(Alliance News) - European stock exchanges continue to lose ground in mid-session Monday, with Piazza Affari giving up less than other continental realities but still showing weakness on the day when several listed companies drop their coupons.

The FTSE Mib is down 0.1 percent to 27,827.88, the Mid-Cap gives up 0.7 percent to 43,483.74, the Small-Cap loses 0.1 percent to 27,582.92, and Italy Growth flexes 0.2 percent to 9,106.46.

In Europe, London's FTSE 100 is down 0.3 percent to 7,621.10, Paris' CAC 40 is down 0.5 percent to 7,353.07, and Frankfurt's DAX 40 is in the red 0.5 percent to 16,276.35.

On the highest-capitalization basket in Piazza Affari, all banks do well at the start, with Monte dei Paschi doing best of all and rising 2.0 percent.

Pirelli & C. gives up 1.0% at mid-session after reporting that the Italian Council of Ministers exercised Golden Power in relation to the rumored Chinese takeover in the tire group.

The Council of Ministers, in adopting the measure, considered, among other things, that Pirelli's relevant technology represents a part of Pirelli's economic activity and the risks related to it require structural safeguards that disregard the temporariness of the shareholders' agreement, as well as that any change in Pirelli's corporate governance, including the non-renewal or stipulation of the shareholders' agreement, must be subject to notification, as explained by the company.

In detail, CNRC must abide by the commitment not to engage in management and coordination activities as detailed below, by way of example but not limited to; commit that the CEO of Pirelli, drawn from the majority list, will be designated by Camfin and that, consequently, out of 12 directors of Pirelli, drawn from the majority list, four will be designated by Camfin; undertake to see to it that the position of general manager, to whom the power to implement Pirelli's business plan, budget and ordinary management is delegated, is introduced; undertake to see to it that all of Pirelli's managing bodies are identified exclusively from among the directors designated by Camfin.

A2A's board of directors - down 0.8 percent - passed a framework resolution authorizing the issuance, by April 30, 2026, of one or more unsubordinated, unsecured and non-convertible bonds up to a total maximum of EUR1.65 billion from its EMTN program - established in 2012 - whose total maximum amount will be increased to EUR7 billion from EUR6 billion.

UniCredit gains 1.6 percent after announcing Thursday that it intends to support Nusco, a company active in the production and marketing of interior doors and frames made of wood, PVC, aluminum and iron under the "Nusco" brand, listed on the Euronext Growth Milan market, with two loans totaling EUR2.5 million, guaranteed by SACE.

ERG gives up 0.2 percent after it reported on Friday that it has been promoted by MSCI Inc. a leading ESG corporate performance research company to the "AAA" rating, an improvement from its "AA" rating in 2022, putting it in the "Leader" category.

On the Mid-Cap, Juventus Football Club - up 0.8 percent - reported that Tottenham Hotspur FC has exercised its option right to permanently take over Dejan Kulusevki.

The Bianconeri will receive EUR30 million, payable over six financial years, for a capital gain to Juventus' coffers of EUR12.8 million.

Sesa rises 0.5 percent, after announcing Monday that it closed the year to April 30 with consolidated revenues and other income of about EUR2.9 million according to preliminary data, up 21 percent annually from EUR2.4 million as of April 30, 2022.

Maire gives up 1.0 percent after announcing Thursday its participation in Euronext Tech Leaders, the new initiative dedicated to leading, high-growth Tech companies developed by Euronext, the leading pan-European market infrastructure that manages the regulated stock exchanges of Belgium, France, Ireland, Italy, Norway, the Netherlands and Portugal.

Tamburi Investment Partners - up 0.4 percent - announced Thursday that it had sold a 3.98 percent stake in Azimut-Benetti.

ENAV - in the red by 0.4 percent - announced Thursday that through its subsidiary IDS AirNav - a leading international company in aviation information management systems and flight procedure design - it has signed a contract with ANS CZ, the service provider for air traffic control in the Czech Republic.

On the Small-Cap, Softlab rallies 1.6 percent after letting it be known on Friday that Daniele Lembo has resigned from his position as director and managing director and from other corporate positions held within Group companies, for personal reasons also related to the opportunity to evaluate and undertake new professional paths.

Zucchi's board of directors -- up 1.7 percent -- on Wednesday approved the interim report for the year ended March 31, having reported a profit of EUR1.9 million from EUR2.1 million in the same period last year.

Somec rises 1.3 percent. On Friday, it reported that its U.S. subsidiary Fabbrica was awarded a new contract for a 34-story building in New York City. The contract is valued at more than USD23 million and consists of the design, manufacture, and installation of more than 12,000 square meters of custom curtain walling intended for a new building that will rise on Ninth Avenue, an artery on Manhattan's West Side, a few blocks from Madison Square Garden and the Empire State Building.

Among SMEs, Relatech -- which rises 0.4 percent -- announced Friday that it had entered into binding agreements aimed at acquiring the remaining 40 percent of Sigla Group's share capital, for a total of EUR715,000.

The board of directors of GO internet - up 6.0 percent - approved Friday the new business plan 2023-2027 drafted in line and continuity with the previous Plan approved on June 8, 2020.

The plan forecast revenues between EUR15.5 and EUR16.5 million, Ebitda between EUR2.5 million and EUR3.0 million, Ebitda margin between 17 percent and 18 percent, and a negative Net Financial Position between EUR2.8 and EUR2.0 million.

Alfonsino - up 0.3 percent - announced on Monday that it had reached a partnership agreement with SIDI Piccolo, a historic family-owned business associated with the VéGé group and active in the large-scale retail sector under the Supermercati Piccolo banner, for fast home grocery delivery, further extending the scope of operations of the Groceries business unit.

"The partnership is part of the process of diversification of the offer undertaken by Alfonsino and will allow the large-scale retail chain-owner of 18 stores in Campania-to better position itself in the "Quick-Commerce" market, allowing users to do their shopping directly in-app, and then receive it conveniently at home within an hour," the company explained in a note.

In Asia, the Nikkei closed down 1.0 percent to 33,370.42, the Shanghai Composite gave up 0.5 percent to 3,255.81, and the Hang Seng lost 0.6 percent to 19,912.89.

In New York, the Dow closed Friday down 0.3 percent to 34,299.12, the Nasdaq lost 0.7 percent to 13,689.57 while and the S&P 500 gave up 0.4 percent to 4,409.59.

Among currencies, the euro changed hands at USD1.0921 against USD1.0923 on Friday in closing European equities. In contrast, the pound is worth USD1.2812 from USD1.2808 on Friday evening.

Among commodities, Brent crude is worth USD76.41 per barrel versus USD75.78 per barrel at Friday's close. Gold, on the other hand, trades at USD1,955.70 an ounce from USD1,957.42 an ounce Friday night.

Monday afternoon's macroeconomic calendar features a number of Canadian macros at 1430 CEST, including the industrial and commodity price index.

At 1455 CEST, French BTF auctions will be held.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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