(Alliance News) - The Mib moves lower Tuesday, slipping for the second consecutive session. Investors weighed in on President-elect Donald Trump's promise to impose a 25 percent tariff on imports from Canada and Mexico, as well as an additional 10 percent tariff on imports from China when he takes office next year.

These proposed measures have raised concerns about the incoming administration's potential impact on global trade, with automotive stocks ranking at the bottom of the Milan list.

Thus, the FTSE Mib gives up 0.6 percent to 33,215.74. Among the smaller lists, the Mid-Cap is giving up 0.6 percent to 46,962.73, the Small-Cap is in the red 0.3 percent to 26,894.52, and Italy Growth is traveling in the red 0.2 percent to 7,713.68.

In Europe, London's FTSE 100 gives up 0.4 percent, Paris' CAC 40 is in the red 0.7 percent, and Frankfurt's DAX 40 is down 0.6 percent.

On the Mib, good session for Banca Monte Paschi di Siena, in the green by 2.3%at EUR5.9 per share, rearing its head after two bearish sessions.

Strength also on Saipem, which is leading the price up 2.9 percent, taking the lead on the list after eve's red 1.2 percent.

Purchases continue on Banco BPM - up 0.9% - after UniCredit - down 0.1% - announced yesterday a EUR10.1 billion voluntary public exchange offer on its stock.

Snam, on the other hand, rises 0.7%. The company reported that Borsa Italiana accepted on the MOT Professional segment the GBP600 million 12-year and EUR750 million 7-year dual tranche Sustainability-Linked bond issue. On the stock it is mentioned that Beremberg has increased the target price to EUR4.80 from EUR4.60.

Fear of tariffs announced by President-elect Trump, push down the automotive sector. At the bottom of the main list, Stellantis gives up 4.6 percent, followed by Pirelli, down 3.9 percent, and Iveco Group, down 0.8 percent.

On the Mid-Cap, among the few bullish El.En. is picking up 2.3 percent, breaking three-session declines.

Alerion, meanwhile, is advancing 1.0% to EUR17.06 per share, in its third bullish session.

Webuild -- down 0.4 percent -- acquired 13 percent of Eurolink, the consortium in charge of building the Strait of Messina Bridge, adding this stake to the 45 percent it already held. As Il Fatto Quotidiano writes Tuesday, the stake, which was sold by Ravenna-based Cooperativa Cmc, was acquired for EUR11.3 million, assuming EUR14.6 million in debt.

Ariston Holding, on the other hand, is stepping back 5.9 percent to EUR3.43 per share. The stock during the session updated a new 52-week low at EUR3.31.

On the Small-Cap, strength on Aquafil, which brings the price up 7.3 percent, after eve's 2.0 percent loss.

Fidia - a stock suspended with a theoretical rise of 23 percent - has called a shareholders' meeting for Dec. 27, with some appointments and a proxy to the board for a EUR5.0 million capital increase on the agenda, Milano Finanza explained Tuesday. After years of crisis that culminated in 2022 with a resort to composition with creditors and a financing agreement with the Dubai-based Negma fund, Fidia is now working on a relaunch under the leadership of executive chairman Luigi Maniglio, having completed payments to creditors.

Landi Renzo is doing well, up 1.2 percent. The company, as Milano Finanza explained Tuesday, kicked off a EUR25.0 million capital increase under option to shareholders, marking the start of a financial revitalization plan that includes a second EUR20.0 million recapitalization reserved for Invitalia. In Monday's session, the stock had advanced 7.7 percent.

Softlab is closing down more than 11 percent at EUR0.72, a new low in the 52-week frame.

Among SMEs, Innovatec - in the green by 5.2% - signaled that it expects to close the 2024 fiscal year with a consolidated production value in the range of EUR232-240 million from EUR215 million in 2023; Ebitda in the range of EUR30-33 million from EUR28.8 million in 2023; and a margin at around 14% from 13.4% in 2023.

Allcore advances 4.9%, in position to close its third session in a row with bullish candle.

Circle--declining 0.8 percent--on Tuesday announced the participation of its subsidiary Magellan Circle in the AI4COPSEC project, an initiative, coordinated by Simula Research Laboratory, that aims to revolutionize maritime surveillance and environmental crisis response using advanced artificial intelligence technologies and satellite data. As a consortium, Magellan Circle will receive a grant of EUR272,500, supporting its specialized expertise in science communication and outreach activities at the European level.

First Capital-flat at EUR15.70 per share-reported Monday that subsidiary First SICAF has increased its stake in CY4Gate to 5.3 percent of the latter's capital. The initial investment in CY4Gate dates back to the company's IPO in 2020, increased in a capital increase in 2022, and most recently through block purchases.

In New York on European night, the Dow rallied 1.0 percent, while the Nasdaq advanced 0.3 percent as did the S&P 500.

Among currencies, the euro changed hands at USD1.0518 from USD1.0487 in Monday's European stock close. The pound is worth USD1.2588 versus USD1.2560 on Monday evening.

Among commodities, Brent crude is worth USD73.70 per barrel from USD73.47 per barrel last night. Gold trades at USD2,630.15 an ounce from USD2,638.58 an ounce Monday night.

On Tuesday's macroeconomic calendar at 1400 CET is the US housing market report, followed at 1600 CET by the consumer confidence report.

At 2000 CET, coming up are the Federal Reserve minutes while at 2230 CET it will be the turn of weekly oil stocks.

By Maurizio Carta, Alliance News reporter

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