(Alliance News) - European stock markets are set to open higher on Tuesday, continuing their rally towards new all-time highs, as investors have largely set aside geopolitical concerns following the U.S. attack on Venezuela over the weekend. On Monday, European exchanges closed higher, driven by gains in defense, technology, and mining stocks.
Market attention now shifts to upcoming U.S. labor market data and any further guidance from Federal Reserve officials, as markets continue to price in additional U.S. interest rate cuts later in the year.
In Europe, focus is on inflation readings from France and Germany, as well as PMI indices from across the region.
Thus, after closing up 1.0% at 45,847.32 points last night, the Mib is advancing by 137.50 points.
The CAC 40 is up by 7.90 points, the DAX 40 is rising by 54.90 points, while the FTSE 100 is in the green by 36.70 points.
Among the minor indices, the Mid-Cap gained 0.9% to 59,488.58, the Small-Cap posted a positive performance of 1.1% to 37,350.27, and Italy Growth rose by 0.4% to 8,814.46 points last night.
Yesterday, Banco BPM ended at the bottom of the basket with a drop of 1.7%, and Montepaschi was down 1.1%. For both, the key week will be the third week of January, with two dates to remember: the 20th and the 22nd. On those days, the renewal of the boards of the two banks—still at the center of Italian banking consolidation—will take place. These will clearly be more than just formal appointments.
Exor, Piero Ferrari, and the Piero Ferrari Trust have renewed their shareholders' agreement on Ferrari, which rose 1.6%, confirming their strategic alignment on the Prancing Horse. The new pact will last three years until 2029 and will be automatically renewable.
The agreement secures about 32% of the capital and 48% of voting rights: Exor holds 21.2% of the capital and 32.2% of the votes, while Piero Ferrari owns 10.6% of the capital and 16% of the voting rights.
Strong buying on Tenaris, which recently completed a EUR55 million buyback, closed up by 4.6%.
Defense stocks were again in demand, with Leonardo leading the way, up 6.3% to EUR54.42 per share, and Fincantieri gaining 4.5% to EUR18.45 per share.
Brunello Cucinelli, which ended down 1.9%, announced that Progetto Novantuno, belonging to Cucinelli's co-Chief Financial Officer, sold 9,000 ordinary shares of the company at an average unit price of EUR98.0668, for a total value of EUR882,601.20.
On the Mid-Cap, Bernstein upgraded Pirelli—up 0.9%—to 'outperform' from 'market perform'.
Ariston, which continued its buyback program with the purchase of 25,000 own shares, ended the session down 1.0%.
Avio topped the list with gains of 9.0% to EUR32.65, in line with the positive trend for defense stocks and following the removal of Maduro in Venezuela and the general sense of geopolitical fragility.
Comer Industries, after acquiring BU Hydraulic Equipment from Nabtesco, rose 5.2% to EUR48.80 per share.
Juventus Football Club, following sanctions—albeit reduced—by Consob for company members and former executives, closed the session down 3.4%.
Among small caps, OPS eCom announced it had sold its stakes in Giglio Shanghai Technology CO, Media 360 HK, and Salotto di Brera. The shares were sold to Alfonso Apicella at a nominal value of EUR4,000.
The sale resulted in a capital loss of about EUR100,000, with the stock dropping 1.7% to EUR0.118 per share.
Tessellis fell 8.1%, ending at the bottom of the list; the best performers were again Beewize, up 5.9%, and Aeffe, gaining 7.3%.
Among SMEs, Circle Group secured a EUR250,000 order from a major national logistics operator for technological advancement and automation of two lanes with Totem for remote management at a multipurpose terminal in a Mediterranean port. The stock benefited, rising 0.5%.
TraWell Co—up 2.5%—announced it had won a new concession to provide its services at Bologna "Guglielmo Marconi" International Airport, which was down 1.5%.
Bologna airport is one of the most dynamic hubs in the Italian airport system. In 2024, it registered traffic exceeding 9 million passengers, confirming a structurally growing trend driven by both leisure and business demand.
Farmacosmo saw strong buying, up 15%, and UCapital24 also posted double-digit gains, rising 34%.
In New York, during the European evening, the Dow Jones closed up 1.2%, the Nasdaq was up 0.7%, and the S&P 500 gained 0.6%.
Among Asian exchanges, the Nikkei advanced 1.3%, the Shanghai Composite is up 1.5%, and the Hang Seng is also rising by 1.5%.
On the currency front, the euro is trading at USD1.1741 from USD1.1710 at Monday's European equity close, while the pound is trading at USD1.3563 from USD1.3511 last night.
Among commodities, Brent is trading at USD61.50 per barrel from USD61.60 per barrel at Monday's European market close, while gold is valued at USD4,469.95 an ounce from USD4,444.67 an ounce last night.
On Tuesday's economic calendar, Italian services PMI is published at 0945 CET, while Germany's is at 0955 CET. The eurozone composite services index is expected at 1000 CET, and the U.S. reading is scheduled for 1545 CET.
No significant announcements are expected at Piazza Affari.
By Maurizio Carta, Alliance News Reporter
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