(Alliance News) - Stock markets opened higher on Monday in the aftermath of the elections in France. Marine Le Pen's National Rally was expected to win the first round, as widely predicted. However, exit polls suggested that the far-right party would lead by a smaller margin than expected, while the final outcome remains highly uncertain ahead of next week's runoff.

On the monetary policy front, ECB Governing Council member Olli Rehn indicated last week that the central bank could lower interest rates two more times this year.

As a result, the FTSE Mib opened up 1.8 percent to 33,763.52 points.

In Europe, London's FTSE 100 is advancing 0.5 percent, Paris' CAC 40 is up 2.5 percent, and Frankfurt's DAX 40 is marking a 0.8 percent green.

Among the smaller lists, the Mid-Cap opened up 1.2 percent to 47,399, 52, the Small-Cap is advancing 1.1 percent to 28,990.08, while Italy Growth is advancing 0.2 percent to 8,132.70.

On the Mib, good start for the banking sector, with Banca Monte dei Paschi advancing 5.1 percent to EUR4.61 per share, following a 0.9 percent green light on Friday evening.

Strength also on BPER Banca, which moves up 4.9%, rearing its head after two sessions closed with bearish candles.

For UniCredit, on the other hand, the rise is 3.4%, on the heels of Friday's gain, albeit a modest 0.1%.

Tenaris - up 0.8 percent - reported the purchase of 4.6 million shares that took place between June 24 and June 28. The shares were taken over at an average price of EUR14.3237 for a total value of EUR66.1 million.

Banca Mediolanum -- up 2.4 percent -- reported Friday that it bought back 333,000 of its own ordinary shares between June 24 and June 28. The shares were taken over at an average unit price of EUR10.5582, for a total value of EUR3.5 million.

Terna, on the other hand, advances 1.0 percent. Of note, Goldman Sachs cut the targte price to EUR7.60 from EUR7.95 per share, with the recommendation changed to 'sell' from 'neutral'.

On the Mid-Cap, Fincantieri advances 2.6 percent, after 0.2 percent red in the previous session.

For OVS, on the other hand, the rise is 2.7 percent, after 5.6 percent red in the previous session.

Banca Ifis - up 2.4 percent - announced Friday that it had successfully concluded the restructuring of a securitization worth EUR1.2 billion involving proprietary factoring receivables.

Juventus Football Club - in the green by 0.9% - disclosed that it had reached an agreement with Aston Villa Football Club for the outright acquisition of the rights to the sports performance of footballer Douglas Luiz Soares de Paulo for a consideration of EUR50 million, payable in four fiscal years, plus ancillary charges of EUR1.5 million.

Among the few bearish, d'Amico is giving up 0.8 percent, after three sessions closed with bullish candle in which ga garnered an aggregate of 12 percent,

On the Small-Cap, Fiera Milano is advancing well, posting a plus 4.5% after a 0.3% decline in the previous session.

Good purchases also on Newlat, which marks a plus 3.6% to EUR12.70 per share after Friday night's loss of 3.9%.

BasicNet - down 0.6 percent - at EUR3.43 made it known Friday that between June 24 and June 28 it bought 22,200 of its own shares for a total value of EUR78,000 or so.

Mittel - up 0.6 percent - on Monday announced that it had signed, through its subsidiary Italian Bathroom Design Group, a binding preliminary agreement regarding the purchase of 100 percent of Ceramica Catalano. This provides for a purchase price for 100 percent from Catalano's share capital of EUR92.0 million, with an expected execution date by September 2024.

In contrast, among SMEs, Arterra advances 4.6 percent to EUR2.30 per share, on its sixth session with a bullish candle.

Porto Aviation Group -- flat at EUR4.20 -- announced Friday that it will kick off its ERU300,000 buyback program, which has already been approved by shareholders. The company aims to buy back no more than 35,000 of its own ordinary shares between July 1 and no later than October 5, 2025.

UCapital24 -- down 4.1 percent -- informed that on Friday evening the extraordinary shareholders' meeting unanimously approved the merger of Swisstech Consulting into UCapital24.

In New York on Friday, the Dow closed in the red by 0.1 percent, the Nasdaq gave up 0.7 percent, and the S&P fell 0.4 percent.

In Asia, the Shanghai Composite advanced 0.9 percent, while the Nikkei picked up 0.1 percent. The Hong Kong Stock Exchange, however, remained closed for "Special Administrative Region Foundation Day."

Among currencies, the euro changed hands to USD1.0757 from USD1.0710 in Friday's European stock close while the pound was worth USD1.2872 from USD1.2637 on Friday evening.

Among commodities, Brent crude is trading at USD85.64 per barrel from USD86.26 per barrel at Friday's close. Gold, on the other hand, trades at USD2,325.00 an ounce from USD2,330.60 on Friday evening.

Monday's economic calendar features the manufacturing PMI from Italy, France, Germany, the Eurozone and the UK, due between 0915 CEST and 1030 CEST.

From Germany, eyes will be on inflation, due at 1000 CEST, while data on credit to individuals in the UK will arrive half an hour later.

From the US, coming up on the manufacturing PMI, at 1600 CEST, while two short-dated T-Note auctions will be held, at 1730 CEST.

Among the companies in the Square of Business, no particular events are scheduled.

By Maurizio Carta, Alliance News reporter

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