(Alliance News) - Major European stock exchanges opened the week on a downward trend, as investors' attention focused on political developments.
In France, President Emmanuel Macron accepted the resignation of Prime Minister Sébastien Lecornu, according to a statement from the Élysée Palace, plunging the Eurozone's second-largest economy further into political deadlock.
On the domestic front, Italy's construction sector ended the third quarter on a stable note, supported by a fresh increase in new orders and moderate job growth, according to data released by S&P Global on Monday.
Italy's Construction PMI rose to 49.8 points in September from 47.7 in August, edging closer to the 50.0 threshold that separates contraction from expansion. The result marks the smallest decline in output in three months.
As a result, the FTSE Mib is down 0.6% at 42,985.17 points.
Among smaller listings, the Mid-Cap is down 0.6% at 57,865.79, the Small-Cap is up 0.2% at 37,502.05, and Italy Growth is up 0.9% at 8,754.18.
Paris's CAC 40 is down 0.7%, London's FTSE 100 is losing 0.1%, while Frankfurt's DAX 40 is just above parity.
On the Mib, Stellantis is performing well, rising 2.3% to EUR9.23 per share, marking its fourth consecutive bullish session if confirmed at the close.
Tenaris is also strong, up 1.6% after two bearish sessions.
Moncler is advancing 1.0% to EUR51.52 per share. Notably, Goldman Sachs raised its target price to EUR59.00 from the previous EUR57.00.
Leonardo is up 0.2%. Deutsche Bank has raised its price target on the stock to EUR57.00 from EUR52.00.
On the secondary segment, WIIT is advancing 2.6%, marking its third consecutive bullish session.
Pharmanutra is up 3.4%, also marking its third daily bullish candle.
Anima Holding - flat at EUR4.16 - announced on Friday that Alessandro Melzi d'Eril has resigned as CEO and General Manager with immediate effect to pursue new professional opportunities. He also resigned from the same roles at subsidiary Anima SGR Spa.
At the bottom, Safilo is closing the list down 5.2% after two sessions in positive territory.
On the Small-Cap, Seri Industrial is up 4.1%, marking its fourth consecutive bullish candle.
Fidia is up 3.8%, reversing course after three consecutive losing sessions.
Fiera Milano - up 0.7% - announced on Friday that it had continued its buyback program with the purchase of 45,000 own shares between September 29 and October 1, for a total value of around EUR328,000.
Digital Value is down 2.0%, subject to profit taking after four bullish sessions.
Among SMEs, Doxee is up 7.1% to EUR4.23 per share, after hitting EUR4.35, a new 52-week high.
Lindbergh - up 6.1% - announced Monday it has signed a binding agreement to acquire 100% of the share capital of Alpiclima di Giuseppe Camaglio & C. Srl. The deal was completed through SMIT Srl, a Lindbergh subsidiary, and concerns Alpiclima, a Piedmont-based company specializing in the installation and maintenance of heating, air conditioning, and water treatment systems, serving both the civil and industrial sectors.
Gambero Rosso is up 4.1% to EUR0.2520 after a 7.6% drop in the previous session.
Among the minority of decliners, Lucisano Group is down 6.9%, following a 0.9% decrease in the previous session.
In New York on Friday evening, the Dow Jones gained 0.5%, the Nasdaq fell 0.3%, while the S&P 500 ended just above parity.
In Asia, the Nikkei closed up 4.9%, with the rally triggered by the outcome of the ruling party's internal vote, paving the way for the appointment of parliamentarian Sanae Takaichi - known for her accommodative fiscal stance and support for stimulus policies - as Japan's next prime minister.
Hong Kong's Hang Seng ended down 0.6% while the Shanghai Composite remained closed for a national holiday.
In the currency market, the euro is trading at USD1.1714 from USD1.1738 at Friday's equity close, while the pound is trading at USD1.3439 from USD1.3467 on Friday evening.
Among commodities, Brent is trading at USD65.23 per barrel from USD64.73 per barrel at Friday's close, while gold is worth USD3,926.27 an ounce from USD3,880.25 an ounce Friday evening.
On Monday's economic calendar, while the Chinese stock market remains closed for a national holiday, attention at 10:30 CEST will turn to Eurozone consumer confidence.
At 11:00 CEST, also for the Eurozone, retail sales will be analyzed, and at 19:00 CEST, European Central Bank President Christine Lagarde is scheduled to speak.
From Piazza Affari, nine-month results are expected from CleanBnB.
By Maurizio Carta, Alliance News Reporter
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