(Alliance News) - On Tuesday, markets continued to recover after the previous session's losses, thanks in part to reports suggesting that the Trump administration is considering a more gradual approach to tariffs, with the idea of gradually increasing them.
Thus, bond yields fell slightly, breaking their recent rise and offering a modest boost to risk assets, with trading rooms preparing the ground for the arrival of the first corporate reports, especially among U.S. banks.
In domestic economic news, Italy's industrial production fell year-on-year in November-for the 22nd month in a row-but accelerated the pace of monthly growth, Istat explained in a note released Tuesday. Italy's statistics office estimates that industrial production rose 0.3 percent compared to 0.1 percent in October on a monthly basis.
On a year-over-year basis -- for the Eurozone's third-largest economy -- the index declined 1.5 percent from the previous month's 3.5 percent drop.
Thus, the FTSE Mib is advancing 0.9 percent to 35,122.71.
In Europe, London's FTSE 100 is moving in the green by 0.1 percent, Frankfurt's DAX 40 is advancing by 0.7 percent, and Paris' CAC 40 is posting a gain of 1.0 percent.
Among the smaller listings, Mid-Cap advances 0.3% to 46,921.92, Small-Cap advances 0.3% to 28,067.51, while Italy Growth is giving up 0.2% to 7,907.75.
On the Mib, A2A advances well, rising 3.0% to EUR2.24 per share, rebounding after four bearish sessions.
Also good session for Pirelli, which moves up 3.0% to EUR5.72 per share. Of note on the stock, Goldman Sachs raised its price to EUR7.10 from the previous EUR6.40 per share.
Iveco, on the other hand, advances 1.0%. Of note, on the stock Marshall Wace filed its short position on the stock down to 1.6% from the previous 1.59%.
UniCredit -- in the green by 1.3% -- is preparing to launch Quantico, a new company dedicated to club deals, in collaboration with the wealth and large corporate division. As Milano Finanza writes Tuesday, the goal is to expand the investment offering for private and ultra-high-net-worth clients, similar to Mediobanca Spa's The Equity Club model.
Banco BPM - in the green by 1.0% - is devising strategies to counter or slow down UniCredit's OPS, banking on a possible relaunch of its takeover bid on Anima Holding - in the green by 0.4% on the Mid - as Milano Finanza writes Tuesday.
Launched in November for EUR1.58 billion - EUR6.2 per share -, the offer saw Anima's stock rise above the offered price, fueling expectations of a rally. Legal sources indicate that a raise could be approved with a simple majority at the ordinary shareholders' meeting, simplifying the process.
In addition to this move, Banco BPM has filed complaints with the Antitrust Authority and Consob, describing UniCredit's OPS as an aggressive strategy to destabilize a competitor. Consob will monitor discussions between UniCredit and Crédit Agricole SA to ensure fairness to shareholders while the Golden Power Committee could intervene within 45 days with restrictions.
Among the few bearers, Nexi is giving up 4.6 percent to EUR4.91, hitting a new 52-week low during the session at EUR4.76 per share. Of note, Morgan Stanley cut its target price on the stock to EUR4.75 from EUR7.15 per share.
On the MidCap, Technoprobe advances 2.7 percent, rebounding after eight bearish sessions.
Strength also on Philogen, which scores a plus 1.6%, breaking a four-session bearish streak.
El.En. - in the green by 0.6 percent--reported Monday the start of its share buyback program, authorized by the April 29 shareholders' meeting. The plan, which began Jan. 13 and will end Oct. 28, calls for the purchase of up to 100,000 ordinary shares, equal to 0.1 percent of the share capital, for a maximum consideration of EUR1.2 million.
Caltagirone, on the other hand, is advancing 1.2 percent, breaking a four-session bearish trend.
d'Amico, on the other hand, is stepping back 2.0%, subject to profit-taking after four sessions closed with bullish candlestick.
Negative note and tail end of the list for Alerion, bearish with 2.8% at EUR15.52. The stock, on the yearly range, marks a loss of more than 41%.
On the SmallCap, Giglio Group - on volatility auction - announced that it has signed a strategic agreement with SpinQ, a global leader in research and production of quantum computers. "This cooperation represents a breakthrough in the technological landscape: for the first time, the potential of quantum computing will be available to companies, universities and researchers around the world through OmniaQuantum, at a consumer price, from today on sale distributed by Giglio Group," reads the company note.
Instead, Il Sole 24 Ore advances 1.7 percent, after two bearish sessions, with new price in the EUR0.61 per share area.
Itway, on the other hand, gives up 3.5 percent to EUR1.14 per share, after two sessions in which it gained more than 21 percent.
Eurotech, on the other hand, steps back 3.3 percent, bringing its price to the EUR0.90 per share area.
Among SMEs, Pharmacosmo advances more than 12 percent to EUR0.85 per share, rebounding after four bearish sessions.
Gibus moves ahead 2.1% to EUR8.86, pending the accounts to be published later today.
CleanBnB is marking a decline of 6.4 percent, after two sessions closed with bullish trends. During 2024 it reported strong growth in its property portfolio, which reached 2,943 units, up 22 percent from 2,422 at the end of 2023. The properties are distributed in more than 100 Italian locations and managed exclusively, mostly under the "FULL package" formula of full management.
Haiki+ marks instead a minus 4.7 percent, with price at EUR0.9249, after two bullish sessions.
In New York, the Dow closed ahead 0.9%, the Nasdaq gave up 0.4%, and the S&P 500 picked up 0.2%.
Among currencies, the euro changed hands at USD1.0257 against USD1.0199 in Monday's European equities close. In contrast, the pound is worth USD1.2182 from USD1.2225 on Monday evening.
Among commodities, boost on oil with Brent crude worth USD80.27 per barrel from USD81.38 per barrel on Monday's European stock close. Gold trades at USD2,666.13 an ounce from USD2,682.65 an ounce Monday evening.
On Tuesday's economic calendar, Overseas in the US, data on the producer price index are expected at 1430 CET.
By Maurizio Carta, Alliance News reporter
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