(Alliance News) - On Tuesday, the Mib moved in a bearish trend, taking the point bar to the 36,100 area, with trading rooms continuing to weigh trade tensions and new corporate results that are slowly appearing on stock market calendars.
The 10 percent U.S. tariffs on Chinese goods entered Tuesday, prompting Beijing to announce retaliatory taxes on some U.S. exports, including oil, gas and some cars, as well as an antitrust investigation into Google. Meanwhile, President Trump postponed by a month planned 25 percent tariffs on Mexico and Canada in exchange for measures to curb immigration and drug trafficking at the border.
The FTSE Mib, thus, is giving up 0.3 percent to 36,138.20 points.
In Europe, London's FTSE 100 is giving up 0.3 percent, while Paris' CAC 40 is advancing 0.3 percent and Frankfurt's DAX 40 is advancing 0.1 percent.
Among the smaller lists, the Mid-Cap is giving up 0.2 percent to 49,503.20, the Small-Cap is rising 0.1 percent to 28,608.09, while Italy Growth is in the green 0.3 percent to 7,797.27 points.
On the Mib, STMicroelectronics continues bullish, which is posting a 2.2% gain. Of note, Marshall Wace raised its short position on the stock to 0.61% from 0.51% previously.
Good buys also on Telecom Italia, which is leading the price ahead 1.8 percent, on the heels of the same asset as eve.
Assicurazioni Generali -- in the green by 0.2 percent -- on Tuesday issued a notice regarding its agreement with Natixis Investment Managers, a subsidiary of Groupe BPCE, to create a joint venture in asset management, announced on Jan. 21. As the Lion of Trieste explained in the document, the new company will have EUR1.9 trillion in assets under management, ranking ninth globally and the leader in Europe, with revenues of EUR4.1 billion. The partnership provides for equal control between Generali Investments Holding and NIM, with each partner holding 50 percent of the new company.
Leonardo, meanwhile, is giving up 1.4 percent to EUR30.14 per share, breaking a four-session bullish mini-trend.
Campari, on the other hand, is giving up 1.7 percent, with the aperitif company continuing its buyback plan on a regular basis. Most recently, it announced Monday that between January 29 and 31 it had bought back its own ordinary shares totaling just under EUR270,000.
Mediobanca -- in the red by 0.7 percent -- on Monday reported that as part of its share buyback program, it bought back 464,000 company shares for a total value of about EUR7.3 million.
On the Mid-Cap, Philogen is advancing 3.6 percent, on the heels of Monday's asset close of plus 2.9 percent. The company is continuing steadily with its buyback program, where it most recently announced Monday that it bought back its own ordinary shares between January 28 and 31 for a total consideration of EUR48,000 or so.
Garofalo Health Care, on the other hand, is advancing 0.8 percent to EUR5.36 per share, in its sixth straight session with a bullish candle.
Juventus Football Club - flat at EUR2.38 - on Monday evening announced that it had reached an agreement with Newcastle United Football Club to acquire, on a temporary basis until June 30, 2025, the rights to the sports performance of footballer Kelly Lloyd Casius for a consideration of EUR3 million, plus ancillary charges of EUR800,000.
Sales on Salvatore Ferragamo, which gives up 2.9 percent to EUR7.42 per share, after a 0.8 percent loss on the eve of the meeting. Barclays raised its target price to EUR5.70 from EUR5.60 in the previous session.
Bottom of the list for Intercos, which marks minus 4.0 percent, on the heels of eve's 1.8 percent loss. Worth mentioning that on the stock Jefferies cut the target price to EUR16.00 from the previous EUR16.50.
On the Small-Cap, Softlab advances well, marking a plus 13 percent at EUR0.92 per share, before going into volatility auction.
Bullish movement also for Pininfarina, which marks a plus 2.8 percent after eve's loss of 2.5 percent. The company - which has been missing the ex-dividend since 2005 - is now priced in the EUR0.80 per share area.
At the back of the pack, Somec, on the other hand, gives up 4.4 percent to EUR9.90 per share on the heels of eve's red with 0.5 percent.
Sales--among many--also on Gas Plus, which on falling gas prices is giving up 4.2 percent to EUR2.96.
Among SMEs, buying on Edil Sanfelice, which is advancing 2.8% to EUR4.49 per share, after Monday's 2.9% loss.
Convergenze - in the green by 6.0% - on Tuesday announced its entry into the telephony market as Mobile Virtual Network Operator - MVNO, in partnership with national TLC operator Vianova.
Convergenze will operate on Vodafone's network offering its customers the most advanced technological standards, including 5G and VoLTE, the latter a setting that enables making and receiving voice calls in high definition. The new service - scheduled to be available from the second quarter of 2025 - will be accessible via both physical SIM and eSIM, with preference given to the latter.
Circle - flat at EUR8.08 - reported Tuesday that its subsidiary eXyond has signed an agreement to implement a project to expand and upgrade the terminal's rubber gate access automation system at a Mediterranean port, worth about EUR100,000.
Racing Force - in the green by 4.4 percent - on Tuesday reported consolidated sales figures for the fourth quarter 2024 and the full year. Consolidated revenues for the fourth quarter of 2024 were EUR14.8 million, up significantly from EUR12.8 million in the fourth quarter of 2023, an increase of nearly 16 percent. Consolidated revenues for the year were EUR65.7 million, up EUR3.0 million or 4.8 percent from EUR62.7 million in FY2023.
Giglio.com, on the other hand, is giving up 6.5 percent to EUR1.44 per share, after a 3.4 percent decline on the eve of the meeting.
Almawave, meanwhile, is leaving 4.3 percent on the parterre, objects of profit-taking after four sessions of significant rises.
In New York on Monday evening, the Dow lost 0.3 percent to 44,421.91, the Nasdaq closed 1.2 percent in the red to 19,391.96 while the S&P 500 fell 0.8 percent to 5,994.57.
In Asia, the Nikkei closed up 0.7 percent to 38,798.37,the Shanghai Composite was closed for Chinese New Year and the Hang Seng closed in the green 2.8 percent to 20,789.96.
Among currencies, the euro changed hands at USD1.0325 against USD1.0319 at Monday's European equities close. In contrast, the pound is worth USD1.2414 from USD1.2431 on Monday evening.
Among commodities, Brent crude is worth USD75.16 per barrel from USD75.60 per barrel at Monday's European stock close. Gold trades at USD2,813.28 an ounce from USD2,821.30 an ounce Monday evening.
Tuesday's economic calendar includes from the US, at 1600 CET, the report on durable goods and factory orders, while at 1600 CET will come the report on new jobs Jolts.
At 1700 CET, Bostic of the FOMC will give a speech, while at 1915 CET it will be Daly's turn.
By Maurizio Carta, Alliance News reporter
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