(Alliance News) - On Monday, European stock markets ended on a bearish trend, with trading rooms attempting to best position themselves taking into account what may be the future "declinations" of the Israeli conflict with Hamas, including its potential duration and the possibility of drawing other parties into the war scenario.

The main Milanese index thus closed bearish, placing the point bar in the 27,600 area, with momentum on the defense and oil sectors, while on the monetary policy front, in the CME Group platform's FedWatch Tool, using futures also based on the actual federal funds rate, or EFFR, the confirmation of the rate at the Nov. 1 meeting has a 79 percent probability for confirmation range 525/550 bps. In contrast, the 25 bps rise in the 550/575 bps target is priced at 21%.

Thus, the FTSE Mib, as mentioned, closed in the red 0.5% to 27,682.06, the Mid-Cap gave up 1.1% to 38,728.93, the Small-Cap closed in the red 0.8% to 25,021.09, while Italy Growth finished down 0.6% to 8,049.86.

In Europe, Paris' CAC 40 closed 0.6 percent in the red, London's FTSE 100 just below par, while Frankfurt's DAX 40 closed down 0.7 percent.

On the main list of the Italian Stock Exchange, from the top of the list Leonardo advanced well with a green of 4.8 percent to EUR13.56. The stock clearly received momentum from the Middle East conflict, rearing its head again after a six-session bearish streak.

Also a good session for Eni, which moves ahead 2.3 percent to EUR14.97. Goldman raised its target price on the stock to EUR18.00 from EUR17.00 with a 'buy' recommendation.

Banca Monte dei Paschi, on the other hand, gave up 6.3 percent, placing it at the back of the list after a 2.9 percent gain in the previous session.

Banca Generali, on the other hand, gave up 1.2 percent after announcing on Monday that it achieved net inflows of EUR373 million in September, up 42 percent from September 2022, bringing its total since the beginning of the year above EUR4.3 billion, up 7 percent from the same period last year albeit amid high volatility in global financial markets

Sales also prevailed on Telecom Italia, down 1.8 percent. Press reports, reported on the meeting between Treasury Minister Giancarlo Giorgetti and Meloni government chief of staff Gaetano Caputi, who, at the request of Vivendi, which is TIM's largest shareholder, received Chairman Yannick Bollorè and CEO Arnaud de Puyfontaine. For Vivendi, KKR's offer does not do justice to the strategic value of the infrastructure, without solving the debt problem at its root, putting the remaining company and its employees at risk. "This is why the French shareholder is ready to protect its rights in the most appropriate legal venues."

KKR has been working since June 26 together with TIM management to formulate a binding offer by October 15 for Netco, the company that encompasses the primary and secondary network, and Sparkle's submarine cables-which the MEF intends to take over at a later date.

Also on the Mid-Cap, good session for Acea, which closed up 3.0%, for the fourth time in a row with a bullish candle.

Italmobiliare, on the other hand, advanced 2.4%, after a 0.4% decline on Friday night.

Seco, on the other hand, left 6.8% on the parterre, bringing its price to EUR3.72 per share and closing for the fourth session in a row on the bearish side.

Brembo gave up 2.7 percent after announcing on Friday that the period for subscribing to the option and pre-emption offer addressed to shareholders for the purchase of 4.4 million shares subject to the company's withdrawal ended.

Significant selling also took place on Juventus FC, which finished in the rear, giving up 8.5 percent. It reported Friday that it closed the year with a loss of EUR123.7 million from EUR239.3 million in the same period last year, partly affected by negative revenue and cost effects related to the outcomes of Italian and international sports proceedings. As of June 30, revenues and income stood at EUR507.7 million from EUR443.4 million in 2022.

Anima Holding, on the other hand, gave up 0.2 percent. The company reported that the group's net inflows of assets under management in September were negative EUR271 million. At the end of September, total assets under management of the Anima group stood at about EUR184 billion. The company also informed that it has taken over treasury shares for EUR2 million during the past week.

On the Small-Cap, d'Amico closed in the green by 4.7 percent. with new price at EUR4.62 per share, on its third session in the black.

Also good was Emak, which rallied 3.4 percent after the previous two bearish sessions.

Pierrel--flat at EUR1.60--reported on Monday that it has obtained marketing authorization in Uzbekistan for its Articaine-based dental anesthetic, Orabloc in both formulations. With this new authorization, the company explained in a note, Pierrel strengthens its commercial presence in Central Asia.

CSP International, at the back of the pack, left 3.6 percent on the parterre, after greening 0.3 percent on Friday evening. High trading volume was reported on the stock, with more than 30,000 changed hands compared to a three-month daily average of just under 14,000.

Piquadro, on the other hand, took a 6.2 percent step back after a 1.3 percent red Friday night.

Among SMEs, eViso took home 6.2 percent to EUR2.41 per share after a bearish streak.

Growens -- in the green by 0.3 percent -- on Monday announced that it had signed a binding agreement to sell 100 percent of the share capital of its Dutch subsidiary Datatrics BV to Squeezely BV, a Spotler Group company, a leading marketing automation operator in the Netherlands and the UK, for a total consideration of EUR1.7 million.

ESI, on the other hand, gave up 3.8 percent, with price at EUR1.41, closing for the sixth consecutive session with a bearish trend.

Digital Magics took a step back 0.9 percent repricing at EUR2.20. The stock touched its new 52-week low in the day at EUR2.13.

In New York, the Dow is giving up 0.1 percent, the Nasdaq is leaving 0.6 percent on the parterre while the S&P 500 is marking a 0.2 percent decline.

Among currencies, the euro is changing hands at USD1.0544 against USD1.0537 recorded in Friday's European stock close while the pound is instead worth USD1.2210 from USD1.2191 on Friday evening.

Among commodities, Brent crude is worth USD88.09 per barrel from USD83.65 per barrel at Friday's close. Gold, on the other hand, trades at USD1,852.67 an ounce from USD1,823.81 an ounce Friday night.

Tuesday's macroeconomic calendar opens at 0150 CEST with the arrival of the current account balance from Japan while at 1000 CEST it will be the turn of Italian industrial production. At 1400 CEST, there will instead be a speech by the European Central Bank's number one, Christine Lagarde.

At 1530 CEST, from the U.S., focus on Fed member Bostic's speech while it will be followed, at 1900 CEST, by Waller's and, at 2100 CEST, by Kashkari's.

On the corporate calendar from the Piazza Affari, no special events are scheduled.

By Maurizio Carta, Alliance News reporter

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