In macroeconomic news, Eurozone retail sales decreased 2.7 percent month on month in December, the most since April 2021, after increasing 1.2 percent in November, indicating that rising prices and interest rates are weighing on consumer spending.

The calendar-adjusted retail sales index declined 2.8 percent in the eurozone and 2.5 percent in the EU in December 2022 compared to December 2021.

In the construction sector, the Eurozone PMI index improved to 46.1 in January from 42.6 in December, indicating an uptick in construction activity, but it remains below 50.0, signifying contraction, according to data issued Monday by S&P Global.

In early 2023, Italy’s construction sector continued to shrink. Total activity and new orders both fell in January, according to statistics collected, owing to sluggish demand and the current uncertainty surrounding the government’s superbonus scheme.

Thus, S&P Global’s PMI index for the Italian construction sector—which tracks month-over-month changes in total industrial output—remained below the neutral no-change threshold of 50.0 in January for the second month in a row, reading at 48.2 in January, up from 47.0 in December.

Telecom Italia performed the best on the Mib, rising 2.0 percent. The company said last week that its board of directors will meet on February 24 to vote on KKR’s non-binding offer for NetCo.

Intesa Sanpaolo also performed well, rising 1.4 percent. The board of directors approved the operations and consolidated results for the fiscal year ended December 31, which finished with net interest-driven profit of EUR5.5 billion, excluding Russia/Ukraine de-risking, on Friday. In the second half of 2022, the group’s exposure to Russia was decreased by 68 percent – around EUR2.5 billion – to less than 0.3 percent of total client loans.

Azimut Holding has a 0.8 percent loss. The company stated on Friday that it will be the lead investor in Capitual’s EUR15.0 million capital increase to assist its international expansion.

Anima Holding falls 0.3 percent on the Mid-Cap after revealing on Monday that the group’s net inflows of assets under management excluding Branch I insurance proxies were positive in January 2023, totaling EUR34.0 million.

The group’s total assets under management so were at more than EUR182.43 billion at the end of January, down from EUR201.70 billion on January 31, 2022.

Acea is up 0.2 percent after stating Friday that it has completed the reopening of the EUR200 million Green-format bond offering launched on January 17, 2023 – rate 3.875 percent, maturity January 24, 2031.

Webuild loses 0.3 percent. It said on Friday that it has signed a contract to buy Clough, acquiring a EUR4 billion backlog and securing 1,100 jobs.

Tesselis is down 1.8 percent on the Small-Cap after announcing Friday evening the resignation of Cristiana Procopio and Alberto Trondoli as corporate directors, effective Feb. 1, for personal reasons.

Risanamento, which is down 1.4 percent, revealed on Thursday that it has seen its early results for 2022, which showed a net loss of EUR53.8 million, up from EUR24.9 million in the same period last year.

ErreDue is up 1.7 percent among SMEs. It said on Friday that it has signed a deal to build a 750 mc/H hyperpure nitrogen plant with a company that is “among the most prominent institutions, nationally and internationally,” in the metallurgy sector.

The sales contract, worth approximately EUR900,000.

Eles is up 9.4 percent after stating Friday that the EUR6.5 million capital raise, which will be carried out through the issue of 3.8 million new shares at a unit price of EUR1.70 and was approved by the board on Thursday, has been fully subscribed.

Growens increases by 4.3 percent. On Friday, the board of directors approved the signing of a binding agreement for the sale of Growens’ MailUp business unit, as well as its holdings in Contactlab Spa, Acumbamail SL, MailUp Nordics A/S, and its subsidiary Globase International Aps, to TeamSystem Spa for a total cash/debt free consideration of EUR70 million.

Nusco enters a volatility auction after increasing more than 15%. According to the corporation, consolidated pre-consolidated revenues as of December 31, 2022 are roughly EUR50.8 million. As of December 31, 2022, the order backlog was EUR10.5 million.

Doxee is still not a trader. Simest, a CDP group firm that assists the internationalisation of Italian enterprises, stated on Friday that it has entered the share capital of its Austrian subsidiary Doxee CEE GmbH with a 42 percent minority position.

In New York, the Dow Jones fell 0.4 percent to 33,926.01, the S&P rose 1.0 percent to 4,136.48, and the Nasdaq climbed 1.6 percent to 12,006.96.

Among currencies, the euro traded at USD1.0760 vs USD1.0833 at the close on Friday. In comparison, the pound is now worth USD1.2024 as opposed to USD1.2071 on Friday evening.

Brent crude is valued USD80.81 per barrel, up from USD81.14 per barrel Friday night. Gold, on the other hand, is trading at USD1,885.50 per ounce, down from USD1,867.23 at Friday’s closing.

On Monday’s macroeconomic calendar, a three-month Treasury bond auction from the United States is scheduled for the afternoon at 1730 CET.