The start of the week presented a mixed picture for markets across the Old Continent. Among the major European exchanges, only Milan and Madrid managed slight gains. The FTSE MIB index in Milan edged up by 0.13%, closing at 39,792 points, while the Spanish index recorded a modest increase of 0.16%.
Leading the declines were Amsterdam, which dropped by 0.75%, followed by Frankfurt (-0.51%) and London (-0.43%). Paris also closed in negative territory, shedding 0.33%.
The spread between 10-year Italian BTPs and German Bunds continued its narrowing trend, reaching new lows not seen since 2010. The differential decreased to 87.2 basis points, down from 88 recorded at the close of trading on Friday.
On the currency front, the euro strengthened slightly against the US dollar, trading at 1.176. Gold also saw a minor uptick, rising to $3,287.4 per ounce.
Energy commodities were lower. August delivery gas futures fell by 2.2%, closing at 32.9 euros per megawatt-hour, marking the lowest levels since late April. Oil also experienced a weak day, dipping just under 1% to $65 a barrel.
On the Milan exchange (Piazza Affari), Leonardo (+2.47%) and Iveco (+2.17%) stood out as the top performers. Campari (+1.78%) and BPER (+1.58%) also finished positively. In the banking sector, Mps (+1.52%) and Mediobanca (+0.82%) saw gains.
Conversely, the most significant fall on the main Milan list was Stellantis, which dropped by 3.50%. Sell-offs also affected Prysmian (-1.73%), Pirelli (-1.55%), and Diasorin (-1.28%).
Among mid-capitalization stocks, Fincantieri performed strongly with a leap of 4.61%. It was followed by Danieli (+4.06%), Alerion Clean Power (+3.55%), and Lottomatica (+3.06%). The largest declines in the mid-cap segment were seen in Carel Industries (-4.84%), Ariston Holding (-3.59%), Garofalo Health Care (-3.52%), and Philogen (-2.71%).
Finally, in the sports sector, it was a negative day for football club stocks. Juventus shares fell by 1.34%, while Lazio experienced a minor decrease of 0.25%.