(Alliance News) - A bearish tone prevails in the major European exchanges mid-day Monday, albeit with indexes close to parity, reflecting a cautious sentiment as traders digest new corporate results in various markets and a rise in bond yields, in anticipation of the European Central Bank's monetary policy decision scheduled for Thursday.

Tensions remain high in the Middle East, with Israel's incessant bombardment of Gaza, while the UK and the U.S. strengthen their presence in the area to avert a dangerous escalation of the conflict.

The FTSE Mib, therefore, gives up 0.2 percent to 27,317.81, the Mid-Cap is in the red 0.5 percent to 37,954.02, the Small-Cap is in the red 0.8 percent to 24,332.77, and Italy Growth retreats 0.4 percent to 7,755.10.

London's FTSE 100 gives up 0.6 percent, Paris' CAC 40 is in the red by 0.1 percent and Frankfurt's DAX 40 retreats 0.5 percent.

On the main list of Piazza Affari, UniCredit -- in the green by 1.7 percent -- and Alpha Services and Holdings SA announced Monday that they have signed a binding term-sheet for the creation of a strategic partnership in Romania and Greece.

In Romania, the parties agreed on key economic terms to proceed with the merger of UniCredit Romania with Alpha Bank Romania SA, which will create the third largest bank by total assets in the local market, with an overall market share of 12 percent by total assets.

In Greece, meanwhile, the companies agreed on the creation of a contractual framework for the implementation of a business partnership to distribute UniCredit's asset management and unit-linked products to Alpha Bank's 3.5 million customers and the creation of a joint venture in insurance and pension investment products with UniCredit becoming a 51 percent shareholder in AlphaLife.

The podium, along with UniCredit, is for Tenaris and BPER Bank, which advance 1.6 percent and 2.7 percent.

Eni -- in the red by 0.1 percent -- announced Monday that it has signed a long-term contract with QatarEnergy LNG NFE, the joint venture between Eni and QatarEnergy to develop the North Field East project in Qatar, for the supply of up to 1.5 billion cubic meters per year of LNG.

The available volumes will be delivered to the "FSRU Italia" regasification terminal currently located in Piombino, with deliveries scheduled to start in 2026 for a 27-year duration.

Telecom Italia remains in the bearish area and gives up 2.3 percent. The company announced Sunday that its board of directors will meet on Nov. 3 "to examine the binding offer on NetCo and the offer, of a non-binding nature, related to Sparkle, received from Kohlberg Kravis Roberts & Co. L.P. last Oct. 16, as well as to examine the question of which corporate body is competent to decide on the matter."

An informal board meeting will be held on Nov. 4 to continue questioning management and consultants, the company points out, and the board "will meet again formally on Nov. 5 to deliberate."

On the cadet segment, Maire Tecnimont -- in the green by 1.0 percent -- announced Monday that it has been awarded new contracts worth a total of about USD60 million in its Sustainable Technology Solutions business unit.

Specifically, the company points out in a note, STS was awarded licensing and equipment supply contracts for an "Ultra Low Energy" urea plant in China for client Shandong Lianmeng Chemical Company.

Banca Ifis--in the red by 1.1 percent--reported Thursday that the board has appointed Antonella Malinconico as the new preisdnete of the Audit and Risk Committee.

Beatrice Colleoni, on the other hand, will lead the Remuneration committee while Roberta Gobbi will replace the resigning Monica Regazzi as a member of the Appointments committee, of which she will also be chairman.

The board of directors of Alerion Clean Power -- in the red by 0.2 percent -- on Friday approved the signing of two preliminary contracts to purchase 100 percent of the share capital of two companies that own two licensed wind power projects. The seller is Fri-el Spa, a wholly owned subsidiary of Fri-el Green Power Spa. The planned investment the construction of the wind power plants will amount to about EUR100 million and both plants are expected to start operation by the first half of 2025.

Alerion's board also resolved to purchase 100 percent of the share capital of Fri-el Solar Srl, a wholly owned subsidiary of Fri-el Spa, which holds a portfolio of photovoltaic development projects in Italy.

Brunello Cucinelli advances 0.8 percent after closing up 4.8 percent on strong results. The company reported Thursday that revenues for the first nine months rose 28 percent year-on-year to EUR818.4 million from EUR642.0 million in the same period a year earlier. In Italy, revenues increased to EUR97.2 million from EUR78.0 million, in Europe -- excluding Italy -- they rose to EUR217.9 million from EUR184.2 million, in the Americas they improved to EUR284.7 million from EUR233.9 million, and in Asia they increased to EUR218.6 million from EUR146.0 million.

Salvatore Ferragamo remains down, 0.9 percent with price at EUR11.70 per share. The luxury company reported that its revenues were down 8.3 percent year-on-year in the nine months, to EUR844 million, due in part to a decline in both the Retail and Wholesale channels, with sales down 10 percent and 17 percent, respectively.

On a geographic basis, in Asia-Pacific, sales fell 16 percent, EMEA saw a 3.1 percent increase in sales, North America saw sales fall 20 percent, and Central and South America saw a 3.1 percent drop in sales.

On the Small-Cap, Bastogi remains on top with 8.8% followed by algoWatt, up 4.7%.

Esprinet - in the red by 0.6 percent - announced Thursday that it will distribute Garanteasy in Italy, a cloud service built around consumer needs that makes it easy to manage any type of warranty on consumer goods by connecting all players in the warranty ecosystem: stores, e-commerce, manufacturers, insurance companies, service centers and payment systems.

Among SMEs, Growens - in the red by 0.1 percent - announced on Monday that it had finalized the transaction to sell 100 percent of the share capital of its Dutch subsidiary Datatrics BV to Squeezely BV, a company in the Spotler Group, a leading marketing automation player in the Netherlands and the UK.

The final price paid by the buyer for the purchase and sale of Datatrics' assets is EUR1.6 million.

ALA divests 4.0 percent after announcing on Monday that it had acquired an additional 40 percent of ALA Germany GmbH, a Hamburg-based company, thus coming to hold 100 percent of its share capital. The 40 percent was taken over for a price of EUR450,000, paid to the seller from the IPO proceeds. The total investment for the 100% stake in ALA Germany is EUR750,000.

Emma Villas - rising with 8.3 percent - reported Monday that it had achieved a record summer season. As of Oct. 17, according to management data collected by the Emma Villas Observatory, there were 5,930 bookings in Italy, surpassing by 4.2 percent the total bookings recorded in all of 2022, "a figure destined to improve further in view of the December holidays, where end-of-year bookings are traditionally concentrated," the company's note said.

Clabo gives up 1.6 percent after reporting Friday that net sales for the first nine months of the year rose 22 percent year-on-year to EUR47.8 million from EUR39.3 million in the same period a year earlier.

Revenues rose 8.6 percent to EUR48.7 million from EUR44.9 million, and Ebitda showed a 40 percent increase to EUR6.9 million from EUR4.9 million, with margin of 14.1 percent from 10.9 percent a year earlier.

In Asia, with Hong Kong closed for Chung Yeung Day, the Nikkei closed down 0.8 percent to 31,008.50 and the Shanghai Composite gave up 1.5 percent to 2,939.29.

In New York on Friday, the Dow closed down 0.9 percent at 33,127.28, the Nasdaq gave up 1.6 percent to 12,983.81 and the S&P 500 finished 1.3 percent in the red at 4,224.16.

Among currencies, the euro changed hands at USD1.0612 against USD1.0591 recorded in Friday's European stock close while the pound was worth USD1.2168 from USD1.2148 last night.

Among commodities, Brent crude is worth USD92.20 per barrel from USD93.20 per barrel at Friday's close. Gold, on the other hand, trades at USD1,980.87 an ounce from USD1,985.81 an ounce Friday night.

Monday's macroeconomic calendar is fairly bare of events, with Eurozone consumer confidence expected at 1600 CEST and French and US government bond auctions to be held at 1455 CEST and 1730 CEST, respectively.

By Chiara Bruschi, Alliance News reporter

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