(Alliance News) - European stocks got off to a negative start Monday on expectations of further policy tightening by central banks around the world and disappointing economic data from China.

These revealed that deflation from the country's factory goods increased more than expected in June, while consumer prices remained stagnant, below the expected 0.2 percent increase.

Investors are also closely monitoring upcoming U.S. consumer price data for information on the potential trajectory of interest rate hikes by the Federal Reserve. Encouraging indicators such as robust wage growth and a slight decline in the unemployment rate, reported Friday, suggest that the Fed is likely to proceed with announced rate hikes at its scheduled July meeting.

Thus, the FTSE Mib marks a 0.3 percent decline to 27,704.87.

In Europe, London's FTSE 100 marks a bearish reading of 0.1 percent, Paris' CAC 40 is giving up 0.3 percent as is Frankfurt's DAX 40.

The Mid-Cap is giving up 0.2 percent to 42,052.76, the Small-Cap in the red 0.1 percent to 26,678.59 while Italy Growth is just below par at 9,041.77.

On the main index of Piazza Affari, Interpump is giving up 1.2 percent to EUR47.32 per share, after the 1.6 percent gain with which it closed Friday's session.

Also at the back of the pack is Amplifon, which marks minus 1.2 percent with new price at EUR29.93.

JP Morgan cut FinecoBank's target price to EUR17.10 from EUR18.00. The stock opened trading in the green by 1.9%.

Good buying also on BPER Banca, which marks a green of 0.9 percent with new price at EUR2.7540.

On the cadet segment, Maire Tecnimont - up 1.5 percent - announced Friday that it had purchased 551,200 of its own shares between June 30 and July 6 at a weighted average price of EUR3.575 and for a total consideration of EUR1.9 million. With this transaction, the company has taken over all the shares to service the plan, which is, therefore, completed. In light of the purchases, the company now holds 1.2 million of its own shares.

Good purchases also on Caltagirone, which advances 1.0 percent to EUR3.90 per share.

At the tail end is Carel Industries, which marks a minus 1.3% bringing the price to EUR26.85.

Selling also prevails-among the many stocks down-on Mondadori Editore, which retreats 0.9% after surging with 2.6% on Friday evening.

On the SmallCap, push on Pierrel, which advances more than 13 percent, although on the weekly it still shows a liability of about 3.6 percent.

High quarters ancher for SoftLab, which scores a plus 5.3% and brings the price to EUR1.80 per share.

On the negative note, Bioera, on the other hand, retreats 3.5 percent to EUR0.1110, while Greenthesis marks a minus 2.7 percent to EUR0.88.

Finally, among SMEs, High Quality Food marks a plus 10 percent at the open, with price at EUR1.27 and volume over 78,000 units traded, compared to an atre-month daily average of about 23,300.

Gambero Rosso, on the other hand, rises 7.2%, rebounding after six sessions closed among the bearish.

Friulchem, on the other hand, retreats 3.7 percent, in its fourth session on the bearish side.

In New York on Friday evening, the Dow gave up 0.5 percent, the Nasdaq closed 0.1 percent in the red, and the S&P 500 finished down 0.3 percent.

Among Asian exchanges, the Nikkei left 0.6 percent on the parterre, the Shanghai Composite picked up 0.2 percent, while the Hang Seng is picking up 0.6 percent.

Among currencies, the euro changed hands at USD1.0945 against USD1.0949 at Friday's European equities close. In contrast, the pound is worth USD1.2800 from USD1.2830 on Friday evening.

Among commodities, Brent crude is worth USD77.94 per barrel versus USD77.47 per barrel at Friday's close. Gold, on the other hand, trades at USD1,919.62 an ounce from USD1,935.50 an ounce Friday night.

On Monday's economic calendar, in Europe, the Sentix investor confidence index arrives at 1030 CEST and the Spanish consumer confidence index is also due in the morning.

Overseas, at 1430 CEST in Canada data on building permits are published, while at 1600 CEST it is the turn of U.S. wholesale trade sales.

Among companies listed on the Stock Exchange, no particular events are expected.

By Maurizio Carta, Alliance News reporter

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