,673.55, the Mid-Cap advances 0.6 percent to EUR47,455.45, the Small-Cap is up 0.5 percent to 28,964.31, while Italy Growth rises 0.2 percent to 8,126.01.

In Europe, London's FTSE 100 is in the green by 0.4 percent as is Frankfurt's DAX 40 while Paris' CAC 40 advances 0.5 percent.

On the Mib, the push on the banking sector continues, with BPER Banca remaining the strongest stock, up 4.8 percent. Banca Monte dei Paschi di Siena and UniCredit follow, in the green by 3.7 percent and 2.9 percent.

It is worth noting that UniCredit has announced that it has finalized the implementation arrangements for the execution of the third and final tranche of the 2023 buyback plan in the amount of EUR1.5 billion and number of shares of 155.1 million.

The third tranche is the last part of the remaining amount of the total payout from the 2023 fiscal year of EUR3.1 billion.

Also in the highs are Banca Popolare di Sondrio and Banco BPM, with 2.5 percent 2.3 percent respectively.

Tenaris -- in the green by 0.8 percent -- reported the purchase of 4.7 million shares that took place between June 17 and June 21. The shares were taken over at an average price of EUR14.4860 for a total value of EUR67.8 million.

As a result of these purchases, the company holds 39.1 million or 2.7 percent of the share capital.

Only two stocks are bearish: Hera is down 1.7 percent while ERG is in the red by 0.4 percent.

On the cadet segment, Fincantieri does best of all and rises 7.1%. The company together with Viking announced Friday that it has signed contracts to build two cruise ships.

The ships will be based on the characteristics of previous ships already built by Fincantieri for this shipowner and will be delivered between 2028 and 2029. The value of the deal has been described as "large."

Banca Ifis follows, in the green by 3.3 percent followed by Industrie De Nora, which rises 2.9 percent.

Maire Tecnimont -- in the green by 0.4 percent -- announced Thursday that NextChem, through its subsidiary NextChem Tech, will act as Technology Design Integrator to develop the Process Design Package for the hydrogen and carbon dioxide recovery unit of the Hail and Ghasha development project.

The Hail and Ghasha project, whose project was awarded to Tecnimont - Maire's Integrated E&C Solutions - by ADNOC in October 2023 for a total value of USD8.7 billion, is one of the most strategic initiatives globally for the decarbonization of the energy transformation industry, the company explained in a note.

In addition, the company announced Monday that NextChem, through its subsidiary MyRechemical, a leader in the Waste-to-Chemical segment, has signed a license agreement with DG Fuels Louisiana in connection with its proprietary NX Circular gasification technology.

The plant, expected to be operational in 2028, will produce 450 million liters per year of Sustainable Aviation Fuel derived from residual biomass and a small portion of municipal waste.

d'Amico International Shipping -- in the green by 2.0 percent -- announced Monday the purchase of 17,243 shares at an average price of EUR6.4244 for a total consideration of EUR110,775.93.

The shares were purchased between June 17 and June 21.

Among smallcaps, Bialetti Industrie takes the top spot with an 8.5 percent rise. Also doing well is illimity Bank with a 5.2 percent rise.

On the other side of the list, Netweek gives up 47 percent while EEMS is 5.2 percent in the red.

Among the SMEs, RESo Recupero Etico Sostenibile - flat at EUR5.95 - announced the startup of the plastics washing and granulation plant at the Pettoranello del Molise industrial site, which will enable the regeneration of rigid plastic packaging - mainly PET, HDPE and PP - into thin and small flakes while carrying out washing at the same time.

The investment, which has been submitted to the Ministry of Ecological Transition for approval and is the recipient of EUR9.6 million in co-financing from the PNRR, is the second pillar of the company's industrial project that sees the Pettoranello del Molise site

rise 0.6 percent after it announced Friday that it has signed a contract for the construction of a photovoltaic plant, to be built in the province of Alessandria, commissioned by a leading international operator in the energy sector.

The order consists of the design, construction and installation of a photovoltaic plant with a capacity of 5 MWP in the Piedmont region.

The amount of the order, which is approximately EUR4.2 million, will be for fiscal years 2024 and 2025.

Ecomembrane is not yet affected by the trades. The company reported that SBS Solar, a 55 percent subsidiary of Ecomembrane and part of the consolidation scope, has signed a three-year framework contract with a leading energy operator for the design and supply of Solaxis single-axis solar trackers on nine photovoltaic plants, to be built in the future, with a total installed capacity of more than 100MW.

The total value of materials purchased under the framework contract, for the first four plants under exclusivity, is estimated and will not exceed EUR6.5 million over a three-year period.

Comal rises 2.9 percent after it announced Friday that it has won a EUR1.2 million order from an Italian operator to supply the Sun Hunter tracker.

The tracker is designed and manufactured by Comal at its Montalto di Castro factory and is a state-of-the-art product, already with an extensive track record of completed installations and enabling a significant increase in the levels of energy produced by the plant and a sharp reduction in wind damage.

In Asia, the Nikkei rose 0.5 percent to 38,804.65, the Hang Seng closed fractionally in the red at 8,027.71, and the Shanghai Composite was down 1.2 percent at 2,963.10.

In New York on Friday, the Dow closed fractional green at 39,150.33, the Nasdaq finished down 0.2 percent at 17,689.36 and the S&P 500 fell 0.2 percent to 5,464.62.

Among currencies, the euro changed hands at USD1.0722 from USD1.0686 on Friday in closing European equities while the pound was worth USD1.2666 from USD1.2626 on Friday evening.

Among commodities, Brent crude is trading at USD85.70 per barrel from USD85.78 per barrel at Friday's close. Gold, on the other hand, trades at USD2,324.96 an ounce from USD2,338.90 on Friday evening.

Monday's macroeconomic calendar includes the Spanish consumer confidence index and Chinese foreign direct investment data at 1300 CEST.

By Chiara Bruschi, Alliance News reporter

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