(Alliance News) - The Piazza Affari closed slightly lower on Monday, at the end of a quiet day on the corporate and macroeconomic front.

Chris Beauchamp, chief market analyst at IG, said, "The week got off to a bad start on an otherwise quiet day for corporate news. In London, Ocado appears to be vulnerable to more selling as investors digest the impact of a spat with key partner Marks & Spencer while iron ore's four-month low and a sharp reversal in copper prices appear to mean more pain for mining stocks."

The FTSE Mib closed Monday down 0.4 percent to 32,557.81, the Mid-Cap was up 0.3 percent to 46,128.25, the Small-Cap gained 1.2 percent to 46,128.25, and Italy Growth was up 0.2 percent to 8,211.13.

In Europe, London's FTSE 100 closed 0.3 percent in the red, Frankfurt's DAX 40 finished in a tie and Paris' CAC 40 gave up 0.5 percent.

On the Mib, Tenaris rose 0.9 percent after announcing results for the fourth quarter and year ended Dec. 31, a year that ended with a 5 percent increase in revenues on a sequential basis, "supported by a high level of shipments to the Middle East and for offshore pipeline projects," the company wrote in the note.

At the top is Leonardo, up 5.2 percent, followed by BPER Banca and Banco BPM, up 3.1 percent and 1.2 percent, respectively.

At the bottom ends Moncler, down 2.2 percent, after announcing Saturday--on behalf of Double R, Ruffini Partecipazioni Holding and Grinta--that the latter, a Rivetti family vehicle, has served notice of withdrawal from Double R.

Grinta holds a stake of about 16.473 percent in Double R, while Double R in turn holds about 23.721 percent of Moncler's share capital.

For the purposes of the withdrawal, the joint note says, Double R will assign to Grinta a number of Moncler ordinary shares "coinciding in transparency with the Moncler shares to which it is entitled." The Rivetti family will, therefore, own through Grinta its investment in Moncler shares.

On the Mid-Cap, Ariston Holding--in the red by 0.1 percent--reported that it has finalized an agreement to acquire a manufacturing site located in the Oct. 6 Municipality Industrial Park near Cairo, Egypt, from Universal Group, a historic Egyptian manufacturing company founded by Youssri Kotb.

Seco topped the list, up 9.3 percent, followed by Ferretti, up 4.5 percent.

At the other end, Philogen gave up 3.6 percent and Salvatore Ferragamo closed down 2.6 percent.

Among smallcaps, Tesmec lost 1.3 percent after reporting preliminary operating data for fiscal 2023 and letting it know that it revised its closing estimate due to a slowdown in Trencher business.

Preliminary revenues then came in the EUR252-258 million range compared to EUR245.2 million as of Dec. 31, 2022, and against the forecast of expected revenues in the EUR270-280 million range.

IGD is up 4.2 percent after announcing Friday that it has signed an agreement with Sixth Street and subsidiaries of Starwood Capital and Prelios SGR, among the leading real estate management and services companies in Italy, to sell a portfolio consisting of 13 assets, valued at EUR258 million, broadly in line with the book value as of Dec. 31, 2023. The transaction will close by April 2024.

FNM - flat at EUR0.4470 - announced the completion of the closing for the acquisition of 80 percent of the share capital of Viridis Energia, an independent power producer, from Lagi Energia 2006 and HNF, as previously anticipated.

The acquisition was finalized through the payment of EUR80 million.

Compagnia Immobiliare Azionaria gave up 14 percent after opening up 6.7 percent. On Friday, the company informed that it had approved plans to merge CIA into Compagnie Fonciére Du Vin.

Sogefi rose 36 percent after announcing Friday that it closed 2023 with a profit of EUR57.8 million, up 95 percent from EUR29.6 million in 2022.

Consolidated revenues grew 5.5 percent to EUR1.62 billion from EUR1.54 billion in 2022. Ebitda of EUR221.4 million increased 14 percent from EUR195.1 million, with an Ebitda margin of 13.6 percent from 12.6 percent, driven by growth in volumes and contribution margin.

Antares Vision - in the red by 0.9 percent - reported Friday that its board of directors reviewed preliminary results as of December 31, 2023 reporting full-year revenues of EUR215 million to EUR220 million. Adjusted Ebitda "is expected to be," the company wrote, between EUR13 and EUR15 million.

Among SMEs, Palingeo closed at parity after opening up 4.5 percent. One week after its debut on the Milan Stock Exchange, the stock rose to EUR5.60 from its placement price of EUR5.00.

Generalfinance rose 4.5 percent after reporting that it closed 2023 with a 38 percent increase in profit to EUR15.1 million from EUR10.9 million as of December 31, 2022.

Net interest income in 2023 stood at EUR9.0 million from EUR7.3 million in the previous year.

Net interest and other banking income was EUR36.2 million from EUR30.9 million as of December 31, 2022.

Visibilia Editore--up 50 percent after a full day's stop due to volatility--reported on Friday that Visibilia Concessionaria Srl made a payment of EUR50,000 to Editrice last Feb. 15 in favor of the capital increase up to EUR1 million approved by its subsidiary Visibilia Editrice Srl.

Visibilia Concessionaria had previously expressed its willingness to subscribe to part of Visibilia Editore's capital increase up to a maximum of EUR600,000.

In New York, the Dow rises 0.1 percent to 39,155.54, the Nasdaq gains 0.1 percent to 16,010.89 and the S&P 500 gives up 0.1 percent to 5,084.08.

Among currencies, the euro changes hands at USD1.0850 against USD1.0825 recorded in Friday's European stock close while the pound is worth USD1.2678 from USD1.2669 on Friday evening.

Brent crude is worth USD82.06 per barrel versus USD82.33 per barrel at Friday's close. Gold, on the other hand, trades at USD2,029.65 an ounce from USD2,044.15 an ounce Friday night.

Tuesday's calendar opens with Japanese inflation at 0030 CET, followed by UK retail price data at 0101 CET and GfK's report on sentiment among German consumers at 0800 CET.

The morning continues with French consumer confidence at 0845 CET and Eurozone money supply and lending to individuals at 1000 CET. At 1110 CET, eyes on the six-month BOT auction in Italy while, at 1200 CET, the focus will be on data on job seekers in France.

Durable goods orders at 1430 CET and house prices at 1500 CET will be the main catalysts as far as the U.S. is concerned, where speeches by several membersrid of the Federal Reserve are also scheduled.

Among the companies in Piazza Affari, Anima Holding, Banco BPM, Campari, IGD, and MeglioQuesto will release their fiscal year 2023 accounts.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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