(Alliance News) - On Tuesday, major European indexes closed in positive territory on a day when global risk on sentiment helped equity indexes boost gains, while eyes are already on U.S. inflation data due tomorrow.
Thus, the FTSE Mib closed up 0.7 percent to 28,061.59, the Mid-Cap up 0.5 percent to 42,462.27, the Small-Cap in the red 0.1 percent to 26,693.66 as Italy Growth at 9,072.24.
In Europe, London's FTSE 100 ends up 0.1 percent, Paris' CAC 40 rises 1.1 percent, and Frankfurt's DAX 40 is in the green by 0.7 percent.
"Equity indexes continue to cautiously recover some of last week's losses ahead of Wednesday's U.S. inflation reading and the start of earnings season later in the week. After German investor morale plunged to 7-month lows, U.S. small business optimism hit 7-month highs, supporting U.S. stocks. Sales expectations in the U.S. have improved and fewer companies expect business conditions to worsen by the end of the year," commented Axel Rudolph, senior market analyst at IG.
On the commodities front, "petroleum products and natural gas rose thanks to supply shortages as OPEC+ production cuts reached nearly 5.2 million barrels per day. Gold and silver also gained ground thanks to the weakening greenback, which is heading for its fourth consecutive day of depreciation."
On the main index of Piazza Affari, among the best in fact is Tenaris, in the green by 2.8 percent, surpassed only by Moncler, which takes the top spot with a 2.9 percent gain.
Also doing well is Saipem, up 0.9% as is Eni.
Banks also up after releasing volume data for June.
Banca Generali gains 0.2 percent after announcing Monday that it achieved net inflows of EUR527 million in June, bringing the total value realized since the beginning of the year to EUR3.26 billion, up 7 percent from the same period last year.
Banca Mediolanum raises 0.8 percent after announcing its June 2023 trading results on Friday reporting total volumes of EUR740 million, EUR6.46 billion since the beginning of the year.
In contrast, total net inflows of EUR447 million rise to EUR4.69 billion when considering since the beginning of the year.
The exception is Azimut, which is in the fractional red after reporting positive net inflows of EUR802 million in June, reaching EUR3.7 billion since the beginning of the year, with a full-year 2023 target of between EUR6 and EUR8 billion.
On the Mid-Cap, the fashion sector's momentum continues with Salvatore Ferragamo closing flat-despite the news that Stifel and Citigroup have cut their target prices-, Tod's rising 1.6 percent, and Safilo Group gaining 2.8 percent.
The latter also announced the appointment of Michele Melotti as its new CFO effective Aug. 28.
Banca Popolare di Sondrio rises 1.1 percent after it reported Thursday that Fitch, upon completion of its annual rating review process, kept all assigned ratings unchanged.
Specifically, the bank's Long-term Issuer Default Rating was confirmed at 'BB+' with stable outlook.
On the Small-Cap segment, Digital Bros gave up more than 15 percent after announcing on Tuesday that it had updated its forecasts for the current year's performance with expected revenues of around EUR116 million and a 13 percent drop when compared to the previous year.
Tiscali Italia, a Tessellis Group company - in the green by 1.5 percent - active in the Telecommunications and Media&Tech sectors, announced Tuesday that it has continued its path of expanding its editorial content and service offerings, with the acquisition of the channels of BIKE, a multiplatform focused on the varied world of two wheels, from BFC Media pa, a digital and media company listed on Piazza Affari.
Bastogi gives up 0.4 percent after announcing Monday that the board of directors co-opted Rebeca Gómez Tafalla as a nonexecutive and independent director and appointed her as a member of the nominations and compensation committee.
Among SMEs, the board of directors of Gibus - in the red by 3.6 percent - on Tuesday reviewed and approved consolidated operating revenues as of June 30, including the Leiner Group acquired on Sept. 30, 2022 and consolidated as of Oct. 1, 2022.
Revenues amounted to EUR50.7 million, up 11 percent from EUR45.5 million as of June 30, 2022. The performance is mainly attributable to the contribution of the Leiner Group.
Italy reports revenues of EUR28.7 million, down 19 percent from EUR35.3 million as of June 30, 2022.
Directa SIM rises 2.4% after announcing Tuesday that it has expanded the range of ETFs that make up PACs, automatic investment plans.
Growens gives up 5.1% on Tuesday when it reported that second-quarter CPaaS business line sales and SaaS business line Annual Recurring Revenues in June posted an ARR of EUR30.4 million, including Contactlab's recurring component, up 10% from the same-period 2022 figure.
In New York, at the height of trading on Tuesday, the Dow is in the green by 0.4 percent, the Nasdaq is in fractional green, and the S&P 500 is up 0.2 percent.
Among currencies, the euro changes hands at USD1.0991 versus USD1.0985 in Monday's European equities close, while the pound is instead worth USD1.2896 from USD1.2827 on Monday evening.
Among commodities, Brent crude is worth USD79.34 per barrel versus USD78.35 per barrel at Monday's close. Gold, meanwhile, trades at USD1,937.55 an ounce from USD1,922.55 an ounce on Monday evening.
Wednesday's economic calendar opens in Japan at 0150 CEST with the main machinery orders and business price index.
At 0800 CEST comes the BoE report on financial stability concluded with Governor Bailey's press conference.
An hour later in Spain inflation and producer price index are published.
At 1110 CEST in Italy there will be the auction of 12-month BOTs.
As usual, at 1300 CEST it is the turn of mortgages from the United States.
In the afternoon, also from overseas, comes at 1430 CEST U.S. inflation data for June.
Among the companies listed in Piazza Affari, Unieuro's results are expected.
By Claudia Cavaliere, Alliance News reporter
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