(Alliance News) - The Mib closed bearish Tuesday just above the 33,300 area, following declines in other major European indexes. The weight of geopolitical concerns, particularly the escalation of the war in Ukraine, weighed on investor sentiment.

Putin's approval of a new "nuclear doctrine," expanding the conditions for the use of atomic weapons, further fueled fears of an escalation of the conflict. This, combined with the U.S. decision to grant Ukraine permission to launch long-range missile strikes on Russian territory, has increased the risk of instability.

Thus, the FTSE Mib closed down 1.3 percent to 33,324.73, the Mid-Cap gave up 0.8 percent to 46,502.58, the Small-Cap was fractionally in the green at 26,998.93, and Italy Growth closed giving up 0.3 percent to 7,750.33.

In Europe, London's FTSE 100 gave up 0.2 percent, while Paris' CAC 40 left 0.7 percent on the parterre as did Frankfurt's DAX 40.

On the Mib, strength on Leonardo, which closed bullish by 1.4 percent at EUR25.22 per share, in its second bullish session after a four-session bearish streak driven by the risk of further escalation in the Russian-Ukrainian issue.

Hera, on the other hand, rallied 0.5 percent to EUR3.39 per share, rearing its head after two bearish sessions.

Enel closed the session down 0.8 percent to EUR6.64 per share. On the stock Goldman cut its target price to EUR9.00 from EUR9.20 with a 'buy' recommendation.

FinecoBank, on the other hand, closed the session down 3.6 percent to EUR14.47 per share. Of note, JPMorgan cut its target price to EUR17.10 from EUR17.20 with 'overweight' title.

On the cadet segment, Digital Value rallied 1.9%, in its third bullish session.

Cembre also had a good session, closing in the green by 2.2%, threading its fourth bullish candle session in a row.

Carel Industries, on the other hand, closed by giving up 6.6 percent, following Monday night's 3.9 percent green.

For Salvatore Ferragamo, on the other hand, the red was 4.8 percent to EUR5.88 per share, after a 1.0 percent gain on the eve of the session.

Safilo Group -- down 1.5 percent -- announced Tuesday that it had bought 400,000 shares in the company between Nov. 11 and 15 for a total value of EUR370,000 or so. As a result of these purchases, the company holds 10.6 million ordinary shares of Safilo Group, or about 2.6 percent of the outstanding shares.

On the Small-Cap, good purchases on Seri Industrial, which closed bullish by 7.8 percent on the heels of the previous session's gain that closed with a plus 6.9 percent.

Seco, on the other hand, rallied 4.8 percent to EUR1.64, following the previous session's 2.4 percent green.

FNM, on the other hand, picked up 1.6 percent. The company approved its plan to 2029. The plan targets revenue growth from EUR618.0 million in 2024 to EUR850.0 million in 2029 and Ebitda of EUR320.0 million, and average annual net income of EUR60-65 million. The company plans to maintain a sound financial structure, ensuring a dividend per share between 2.3 and 3.2 cents, with a dividend yield between 5.2 percent and 7.2 percent.

Great Journeys closed bearish by 4.1 percent, after the previous session's 7.3 percent green.

Among SMEs, GM Leather brought home a plus 7.9%, ringing up its third bullish session.

Edil San Felice -- in the green by 3.1 percent -- reported Tuesday that the RTI formed by Fenix Consorzio Stabile Scarl -- of which Edil San Felice is a member -- and AVR Spa, has been awarded a contract worth a total of EUR40.5 million, of which EUR24.3 million is the company's direct responsibility. The assignment, part of a four-year framework agreement, calls for extraordinary maintenance work on the A14 Bologna-Taranto freeway, along the section managed by the Pescara 7th Stretch Directorate.

Reway Group -- in the red by 0.3 percent -- on Tuesday reported that its subsidiary Gema has been awarded a new contract worth about EUR39 million for infrastructure upgrading and extraordinary maintenance works on a bridge located in Pavia on the Milan-Genoa railway line. In detail, the works, awarded by Rete Ferroviaria Italiana (RFI), will last for 2 years, with start-up scheduled for March 2025.

In New York, the Dow is giving up 0.3 percent, the Nasdaq is advancing 0.4 percent, and the S&P 500 is stepping up 0.2 percent.

Among currencies, the euro changes hands at USD1.0586 from USD1.0569 in Monday's European stock close. The pound is worth USD1.2674 versus USD1.2645 on Monday evening.

Among commodities, Brent crude is worth USD72.89 per barrel from USD72.98 per barrel Monday night. Gold trades at USD2,624.82 an ounce from USD2,610.93 an ounce on Monday evening.

On Wednesday's macroeconomic calendar, coming in at 0050 CET from Japan is the trade balance, while at 0800 CET from the UK will be the CPI figure. From Germany, on the other hand, the producer price index figure will arrive at the same time.

At 1100 CET, space will be given to the Eurozone construction output report.

From the U.S., at 1300 CET, coming up is the mortgage report. At 1400 CET, on the other hand, the ECB's number one, Christine Lagarde, will speak.

At 1630 CET, from the US, the Cushing inventory report and EIA weekly stocks.

Among companies, MFE-MediaForEurope will release its nine-month results.

By Maurizio Carta, Alliance News reporter

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