Lightweight hiking rope
Purchased this as a confidence rope for scrambling and also a rescue rope for hiking. It'll be in my kit bag on a trip to the Dolomites in September too.
It's a bit small for a belay device but will work on an Italian hitch just fine in an emergency.
Does exactly what you want it to do
Extremely light (so great for hiking) and very durable, will spot you without a worry on light glacier walks or rock scrambling. Can also be relied upon in emergency situations (e.g. if a belay is needed). Good value for money.