(Alliance News) - On Tuesday, major European stock markets ended mixed as, in the background, London hosted key negotiations between the US and China over rare earth exports and a potential easing of restrictions following tariffs imposed by President Donald Trump, who described the UK talks as "complex" despite initial feedback being considered encouraging.
Meanwhile, due to the uncertainty generated by the ongoing trade war, the World Bank revised down its global growth forecasts for 2025: in its latest economic outlook report, the bank lowered its global GDP growth projection to 2.3%, down from the 2.7% anticipated in January.
Axel Rudolph, Senior Technical Analyst at online trading platform IG, commented: "A rebound in small business sentiment and falling US Treasury yields helped US stock indices move slightly into positive territory."
"European equity markets, however, posted a modest decline, despite Italian industrial production growing more than expected. The FTSE 100 was an exception, rising to just shy of its March all-time high, even as jobless claims came in higher than forecast. Slightly lower-than-expected average hourly earnings and an unemployment rate expected at 4.6% satisfied buyers."
The FTSE Mib closed Tuesday down 0.6% at 40,207.57 points, the Mid-Cap just below flat at 54,661.31, the Small-Cap down slightly at 31,491.27, and the Italy Growth index up 0.2% at 8,130.62.
Across Europe, London's FTSE 100 closed up 0.3%, Frankfurt's DAX 40 fell 0.7%, and Paris' CAC 40 ended broadly flat.
On the Milan Stock Exchange, Stellantis led the pack, rising 5.0% after the company announced on Monday, following the close of the Italian labor referendum, that it had begun collective procedures to lay off another 610 workers at Mirafiori ahead of the start of Fiat 500 hybrid production.
Saipem advanced 3.1%, extending its positive run over the past 30 days.
Eni also closed in the green, up 2.4%.
Banca Popolare di Sondrio was among the day's losers, dropping 3.4%, running counter to its positive 30-day trend.
BPER Banca also ended lower, down 3.1%, while Leonardo posted the session's worst performance, falling 6.3%.
Prysmian - up 0.2% - announced Tuesday it had completed the acquisition of Channell Commercial Corporation for a base purchase price of USD950 million, subject to contractual adjustments.
Additionally, Azimut Holding - down 0.8% - reported on Tuesday a net inflow of EUR1.9 billion in May. This brings the year-to-date total to EUR7.6 billion, moving the company closer to its annual target of over EUR10 billion.
On the Mid-Cap, GVS rose 4.0%, in line with its more than 8.0% gain over the past month.
Ariston Holding ended the session up 4.1%, matching the increase posted by Industrie De Nora.
The day's biggest decline came from Alerion, which fell 3.6% to EUR16.46 per share after posting a 7.3% gain over the past month.
Following were Fincantieri, down 3.6%, and Credem, which dropped 2.6%.
On the Small Cap index, Class Editori soared 43%: the stock has climbed 58% in the past month, 46% in the last six months, and 21% over the past year.
Mondo TV closed up 8.7%, continuing its remarkable 237% gain over the last month.
The sharpest drop came from Met.Extra Group, which lost 7.5%.
Among SMEs, E-Globe led with a 27% jump, followed by Eles, up 26%.
At the bottom of the list, the worst performer was Mondo TV France, down 11%.
In New York, the Dow closed up 0.037%, the Nasdaq gained 0.3%, and the S&P 500 finished 0.2% higher.
In currencies, the euro traded at USD1.1426 from USD1.1422, while the pound exchanged at USD1.3514 from USD1.3562 the previous evening.
Among commodities, Brent crude traded at USD67.71 a barrel from USD67.04 at the previous close, while gold was valued at USD3,327.81 an ounce from USD3,328.1 at the last close.
Looking ahead to Wednesday's macroeconomic calendar, at 0515 CEST, European Central Bank President Christine Lagarde is scheduled to speak at an event in China. At 1100 CEST, the German Bundesbank Vice President will deliver remarks, followed at 1130 CEST by Philip R. Lane of the ECB.
From the US, focus will be on mortgage data, due at 1300 CEST, and - above all - consumer price data, set for release at 1430 CEST.
In the afternoon, US crude oil inventory figures will be published, while the Federal Reserve's balance sheet will be released at 2000 CEST.
Among companies listed on the Milan Stock Exchange, results are expected from Homizy.
By Michele Cirulli, Alliance News Reporter
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