(Alliance News) - The Mib index moves bearish in the first session of the week, trading around the 28,500 level, following in the wake of other European stock markets after weak economic data from China dented investors' appetite for risk.

On the domestic front, of note, Italy's inflation was confirmed at 6.4 percent year-on-year in June, slowing from 7.6 percent in May, Istat reported Monday. The deceleration in the inflation rate is still primarily due to the trend-based slowdown in prices of unregulated energy goods, up 8.4 percent from the previous month's 20 percent increase

In Piazza Affari, the FTSE Mib falls 0.3 percent to 28,581.60, the Mid-Cap gives up 1.2 percent to 42,268.07, the Small-Cap loses 0.3 percent to 26,526.56 while Italy Growth gives up 0.2 percent to 9,073.28.

In Europe, London's FTSE 100 is down 0.3 percent, Paris' CAC 40 is giving up 1.2 percent, and Frankfurt's DAX 40 is down 0.4 percent.

On the main list of the Italian stock exchange, Leonardo is advancing well, posting a plus 1.7 percent after closing just below par on Friday evening. The stock had previously come from five sessions closed among the bullish.

BPER Banca, on the other hand, rises 1.4 percent, rearing its head again after contracting 0.8 percent Friday night.

Banco BPM rises 1.7 percent after it signed a binding agreement on Friday with Gruppo BCC Iccrea and FSI to form a strategic partnership aimed at developing a new Italian, 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 business, 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, it is doing worse than all Moncler, which is posting a minus 4.4 percent, after a 0.2 percent loss in the previous session.

Rear-ends also for Interpump, which is marking minus 3.0%, in its third bearish session.

On the Mid-Cap, Cembre advances 4.3%, with new price at EUR31.60 per share, on the heels of Friday's gain when it picked up plus 2.7%.

Banca Popolare di Sondrio, meanwhile, advances with 1.9 percent, positioning itself toward its fifth session to close higher.

At the back of the pack Eurogroup Laminations is giving up more than 10 percent, showing itself as the worst on the list at the moment.

Low quarters also for Brunello Cucinelli, which is posting a minus 4.8 percent on its third bearish session.

Among the lower-capitalization companies, Sabaf Group rises 4.8 percent after it, through its subsidiary Sabaf America, signed a deal 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.

Instead, Il Sole 24 Ore advances 7.7 percent, rebounding after six sessions closed on the bearish side.

Restart, on the other hand, marks a rise of 6.3 percent, following last session's 4.6 percent rise.

Olidata, on the other hand, is giving up 4.9 percent to EUR0.3140. Of note, the stock has more than doubled its market cap since the start of 2023 with an increase of more than 103%.

Among SMEs, boost on Casta Diva Group, which advances 6.8% in its third session on the bullish side.

Also doing well is 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.

Renergetica, on the other hand, gives up 3.1 percent, with new price at EUR6.20 positioning itself in the rear.

Websolute, on the other hand, retreats 3.1 percent, after two sessions closed among the bullish.

In New York, the Dow Jones closed Friday up 0.3 percent to 34,509.03, the Nasdaq lost 0.2 percent to 14,113.70 and the S&P 500 fell 0.1 percent to 4,505.42.

Among currencies, the euro changed hands at USD1.1242 against USD1.1242 on Friday in closing European equities while the pound was instead worth USD1.3091 from USD1.3121 on Friday evening.

Among commodities, Brent crude is worth USD78.69 per barrel versus USD79.96 per barrel at Friday's close. Gold, on the other hand, trades at USD1,958.80 an ounce from USD1,958.73 an ounce Friday night.

On Monday's macroeconomic calendar, a three- and six-month Treasury bond auction will be held in the afternoon from the US at 1730 CEST.

By Maurizio Carta, Alliance News senior reporter

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