(Alliance News) - The Italian stock market closed higher on Tuesday, with the spread between BTPs and Bunds falling further, approaching 100 at the end of trading.

The FTSE Mib closed Tuesday up 0.4% at 40,077.49, the Mid-Cap rose 0.7% to 53,639.38, the Small-Cap gained 0.7% to 30,761.64 and the Italia Growth rose 0.1% to 7,829.55.

In Europe, London's FTSE 100 closed flat, while Paris' CAC 40 rose 0.2%, as did Frankfurt's DAX 40.

On the MIB, Stellantis recorded the sharpest rise on the Piazza Affari's highest capitalization index, with an increase of 4.4%. The car manufacturer thus closed its fourth consecutive session among the gainers.

Banca Monte dei Paschi continued to perform strongly, up 4.2% to EUR8.32 per share. Barclays raised its target price for the stock to EUR7.70 from EUR7.10 per share.

Iveco Group followed with a 3.8% increase after announcing on Tuesday that it had been awarded a contract by the Dutch Ministry of Defense for the supply and logistical support, including maintenance and servicing, of 785 military logistics vehicles in three versions: tractor, rescue, and roll-off container transport.

The vehicles will be delivered between 2027 and 2029, and the contract includes an optional batch of 785 additional vehicles. This marks the continuation of the partnership between Iveco and the Dutch Ministry of Defense, which began with a contract for the supply of 1,283 Manticore vehicles, deliveries of which began at the end of 2023.

Eni - up 1.6% - announced that it has placed a 10-year fixed-rate bond issue in US dollars with a nominal value of USD 1 billion. The company said that the offering met with strong market interest, reaching total demand of approximately USD 5.7 billion from over 200 professional investors.

A2A - down 2.4% - announced on Tuesday that it had reported a net profit of EUR 257 million in the first quarter, down 13% from EUR 294 million in the same period in 2024.

Revenues stood at EUR 3.97 billion, up 16% from 2024, when they stood at EUR 3.43 billion, thanks to the consolidation of Duereti and higher energy commodity prices, as the company explained in a statement.

Buzzi rose 1.3% after closing the first quarter with revenues of EUR 972 million, up 8.7% from EUR 894 million in the same period last year.

In addition, the board approved the issuance of a EUR150 million convertible bond aimed at qualified investors.

At the bottom of the table, Campari performed the worst, down 3.0%.

On the Mid-Cap, Piaggio performed strongly, with its stock rising 7.1%. The company announced on Friday that it closed the first quarter with a net profit of EUR 8.7 million, compared to EUR 18.7 million in the same period last year.

Juventus FC also performed well, up 5.5% after a 1.2% gain the previous day, with the Turin team still in the running for a place in the next Champions League.

CIR - up 2.0% - continues to proceed with its buyback program. Most recently, on Monday, it announced that it had purchased 765,000 ordinary shares between May 5 and 9 for a total value of approximately EUR 460,000.

Newlat Food - up 0.1% - announced on Tuesday that it had signed an exclusive agreement to acquire the Diageo Operations Italy production plant located in Santa Vittoria d'Alba in the province of Cuneo.

Reply lost 2.2%, following the previous day's 2.5% decline. On Monday, the board of directors approved the company's quarterly report, which shows growth in all indicators, starting with consolidated revenues of EUR 603.4 million, up 8.9% from EUR 554.3 million in 2024. Pre-tax profit was EUR 86.9 million, up from EUR 73.1 million in 2024, equal to 14% of revenues.

PharmaNutra fell 2.6% after closing the first quarter with a net profit of EUR 2.4 million compared to EUR 2.6 million as of March 31, 2024.

Revenue rose to EUR 26.8 million from EUR 24.0 million, with sales revenue increasing to EUR 26.4 million from EUR 23.7 billion.

On the Small-Cap market, B&C Speakers gained 3.7% after announcing on Tuesday that it had closed the first quarter with a net profit of EUR 3.5 million, up 6% compared to EUR 3.3 million in the same period last year.

Revenue rose 8.3% to EUR 25.8 million from EUR 23.9 million in the first three months of 2024. The group's order intake remained stable year-on-year at EUR 30.3 million. EBITDA rose 25% to EUR 6.3 million from EUR 5.0 million.

Gefran rose 5.4%, exceeding EUR10 per share, with rising accounts driving the price. On Tuesday, it announced that it had closed the first quarter with a net profit of EUR4.1 million, up from EUR3.8 million as of March 31, 2024. Revenues for the three months stood at EUR 36.4 million, up from EUR 34.2 million in 2024.

Fiera Milano lost 0.5%. The company closed the first quarter with a loss of EUR 3.2 million, compared with a net profit of EUR 7.6 million in the same period last year.

Revenues fell to EUR 63.7 million from EUR 72.4 million but were higher than the EUR 48.1 million in the first quarter of 2023, the last comparable year in terms of calendar seasonality.

Further down the field, Gabetti lost 5.9%, subject to profit taking after a bullish run and a positive balance of over 20% since the beginning of the year.

Among SMEs, Unidata rose 2.5% after reporting on Tuesday that it had recorded total revenues of EUR 25.5 million in the first quarter, broadly in line with the EUR 25.3 million reported in the first quarter of 2024.

EBITDA rose to EUR 7.3 million from EUR 7.0 million, with a margin of 29% compared to 28% in 2024.

Deodato.Gallery rose 3.2%, continuing its upward trend and bringing the share price to EUR0.32 each.

Ambromobiliare rebounded with a 3.6% gain after a negative start.

In New York, the Dow is down 0.4% to 42,239.16, the Nasdaq is up 1.5% to 18,987.39, and the S&P 500 is up 0.8% to 5,889.67.

Among currencies, the euro is trading at USD 1.1166 from USD 1.1121 on Monday evening, while the pound is trading at USD 1.3269 from USD 1.3210 on Monday evening.

Among commodities, Brent crude traded at USD 65.86 per barrel from USD 65.84 per barrel on Monday evening, while gold traded at USD 3,244.67 from USD 3,245.59 per ounce yesterday evening.

Wednesday's economic calendar opens with German inflation data at 0800 CEST, while a speech by Federal Reserve's Waller is expected at 1115 CEST.

At 1:00 p.m. CEST, the US will release its mortgage market report. At the same time, the OPEC report will also be released.

At 4:30 p.m. CEST, the focus will be on US crude oil inventory data, while in the evening, at 11:40 p.m. CEST, Daly of the FOMC will deliver a speech.

The corporate calendar for the Italian stock exchange includes the results of Acea, Cairo Communication, Centrale Del Latte, Rai Way, Revo Insurance, Salvatore Ferragamo, and Webuild, among others.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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